The US dollar surged to its highest level in a year as Donald Trump declared his victory in a highly contested race for a second term in the White House.
The dollar index, which measures the greenback against a basket of six major currencies, rose by 1.56% to reach 105.03 points at 10:55 am Makkah time.
Bloomberg’s US dollar index also increased by 1.7% earlier in the session, reaching around 1,280 points, marking its highest level in a year.
Meanwhile, the euro fell by 1.75% to $1.0738, the pound sterling dropped by 1.29% to $1.2873, and the Swiss franc declined by 1.15% to $1.145.
Trump is currently delivering a victory speech after initial signs showed him securing 277 votes, surpassing the threshold needed to win a second term as president of the world's largest economy.
Analysts expect Trump’s policies to lead to a broad recovery in the US economy and Wall Street markets, at least in the short term.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}