United States dollar

Britain Pound Sinks As PM Liz Truss Fires Finance Minister

Pound Dives Down To Less Than 1% Against US Dollar

It is not the best of times for the British pound as it has reportedly sunken on Thursday by more than one percent against the United States dollar after the sudden move by the Bank of England to fully intervene on some of the the bond markets to head off a fresh financial catastrophe.

The Pound Sterling had also slid as low as $1.0763 in the early morning of Thursday as London deals one day after the BoE had snapped up its long-dated government bonds, or gilts, to prevent a material risk to stability.

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Chinese Chinese Yuan Crashes Down To 6.8998 Against Dollars

Chinese Yuan Crashes Down To 6.8998 Against Dollars

The Chinese market saw a major downturn today as the Chinese currency, the renminbi, or the yuan has reportedly weakened on 81 pips to 6.8998 against the United States dollar as had been reported by the China Foreign Exchange Trade System.

In China’s spot foreign exchange market, the yuan had been allowed to rise or fall by two per cent from the central parity rate each trading day.

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The central parity rate of the yuan against the dollar was based on a weighted average of prices offered by …

US Dollar Finally Equals Euro For The First Time In 20 Years 

US Dollar Finally Equals Euro For The First Time In 20 Years 

The financial exchange market is in a bit of a quagmire as the exchange rate between the Euro and the United States dollar peaked at the same spot on Tuesday for the first time in 20 years.

As of Tuesday morning Greek time, one euro was measuring equal to exactly one dollar, which meant that the value of the euro has been dropped down by over 12 percent compared to its value at the beginning of the year. This means that the euro is at its weakest against the dollar since winter of 2002, twenty years ago.

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