Question

How is the COVID-19 affecting the dollar, in the US and around the world?

Answer 1

As we all know that this COVID-19 is Pandemic and it will affect to whole world at large. Now a day in every country there is lockdown (Everything is closed) due to which every business/Manufacturing/Services etc. are closed and this is impacting Economy of world. We are living in a country where every country is dependent on other because of globalisation.

Now coming to the main point this economy crisis of world will effect there currency as well. In US the central bank has reduces their interest rate which was supposing that dollar will lose it value however it was able to maintain the value of dollar. In many country they are losing their value against the USD like MXN,COP,RUB,BRL,SDG,ZMW etc. however at the same time MMK i.e. Burmese Kyat able to make their currency value strong against USD because In early March, the Central Bank held currency auctions to temper the currency’s appreciation and This led to a brief bounce back to Burmese kyat.

I hope this clear your doubt.

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