The euro is rising against the dollar after the International Monetary Fund said it is seeking more funding to help heavily indebted countries, The Associated Press reported.
The IMF is proposing to increase its lending resources by $500 billion to meet an estimated $1 trillion of lending needs in the coming years. The loans would mostly help the 17-countries that use the euro.
The euro rose to $1.2816 in midday trading Wednesday, Jan 18, from $1.2722 late Tuesday.
The dollar weakened against most other currencies Wednesday. The British pound rose to $1.5411 from $1.5327. The dollar fell to 76.77 Japanese yen from 76.82, to 0.9432 Swiss franc from 0.9506 and to 1.0131 Canadian dollar from 1.0159.
The market average rate of USD on January 18 in Armenia totaled AMD 388,25 decreasing by 0.57 point compared to January 17.
