US dollar continues to decline in 2023

US dollar continues to decline in 2023

MANAMA: Mahmood Rafique, Editor: The 40-year record gains recorded by the US dollar against Euro and other countries last year may not hold grounds this year and expected to depreciate further later in 2023.

This was a crux of a panel discussion marking the annual forecast dinner held at the Royal Saray Resort on Saturday and attended by Shaikh Ahmed bin Mohamed Al Khalifa, Auditor-General as a Chief Guest and as Rasheed Al Maraj, Governor of the Central Bank of Bahrain as Guest of Honour.

The experts were of the view that the US dollar has already depreciated 10 per cent against Euro and this downward trend by the dollar likely to continue in 2023 as other global currencies will make further gains.

The GCC region’s economic outlook remains positive with Saudi Green Initiative to achieve net zero carbon omissions by the year 2060 and with half of Saudi energy needs to be met by the green energy by the year 2030, a giant step towards reducing the carbon footprint in the Kingdom.

CFA Society Bahrain, the local society of investment professionals, organised its 2023 Charter award ceremony on under the patronage of Shaikh Ahmed bin Mohamed Al Khalifa, Auditor-General of