archiveGlobal economy

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...

External Affairs Minister S Jaishankar, during his visit to the UK, addressed global economic concerns including the US dollar’s role, BRICS' position on de-dollarisation, and the internationalisation of the Indian rupee. He dismissed speculation that India aims to replace the US dollar, stating the dollar remains essential for global stability. Jaishankar clarified that BRICS lacks a unified stance on de-dollarisation. While rejecting de-dollarisation, he highlighted India's efforts to expand the global use of the rupee, establishing mechanisms with countries facing hard currency shortages. Jaishankar also underlined India's positive relations with...