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The Latest Breaking News from US Dollar

Iran’s currency hits all-time low as EU prepares more sanctions

Iranian rial crosses 500,000 to the US dollar as prices of food and essentials continue to rise.

Al Jazeera

Iran’s Currency Falls to Record Low as Sanctions to Continue

Iran's troubled currency broke below the psychologically key level of 500,000 rial per US dollar on Monday, as market participants saw no end in sight to sanctions. The Iranian rial plummeted to a new record low of 501,300 against the US dollar, according to Bonbast.com which gathers live data from…

Asharq Al-Awsat

Lebanon Devalues Official Exchange Rate by 90%

Lebanon devalued its official exchange rate for the first time in 25 years on Wednesday, weakening it by 90% but still leaving the local currency well below its market value. The pound has crashed since a financial meltdown in 2019 after decades of corruption, profligate spending and mismanagement by the…

Asharq Al-Awsat

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Lebanon to Devalue Currency by 90% On Feb. 1, C.Bank Chief Says

Lebanon will adopt a new official exchange rate of 15,000 pounds per US dollar on Feb. 1, central bank governor Riad Salameh said, marking a 90% devaluation from its current official rate that has remained unchanged for 25 years. The shift from the old rate of 1,507 to 15,000 is…

Asharq Al-Awsat

US Dollar Continues Insane Hike at the Expense of Iraqi Dinar

The exchange rate of the US dollar in Iraq continues to skyrocket as the country’s monetary authorities and government fail to curb the devaluation of the Iraqi dinar.

Asharq Al-Awsat

Yemeni Government Asserts Need to Accelerate Reforms to Protect Economy, Currency

The Yemeni government on Thursday stressed the need to accelerate the adopted reforms to protect the economy and the local currency. The cabinet asserted its commitment to rationalizing spending and ensuring that the population is not affected by the measures taken to increase revenues. Prime Minister Maeen Abdulmalik chaired a…

Asharq Al-Awsat

Iraqi PM replaces Central Bank governor over currency drop

Mohammed Shia al-Sudani’s move comes after a fall in value of the Iraqi dinar against the US dollar.

Al Jazeera

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Iranian Currency Falls to Record Low

Iran's troubled currency fell to a record low against the US dollar on Saturday amid the country's increasing isolation and possible Europe Union sanctions against Tehran's Revolutionary Guards or some of its members. Ties between the EU and Tehran have deteriorated in recent months as efforts to revive nuclear talks…

Asharq Al-Awsat

Lebanon Central Bank Sets New Rate for Withdrawals from Dollar Deposits

Lebanon's central bank said on Thursday it had set a new rate of 15,000 Lebanese pounds to the US dollar for withdrawals from bank deposits denominated in dollars, but which can now can be accessed largely in the local currency. The rate was previously set at 8,000 pounds under central…

Asharq Al-Awsat

Egypt's Pound Weakens to New Low of 30/USD

Egypt's pound weakened on Wednesday to a new low of 30 against the US dollar after fluctuating in morning trading, Refinitiv data showed. Egypt committed to a flexible currency, a greater role for the private sector and a range of monetary and fiscal reforms when it agreed to a $3…

Asharq Al-Awsat

Surge in London mansion sales as US buyers cash in on 30% currency discount

The strength of the US dollar against the pound has made London property around a third cheaper for American buyers

Evening Standard

Year 2022 Saw Erosion of Middle East National Currencies

The year 2022 witnessed an unprecedented decline in the exchange rates of a number of national currencies in some Middle Eastern countries, most notably Egypt, Türkiye, Sudan and Iraq. The value of some of the region’s currencies fell against the US dollar, while others saw very sharp deteriorations, as is…

Asharq Al-Awsat

Egypt Government Moves to Control Currency Exchange Rate

The Egyptian government pledged to “control the market,” stressing that the US dollar crisis is on its way to being resolved. It has also sought to crack down on currency dealers in the “black market.” The value of the Egyptian pound declined against the US dollar following the Central Bank’s…

Asharq Al-Awsat

Rupee's Outlook Depends Largely On Global Monetary Policy Moves

Monetary policy tightening by various central banks to contain inflation, the war in Ukraine leading to price rise for crude oil and subsequent realignment in the global energy supply chain, and strengthening of the US dollar index kept the Indian currency under pressure in 2022. Read on for details:

Dynamite News

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Asharq Al-Awsat

Iraqi Dinar Continues to Weaken against US Dollar

Iraq’s currency plummeted to a new low against the US dollar. In the northern Kurdistan region, the rate stood at 1,550 Iraqi dinars to the dollar - the lowest it has traded since 2004, according to experts. The depreciation in the dinar’s value triggered a wave of severe anxiety in…

Asharq Al-Awsat

Sisi Stresses Availability of US Dollar in Egypt

Egyptian President Abdel Fattah al-Sisi stressed that foreign currency is available to release imported goods in ports, assuring that the government has dollars. During the inauguration of two medical and industrial gas plants and a tri-generation plant in the chemical industries complex in Abu Rawash, Giza, Sisi said state was…

Asharq Al-Awsat

Syrian Pound Hits New Low on Black Market

Syria's nose-diving pound hit a new record low Saturday against the dollar on the black market, according to websites monitoring the exchange rate, as the country faces severe fuel shortages. The Syrian economy has been battered by more than 11 years of war and crippling Western sanctions, pushing 90 percent…

Bangkok Post

Investors look to emerging markets as planets align for end of dollar bull market

NEW YORK: As the US dollar tumbles from multi-decade highs, some investors are betting emerging market currencies will be big winners from a sustained reversal in the greenback.

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The Conversation

The US dollar is getting stronger: African countries are feeling the pain and have few policy options

The US dollar has been advancing rapidly in response to the Federal Reserve’s resolve to keep raising policy rates for longer to regain control of stubbornly high inflation. This has far reaching consequences. The US dollar is prominently used around the world as an international medium of exchange and as…

Asharq Al-Awsat

Lebanon Central Bank to Use Forex Rate of 15,000 Pounds per Dollar as of Feb. 1

Lebanon's central bank will adopt an exchange rate of 15,000 Lebanese pounds per US dollar as of Feb. 1 as part of a process to unify the country's multiple exchange-rate system, Lebanese central bank governor Riad Salameh said on Monday. The central bank's official rate is currently set at 1,500…

Asharq Al-Awsat

Oil Prices Ease to Trade Near 2-Month Lows on China Demand Fears, Dollar Strength

Oil prices dropped to trade near two-month lows on Monday, having earlier slid by around $1 a barrel, as supply fears receded while concerns over fuel demand from China and US dollar strength weighed on prices. Brent crude futures for January had slipped 74 cents, or 0.8%, to $86.88 a…

The National (Scotland)

Pound plummets as markets spooked by Tory austerity budget

THE pound has dropped sharply against the US dollar as financial markets fretted over warnings the UK is already in recession and fears Chancellor…

Benzinga

Why The US Dollar, A Safe Haven For Worried Investors, Rebounded On Monday

The Invesco DB US Dollar Index Bullish Fund (NYSE: UUP) rebounded by 0.6% Monday morning after a difficult week last week.

Evening Standard

London dealt Brexit blow as the City loses equity market title to Paris

An index compiled by Bloomberg showed combined market capitalisation of primary listings in Paris overtook London in US dollar terms

Asharq Al-Awsat

Lebanon’s National Currency Tumbles as Central Bank Issues ‘Ambiguous’ Measures

The Lebanese pound exchange rate on the black market has slid to nearly LBP 40,000 to the US dollar amid conflicting reports about a delay in new regulatory measures that the Central Bank is preparing to take, which requires raising the price of allowances for withdrawals from hard currencies. In…

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