Recently, the value of the U.S dollar has been skyrocketing against other currencies, making economic trends more complex for the rest of the world.
The greenback is typically used as a major medium of commodity exchange globally, which means that once its demand goes up, so does its value.
The Russian ruble is the only currency in the world that stands up to the dollar, while the Euro has hit equivalence with the dollar for the first time in about two decades.
According to experts, the dollar strength is mainly attributable to two factors; the rise in US interest rates to curb domestic inflation and the impact of the Russia-Ukraine conflict.
Speaking to The New Times, Straton Habyarimana, an economic analyst and professor at the University of Kigali said that the European sanctions against Russia have only strengthened the dollar at the expense of the Euro.
A strong dollar means an increase in value for…
