Currencies

MUMBAI: The Indian rupee weakened on Tuesday as dollar bids from foreign banks, likely on behalf of custodial clients, and a softer Chinese yuan outweighed positive cues from broad weakness in the greenback. The rupee closed at 85.6350 against the US dollar, down about 0.3% on the day. Asian currencies were mixed on the day while the offshore Chinese yuan dipped lower after China cut key benchmark lending rates and corporate seasonal demand for dollars remained high. A fall in local equities also weighed on the rupee, with traders pointing...

MUMBAI: The Indian rupee weakened on Tuesday as dollar bids from foreign banks, likely on behalf of custodial clients, and a softer Chinese yuan outweighed positive cues from broad weakness in the greenback. The rupee closed at 85.6350 against the U.S. dollar, down about 0.3% on the day. Asian currencies were mixed on the day while the offshore Chinese yuan dipped lower after China cut key benchmark lending rates and corporate seasonal demand for dollars remained high. A fall in local equities also weighed on the rupee, with traders pointing...

A long-anticipated stablecoin bill has broken through Senate opposition to bring a key piece of crypto legislation one step closer to becoming law.The bill advanced in a procedural vote that garnered bipartisan support two weeks after Democrats balked at the proposed legislation. Early opposition feared that the bill would enable conflicts in President Donald Trump's crypto dealings, which have drawn scrutiny on both sides of the aisle. While some Democrats continued to staunchly resist the bill this week, an amended version was pushed advanced with a 66-32 vote.With the Genius...

On May 19, 2025, the Chinese Imprints on World Currency Launch and Themed Seminar was held in Beijing. Assistant Foreign Minister Hong Lei attended and addressed the event. Senior diplomats from more than ten countries, including the ambassadors to China of Cabo Verde, Algeria, Fiji, Sri Lanka, and Egypt, attended the event. Nearly 100 guests participated in the event, including Wang Haihuai, General Manager of China Communications Construction Company Limited (CCCC), Wu Shangzhi, President of the China Periodicals Association, as well as heads of relevant central enterprises.Assistant Minister Hong Lei said that currencies of over...

Chocolate confectioner Delfi ran up a 27.2 per cent drop in earnings before interest, taxes, depreciation and amortisation (Ebitda) to US$17 million in the first quarter ended Mar 31, down from US$23.3 million the year before. Net sales fell some 0.5 per cent to US$149.8 million in Q1 2025 from US$150.7 million in the same period a year earlier. In a business update posted on the local bourse on Tuesday (May 20), Delfi attributed the performance to “weaker regional currencies”, particularly the rupiah, as well as to lower sales in...

New Delhi: The series of tariffs announced by the US will have negative credit implications for debt issuers across emerging markets, particularly export-reliant companies, with broader trade uncertainty set to weigh on consumer, business and financial activities, Moody’s Ratings said in a report on Tuesday.Companies with significant exposure to US-bound tariffed goods face the most direct risks, the rating agency said in a report on tariffs in emerging markets.However, Moody’s warned that a much larger pool of debt issuers will suffer indirectly through slowing economic growth, declining commodity prices, depreciating...

The dollar's decline extended into Tuesday, as the Federal Reserve's cautious stance on the economic landscape and prospective U.S.-Japan dialogues weighed in. This marked a continuation of plummeting values after Moody's downgraded the U.S. sovereign rating, heightening traders' concerns over the nation's fiscal health.In focus are anticipated U.S.-Japan conversations, where Japanese Finance Minister Katsunobu Kato expects discussions with U.S. Treasury Secretary Scott Bessent to tackle currency volatility. Similar issues are likely to surface at the G7 finance meeting in Canada this week.While Australia's decision to cut interest rates saw...

The Pakistani rupee (PKR) closed in red against the US Dollar (USD), British Pound, and most of the other top currencies on Tuesday. On a day-on-day (DoD) basis, the interbank rate stayed at 282-283/$ most of the day before closing at the 281 level. Open market rates across multiple currency counters remained at the 283 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 by 0.05 percent DoD...

EUR/USD trades little changed on the day near 1.1250.The pair needs to stabilize above 1.1270 to gather bullish momentum.Market participants will pay close attention to comments from central bankers.EUR/USD fluctuates in a narrow channel at around 1.1250 in the European session on Tuesday after closing in positive territory on Monday. The near-term technical outlook points to a loss of bullish momentum as the key resistance level at 1.1270 stays intact. Euro PRICE This week The table below shows the percentage change of Euro (EUR) against listed major currencies this week....