Dubai – Mubasher: The U.S. dollar exchange rate rose against a basket of global currencies on Thursday, after the U.S. Federal Reserve rate decision.
The Federal Reserve voted unanimously on Wednesday to raise interest rates by a quarter point, marking the first increase in more than nine years.
The bank raised its fed funds rate to a range of 0.25% to 0.5%, ending an unprecedented seven-year run of near-zero interest rates. The board also raised the discount rate to 1% from 0.75%.
The dollar rose against the basket of currencies by 0.30%, which is the higher level for the dollar index in ten days.
At 9:30 GMT, the greenback rose by 0.40% to 1.0869 euro per dollar and 0.07% to 1.4987 sterling per dollar. It rose by 0.12% to 122.38 dollar per yen.
