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Ekonomi

Broad basket of currencies losing ground against dollar

– Foreign exchange rates in wide range of countries across the world seeing declines in value against US dollar

By Gokhan Ergocun

ANKARA (AA) – This month has seen several foreign currencies lose value against the U.S. dollar (USD), according to data compiled and analyzed by Anadolu Agency.

In Europe, since Aug. 1, the euro (EUR) lost around 2.3 percent against the dollar, while the British pound (GBP) dropped over 2.5 percent.

On Aug. 1, the U.S. dollar was traded for €0.86 and £0.76, but as of the beginning of Monday it had risen to €0.88 and £0.78. At the beginning of 2018 the USD/EUR and USD/GBP exchange rates were 0.8 and 0.73.

The Chinese yuan (CYN), Indonesian rupee (IDR), and Indian rupee (INR) in Asia fell by 0.73 percent, 1.2 percent, and 1.6 percent versus the dollar, respectively, in this period.

The U.S. dollar/Chinese yuan exchange rate rose from 6.82 to 6.87, while the USD/IDR and USD/INR exchange rates reached 14,621 and 69.46, respectively.

This January, the USD/CYN, USD/IDR, and USD/INR exchange rates were 6.5, 13,567, and 63.68.

Russia's ruble (RUB) also lost ground, down 7.4 percent since the beginning of the month. The USD/RUB exchange rate was 57.2 in January, 63.03 on Aug. 1, and 67.7 on Monday.

In South America, the Brazilian real (BRL) dropped 2.9 percent against the dollar, with BRL/USD exchange rate rising from 3.75 to 3.86 in the period. At the beginning of the year, it was 3.31.

Currencies from Oceania and Africa also lost value against the dollar this month.

The Australian dollar (AUD), New Zealand dollar (NZD), and South African rand (ZAR) suffered 1.5 percent, 3.4 percent, and 9 percent over the last two weeks.

On Aug. 1 the USD/AUD rate was 1.35, USD/NZD was 1.47, and USD/ZAR was 13.2, but by Monday they rose to 1.37, 1.52 and 14.4, respectively.

At the beginning of the year, one dollar was traded for 1.28 Australian dollars, 1.4 New Zealand dollars, or 12.3 South African rands.

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