Currencies

India’s forex reserves dropped by $1.237 billion to $691.485 billion for the week ended May 30, the RBI said on Friday. The overall reserves had jumped by $6.992 billion to $692.721 billion in the previous reporting week. The forex reserves had touched an all-time high of $704.885 billion in end-September 2024. Earlier in the day, RBI Governor Sanjay Malhotra said that at $691.5 billion, the reserves are sufficient to fund more than 11 months of goods imports and about 96 per cent of external debt outstanding. For the week ended...

MUMBAI: The Indian rupee strengthened modestly on Friday as the Reserve Bank of India’s steepest rate cut in five years boosted local equities, helping the South Asian currency eke out a gain even as the dollar firmed against major peers. The rupee closed at 85.6250 against the U.S. dollar, up from its close at 85.79 in the previous session. The rupee declined 0.2% on the week. The Reserve Bank of India (RBI) cut its key repo rate by 50 basis points on Friday and slashed the cash reserve ratio (CRR)...

(Bloomberg) -- Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here. Markets across much of emerging Asia traded in a narrow range ahead of US payrolls data, with the exception of Indian bonds that swung wildly after a bigger-than-expected interest-rate cut. Bloomberg’s Asia Dollar Spot Index dipped 0.1% on Friday, with the stock benchmarks in Taiwan, Hong Kong, and mainland China also slipping. Bucking the trend was India, where the Nifty 50 advanced and the 10-year bond yield slid...

* MSCI's gauge of Asian emerging market equities down 0.2% * Trump, Xi agree to further trade talks * U.S. jobs, non-farm payrolls data due Friday By Roshan Thomas June 6 (Reuters) - Asian currencies were steady on Friday but on track for weekly gains, while regional stock markets edged lower after U.S. President Donald Trump and Chinese leader Xi Jinping agreed to further trade talks in a telephone call. MSCI's index of emerging market currencies was flat after touching an all-time high on Thursday. For the week, the index...

Asian currencies traded flat to slightly lower on Friday as traders remained cautious ahead of key U.S. nonfarm payrolls data and India’s central bank decision. A call between U.S. President Donald Trump and China’s Xi Jinping offered little relief to concerns over stalled trade negotiations. The dollar hovered near a six-week low, with the dollar index down about 0.6% this week. Market focus was on May’s jobs report, expected to show further signs of a cooling U.S. labor market. Recent weak labor data has intensified expectations that the Federal Reserve...

Asian markets stuttered on Friday as optimism from “very positive” talks between presidents Donald Trump and Xi Jinping was wiped out by the stunning public row between the US leader and Elon Musk.The much-anticipated discussions between the heads of the world’s biggest economies fuelled hopes for an easing of tensions following the US leader’s “Liberation Day” global tariff blitz that targeted Beijing particularly hard.However, investors remained wary after an extraordinary social media row between Trump and billionaire former aide Musk that saw the two trade insults and threats, and sent...

Tajuddin Ahmed endured the worst-ever slur on his political career due to an outrageous and mischievous campaign orchestrated against him very subtly from behind the scenes by his inimical party colleagues. Following his government’s return from Mujibnagar, they spread a malicious rumour that Tajuddin’s decision to get one taka denomination currency notes printed by the government of India’s Security Printing Press at Nashik had opened the floodgates for India to wreck Bangladesh’s economy. Before leaving Calcutta, Tajuddin had placed an order for printing 80 crore notes of one taka denomination...

BENGALURU: Asian currencies were subdued on Thursday with investors tracking developments in US trade negotiations, while South Korean stocks led gains among regional equities on optimism around President Lee Jae-myung’s pro-growth policies. In South Korea, shares rose 1.5% to their highest since July 2024, after gaining 2.7% on Wednesday. The won advanced 0.3% to hit an eight-month high. South Korea’s new President Lee held his first cabinet meeting on Thursday, focusing on an emergency package to tackle stagnating economic growth and provide household relief. MSCI’s gauge of Asian emerging market...

India and Central Asian states on Thursday decided to widen counter-terror, trade and connectivity initiatives as external affairs minister S Jaishankar met Central Asian ministers here on the eve of the third India-Central Asia Dialogue.During bilateral meetings with foreign ministers of Kazakhstan, Uzbekistan, Tajikistan, Kyrgyzstan and Turkmenistan, there were detailed discussions on expanding security cooperation in the backdrop of Pahalgam terror attacks, besides boosting trade ties and connectivity initiatives.Central Asian states of Uzbekistan, Tajikistan and Kyrgyzstan have been facing increasing threats from cross-border terror infrastructure in the Af-Pak region. Later,...

External Affairs Minister S. Jaishankar said more efforts and resources need to be invested in improving India’s connectivity with Central Asia. Photo: X/@DrSJaishankar via PTI More efforts and resources need to be invested in improving India’s connectivity with Central Asia, said External Affairs Minister S. Jaishankar on Thursday (June 5, 2025), highlighting the need for intensifying trade through the port of Chabahar in Iran. Speaking at the India-Central Asia Business Council meeting ahead of the fourth India-Central Asia Dialogue that is scheduled for Friday (June 6, 2025), Mr. Jaishankar expressed...