Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Dollar Slips against Basket of Major Currencies amid Bank Turmoil

Sun 19 Mar 2023 | 07:32 AM
Taarek Refaat

The US dollar fell against major currencies on Saturday after the Federal Reserve and banks moved to ease pressure on the financial system, easing most of the major currencies that had slumped earlier this week in the wake of bank turmoil.

The U.S. currency also fell against the Egyptian pound to 30.48 on Saturday, after recording 30.84 to buy, and 30.95 to sell in the Central Bank of Egypt before the weekend.

Since Thursday, the euro rose and the dollar fell against a basket of major currencies after the European Central Bank (ECB) raised interest rates as expected. The ECB's 0.5% rate hike was aimed at curbing inflation.

Exchange Rate of US Dollar Against Major Currencies

USD/EGP 30.48 

USD/EUR 0.930923 

USD/GBP 0.820873 

USD/INR 82.527524 

USD/CHF 0.922827 

USD/JPY 131.826036 

USD/CNY 6.887264