US dollar costs less than SRD 8

The price of one USD on Friday has evidently dropped below SRD 8. Reports indicate that local exchange offices sold each USD for SRD 7.65 while buying each American dollar for SRD 7.65. Sources at various exchange offices told Times of Suriname that the price of the US dollar started dropping about a week ago. Prior to the price drop one USD cost more than SRD 8.10. The price of the USD also slipped on the international market. Reuters on Saturday reported that the dollar slipped on Friday to its lowest against the euro in more than two weeks on reports a foreign bank was preparing to fund an acquisition of a European company. The euro was 0.6 procent higher against the dollar at 1.1317, its highest since March 26. Dealers attributed part of the euro’s strength to anticipated currency demand arising from a Japanese bank’s plans to purchase a German multibillion-dollar aviation finance business. Speculators were buying the euro in response to reports on Mitsubishi UFJ Financial Group’s planned purchase of the aviation financing business of Germany’s DZ Bank, dealers said. The transaction was announced on March 1 and MUFG said the it was expected to close after June.