The past two years have been a revolutionary period in the history of humanity’s existence. The coronavirus struck in late 2019, leaving the world in shock. Global lockdown stayed in place throughout the entirety of 2020, adversely affecting global markets and the economy. Foreign currency exchange suffered a lot as a result of the restrictions on travel and business. Even one of the best foreign exchanges in India, RRSB Forex, had a hard time trying to combat the challenges posed to the business by COVID-19 complications. The major part of 2021 has been a year of cleaning up, after the mess left by the pandemic. Let’s check out the landscape of the three major currencies from across the world to get a picture of how the market stands.
Perhaps one of the most currencies in the world, US Dollars did not have a favorable outing this year. Depreciating by a margin of 10% is something that will put a wrinkle on the forehead. The data of US retail sales is something that has exceeded even the highest estimates. US Dollars is seemingly on the rise again, which begs question on the fiscal stimulus of 1.9 trillion USD that has been issued.
The currency of the European Union has enjoyed a pleasant year in 2021. It has appreciated by 10% despite all the challenges that the market had to endure. Its value has remained fairly consistent throughout the period and is showing a lot of promise in the next few years to come.
Great Britain Pound:
The Great Britain Pound has been more than profitable in the past year. Pound Sterling has appreciated by a margin of 10%, hitting the highest value in two years since April 2018. With the UK easing on its lockdown restrictions, the currency is predicted to fare even better in the coming months. The rapid deployment of COVID-19 vaccines in the kingdom also had a major role to play in this achievement. With the stabilization of the British economy, the near future seems bright for the Pound. Support for the Pound also came in the form of lowering expectations of the negative interest rates, as well as cutting a trade deal with the European Union following Brexit.
Being one of the best foreign exchanges in India, RRSB Forex has been consistently providing unmatched foreign currency exchange rates for their customers to enjoy. The competitive rates along with minimal convenience charges have solidified their position as a top foreign currency exchange in this demanding economy. With markets reopening and economies stabilizing, the prospects seem brighter than what had been the previous year. As a result, RRSB Forex is striving to provide an even better experience to their customers through online as well as in-store transactions.
May 06 2022
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