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US dollar dips amid Fed minutes
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IANS | 10 Oct, 2019
The US dollar ticked down
slightly as investors scrutinized the September policy meeting minutes
released by the US Federal Reserve.
In late New York trading on
Wednesday, the euro was up to $1.0974 from $1.0954 in the previous
session, and the British pound was down to $1.2211 from $1.2217 in the
previous session, Xinhua reported.
The Australian dollar decreased to $0.6726 from $0.6730. The
US dollar bought 107.54 Japanese yen, higher than 107.12 Japanese yen
of the previous session. The US dollar rose to 0.9959 Swiss franc from
0.9938 Swiss franc, and it was up to 1.3330 Canadian dollars from 1.3318
Canadian dollars. The Federal Open Market Committee, the
Fed's rate-setting arm, decided to slash its benchmark interest rates by
a quarter point at the September 17-18 meeting, lowering the overnight
funds rate to a target range of 1.75 per cent to 2 per cent. "It
might become necessary for the Committee to seek a better alignment of
market expectations regarding the policy rate path with policymakers'
own expectations for that path," said the minutes. The dollar index, which measures the greenback against six major peers, was down 0.01 per cent at 99.1212 in late trading.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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