The dirham rises against the four major currencies in a month

The value of the dirham against the four major world currencies increased from 1.2% to 4.2% in one month, according to the analysis of the exchange rate of the local currency against the international currencies on the basis of the list exchange rate published by the Central Bank of the United Arab Emirates.

The rise of the dirham against world currencies, including the euro, the yen and the pound sterling, in addition to the Swiss franc over the last four weeks that followed the sharp rise of the dollar against a basket of currencies, the highest for about a year.

The dirham exchange rate is at the same level as the US dollar, since the local currency has been linked to the green card for more than four decades.

The exchange rate of the dirham against the euro reached 4.15, a rate of 3.5% as at October 31, 2018, against 4.28 dirhams in September of the same year.

The exchange rate of the dirham against the Swiss franc increased by 4.2% to reach 3.64% against 3.80 during the same monitoring period.

The increase in the local currency also includes the exchange rate against the pound sterling and 2.5%, reaching 4.68 per dirham against 4.80 in September.

In terms of DAE compared to the Japanese yen, it increased by 1.2%, reaching 0.0323 against 0.0327 in September.

Several factors have contributed to the recent appreciation of the dollar, including the increase in mutual tariffs on trade between the United States and China.