![European currencies have borne the brunt of selling in foreign exchange markets. Victor Besa / The National](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/5RQBOF7XB2D7IMFIOTWUCSVURY.jpg?smart=true&auth=91206ebfb5245ca3cc68e3fdcd9a2e30b441a5c96faa2730fb7edb48c4c82213&width=400&height=225)
European currencies have borne the brunt of selling in foreign exchange markets. Victor Besa / The National
European currencies have borne the brunt of selling in foreign exchange markets. Victor Besa / The National
UAE residents cash in on weak euro and pound as remittances surge
The currencies plummeted to new lows after the US Fed’s 75-basis point rate increase