The following Forex news reports are the latest developments of the Forex market. The news reports are updated frequently and include all the events that affect the foreign exchange trading industry.
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The national currency across the UAE is the Dirham, which has an exchange rate tied to the US Dollar. As it is with other currencies, it also evolves with the US Dollar.
Analysts have estimated that China’s foreign exchange reserves increased by approximately $80 billion in January, 2008, mainly as a result of capital inflows from Hong Kong.
The value of the U.S. Dollar has continued its downward trend against the Euro for a fifth successive trading session, and on March 3 , it dropped to a new record low of $1.526 against the Euro, as a result of escalating concerns over the state of the U.S. economy