The US dollar dropped to Ks1,510 in the local currency market, down Ks60 on December 4.

The US dollar index in the global market hit 95.21 point in June, 95.39 point in July, 96.85 in August, 95.48 in September, 96.87 in October, 97.52 in November and around 96.61 point in December.

Since June, the foreign currency exchange rate has increased significantly. On July 30, the currency exchange rate hit a record high of Ks 1,440 per dollar. The value of a US dollar increased from Ks 1,570 on August 16 to Ks1,650 on September 20. On October 11, the value of a US dollar reached Ks1,600.

Since May, the global US dollar index has increased significantly. The minimum and maximum currency exchange rates in the local market are: Ks 1,345-1,407 in June, Ks 1,348-1,443 in July, Ks 1,442-1,570 in August, Ks 1,538-1,650 in September, Ks1,515-1,600 in October, Ks 1,565-1,595 in November. On December 4, the central bank’s reference rate was Ks 1,570 per dollar.

One Euro is exchanged for Ks 1,750, Singapore dollar, for Ks 1,135, Malaysian ringgit, for Ks 365 and Thai Baht, for Ks 48.

The value of US dollar continues to be strong in the global market. The dollar reference rate is expected to decline as the US’s central bank is not likely to increase the interest rate, investments in the financial market of the world big economies may decline and there will be the use of other currencies for the settlement of money for the commodity like oil instead of dollar.