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US dollar weakens amid Fed minutes
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IANS | 21 May, 2020
The US dollar declined in late
trading on Wednesday as market participants digested the minutes from
the Federal Reserve's latest policy meeting.
The dollar index,
which measures the greenback against six major peers, dipped 0.26 per
cent at 99.1250. Minutes released on Wednesday from Fed's April meeting
showed deep concern about the economy.
"Participants judged
that the effects of the coronavirus outbreak and the ongoing public
health crisis would continue to weigh heavily on economic activity,
employment, and inflation in the near term and would pose considerable
risks to the economic outlook over the medium term," the minutes said,
Xinhua reported.
The euro maintained strength after France and
Germany jointly proposed that the European Commission borrow money on
capital markets in the European Union's name and create a recovery fund
to help the coronavirus-battered European economies and regions.
In
late New York trading, the euro rose to $1.0984 from $1.0945 in the
previous session, and the British pound decreased to $1.2230 from
$1.2281 in the previous session. The Australian dollar increased to
$0.6600 from $0.6567
The US dollar bought 107.48 Japanese yen,
lower than 107.72 Japanese yen of the previous session. The US dollar
fell to 0.9647 Swiss franc from 0.9709 Swiss franc, and it rose to
1.3891 Canadian dollars from 1.3886 Canadian dollars.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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84.35
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82.60 |
UK Pound
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106.35
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102.90 |
Euro
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92.50
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89.35 |
| Japanese
Yen |
55.05 |
53.40 |
| As on 12 Oct, 2024 |
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