Currency Brief: Dollar Regains Steam in March

After slowing in February, the dollar resumed its surge in March, with the U.S. dollar index closing up by 3 percent as of month-end.

Virtually all key apparel currencies weakened relative to the dollar in the month, with the euro and pound sterling down the most. The Chinese yuan and Pakistani rupee were flat against the greenback in the month.

The euro dipped by 4.5% against the U.S. dollar during the month, hitting $0.93 on March 31, almost at parity (i.e., worth one dollar), and finished March at more than 28 percent lower than a year ago.


The U.K. pound sterling plunged by 4.9% against the dollar in the month.


The Chinese yuan edged up by 0.1% against the dollar in March.


The Indian rupee dipped by 1.3% compared to the dollar in March.


The Indonesian rupiah fell by more than 1.7%.


The Pakistani rupee rose slightly, and finished the month flat against the dollar.


The Bangladeshi taka rose by 0.4%.


The Vietnamese dong fell by 1 percent in the month relative to the dollar.


The Japanese yen fell by 0.7% in March, and remains almost 17 percent lower than last year at this time.



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