Dollar weakens on international markets after US Government shutdown
October 1st, 2013 (InsideCostaRica.com) The dollar fell in Asia on Tuesday as the United States lurched into its first government shutdown in 17 years due to a budget standoff.
The greenback bought 98.16 yen in Tokyo afternoon trade after US lawmakers missed a midnight deadline to avert the shutdown, down from highs of around 98.70 in morning trade and 98.21 yen in New York on Monday afternoon.
In other trading, the euro edged up despite a political row in Italy that threatens the future of the country’s young government. The single currency fetched $1.3547 and 132.93 yen compared with $1.3524 and 132.81 yen in US trade.
The dollar was mostly lower against other Asia-Pacific currencies.
It slipped to 62.35 Indian rupees from 62.78 rupees the previous day, to Sg$1.2531 from Sg$1.2570, to 31.21 Thai baht from 31.39 baht, to 43.31 Philippine pesos from 43.53 pesos, to 11,239 Indonesian rupiah from 11,655 rupiah, and to Tw$29.54 from Tw$29.56.
The impact of the U.S. government shutdown on the local colon exchange rate in Costa Rica – if any – won’t be clear until tomorrow. However, it will likely have less of an impact in Costa Rica than world markets, as local exchange rates versus the dollar tend to be driven more by supply-and-demand of the greenback in the country, rather than speculation.
AFP contributed to this report.
ATTENTION: If you are seeing this message,
