The US dollar rose to the strongest level against several other major currencies as Donald Trump won the race for the US presidency.
According to Bloomberg, the dollar claimed as much as 1.7%, the most in four years, hitting the highest since November 2023. The rise is due to sentiments that Trump will introduce various policies that will see investors get better returns on savings and investments they hold in dollars.
BBC reports that on Wednesday, November 6, the British pound sank 1.41% against the US dollar to its lowest level since August.
Similarly, the euro dived 2.24% against the US dollar to its lowest level since June....Read Full Article [Click Here>]
Earlier, Legit. ng reported that the US dollar suffered a mild setback in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
The development led to the appreciation of the Nigerian naira, gaining N6 in the official market.
The development comes as the volume of dollar supplies, also known as turnover, in the Nigerian Autonomous Foreign Exchange Market increased monthly by 74% to $5.4 billion in October from $3.31 billion traded in September.
