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A recent surge in global oil prices, driven by geopolitical tensions in the Middle East, has increased pressure on Asian currencies, with analysts warning of heightened downside risks for the Thai baht, Korean won, and Taiwan dollar. According to a note by Barclays Plc, the upward momentum in oil is beginning to weigh heavily on the region’s largely oil-importing economies.In a report released Tuesday, Barclays’ Fixed Income, Currencies and Commodities (FICC) Research team said that a sharp escalation in the Israel-Iran conflict could worsen the outlook further. Barclays flags downside...

The sharp depreciation of the US dollar over the past three months poses a growing challenge for Indian IT companies, particularly those with a high concentration of USD-denominated revenues. The USD has depreciated sharply over the past three months, approximately 4 per cent against the INR and even more significantly against the EUR (7.6 per cent) and GBP (9.9 per cent). This sharp INR appreciation can negatively impact profitability, especially for mid-tier firms with high offshore exposure and limited currency hedging. Per an analysis report by Kotak Institutional Equities, the...

MUMBAI, April 30 (Reuters) - The Indian rupee, on Wednesday, rose to its highest level this year on the back of likely inflows into equities, a pickup in hedging-related dollar sales from local exporters and cutting of bearish positions on the local currency.The rupee rose 0.5% to a high of 84.78 per dollar, tracking gains in Asian currencies, which were up by as much as 0.8% on the day. Sign up here.Optimism surrounding a potential trade deal between India and the U.S. has also aided the rupee.U.S. President Donald Trump...

The Indian rupee has staged a strong comeback this year, making it on of the top-performing currencies. The USD/INR pair plunged to a low of 85.50, its lowest level since January 2 and 2.7% below its highest point this year. This article explains why the Indian rupee is soaring and what to expect.US dollar index crash Copy link to section One reason why the USD/INR exchange rate has crashed is that the US dollar index has embarked on a strong downtrend this yea. The DXY index has crashed from the...

The Indian rupee has staged a strong comeback this year, making it on of the top-performing currencies. The USD/INR pair plunged to a low of 85.50, its lowest level since January 2 and 2.7% below its highest point this year. This article explains why the Indian rupee is soaring and what to expect.US dollar index crash Copy link to section One reason why the USD/INR exchange rate has crashed is that the US dollar index has embarked on a strong downtrend this yea. The DXY index has crashed from the...

In a significant move towards enhancing economic ties, India and Mauritius announced an agreement to enable trade using local currencies. A Memorandum of Understanding (MoU) was struck between the two nations' central banks to promote trade in the Indian Rupee (INR) and the Mauritian Rupee (MUR).The MoU, formalized on March 12, 2025, in the presence of Prime Minister Narendra Modi and his Mauritian counterpart Navinchandra Ramgoolam, will establish the INR-MUR Local Currency Settlement (LCS) System. This system aims to minimize dependence on hard currencies in cross-border transactions, as confirmed...

Reserve Bank of India (RBI) was the net seller of over $36 billion between June and December to support the Indian Rupee, showed government’s written responses in the Rajya Sabha on Tuesday. Written replies by Minister of State in the Finance Ministry, Pankaj Chaudhary revealed that gross sale during 7 months of the current fiscal, starting June, by RBI was over $53 billion, while gross purchase was over $16.5 billion. This means that net sale was over $36 billion. However, this was not sufficient to stop the steep fall in...