Currencies

The Pakistani rupee (PKR) closed in red to start the fourth month of 2025 against the US Dollar (USD) today after opening trade at 281 in the interbank market. On a day-on-day (DoD) basis, the interbank rate stayed at 280-282/$ most of the day before closing at the 280 level. Open market rates across multiple currency counters remained at the 281-282 level today. It was stable all day and closed in red against the greenback. Meanwhile, it posted losses against most of the other major currencies during today’s session. The...

The U.S. has imposed a 26% tariff on imports from India, dealing a blow to New Delhi's hopes for leniency under President Donald Trump’s global trade policies. A baseline 10% tariff begins Saturday, with the full rate effective April 9. Trump cited India's 52% tariffs on U.S. goods as justification, calling the move a reciprocal measure. India now faces new challenges in sectors like electronics and gems and jewellery, which represent nearly $23 billion in exports. However, the U.S. exempted Indian pharmaceutical exports—worth around $9 billion annually—providing relief to the...

Donald Trump announces 26% ‘discounted reciprocal tariff’ on India | Video Credit: The Hindu U.S. President Donald Trump on Wednesday (April 2, 2025) listed the high tariffs charged by India on American products as he announced reciprocal tariffs on countries across the board, declaring a 26% “discounted reciprocal tariff” on India. President Donald Trump departs after signing an executive order at an event to announce new tariffs in the Rose Garden of the White House on April 2, 2025. | Photo Credit: AP “This is Liberation Day, a long-awaited moment....

South-east Asian stocks and currencies fell after Asian emerging nations were given some of the biggest tariff increases by US President Donald Trump. Vietnamese shares tumbled.Vietnam’s main stock index slid as much as 6.2 per cent, heading for its biggest one-day drop in more than four years, while equities in Thailand, the Philippines, Malaysia and Singapore also declined. The Thai baht weakened as much as 0.8 per cent against the dollar, and the Vietnamese dong and Malaysian ringgit also dropped.South-east Asian assets slipped after the region was hit particularly hard...

Despite initial volatility during Trump's announcement, sterling benefited from the UK's comparatively lower 10% tariff rate. This more favourable treatment reflects Britain's balanced trade relationship with the US. "It is not just sterling strength though, it is US dollar weakness – hence the mixed performance of other GBP crosses whilst the USD is lower across the board. "This is understandable because ultimately, US consumers and businesses shoulder the higher import costs – and US recession risks have shot up, dragging US yields lower," George explains. UK fintech companies may find...

After Trump on Wednesday unveiled a raft of punishing “Liberation Day" tariffs, stock futures tumbled. The U.S. dollar whipsawed against major currencies. This highlights the confusion that has overtaken Wall Street regarding how to trade the U.S. currency. Most analysts have insisted that tariffs should push it up, reflecting how potential fewer purchases of overseas goods would narrow the trade deficit and mechanically reduce U.S. demand for foreign exchange. Also, U.S. growth is outpacing the eurozone’s, which has historically been dollar-positive. Yet this isn’t how it has played out so...

It's a risk-off day in Asia as traders look to Beijing's response to U.S. President Donald Trump's sweeping reciprocal tariffs on China and other Asian nations.On Wednesday, Trump announced tariffs on imports from 180 nations, including trading partners identified as the worst offenders, such as China and the European Union.The president imposed a new 34% tariff on goods from China in addition to the existing 20% tax, bringing the total levy to 54%, the highest for any nation. The action did not affect Canada and Mexico.Observers say the ball is...

Beyond trade, the move could disrupt currency markets, capital flows, and corporate strategies worldwide. While India faces fresh challenges, the shift may also create unexpected opportunities in an evolving global trade landscape. Read this | Trump’s tariff strike: India hit with 26% duty as trade war escalates The tariffs provide India with greater clarity on sectoral impacts and corporate cash flows. However, Indian businesses must now shift focus from cost competitiveness to innovation, said Sachchidanand Shukla, group chief economist at Larsen & Toubro. "The INR (Indian Rupee) could remain under...

Listen to article Global markets experienced severe turbulence on Thursday after US President Donald Trump announced sweeping tariffs, including a baseline 10% duty on all imports and higher levies on key trading partners. The news led to sharp declines in stock markets, falling currencies, and rising commodity prices, with analysts warning of broader economic impacts. Futures on US indices tumbled, with the S&P 500 dropping more than 3%, while Asian markets also suffered significant losses. The Nikkei 225 in Japan fell by over 3%, while Hong Kong’s Hang Seng and South Korea’s...

US President Donald Trump as part of his sweeping reciprocal tariff measures has levied a 26 per cent tariff on imports from India. The announcement comes as he calls India's tariffs as 'very, very tough'. Further, he calls his move as a 'kind reciprocal' as the tariffs levied are half of what India levies on US products. Trump laid out the U.S. “reciprocal tariff” rates that more than 180 countries and territories, including European Union members, will face under his sweeping new trade policy. Referring April 2 as "Liberation Day",...