Currencies

The ruble has strengthened against the dollar by approximately 12% since the beginning of April, demonstrating the best performance of any world currency, according to Bloomberg. According to Bloomberg, the ruble exchange rate against the dollar has fallen to its lowest level since February 2023. The agency cites high energy prices amid the US-Israel war against Iran as the reason for this trend. For the second year in a row, the ruble has strengthened, contrary to economists' forecasts. Analysts surveyed by the agency believe that this may indicate an overvalued...

Mumbai, May 19: The rupee remained under pressure on Tuesday as elevated crude oil prices, persistent foreign fund outflows and weakness across Asian currencies continued to weigh on sentiment, keeping the currency near record lows against the US dollar. The rupee was trading at 96.3625 per dollar after touching an all-time low of 96.3875 in the previous session, with traders expecting continued volatility amid fragile global risk appetite and concerns over India’s widening trade deficit. To be sure, the rupee had started two paise lower today at 96.37 per dollar Some Support The rupee...