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The rupee appreciated 23 paise to close at 87.36 (provisional) against the US dollar on Monday, supported by strong domestic equities. Forex traders said the Indian rupee traded on the positive territory on the GST reforms that Prime Minister Narendra Modi recommended in his August 15 address to the nation. Forex traders said the uncertainty over trade tariffs issue between India and the US is likely to keep market participants cautious. At the interbank foreign exchange market, the rupee opened at 87.46 against the US dollar, and touched an intraday low of 87.48 and a high of 87.33 and settled…

The Indian rupee rose on Monday, boosted by the rally in local equities on Prime Minister Narendra Modi’s planned tax cuts, while forward premiums and volatility expectations barely budged following the Trump-Putin meeting. The rupee settled at 87.35 per U.S. dollar, up 0.23% from 87.55 in the previous session, rising in tandem with local shares. The Nifty 50 rose 1% – the biggest single-day percentage gain since June 26, 2025 – to 24,876.95 points and the BSE Sensex gained 0.84% to 81,273.75. New Delhi will propose a two-rate structure of 5% and 18%, doing away with the 12% and 28%…

The US Dollar’s recovery against the Yen has lost steam at 148.50, with all eyes on Ukraine’s summit.USD/JPY is lacking a clear bias, with market volatility subdued. Higher hopes of further BoJ tightening have created a JPY-supportive monetary policy divergence.The US Dollar bounced up against the Japanese Yen on Friday, but upside attempts have been capped below 148.50 on Monday, with trading volumes at low levels, as investors await the outcome of a meeting between Trump and Zelenskyy in Washington.Markets are showing a cautious tone, concerned about a likely failure at the summit, where Trump is expected to pressure his…

European natural gas prices fell to fresh lows last week, with the TTF benchmark sliding more than 3% ahead of the Trump-Putin summit. The decline has widened the JKM premium over European prices, raising the likelihood of LNG cargoes being redirected to Asia, while Europe still faces the challenge of boosting storage from its current 74% level toward the 90% target, ING’s commodity experts Ewa Manthey and Warren Patterson note.TTF drops over 3% ahead of Trump-Putin summit”European natural gas prices came under further pressure over the last week ahead of the Trump-Putin summit, with the Title Transfer Facility (TTF) falling…

The Pound Sterling consolidates around 1.3550 against the US Dollar ahead of the Trump-Zelenskyy meeting at the White House.Traders remain confident that the Fed will cut interest rates in September.Economists expect the UK core CPI to have grown steadily by 3.7%.The Pound Sterling (GBP) trades in a tight range around 1.3550 against the US Dollar (USD) during the European trading session on Monday. The GBP/USD pair consolidates as investors await the meeting between United States (US) President Donald Trump, Ukrainian President Volodymyr Zelenskyy, and NATO members at the White House on Monday to discuss the terms laid down by Russian…

AUD/USD wobbles around 0.6500 as investors await Trump-Zelenskyy meeting at the White House.US President Trump stated that Ukrainian President Zelenskyy could end war with Russia.Investors expect the Fed to cut interest rates in September.The AUD/USD pair trades broadly stable around 0.6500 during the European trading session on Monday. The Aussie pair consolidates as investors await the meeting between United States (US) President Donald Trump and Ukrainian President Volodymyr at the White House during the day.Ahead of the meeting, US President Trump has stated in a post on Truth.Social that Ukrainian President Zelenskiy could end war with Russia if he dropped…

The much-anticipated summit between the US President and his Russian counterpart did not have a significant impact on the US dollar, despite the generally negative reporting in its aftermath (see the article below). While diplomatic developments are likely to remain in focus in the coming days, the central bank meeting in Jackson Hole at the end of the week is expected to have a greater impact on the currency market. Who will ultimately pay the higher US tariffs? Officials currently calling for interest rate cuts seem to be focusing on the idea that US tariffs will not lead to increased…

The rupee edged higher by 20 paise to 87.39 against the US dollar in early trade on Monday, amid a positive trend in domestic equities.Forex traders said the uncertainty over the trade tariffs issue between India and the US is likely to keep market participants cautious.At the interbank foreign exchange market, the rupee opened at 87.46 against the US dollar, then touched 87.39, registering a gain of 20 paise over its previous close.On Thursday, the rupee settled for the day at 87.59 against the US dollar.The forex and equity markets were closed on Friday on account of Independence Day.The Indian…

The dollar dithered on Monday ahead of a key meeting between U.S. President Donald Trump and his Ukrainian counterpart Volodymyr Zelenskiy, while investors also looked ahead to the Federal Reserve’s Jackson Hole symposium for more policy clues. Currency moves were largely subdued in the early Asia session, though the dollar steadied after last week’s fall as traders further pared back bets of a jumbo Fed cut next month. The euro was little changed at $1.1705, while sterling edged up 0.07% to $1.3557.Against a basket of currencies, the dollar advanced slightly to 97.85, after losing 0.4% last week. Markets are now…

India’s foreign exchange reserves rose by $4.747 billion in the week that ended August 8 to $693.618 billion, driven by gains in both foreign currency assets and gold holdings, the Reserve Bank of India (RBI) said in its latest ‘Weekly Statistical Supplement’.In the preceding week, India’s foreign exchange reserves reported a sharp decline, slipping $9.32 billion. Still, the forex kitty is hovering close to its all-time high of $704.89 billion touched in September 2024. After the latest monetary policy review meeting, RBI Governor Sanjay Malhotra said the foreign exchange kitty was sufficient to meet 11 months of the country’s imports.The…