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The Indian rupee depreciated 45 paise to close at 84.80 against the US dollar on Wednesday, driven by heightened tensions between India and Pakistan following India's military strikes on terrorist camps in Pakistan. Mumbai, May 7 (PTI) The rupee depreciated 45 paise to close at 84.80 (provisional) against the US dollar on Wednesday, as heightened cross-border tensions following India's military strikes against terrorist camps in Pakistan and Pakistan-Occupied Kashmir weighed on the domestic currency.Indian armed forces on early Wednesday carried out missile strikes on nine terror targets in Pakistan and...

Asian currencies turbocharged by dollar weakness are attaining rarely seen superlatives and triggering central bank intervention to curb excessive gains.The Hong Kong Monetary Authority on Friday sold a record amount of local dollars to prevent its advance and protect the currency’s 42-year-old peg to the greenback. Taiwan’s central bank also intervened as its currency soared the most since 1988. The offshore yuan rallied to its strongest since November.The volatility shows how an exodus from the world’s reserve currency can ripple through financial markets, as President Donald Trump’s shifting tariff policies...

KUALA LUMPUR, April 22 — The ringgit retreated versus the US dollar at the close today due to renewed concerns over global economic uncertainties and mixed signals from the United States’ (US) monetary policy front, said an economist.At 6 pm, the local currency dropped to 4.3835/3905 against the greenback, from Monday’s close of 4.3670/3735.Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit saw some slight correction against the US dollar at RM4.3850 from the previous day’s closing.“The degree of uncertainties remained, but traders may have...

Trading Forex during the Asian Trading Hours When looking at trading through the Asian session, the currency pairings are categorized into the majors, cross-currency pairings (also referred to as the crosses) and the exotics. The major FX pairings for the Asian session are the U.S Dollar ($) – Japanese Yen (¥) or USD/JPY, Aussie Dollar (A$) – U.S Dollar ($) or AUD/USD and the Kiwi Dollar (N$) – U.S Dollar ($) or NZD/USD. The Global FOREX markets major currency pairings, which also include the EURO – U.S Dollar, UK Pound...

KUALA LUMPUR, March 26 — The ringgit opened slightly higher against the US dollar this morning as investors viewed Malaysia’s political and policy stability favourably among emerging markets, boosting the currency’s appeal amid mixed global sentiment. At 8 am, the ringgit stood at 4.4340/4410 against the greenback, up from yesterday’s close of 4.4355/4390. Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said that despite global challenges, the ringgit had remained resilient, gaining 0.85 per cent year to date and ranking as the fourth-best performing currency in Asia. According...

India’s foreign exchange (forex) reserves rose by $305 million to $654.271 billion for the week ending March 14, according to data released by the Reserve Bank of India (RBI) on Friday. This comes after a sharp increase of $15.267 billion in the previous week, marking the highest weekly surge in two years. The recent growth in reserves follows a period of decline due to forex market interventions and revaluation effects aimed at stabilizing the rupee. The RBI’s $10 billion forex swap played a significant role in the previous week’s spike....

India's foreign exchange reserves slumped in the week that ended on February 28, as per the latest RBI data. In the week under consideration, the foreign exchange reserves declined by $1.781 billion to $638.698 billion. Forex reserves had slumped for about four months, recently hitting an 11-month low. Then followed the latest rollercoaster movement, with gains some weeks and declines the next. Forex reserves started falling after touching an all-time high of $704.89 billion in September. They are now about 10 percent lower from their peak. The decline in reserves...