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.
In late February 2022, Russia invaded Ukraine by means of airstrikes and infantry. This major conflict has driven several countries’ currencies to depreciate as political stability decreased in the area.
Turkey’s annual inflation has been soaring to record-high levels since the currency devaluation triggered by interest rate cuts last year.