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Currency Brief: Euro Surges 4.1% in April

The dollar weakened in April against most world currencies, with the U.S. dollar index closing down 3.6% for the month.

Virtually all key apparel currencies strengthened relative to the dollar in the month, with the euro and pound sterling gaining the most ground. The Indian rupee weakened the most against the greenback in the month.

The euro rose by 4.1% against the U.S. dollar in April, closing the month at $0.89. Though it remains more than 23 percent below year-ago levels, last month’s increase was the biggest monthly gain in more than two years.


The U.K. pound sterling jumped 4.4% against the dollar in the month.


The Chinese yuan edged up by 0.5% against the dollar in April.


The Indian rupee, by contrast, dipped by 1.6% compared to the dollar in April, following a similar decline in March, putting it 5.4% below its value at this time last year.


The Indonesian rupiah gained 1.1%.


The Pakistani rupee rose negligibly, finishing the month virtually flat against the dollar.


The Bangladeshi taka dipped by 0.5%.


The Vietnamese dong edged down by 0.2% relative to the dollar.


The Japanese yen rose by 1.3% in April, though remains almost 16 percent lower than last year at this time.