Dollar value falling, euro strengthening

SARAJEVO, (Patria) - The value of the dollar against a basket of currencies fell last week on world markets, a consequence of further easing of monetary policy by the US central bank, the Federal Reserve (Fed), aimed at mitigating the economic damage from the spread of coronavirus in the United States.

The dollar index, which shows the value of the US dollar against the other six most important world currencies, slipped 1.1 percent last week, to approximately 99.5 points.

At the same time, the euro's exchange rate against the dollar rose 1.2 percent, SEEbiz reports.

Against the Japanese currency, the dollar's price fell 0.1 percent.

None of this is surprising, considering that in recent weeks the dollar's exchange rate has been extremely volatile due to the spread of coronavirus worldwide and significant economic damage resulting from strict measures aimed at curbing the virus.