![]() ![]() Japanese Finance Minister Shunichi Suzuki said on Friday rapid currency moves were undesirable and authorities wouldn't rule out any options against excessive swings, in a fresh warning to investors trying to sell the yen. The Japanese unit was last down 0.3% at 147.6 per dollar and on the weaker side of the key 145-level that prompted Japan intervention last year. The yuan's rapid decline has prompted authorities to step in and slow the pace of its depreciation. China's currency has depreciated steadily since February as the faltering post-pandemic economic recovery and widening yield gap with other economies, particularly the United States, affected capital flows and trade. IN THE DOLDRUMS The onshore Chinese yuan touched its weakest level against the dollar since December 2007 at 7.3510, while its offshore counterpart sank to a 10-month low of 7.3665 per dollar. dollar was last down 0.3% versus the Canadian currency at C$1.3642. Set rate alerts for EUR to USD and learn more about Euros and US Dollars from XE - the Currency Authority. The Canadian dollar firmed against the greenback after Canada created 39,900 jobs last month, compared with a median forecast for a gain of 15,000. Get the latest 1 Euro to US Dollar rate for FREE with the original Universal Currency Converter. Sterling moved away from Thursday's three-month low and last bought at $1.2459, down 0.1%, and set to clock a weekly loss of 1%. Iranian Rial Exchange Rates Exchange rate of the Iranian Rial Comparison of two currencies such as Iranian Rial against Euro, US dollar and others The. central bank to hold interest rates steady later this month. The chances of a Fed rate hike at the November meeting was still at more than 40%, although the market expects the U.S. In contrast, industrial production in Germany, Europe's largest economy, fell by slightly more than expected in July. services sector unexpectedly gained steam in August while jobless claims last week hit their lowest since February. It was last flat on the day at $1.0699, having fallen to a three-month low on Thursday.ĭata out this week showed the U.S. ![]() The euro, the largest component in the dollar index, was on track for eight straight weeks of losses and down 0.7% on the week. Emirati Dirham to Iranian Rial conversion Last updated Sep 2, 2023, 05:56 UTC. You won’t receive this rate when sending money. So I think the market is having a hard time pushing the dollar significantly higher." We use the mid-market rate for our Converter. "The market is quite long dollars already and the incremental upside has been small. That said, Vassili Serebriakov, FX strategist, at UBS in New York, said while eight weeks are an unusually long stretch of dollar strength, the currency's gains are getting smaller every week. It hit a six-month peak of 105.15 the previous session. In afternoon trading, the dollar index, which measures the greenback against six major peers, was flat at 105.05. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Economist Steve Hanke and professor of applied economics at The John Hopkins University recently said dollarization is the only way Argentina can stop the "death spiral" eating the economy.Best Debt Consolidation Loans for Bad Credit Annual inflation in the South American nation measured 113%, according to the most recent data.Īrgentina's presidential candidate Javier Milei has urged the nation to scrap the peso and dollarize in a bid to tame triple-digit inflation. The dollar has surged some 240% against the peso since the end of 2021. Argentina must NOT do this!" Robin Brooks, chief economist at the Institute of International Finance (IIF) said in a Monday post on X.Ī collapse in the Argentine peso has worsened the nation's hyperinflation and debt problems, prompting some calls for the country to replace the local currency with the greenback. By hitching its wagon to that, Ecuador locked itself into chronic low growth and has underperformed its LatAm peers for a decade. US Dollar is the strongest currency globally. Below, you'll find Iranian Rial rates and a currency converter. The currency code for Rials is IRR, and the currency symbol is. Our currency rankings show that the most popular Iranian Rial exchange rate is the IRR to USD rate. "Some in Argentina romanticize Ecuador's dollarization. The Iranian Rial is the currency of Iran. Argentina could get stuck in a prolonged period of economic weakness, similar to what Ecuador has experienced, should Buenos Aires choose to adopt the US dollar as its currency, according to one economist. ![]()
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