March 2023 was quiet for currency movements compared to previous months.
The countries in this month’s exchange rate changes all experienced a depreciation with their currencies due to dollarization, balance of payments, and IMF deal requirements.
The main factors causing currency fluctuations this month are inflation forecasts, changes in domestic money supply, and the United States FED announcement.
The United States’ rate increases continue to impact currency changes and a variety of domestic issues.
The United States’ interest rate hikes, account deficits, and increased spending have all contributed in some way to this month’s currency changes.
This month’s currency changes can be attributed to political uncertainty and foreign reserves changes.
This month’s currencies have been affected by a wide variety of reasons both domestically and internationally.
Food shortages and gas prices continue to negatively impact countries’ abilities to help their people obtain basic needs.
The U.S. Dollar has risen in value comparably to other major currencies including the GBP and EUR causing many smaller economies to be affected.
Many countries have been negatively impacted by the Russian-Ukraine conflict.