The value of the US dollar has fallen. Various banks and regulators have taken various steps to reduce the pressure on the global financial system. This has reduced the price of the US currency. This information was found in a report of the news agency Reuters. Other banks have come forward to help the struggling First Republic Bank in the United States. As a result, the risk of a global banking crisis has decreased.
The Aussie currency appreciated by 0.76 percent. The price of each is fixed at zero decimal 6708 US dollars. The value of the Kiwi currency has risen by 0.69 percent. The price of one settled at zero decimal 6239 US dollars. Other banks have provided $30 billion in support to regional small-scale First Republic Bank. Earlier, the Swiss central bank provided 54 billion dollars to Credit Suisse Bank. As a result, there is hope that the banking sector around the world can turn around. Mid-sized Silicon Valley Bank and Signature Bank closed abruptly last week. It caused instability in the global financial sector. Later, the fragile situation of Credit Suisse and First Republic Bank made it even direr.
In general, the Federal Reserve (Fed) may refrain from adopting a tighter monetary policy. As a result, the country’s currency depreciated. The dollar index fell 0.31 percent. Currently it stands at 104.07 points. In effect, the US banking sector has become destabilized. Europe has it better than that. In this, the exchange rate of the main currency of the European Union (EU) Euro has increased by 0.33 percent. Each sold for $1.0647.
The British currency sterling rose by 0.4 percent. One sold for $1.2159. In addition, the value of the Swiss franc increased by 0.35 percent. The Japanese currency, the yen, rose further. The value of the currency increased by 0.56 percent. The price per yen settled at 133.01 dollars.