Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Dollar Slips against Major Currencies as Banking Sector Fears Recede

Tue 28 Mar 2023 | 07:51 PM
U.S. One dollar bills
U.S. One dollar bills
Taarek Refaat

The price of the dollar fell for the second day in a row against major currencies on Tuesday, as the easing of fears of the banking crisis led to a decline in demand for safe assets, according to Reuters.

The Egyptian pound recorded 30.84 to buy and 30.95 to sell against the US dollar, after recording 30.80 in early trading. 

The yen, although traditionally a safe-haven currency, rose sharply, recouping overnight losses and analysts point to inflows linked to the country's fiscal year ending on Friday.

The Australian and New Zealand dollars also jumped as the Australian dollar got additional support from better-than-expected real estate sales data.

The dollar index, which measures the performance of the US currency against six major currencies, including the yen, fell 0.16% to 102.59 during Asian trading, extending its losses of 0.35% on Monday.

The US currency plunged to 130.505 yen during the session and was last traded 0.71% lower at 130.64, giving up its 0.64% gains in the previous session.

The euro rose 0.1% to $1.0809, while the sterling pound rose 0.23% to $1.2315.

The Australian dollar rose 0.53% to $0.6686, and the New Zealand dollar rose 0.49% to $0.62265.

U.S. One dollar bills