archivePacific Rim

(Bloomberg) -- India’s dollar stockpile had its biggest weekly gain in over three years, bolstered by the Reserve Bank of India’s currency swap operations last month.Foreign exchange reserves grew by $15.3 billion to nearly $654 billion in the week to March 7, data released on Thursday showed. That is the highest weekly gain since Aug. 27, 2021, according to Bloomberg-compiled data.This comes after the central bank injected $10 billion through a foreign-exchange swap auction on Feb. 28, stepping up efforts to ease a cash crunch in the financial system. The...

(Bloomberg) -- India’s dollar stockpile had its biggest weekly gain in over three years, bolstered by the Reserve Bank of India’s currency swap operations last month.Foreign exchange reserves grew by $15.3 billion to nearly $654 billion in the week to March 7, data released on Thursday showed. That is the highest weekly gain since Aug. 27, 2021, according to Bloomberg-compiled data.This comes after the central bank injected $10 billion through a foreign-exchange swap auction on Feb. 28, stepping up efforts to ease a cash crunch in the financial system. The...

The Mexican peso slumped after U.S. President Donald Trump imposed new import tariffs against the country, though other developing-nation currencies held their own amid concerns about the impact of the escalating trade war on growth in the world’s largest economy. The peso fell as much as 1% against the dollar, extending its decline to a fourth day and hitting the weakest level in a month after the 25% duties came into effect, together with levies on Canada and China. Investors are awaiting Mexico’s response, with President Claudia Sheinbaum expected to...