Russia, Federal Reserve impact: Big gaps in Asian currencies against the dollar

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Ahmedabad. 22 September 2022, Thursday

Asian currency markets have seen tremors after Russia announced on Wednesday that it would intensify its war against Ukraine and signaled that interest rates will rise further after the Federal Reserve raised interest rates in the US by 0.75 percent. The world's safest and most accepted currency is dot to buy the dollar.

On Thursday morning in the global market, the dollar index, which determines the value of the American dollar against the leading six currencies of the world, was seen at the level of 112, which is the highest level in the last two decades.

On the other hand, the Japanese yen was at a low of 145 against the dollar, a 24-year low. China's yuan also fell 0.6 percent to a two-year low of 7.1 against the dollar. South Korea's won fell 0.7 percent to a 15-year low against the dollar and Thailand's baht fell 0.5 percent to a 16-year low.

Meanwhile, the Indian rupee fell by 88 paise to close at an all-time low of 80.86 against the dollar today.

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