U.S. Dollar hits new record

0

Get real time updates directly on you device, subscribe now.

The US dollar hits a new record against the national currency. It rose today to 5.11 lei, compared to 5.06 lei, Friday’s level. Instead, the euro depreciated slightly at the BNR rate, to 4.94 lei.

The US currency is considered a safe haven currency during geopolitically tense times. And the results of the Italian elections only added gas to the fire on an increasingly fragile European currency in the face of the war in Ukraine. The Dollar Index, which measures the evolution of the American currency against a basket of six other currencies, rose 0.2% to 113.87 points, a new high against the euro, which reached $1.04.

Conversely, the British pound fell to an all-time low against the dollar after the British Government announced new tax-cutting measures. It fell as much as 4.9% against the dollar to $1.0327.

The World Bank has warned that the global economy is heading for recession and that we could see “a series of financial crises in emerging markets that would have lasting effects”.

The World Bank’s message comes against the background of the record level of loans granted by the International Monetary Fund (IMF) to countries with economic problems, a level that reached 140 billion dollars at the end of August.

A stronger dollar makes debt that governments and companies in emerging markets have taken out in US dollars more expensive. In total, emerging markets owe US$83 billion due by the end of next year, according to data from the Institute of International Finance covering 32 countries.

DONATE: Support our work
In an ever changing and challenging world, the media is constantly struggling to resist. Romania Journal makes no exception. We’ve been informing you, our readers, for almost 10 years, as extensively as we can, but, as we reject any state funding and private advertising is scarce, we need your help to keep on going.
So, if you enjoy our work, you can contribute to endorse the Romania Journal team. Any amount is welcome, no strings attached. Choose to join with one of the following options:
Donate with PayPal
Donate by Bank Wire
Black Zonure SRL
UniCredit Bank. Swift: BACXROBU
RON: RO84 BACX 0000 0022 3589 1000
EURO: RO57 BACX 0000 0022 3589 1001
USD: RO30 BACX 0000 0022 3589 1002

Leave A Reply

Your email address will not be published.