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Tuesday, 07 April 2020 - 13:41
US dollar stronger amidst the pandemic
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Analysts say the US dollar is still at the forefront of the global exchange market despite the United States facing a severe disaster due to Covid Nineteen.

The dollar has risen by about 6 percent so far this year, even though it fell to a low in March.

According to analysts, the dollar has not yet lost its status as a world reserve currency. In the event of a disaster even when the American economy is in crisis, investors still rely on the US dollar reserves as  a safe haven.

Although the US Treasury has released trillions of dollars in to the financial market for liquidity, the US dollar has not been not undervalued.

The dollar also rose by 3.5 percent against the euro this year. The Sri Lankan rupee has also fallen sharply against the dollar, with the US dollar selling at 199 rupees and 40 cents.
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