Key Currency Exchange Rates for Friday, 7/28/23

Oil has struggled to recover losses from last month’s broader market slump after topping $66 a barrel in January. While a brighter economic outlook has underpinned demand expectations following a better-than-expected U.S. jobs report, expanding American production remains a challenge to the Organization of Petroleum Exporting Countries and its allies, which are trying to prop up prices via output curbs. Production from shale regions will reach 6.95 million barrels a day next month, the U.S. Energy Information Administration said in its monthly drilling report. The Permian Basin is seen leading the way with an 80,000-barrel increase. Total American output has passed 10 million barrels a day, beating a record set in 1970. Click Read More below for additional information.

American Dollar to Canadian Dollar = 0.830190; American Dollar to Chinese Yuan = 0.155479; American Dollar to Euro = 1.218656; American Dollar to Japanese Yen = 0.009191; American Dollar to Mexican Peso = 0.050207.

Wolff Olins has appointed Sairah Ashman as CEO. The first female head of the creative consultancy, she has been with Wolff Olins for 23 years, seven of them as Global COO. Former CEO Ije Nwokorie says, “Sairah is one driven leader; privately and professionally committed to making a positive impact in the world. She’s an important voice for equality in our industry and I am excited by our continuing partnership.”