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The dollar weakens, currencies of developing countries gain value

With the weakening of the dollar, an index consisting of the currencies of developing countries has reached a record level.

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The dollar weakens, currencies of developing countries gain value

With expectations of stable economic growth and a shift toward looser monetary policy in the U.S. rising, currencies in emerging markets have gained value against the dollar, pushing MSCI's index tracking these currencies to a record high.
The dollar weakens, currencies of developing countries gain value

As the dollar weakened by 0.3 percent against a basket of other currencies, MSCI's international emerging market currency index rose by 0.6 percent to reach a record high.
The dollar weakens, currencies of developing countries gain value

This Friday, the speech by US Federal Reserve (Fed) Chair Jerome Powell at Jackson Hole will be on investors' agendas. Powell is expected to acknowledge the arguments for lowering borrowing costs.

The emerging market stock index is up 0.7 percent today after rising 3 percent last week.
The dollar weakens, currencies of developing countries gain value

This week, the central banks of Indonesia, Thailand, South Korea, and Turkey will announce their interest rate decisions.
The dollar weakens, currencies of developing countries gain value

The South African rand extended its nine-day winning streak, rising 0.4% ahead of inflation data expected on Wednesday.
The dollar weakens, currencies of developing countries gain value

While the ruble stabilized with a 0.1 percent increase against the dollar, its losses have exceeded 4 percent since Ukraine launched its attack on the Russian city of Kursk.
The dollar weakens, currencies of developing countries gain value

The euro gained 0.2 percent against the Polish zloty, while it traded flat against the Czech koruna.
The dollar weakens, currencies of developing countries gain value

The Israeli shekel lost 1.4 percent of its value following four consecutive sessions of gains against the dollar. According to data released yesterday, the Israeli economy grew by 1.2 percent in the second quarter, failing to meet the 4.4 percent second-quarter growth expectation in a Reuters poll.
The dollar weakens, currencies of developing countries gain value

As of August 19, 2024, the dollar is trading at 33.71 and the euro at 37.28.