After last week’s rally, safe haven currencies fell as investors remained concerned regarding tensions in Ukraine, with analysts saying the market trend is linked to the Ukraine crisis. At the same time, the Syrian pound achieved a new record once morest the currency of the European Union and Turkey.
dollar rise
The safe-haven Japanese yen fell on Friday, and risk-sensitive currencies such as the Australian dollar rose, as investors were satisfied with the plan for talks between the United States and Russia on the crisis in Ukraine.
The yen and rival safe haven, the Swiss franc, posted gains last week, with investors wary of rising tensions on the Ukrainian border, where Russia has deployed more than 100,000 troops. Western powers say Russia is looking for an excuse to invade, an accusation Moscow rejects.
Sentiment among investors improved, following the news that Came Late Thursday, US Secretary of State Anthony Blinken accepted an invitation to meet with Russian Foreign Minister Sergei Lavrov later this week on the condition that Russia not invade Ukraine.
It came on the heels of a turbulent day when Kiev’s forces and pro-Russian separatists exchanged fire.
In the same context, the dollar rose by 0.3 percent once morest the yen, and reached its highest level at 115.3 yen, following touching the lowest level in two weeks at 114.79 on Friday, February 18. While the Russian ruble fell by 0.88 percent once morest the dollar at 77.08 per dollar. The euro also fell 0.3 percent once morest the dollar to 1.1328 dollars.
To read or listen: After the dollar’s price fell, the rule of law talks regarding the movement around the exchange rate
Bitcoin to all-time low
Bitcoin fell 0.52 percent, or below $40,000, on Friday, on renewed fears of an imminent Russian invasion of Ukraine and the possibility of higher US interest rates this year.
And the largest cryptocurrency in the world, it reached 39,781 dollars, a decrease of 4.9 percent during the past 24 hours, and “Ether Ether”, the second largest digital currency, recorded a decrease of 6 percent during the past 24 hours, that is, to 2796 dollars.
Economic analyst Edward Moya described Thursday as the worst day of the year, following cryptocurrencies fell across the board, and US stocks fell sharply, following Russia continued to build up its forces on the Ukrainian border.
To read or listen: The white dollar increases the suffering of the Syrians
The Syrian pound .. Where?
The price of the Syrian pound varied today, Saturday, in the early morning trading, as it witnessed a decline once morest the US dollar, the Saudi riyal and the Emirati dirham, but it rose as for the euro and the Turkish lira.
The exchange rates of the Syrian pound once morest the dollar on the black market, for purchase in Damascus, amounted to 3600 pounds, compared to the selling price of the dollar, which reached 3635 pounds, an increase of 0.14 percent. While the price of the dollar stabilized, according to the Central Bank of Syria, it reached 2525 Syrian pounds for every dollar.
In the city of Aleppo, the price of the dollar once morest the pound reached 3,595 Syrian pounds, and the selling price reached 3,630 pounds, an increase of 0.14 percent. The exchange rate of the dollar once morest the pound also reached in the city of Idlib today, Saturday, February 19, recording 3650 pounds for purchase, and 3,690 Syrian pounds for sale.
The price of the Turkish lira once morest the Syrian lira reached 259 liras for purchase, while the selling price reached 299 liras. While the exchange of the euro once morest the Syrian pound amounted to 4,072 pounds for purchase, 4,116 pounds for sale, and 4,116 pounds for sale.
According to the Bulletin of the Society of Goldsmiths and Jewelers, a gram of gold recorded 21 carat on Friday, at a price of 185 thousand Syrian pounds. While the price of a gram of 18 karat gold was 158,571 Syrian pounds.
As for the actual price of gold in the markets, the price of a gram of 21-carat gold in Damascus amounted to 194,184 pounds for sale and 192,317 pounds for purchase. While in Aleppo, the price of 193,917 pounds for sale and 192,050 pounds for purchase was recorded. In Idlib, it reached 197,118 pounds for sale and 194,984 for purchase.
To read or listen: Major commercial losses in the Syrian economy amounting to billions of dollars
What are safe haven coins?
A safe haven currency is a currency that is considered safe during geopolitical and economic turmoil. Thus, when events such as natural disasters, wars, and stock market crashes occur, investors and traders tend to buy safe havens. This leads to an increase in the value of safe haven currencies and a decline in the value of the currencies associated with them.
The Japanese yen and the Swiss franc are at the forefront of the most important safe haven currencies that have proven their strength and resilience in the face of economic and geopolitical turmoil over the past years. Behind them comes the US dollar to the size of the economy of the USA, including the widespread use of the US dollar in the world.
To read or listen: “Continuous deterioration” .. the Turkish, Syrian and Lebanese liras are declining once morest the dollar within one day
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