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Dollar index highest in 20 years on Ukraine, Fed rate
Dollar index highest in 20 years on Ukraine, Fed rate
Agence France-Presse
Published Sep 21, 2022 05:04 PM PHT
A staff member counts US dollars banknotes at a bank in Hanoi, Vietnam, 19 September 2022. The USD/VND exchange rate has increased by more than 3.6 percent since the beginning of 2022, the highest in history, according to media reports. EPA-EFE/LUONG THAI LINH
LONDON - The dollar on Wednesday reached the highest level in 20 years against a basket of major rival currencies with traders seeking safety as Russia escalates operations over Ukraine.
The Dollar index, which compares the US unit against currencies including the euro, pound and yen, jumped to a two-decade high at 110.87 points, also as the Federal Reserve prepares another aggressive US interest-rate hike.
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