Currencies

Asian currencies traded in tight ranges on Friday, while the U.S. dollar saw a modest rebound after a federal appeals court reinstated former President Donald Trump’s tariffs, reversing an earlier trade court decision. Investors now await the Personal Consumption Expenditures (PCE) price index— the Federal Reserve’s preferred inflation gauge—due later in the day, for further economic cues. Market sentiment remained cautious as U.S. Treasury officials confirmed a stall in trade talks with China, undermining optimism from earlier tariff de-escalation. The Japanese yen outperformed regional peers, rising 0.3% against the dollar,...

"The bigger issue is that we have had a lot of policy uncertainty which got going in the first quarter but really took off with Liberation Day and all the volatility around the tariffs in the first weeks of April which is after the Q1 GDP report period," says Arnab Das, InvescoWith the US GDP down 0.2%, are we seeing early signs of policy induced taxation risk according to you?Arnab Das: Look, there is an element of that. What happened to drag down GDP growth in the first quarter was...

Listen to article ISLAMABAD: The federal government and the central bank reiterated on Thursday that the use of crypto currencies was illegal and anyone dealing in these currencies was liable to be investigated by the Financial Monitoring Unit (FMU) and the Federal Investigation Agency (FIA). The statements were made by Federal Finance Secretary Imdad Ullah Bosal and State Bank of Pakistan (SBP) Executive Director Sohail Jawad during a meeting of the National Assembly Standing Committee on Finance. The development also came a day after the newly appointed Special Assistant to Prime Minister...

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...