The Canadian dollar fell to the weakest level against the U.S. dollar in more than 18 months after crude oil and commodity prices fell significantly on speculation that the global demand will decline.
The Indian rupee fell to the new record low level versus the U.S. dollar today as the foreign investors pulled out capital out of the country’s markets amid deepening of the global financial crisis.
The Japanese yen fell against other major currencies today after reaching record highs yesterday as the massive rate cut by the world’s major central banks inspired some confidence in the stock markets.
The Japanese yen demonstrated a breakthrough growth against almost all major currencies today as the stocks tumbled globally and traders sought the «safe haven» assets.
The Australian dollar got boosted by the central bank’s decision to cut the interest rate by 1 percentage point today and recovered against the other major currencies during the Asian trading session.
The European currency fell to the lowest level in the last two years against the Japanese yen and the weakest level in more than 13 months against the U.S. dollar today as the credit crisis urged Eurozone’s governments to pledge a help to the troubled financial institutions.
The U.S. dollar showed the biggest weekly gain ever against the euro on the Forex market this week as the global demand for dollar liquidity kept the greenback up despite the strong negative factors.
The Australian dollar posted the biggest weekly loss since 1985 against the U.S. dollar this week, as the traders dumped their positions in the high interest rate currencies, while the situation with the global financial system remained uncertain.
The Icelandic krona declined to the lowest level in almost seven years against the U.S. dollar yesterday after the rating downgrades by S&P and Fitch rating agencies raised the risk-averting mood among the investors.
The Taiwanese dollar gained today after four days of declining against the U.S. dollar as the speculations that the U.S. senate will approve the $700 billion bail-out plan by the end of this week spurred confidence in the Asian currencies.