Currencies

Equities and oil plunged again on Wednesday after Donald Trump ramped up his trade war by hitting China with tariffs of more than 100 per cent as sweeping measures against the United States’ dozens of partners are set to come into effect.After a brief respite Tuesday from the panic-selling at the start of the week, investors were once again scurrying for the hills amid fears that the US president’s hammer blow to global commerce will plunge the economy into a recession.The two economic superpowers were headed for a vicious standoff...

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The dominance of the US dollar could be under threat due to the market chaos sparked by Donald Trump's tariff blitz on trading partners, policy experts have warned.Despite the US president's high hopes for what he has dubbed "Liberation Day," a trio of senior researchers writing for Foreign Affairs, a magazine specialising in international relations and US foreign policy, have claimed that instead he has risked the value of the currency itself.The authors wrote that the president's "clumsy, erratic attempts to weaponize Washington's economic advantages pose the greatest threat so...

Once thriving, kiosks exchanging damaged currency now dwindle, as digital payments reduce cash use Published Date - 8 April 2025, 08:08 PM Cut note exchange vendors. Photos: Anand Dharmana Hyderabad: The soiled currency notes business is on its last legs. The shops where the soiled currency notes were exchanged for new ones are now dwindling. Once active in markets of the city, a majority of the traders have now shut down the business due to low returns. “People are...

The Pakistani rupee (PKR) closed in red second day in a row 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 280-281/$ 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 bearish 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 PKR depreciated...

Last week might well be remembered as the weak globalisation began to bleed in full public view. Markets reeled not merely because of fresh rounds of retaliatory tariffs between the United States and China, but because they sensed something deeper—a rupture in the global trade order that has underwritten peace, prosperity, and stability for over seven decades. If last week was a warning, this week might offer no reprieve. Especially as India’s own monetary policy committee meets under the shadow of cascading geopolitical risks, the interplay of trade and currency...

By Nurunnasihah Ahmad Rashid KUALA LUMPUR, April 8 (Bernama) -- The ringgit opened lower against the US dollar on Tuesday as investors stayed on the sidelines amid concerns over reciprocal tariff rates set to take effect on April 9, prompting a more cautious tone in the market. At 8.05 am, the local note slipped to 4.4900/5100 against the greenback from Monday’s close of 4.4775/4840. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) had risen steadily to 103.26, reflecting stronger demand...

NEW YORK: Investors bought into safe havens such as the dollar, yen and Swiss franc on Monday as concerns about a global recession heightened following US President Donald Trump’s sweeping tariffs on trading partners. Global markets plunged on Monday, with Wall Street stocks trading lower after Asian shares sank, as investors wagered the mounting risk of a deep economic downturn could lead to a cut in US interest rates as early as May. The risk-sensitive Australian and New Zealand dollars, as well as the Swedish and Norwegian crowns, all dropped...

The dollar has not been immune to the intense volatility that has gripped financial markets this year, particularly in the wake of President Donald Trump’s inauguration last January. That same month, the euro dipped as low as $1.02 amid speculation about potential parity between the two currencies. However, by mid-March, the euro staged a strong rebound, rising to $1.094. The latest blow came with last week’s announcement of the U.S. tariff policy, pushing the dollar down further. The currency is now trading at $1.10 per euro, marking a 6.25% depreciation...

Stock markets are extending a brutal selloff as Trump's trade tariffs spark investor fears.Asian markets are suffering due to concerns over tariffs hitting earnings and economies.Commodities are falling amid recession fears while the Japanese yen has risen as a haven currency.A brutal stock market selloff intensified on Monday as investor fears over the fallout from US President Donald Trump's sweeping new trade tariffs set in.Asia's stock markets opened the week deep in the red as investors fret over the impact of Trump's tariffs on company earnings and economies.The MSCI Asia...