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The Indian rupee extended its decline against the U.S. dollar on Monday, pressured by persistent foreign outflows and sustained dollar demand from importers, particularly state-run oil companies, traders and analysts said. The rupee closed at 87.6550 to the dollar, compared with Friday’s close of 87.5400. The currency had opened stronger at 87.2250, tracking a weaker dollar after a softer-than-expected U.S. jobs report on Friday raised expectations of a Federal Reserve rate cut in September.The dollar index was down 0.27% at 98.92 as of 1025 GMT. However, dollar-buying through the day, especially by oil importers, erased early gains, traders said.Live Events…

The USD/JPY forecast indicates a slight recovery in the dollar. The economy added only 73,000 jobs in July. The BoJ has been more confident in talks of resuming rate hikes. The USD/JPY forecast indicates a slight recovery in the dollar after a steep decline in the previous session due to downbeat employment numbers. Meanwhile, the yen found support in talks of the BoJ continuing its monetary tightening.  –Are you interested in learning more about Bitcoin price prediction? Check our detailed guide- The dollar had a bad end to the week after the US released a downbeat monthly employment report. The…

Highlights Dollar rebounds slightly after Friday’s slide Weak jobs data, uncertainty over Fed independence undermine US economy Investors pricing in more than 90% chance of September Fed cut A battered dollar found some support on Monday after a dismal US jobs report and President Donald Trump’s firing of a top labour official stunned investors and led them to ramp up bets of imminent Federal Reserve rate cuts.Data on Friday showed US employment growth undershot expectations in July while the nonfarm payrolls count for the prior two months was revised down by a massive 258,000 jobs, suggesting a sharp deterioration in…

On Friday, the rupee closed at 87.18 against the US dollar. The rupee depreciated 11 paise to 87.29 against the US dollar in early trade on Monday, weighed down by sustained foreign fund outflows and concerns over trade tariffs.Forex traders said the weakness in the dollar index and easing crude oil prices supported the rupee at lower levels.At the interbank foreign exchange market, the rupee opened at 87.21 and fell to an early low of 87.29 against the American currency, registering a decline of 11 paise over its previous close.On Friday, the rupee closed at 87.18 against the US dollar.”Indian…

The rupee is set to open higher on Monday, riding the dollar’s plunge after a weak US jobs data boosted bets that the Federal Reserve will cut rates at its September meeting.The 1-month non-deliverable forward indicated the rupee will open in the 87.18-87.22 range versus the US dollar, up from 87.54 on Friday.The rupee fell over 1 per cent last week to its lowest level since February, pressured by equity outflows and concerns over a 25 per cent US tariff on imports from India.”The broader trend (on USD/INR) remains bid. While Friday’s dollar move is an unexpected turn for dollar…

The rupee fell 1.2% last week to 87.5275 per dollar on Friday, marking its biggest weekly drop since December 2022. | Photo Credit: HEMANSHI KAMANI Rupee is poised to remain one of Asia’s worst performers in the second half of the year, with US tariffs adding pressure to an already fragile economic recovery, analysts say.Analysts at Deutsche Bank AG and Barclays Plc expect the currency to drop to new record lows by the year-end amid muted foreign inflows and headwinds from US tariffs. Meanwhile, the Chinese yuan, Indonesian rupiah, Malaysian ringgit and Philippine peso are projected to gain, according to…

The rupee is likely to stay under pressure this week as concerns over steep U.S. tariffs on Indian exports linger, while the Reserve Bank of India’s upcoming policy decision also looms large over the currency and government bonds. The rupee closed at 87.54 against the U.S. dollar on Friday, down 1.2% for the week, pressured by persistent foreign portfolio outflows and a 25% levy on Indian exports. While the local unit is hovering near its weakest level since February, fresh tariff announcements on dozens of U.S. trading partners also pushed other Asian currencies to multi-month lows.The dollar index, meanwhile, posted…

India’s foreign exchange reserves rose by $2.703 billion to $698.192 billion for the week ending July 25, after falling for three consecutive weeks, according to the official data released by the Reserve Bank of India (RBI).In the previous reporting week, the country’s foreign exchange reserves fell by $1.18 billion to $695.49 billion. In the week ending July 25, foreign currency assets, the major constituent of the forex reserves, rose $1.316 billion, at $588.926 billion, possibly becoming the primary reason for the uptick in the forex reserves.The Gold reserves, another major component of the forex, again witnessed an uptick, increasing by…

The GBP/USD weekly forecast suggests further downside. The US economy grew by 3.0%, compared to the forecast of 2.5%. The dollar retreated on Friday after data revealed slower-than-expected job growth in July. The GBP/USD weekly forecast suggests further downside as market participants prepare for a Bank of England rate cut. Ups and downs of GBP/USD  The GBP/USD price had a bearish week as the dollar strengthened on upbeat data and higher tariffs. However, there was a pullback after the nonfarm payrolls report.  –Are you interested in learning more about Bitcoin price prediction? Check our detailed guide- At the start of…

The USD/CAD weekly forecast points to increasing economic concerns in Canada. Canada was one of the unlucky countries to fail to sign a trade deal with the US. Data revealed weak US job growth in July. The USD/CAD weekly forecast points to increasing economic concerns in Canada after Trump imposed higher tariffs. Ups and downs of USD/CAD The USD/CAD pair had a bullish week as the loonie weakened amid tariff concerns. At the same time, the dollar gained against most of its peers, further weighing on Canada’s currency. Canada was one of the unlucky countries to fail to sign a…