Facebook Pinterest Search Icon SourcingJournal_horiz Tumbler Twitter Shape photo-camera graph-trend Shape latest-news icon / user

Currency Brief: Dollar Strength Continues in November

COVID-19 recovery is on the horizon but the pandemic's impact on sustainability, retail, product development and consumer buying patterns means the denim industry must evolve. Join Rivet on April 20th at 11 am ET for the COVID, One Year Later roundtable.

The U.S. dollar continued to strengthen in November compared to most apparel-relevant currencies.

For the January to November period, the U.S. dollar index, a measure of the value of the dollar against a basket of foreign currencies, has risen by more than 10 percent, with many economists expecting the trend to continue through 2015.

Though the strong dollar protects against inflation and gives U.S. companies and consumers more buying power abroad, it’s tough on the many U.S. companies with big overseas businesses. Many U.S. retailers have begun to expand into markets in Europe, the Middle East, Asia and South America, and may find those strategies less attractive given the exchange rate trends.

Following are some key currency moves for the month of November.

The euro fell by 0.64% against the U.S. dollar during the month, increasing its year-to-date decline to almost 11 percent. The currency is down by over 9 percent compared to the same month last year.

CurrencyEuro

The pound dropped by 2.36% percent in the month, putting it behind by 4.4% on a year-to-date basis.

CurrencyPound

The Indian rupee dipped 1.33% against the dollar in November and is down by 0.2% year-to-date. Compared to this time last year, however, the currency is up slightly.

CurrencyIRupee

The Indonesian rupiah decreased by 1 percent, resulting in a year-to-date decrease of 0.8%, and a year-over-year decline of more than 3.3%.

CurrencyRupiah

The Pakistani rupee rose by 1.1% in November, up 6 percent from the same month last year, and almost 5 percent for the year to date.

CurrencyPRupee

The Chinese yuan edged up nominally against the dollar in November, and ended the month 0.34% lower for the year so far.

CurrencyYuan

The Bangladeshi taka, which is loosely pegged against the U.S. dollar, was up negligibly in the month.

CurrencyTaka

In November, the Vietnamese dong fell in value very slightly against the dollar, and is down almost 1 percent on a year-to-date basis.

CurrencyDong

At the end of October, the yen jumped after the Japanese Central Bank eased monetary policy to combat inflation. In November, however, it fell again, down by more than 7 percent for the month, and 15 percent year-to-date.

CurrencyYen

Currency

Related Articles

More from our brands

Access exclusive content Become a Member Today!