Currencies

MUMBAI: The Indian rupee is poised to open higher on Friday, after the U.S. dollar’s rally, which was sparked by a U.S. court ruling on tariff policy, proved short-lived. The 1-month non-deliverable forward indicated a open in the 85.36-85.40 range, versus the previous session’s close of 85.5075. So far this week, the Indian currency has been in a 84.78 to 85.70 range and is on track for a marginal weekly decline. Indian rupee to open nearly flat, holds upper hand as dollar remains vulnerable The rupee “is in a space...

Indian Rupee posts modest gains in Friday’s Asian session. The downbeat US economic data and uncertainty of Trump's policies weigh on the US Dollar. Traders brace for India’s Q1 GDP and US April PCE inflation reports, which are due later on Friday.The Indian Rupee (INR) gains ground on Friday, snapping the three-day losing streak. The downbeat US economic data and concerns that a US court ruling would change the outlook for US tariffs undermine the US Dollar (USD). A decline in crude oil prices provides some support to the Indian currency, as...

BENGALURU: Asian currencies traded lower on Thursday as the dollar strengthened after a US trade court halted the implementation of President Donald Trump’s “Liberation Day” tariffs. The MSCI index of emerging market currencies was down 0.2%. The Singapore dollar dropped as much as 0.7% to its lowest point in more than a week, while the Malaysian ringgit and the Thai baht fell 0.4% each. The Court of International Trade ruled that Trump overstepped his authority by imposing across-the-board duties on imports from nations that sell more to the United States...

NEW YORK/SINGAPORE, May 29 (Reuters) - Wall Street displayed resilience on Thursday, maintaining its gains amidst fresh tariff turmoil. A federal appeals court reinstated President Donald Trump's tariffs, a day after a trade court blocked most of them from going into effect, yet the S&P 500 held firm.The dollar on the other hand weakened against safe-haven currencies like the yen and Swiss franc, as investors tussled with the uncertainty and volatility the tariffs have reintroduced. Markets seem poised to navigate this unclear terrain, characterized by the back-and-forth nature of...

India is likely to float a discussion paper next month outlining policy framework options for crypto assets amid growing acceptance for them, thanks in large part to US President Donald Trump embracing digital currencies, people familiar with the matter said. The discussion paper is likely to draw from the synthesis paper prepared by the International Monetary Fund (IMF) and the Financial Stability Board (FSB) while seeking opinions on practices being adopted by various jurisdictions. “The discussion paper on crypto assets is being given finishing touches,” said one of the persons...

Mumbai: The number of fake Indian currency notes detected in the banking system fell for the third consecutive year, reflecting improved security features and greater vigilance. According to RBI’s annual report for 2024-25, counterfeit notes identified dropped to 2,17,396 in FY25, down from 2,22,639 in FY24 and 2,25,769 in FY23.The decline was mainly seen in denominations of Rs 10, Rs 20, Rs 50, Rs 100, and Rs 2,000, although counterfeit Rs 200 and Rs 500 notes increased. RBI credited this trend to the modernisation of currency management and enhanced security...

The African Development Bank (AfDB) has predicted that the naira and several other African currencies will depreciate in 2025 and 2026AfDB projected that the naira will lose six per cent of its value during the projected period, citing global economic shocksThe AfDB reports came as the naira depreciated against the US dollar in the official market on Wednesday, May 28, 2025Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.The second half of the year will be challenging for the Nigerian currency, the...

The expenditure incurred on security printing during 2024-25 increased by nearly 25 per cent to ₹6,372.8 crore as against ₹5,101.4 crore in the previous year mainly due to increase in indent for printing of banknotes, according to the RBI's annual report released on Thursday. The value and volume of banknotes in circulation increased by 6 per cent and 5.6 per cent, respectively, during 2024-25. "During 2024-25, the share of ₹500 banknotes at 86 per cent, declined marginally in value terms," said the RBI's Annual Report for 2024-25. In volume terms,...

  Rupee weakened by 10 paise to close at 85.48 (provisional) against the US dollar on Thursday, pressured by a strengthening dollar overseas and a rise in global crude oil prices. Forex traders noted that gains in the domestic equity markets and foreign capital inflows helped limit the local currency's fall. At the interbank foreign exchange market, the rupee opened at 85.56 and traded between an intra-day low of 85.62 and a high of 85.40 before settling at 85.48, marking a 10 paise decline from Wednesday’s close of 85.38. Anuj...

What will Trump do next? Here are three scenariospublished at 10:21 British Summer Time10:21 BSTImage source, ReutersHope for a favourable ruling from a higher courtTrump looks set to appeal the ruling through the courts, a route which will see the government first take the case to the US Court of Appeals for the Federal Circuit in Washington, DC. It could ultimately go to the US Supreme Court, which is already considering other cases about the scope of presidential power.Shift the legal basis for reciprocal tariffsThe tariffs court ruling said Trump...