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The UAE dirham exchange rate rose more than 2% in July against the world's major currencies, mainly the euro and the pound, according to the appreciation of the dollar.
The rise of the dirham against currencies to reduce inflation levels in the domestic market, due to lower prices of imported goods, which increases the purchasing power of consumers and also reduces the cost of traveling abroad, according to the newspaper.
According to the exchange rates published by the Central Bank, the exchange rate of the dirham against the European currency (euro) in July was 4,088 AED yesterday, against 4.18 dirhams at the end of June 2019, an increase of 2.2%, a decrease of 9 euros from the euro during the period
Sterling lost 11 sons over the same period to settle at 4.56 dirhams a pound yesterday, compared to 4.67 dirhams at the end of last month, a decrease of about 2.15%. .
This strengthened the value of the dirham against these currencies and strengthened the strength of the national currency of the United Arab Emirates.
The exchange rate of the dirham against other currencies, such as the Swiss franc, reached 3.69 AED yesterday, against 3.76 AED at the end of June.
The exchange rate of the UAE's national currency has also increased against the Australian dollar, where the price in dirhams reached yesterday 2.54 dirhams, against 2.57 dirhams at the end of last month.
The Canadian dollar fell against the dirham yesterday at 2.78 dirhams against 2.84 dirhams a month ago. The Japanese yen also fell to 0.0338 AED.
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