archivedollar

NEW YORK: The US dollar fell against major currencies such as the euro, yen and sterling on Wednesday, as traders awaited details of US President Donald Trump’s plans for tariffs, which could upend the global trading system and shake financial markets. The euro last bought at $1.0825, up 0.3% against the dollar, while sterling edged up 0.1% to $1.2940 ahead of a White House Rose Garden announcement scheduled for 2000 GMT that will likely see the imposition of steep new duties on US imports. Trump has for weeks trumpeted April...

MUMBAI: The Indian rupee (INR) jumped to its highest level in over three weeks on Tuesday, boosted by likely US Dollar (USD) inflows and persistent weakness in the greenback, which teetered near a five-month low against major peer currencies. The rupee rose to a peak of 86.54 against the US dollar, its highest since February 21, before closing at 86.57, up over 0.2% on the day. At least three large foreign banks sold dollars, helping lift the rupee, a trader at a mid-sized private bank said. Bids by state-run banks,...

On Monday, the dollar hovered near a five-month low against major currencies as President Donald Trump's erratic trade policies and soft economic data took their toll. The euro, benefiting from domestic drivers, is faring better, last recorded at $1.0876. Despite slight dips, it's close to hitting its highest point since October 11.Similarly, the Japanese yen witnessed softness at 148.94 per dollar but remains stronger having recently peaked in five months. These movements have driven the dollar index, which tracks the U.S. currency against six major counterparts, to linger just...

There is no change in the forex policy of the central bank despite several quarters believing that under the new governor Sanjay Malhotra, RBI would not aggressively defend the rupee, said the official, citing discussions between the government and the RBI on the currency slide. The Indian rupee has weakened about 3.5% against the dollar in the past six months to 86.88 on 7 March, as per data from Bloomberg. By comparison, the Chinese Yuan and the Japanese Yen weakened 1.7% and 0.7%, respectively, during the period. “The government does...

SYMBOL - 23 April 2024, Baden-Württemberg, Rottweil: The logos of the cryptocurrencies Bitcoin ... (BTC), Ethereum (ETH), the stablecoin Tether (USDT) and Binance Coin (BNB) can be seen on the trading platform CoinMarcetCap. (Image with longer exposure time). Photo: Silas Stein/dpa (Photo by Silas Stein/picture alliance via Getty Images)dpa/picture alliance via Getty Images Private, or “crypto” money will eventually replace government money. Bank on it. As written in The Money Confusion, profits from the trading of fiat currency chaos ($7 trillion per day worth of currency trading) ensure the eventual...

Returns for Indian investors in US stocks are a combination of two factors: market performance and currency depreciationread moreThe Indian rupee’s steady decline against the US dollar has been a subject of concern for policymakers, businesses and consumers alike. The currency recently breached the Rs87 mark, having fallen from Rs74.5 on January 1, 2022, to Rs87.39 as of March 3, 2025. This depreciation has led to higher import costs, a widening trade deficit and pressure on India’s current account balance. However, for Indians looking to invest in US markets, this...

Alden Bentley, Harry Robertson and Ankur Banerjee  |  ReutersTrump doubles tariffs on China; China retaliates with tariffs on US goodsUnited States President Donald Trump doubled the tariff on Chinese imports, bringing that rate to 20%. China retaliated by announcing 15% tariffs on various imports from the US.Fox - SeattleThe dollar fell to a three-month low on Tuesday as concerns about slowing growth and the impact from tariffs on the U.S. economy outweighed any potential boost from new levies on Canada, China and Mexico.President Donald Trump's 25% tariffs on goods from Canada and Mexico took effect Tuesday, along with a doubling of duties on Chinese goods to 20%.In response, China said it will...