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The rupee opened weaker at 90.3650 per USD against previous close of 90.19. The rupee on Thursday opened weaker, above 90 to the dollar level for the first time, and hit an intraday low of 90.43 in trading so far.Factors such as continued FPI outflows from the equity markets, importer demand, lack of visibility on a trade deal with the US, widening trade deficit, and restrained RBI intervention continue to affect the Indian currency.The rupee opened weaker at 90.3650 per USD against previous close of 90.19. Its last trade price was 90.3050 and the intraday high so far was 90.2525,…

The GBP/USD pair loses ground to around 1.3330 during the Asian trading hours on Thursday. The major pair retreats from nearly a two-month high amid renewed US Dollar (USD) demand. However, the rising bets of a Federal Reserve (Fed) rate cut next week might cap its downside. Traders will take more cues from the US weekly Initial Jobless Claims report later on Thursday. Weaker US economic data this week, including Manufacturing PMI and ADP Employment Change, have cemented the case for a rate reduction from the US central bank at the December meeting. This, in turn, could weigh on the Greenback and…

The USD/JPY pair attracts some sellers to around 155.25 during the early Asian session on Thursday. The US Dollar (USD) softens against the Japanese Yen (JPY) on weaker-than-expected US jobs data and expectations of further US rate cuts.Data released by the Automatic Data Processing (ADP) on Wednesday showed that private employers shed 32,000 jobs in November, compared to the 47,000 increase (revised from 42,000) seen in October. This figure came in below the market expectation of 5,000 growth and marked the largest monthly decline since early 2023. This report pointed to a weakening US labor market, which exerted some selling…

United States (US) Treasury Secretary Scott Bessent said that he would, going forward, press for the Fed’s Board of Governors in Washington to veto appointments of candidates who have not satisfied that threshold at the New York Times DealBook Summit on Wednesday.Key quotesFed chair has room to start discussion on policy but has one vote.No one understands Fed’s balance sheet function.Regional Fed banks don’t necessarily represent their districts. Going to start advocating that Fed bank presidents should have lived in their districts for at least 3 years.I am advocating that Fed regional bank presidents must have lived in their districts…

Benchmark indices extended their losing streak to a fourth consecutive session on Wednesday, with the Nifty50 closing at 25,986, down 46.20 points or 0.18 per cent, while the Sensex ended marginally lower at 85,106.81, shedding 31.46 points or 0.04 per cent. The Indian rupee’s depreciation to a record low of 90.14 against the US dollar in early trade, eventually closing at 90.19, emerged as the key concern dampening investor sentiment. The currency’s sixth straight session of weakness marked its longest losing run since July 2025, driven primarily by substantial foreign institutional investor outflows and restrained central bank intervention ahead of…

AUD/USD rallied to near 0.6600 as Q3 GDP data, though weaker than expected, confirmed strong private investment and household demand, supporting the RBA’s on-hold stance. With Australian rates expected to stay firm while the Fed faces 100bps of easing, AUD/USD could trend toward 0.6700, reflecting widening one-year implied policy rate differentials, BBH FX analysts report. Australia Q3 GDP underwhelms, but domestic demand strong”AUD/USD rallied to a multi-week high near 0.6600. Australia Q3 real GDP growth underwhelmed but details are more reassuring and back the RBA’s on hold bias. Real GDP rose 0.4% q/q vs. 0.7% in Q2. This was weaker…

The “destiny” of the rupee is to depreciate further, and the 90-per-dollar mark breached on Wednesday is the new normal for the Indian currency, a senior financial services executive said on Wednesday.Nilesh Shah, who heads the Kotak Mahindra Mutual Fund and is also a part-time member of the Economic Advisory Council to the Prime Minister (EAC-PM), said that India’s performance on key parameters vis-a-vis trade partners will exert pressure on the rupee.”Destiny of rupee is to depreciate because our inflation is higher than our trade partners and our productivity is lower than our trade partners,” Shah told reporters here.Shah, a…

The rupee breached the 90-a-dollar level for the first time to settle at a fresh all-time low of 90.21 (provisional) on Wednesday, down 25 paise from its previous close, amid sustained foreign fund outflows and higher crude oil prices.Uncertainty over the India-US trade deal, along with the lack of Reserve Bank of India (RBI) effort to stop the slide in the local unit, put further pressure on the rupee, according to forex traders.At the interbank foreign exchange, the rupee opened at 89.96 against the US dollar and fell to a record intraday low of 90.30 during the session before closing…

The dollar index, which measures the US currency against six other units, was 0.15% lower at 99.10, set for a nearly 9% decline in the year. The dollar headed for its ninth straight decline on Wednesday as traders ramped up bets on Federal Reserve rate cuts following US economic data and growing expectations of a more dovish central bank.Fed Governor Christopher Waller said last week the labour market is weak enough to justify another quarter-point rate cut in December, while White House economic adviser Kevin Hassett emerged as the frontrunner to become the next Fed chair. US President Donald Trump…

Chief Economic Advisor (CEA) V. Anantha Nageswaran (file photo) | Photo Credit: SUSHIL KUMAR VERMA Chief Economics Adviser V Anantha Nageswaran on Wednesday said the government is not losing sleep over declining rupee, which has breached the 90-level against the greenback. The falling rupee is not affecting inflation or exports, he said on the sidelines of CII event here. However, he expressed hope that it should improve next year. The rupee has depreciated about 5 per cent against the US dollar in 2025. The rupee plummeted to a new low of 90.30 against the greenback in the intra-day session on…