archivedollar

The rupee rose 8 paise to 85.58 against the US dollar in early trade on Tuesday (June 10) amid a positive opening in the domestic equity markets and robust foreign capital inflows.However, rising global crude oil prices and a strengthening US dollar against overseas currencies capped sharp gains in the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 85.62 against the greenback before rising further to 85.58, higher by 8 paise against its previous close. The local unit appreciated 2 paise to close...

US Stock Market Live: Futures on Wall Street are trading with some green after a disappointing session on Thursday. Currently, the Dow futures are up 60 points, while the S&P 500 futures are at the flat line. Nasdaq futures are down 50 points. The Dow Jones fell 100 points yesterday, while Tesla's crash weighed on the other two indices. Watch this space for all the Live updates.US Stock Market Live: Futures on Wall Street are trading with some green after a disappointing session on Thursday. The phone call between US...

The Reserve Bank of India (RBI) wants Indian banks to give loans to foreigners in rupees .The RBI has approached the Centre asking for permission to do so.The central bank’s move is the latest step towards the internationalisation of the rupee.But what happened? Why is the RBI making this move?Let’s take a closer lookWhat happened?The RBI wants to allow domestic banks to make loans to overseas borrowers in Indian currency.This would be a historic first for the nation.The central bank has already asked the government to allow domestic banks to...

The Indian rupee opened stronger at 85.05 per US dollar on Monday (May 26), extending gains from Friday (May 23) amid broad weakness in the dollar and firm domestic equities.The currency began the session at 85.02 and briefly touched 84.85 in early trade, supported by the dollar’s slide and a rally in Asian currencies, especially the Chinese yuan which hit a seven-month high.What’s driving the rupee? The dollar index slipped 0.34% to 98.67, weighed down by global fiscal concerns and softer US trade rhetoric.Asian currencies gained across the board. The...

Wall Street pundits and investors are schizophrenic about US assets. The dollar weakened after Moody’s cut the United States’ credit rating, citing the increasing fiscal deficit, as well as the rising interest costs on government debt.On the other hand, the S&P 500 not only recovered after US President Donald Trump’s April tariff shock, but is now less than 5 per cent off its record high in February. Nevertheless, 30-year US Treasury yields recently exceeded 5 per cent per annum, indicating investors’ nervousness about US deficits and debt sustainability.While Financial Times...

Gold prices climb for the third consecutive session amid a softer dollar and geopolitical tensions. NEW YORK, May 22: Gold prices rose for a third straight session on Wednesday, reaching a one-week high, supported by a weakening US dollar and growing safe-haven demand amid ongoing economic and geopolitical uncertainty.As of 1:55 p.m. ET (5:55 p.m. GMT), spot gold gained 0.7% to trade at $3,312.77 per ounce, while US gold futures closed 0.9% higher at $3,313.50.The US dollar index (.DXY) fell 0.6% against a basket of major currencies, making gold more...

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 value of the dollar saw fluctuations on Thursday during a week marked by a tariff truce between the U.S. and China. Speculation arose regarding Washington's potential strategy to weaken the dollar, affecting the South Korean won which showed volatility amid discussions between U.S. and South Korean officials.Investors remain uneasy over U.S. dollar policy, potentially supporting Asian currencies in the short term. The South Korean won rose 0.8% against the dollar, bouncing back from previous losses. This movement mirrors Taiwan's currency surge after U.S.-Taiwan trade negotiations.The dollar displayed mixed...

Daedo Kim and Jaehyun Eom  |  BloombergThe dollar erased this week’s gains on fresh speculation President Donald Trump favors a weaker greenback and will prod other governments to let their currencies rise in return for trade deals with the US.The US currency extended an earlier decline on Wednesday after a Bloomberg News report that South Korea and US officials discussed exchange rate policies at a May 5 meeting in Milan and will continue to do so.The won rose nearly 2% and the Japanese yen also climbed, helping to push the...

MUMBAI: The Indian rupee closed nearly flat on Tuesday as a fall in local equities and dollar bids from state-run banks ate into the currency’s early gains spurred by the cessation of military hostilities between India and Pakistan. The rupee touched a peak of 84.6350 in early trading before ending at 85.33 against the US dollar, nearly unchanged from its close at 85.37 on Friday. The benchmark equity indexes, the BSE Sensex and Nifty 50, fell about 1.5% each on fears of foreign flows moving to China after its trade...