Euro and Pound Sterling Rise Against Dollar in July

Most of the key currencies relative to the apparel remained relatively stable in July as compared to June, with a couple of notable exceptions.

The euro fell 2 percent against the U.S. dollar in the month, to $1.34 on July 31, increasing its year-to-date decline to 2.88%, though it remains ahead by .78% compared to this time last year.


The pound dropped 2 percent against the dollar in the month, to $1.67, reducing its year-to-date increase to 2.2% and its year-on-year gain to almost 9.8%.


The Indian rupee remained stable in July after its 1.8% increase in June following the country’s national election, tempering its year-to-date slide to less than 3 percent.


The Indonesian rupiah dropped by 3 percent in July, reversing the prior month’s gain and increasing its year-to-date decline to 4.25%.


The Pakistani rupee remained flat in July, down about 3 percent from the same month last year, and 8 percent year-to-date.


The Chinese yuan edged up slightly against the dollar in July and 0.7% higher for the year so far.


The Bangladeshi taka, which is loosely pegged against the U.S. dollar, was down slightly in the month.


The Vietnamese dong’s movements are usually very small since it too is pegged. In July, however, it dropped in value by almost .6% against the dollar.



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