Currencies

Global stocks remained in a narrow band on Tuesday, with the dollar regaining some lost ground against Asian currencies. Investor concerns have resurfaced over U.S. tariffs' implications on economic growth, coupled with oil producers' commitments to boost supply, keeping crude prices near historic lows. The erratic trade policies of President Donald Trump have sparked major waves of dollar selling since April. This trend has lifted the euro, yen, and Swiss franc, with the Taiwan dollar reaching record levels, prompting speculation over potential regional foreign exchange revaluation to secure U.S....

Indian stock markets witnessed a subdued opening on Tuesday as benchmark indices remained nearly flat, with investors keeping a keen eye on impending global developments, especially the U.S. Federal Reserve's policy meeting commencing later today. Geopolitical tensions between India and Pakistan further tempered market sentiments, although the steady influx of investments from foreign portfolio investors (FPIs) provided some support to Indian equities.The Nifty 50 index initiated trading at 24,500.75, reflecting a rise of 39.60 points or 0.16 percent, while the BSE Sensex opened at 80,907.24, marking an increase of...

Rupee traded in a narrow range on Tuesday, slipping 8 paise to 84.38 against the US dollar in early trade amid a stronger dollar index, weakness in Asian currencies, and lingering geopolitical tensions between India and Pakistan. At the interbank foreign exchange, the rupee opened at 84.28 and moved between an early high of 84.26 and a low of 84.38 against the greenback. The domestic currency had closed at 84.30 on Monday, registering a 27 paise gain. Forex traders said that while the USD/INR pair remained under pressure from global...

The dollar rose in Asia on Tuesday fuelled by hopes for trade deals to avert Donald Trump’s sweeping tariffs, while equities mostly rose as investors await the Federal Reserve’s latest policy decision.Oil also staged a comeback after tanking on news of an output hike by key producers that came despite growing concerns about demand and the outlook for the global economy.While no agreements have yet been reached with the White House, there is optimism that governments are making progress in averting or tempering the US president’s eye-watering levies, which have...

The U.S. dollar weakened on Tuesday as sharp gains in the Taiwan dollar triggered strength across Asian currencies, raising doubts about the greenback’s resilience. The Taiwan dollar soared 8% over two days, touching a three-year high of 29.59 per dollar after U.S.-Taiwan trade talks in Washington, before stabilizing at 30.02. Markets speculated that the appreciation was unofficially sanctioned, though Taiwan’s central bank denied any deal. The Hong Kong Monetary Authority intervened by buying $7.8 billion to defend its currency peg to the U.S. dollar, highlighting broader currency tensions in the...

Representative image | Photo Credit: Reuters The Supreme Court on Monday (March 5, 2025) said trading in Bitcoin in India is like "dealing with a refined way of Hawala business" as it lamented that the Centre has till now not come out with a clear regime on regulating virtual currency. A bench of Justices Surya Kant and N. Kotiswar Singh made the remarks while dealing with a bail application of Shailesh Babulal Bhatt who was arrested by the police for alleged illegal Bitcoin trade. The bench said that two years...

By Rae Wee and Samuel Shen SINGAPORE/SHANGHAI (Reuters) -A wave of dollar selling in Asia is an ominous sign for the greenback as the world's export powerhouse starts to question a decades-long trend of investing its big trade surpluses in U.S. assets. Ripples from Friday and Monday's record rally in the Taiwan dollar are now spreading outward, driving surges for currencies in Singapore, South Korea, Malaysia, China and Hong Kong. The moves sound a warning for the dollar because they suggest money is moving in to Asia at scale and...

NEW YORK – The US dollar got a fresh jolt to start the week as speculation around potential trade deals sparked an extraordinary spike in Taiwan’s currency and reverberated across global foreign exchange markets. Already under pressure as President Donald Trump’s economic agenda dents attitudes around American assets, the greenback weakened further on May 5 against most major currencies, with a Bloomberg gauge of the dollar falling about 0.2 per cent as of 1.20pm in New York. Taiwan’s dollar led gains among the 16 major peers tracked by Bloomberg, earlier jumping...

The recent rally in currencies of trade-dependent Asian economies is fuelling concerns among central bank policymakersPublished Tue, May 6, 2025 · 07:06 AM Hong Kong authorities said they continued to purchase US dollars in an attempt to defend the foreign exchange peg. The Hong Kong Monetary Authority spent a record HK$60.5b on the US currency, according to an alert sent on its Bloomberg page on Tuesday (May 6) in Asia, after the city’s currency tested the upper end of its trading band. The purchase adds to the HK$56.1 billion it...

The US dollar got a fresh jolt to start the week as speculation around potential trade deals sparked an extraordinary spike in Taiwan’s currency and reverberated across global foreign exchange markets.Already under pressure as US President Donald Trump’s economic agenda dents attitudes around American assets, the greenback weakened further on Monday (May 5) against most major currencies. A Bloomberg gauge of the US dollar wrapped up the session in New York about 0.2 per cent lower after paring earlier declines. Taiwan’s dollar led gains among the 16 major peers tracked by...