The Worst Month for the Dollar in 2023

Trading platform data indicates that the decline of the dollar against major currencies in November 2023 may be the strongest this year. In Thursday's trading, the U.S. currency exhibited relative stability, with the euro rising to $1.0969 by 08:33 Moscow time, after closing yesterday at $1.0968. Meanwhile, the dollar fell against the yen from 147.24 yen to 147.07 yen, and the U.S. dollar index, which measures the value of the dollar against a basket of major currencies, increased by 0.03% to 102.8 points. Throughout the month of November 2023, the dollar index has dropped by 3.6%, with the dollar separately losing 3.7% against the euro and 3% against the yen. For the euro, this decline in the dollar during the current month is the strongest since November 2022, and it is the lowest against the yen since last December.