Dirham rises against world’s top four currencies in a month

The value of the dirham against the top four global currencies rose from 1.2% to 4.2% in one month, according to the analysis of the exchange rate of the local currency against international currencies based on the exchange rate issued by the UAE’s Central Bank.

The dirham rose against the Euro, Japanese Yen, British pound, and the Swiss franc in the last four weeks following the rise of the dollar against several currencies, reaching the highest valie in about a year.

The exchange rate of the dirham is moving in a way that keeps pace with the dollar, as the local currency has been linked to it for more than four decades.

The exchange rate of the dirham against the euro rose to 4.15 on October 31, 2018, an increase rate of 3.15% compared with 4.28 dirhams in September of the same year.

The exchange rate of the dirham against the Swiss franc rose by 4.2%, reaching 3.64, compared to 3.80 during the same monitoring period, and against the British pound (Pound sterling) the dirham rose by 2.5%, reaching 4.68 per dirham compared to 4.80 in September.

The dirham also rose against the Japanese Yen by 1.2%, reaching 0.0323 compared to 0.0327 in September.

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