The British pound is at an all-time low against the dollar

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Ahmedabad. 26 September 2022, Monday

The British pound hit a 250-year low against the U.S. dollar in the Asian session on Monday after investors flocked to the safety of the global dollar and the biggest tax cuts in 50 years were announced last week in a recession-hit British economy.

When trading started in the Asian session on Monday, the pound was at 1.03 against the dollar, which is It is the lowest level since 1776. However, prices rose again to 1.07 pounds per dollar after seeing normal buying at fairly low levels.

The dollar index, which determines the value of the American dollar against the six leading currencies of the world, rose to 114.50 at one point today, which is now above the level of 113.68.

The euro is above two-decade lows against the dollar. Today, the price of Euro was 0.96. Australian dollar was 0.6496. The yen was above a 34-year low of 144 against the dollar.

In the Indian session, the rupee once again closed at a historic low of 81.60 against the US dollar today.

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