Has the US dollar gone up because of the stimulus packages & unemployment?

[Bousine123]

I can't categorically say that's the exact reason my friend. There are many factors that might be leading the the currency increasing in value. Maybe because of other countries situation.

 

[Ceeny007]

My country is an import dependent country and 80 percent of what we consume is imported so it's bound to have a negative effect on our currency

 

[Maayong]

Yes it is the most used currency in the world especially in trading and network business and it's being ranked first in the world of currencies

 

[Jhayms07]

The US dollar has been affected negatively in the last few months due to the impact of covid-19 pandemic. It needs more plans to be able to survive it

Yes you're right. Covid 19 took a toll on the dollar causing it's instability and rise. The fact that it is the generally accepted currency is also another factor

 

[Elfinito]

I do not watch the dollar market unless I am doing some exchange from crypto.
But I think the dollar is rising in the recent weeks

 

[YERUS]

The pandemic costed Americans a lot. But, we have also been given a couple stimulus checks already $1200 for the first one I think, $600 for the second and a proposed third one that could pass today for $1400. On top of that, some of us have been able to collect unemployment because of the pandemic. That's even more money on top of it.

So, with all of that support, do you think that the US dollar has gone up in value because of it?

The reason for the increase in the US dollar might not even be due to unemployment.
Well, since i have not been following up the economic situation of the US, i think the reason for the increment is far-fetched for me.

 

[Toyoabasi]

The pandemic costed Americans a lot. But, we have also been given a couple stimulus checks already $1200 for the first one I think, $600 for the second and a proposed third one that could pass today for $1400. On top of that, some of us have been able to collect unemployment because of the pandemic. That's even more money on top of it.

So, with all of that support, do you think that the US dollar has gone up in value because of it?

I have no idea on this.
I am sure the US dollar has dropped because of the pandemic...but for unemployment or whatever reason, I cannot say.

 

[Essy]

Yes I think that the stimulus package that the US citizens are getting is one if the reason the dollar is reducing in value, because that money was supposed to be lumped into the economy but is going into people's pockets instead

 

[Adecyptii]

The US dollar tends to increase,but o doubt if it increase in rate because of the pandemic,but maybe it increase as the result of the nation economy.

 

[Good-Person]

I believe that the rate of dollar goes up when the country suffers from inflation and bad debts. This is exactly what is happening in many countries. When the government borrows money, they also need to pay it back and they pay it back by raising taxes and this increases inflation and it could damage the economy of the country.

 

[Smiles20]

The United States was one of the few countries that really took the welfare of their citizens well during the pandemic. This is why their economy is not really doing badly and I thought you can understand why even the currency is performing good.

 

[Sotherefore]

There are a lot of things that could lead to the currency of the United States going down and not really on this alone, it has to do with the economy and so many other factors.. war trade could also bring down the economy of a particular country most especially in powerful nation like United States.

 

[HayKay]

Yeah that's true. Another thing that has made the dollar to increase is the rising costs of oil prices around the globe. The pandemic seems to not have an effect on the prices anyways.

 

[CeeJase]

The pandemic costed Americans a lot. But, we have also been given a couple stimulus checks already $1200 for the first one I think, $600 for the second and a proposed third one that could pass today for $1400. On top of that, some of us have been able to collect unemployment because of the pandemic. That's even more money on top of it.

So, with all of that support, do you think that the US dollar has gone up in value because of it?

Over here in my country Nigeria the United States dollar is always increasing while the value of Nigerian currency is always going down which shows how useless our currency is over other currencies of the world.

 

[Bousine123]

I think it was simply because many businesses, demanded their cash in dollars during the pandemic that is why, during the pandemic many investors carried out their crypto currency transactions in dollar also.

 

[Grandeur]

There are various reasons for the rise of the US dollar, stimulus package and benefit is one but then another factor is external reserves and country deficit, this simply means that the more other countries demand for dollar and become more indebted to the us, dollars increases.

You are correct, the US dollar being the benchmark for external reserves in the general market is one reason why the US dollar will have value because of its high demand in the market.

 

[ganibade]

Pandemic affected all countries and affected country economy. This make dollars to high because of unstable economy that lead to unemployment. This unemployment was spread to employees because no materials and production,the make enterpreneur to retreach workers.

 

[greenie]

I don't know the indices used in the us to measure the value of it's currency. But if what you described going on with the stimulus package given robots citizens as a result of pandemic is anything to go by, then the value must have really increased.

 

[Sotherefore]

Pandemic affected all countries and affected country economy. This make dollars to high because of unstable economy that lead to unemployment. This unemployment was spread to employees because no materials and production,the make enterpreneur to retreach workers.

If the pandemic affected all countries it should have also affected the US , so then how come that the US dollar is rising then other countries currency is even down, I don't understand.

 

[Genie01]

I was told by my mentor that the forex market is largely controlled by interest rates .
It is interest rates that dictates the direction of the market in a macro perspective