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The U.S. dollar weakened against major currencies including the yen and euro, while China’s offshore yuan hit a record low on Tuesday, amid trade disputes sparked by President Donald Trump’s sweeping tariffs that have roiled markets for three days. The Japanese yen and Swiss franc continued to benefit from appetite for safe-havens, however, as investors remain concerned about the potential for a global recession. Markets are bracing for a war of attrition between the U.S. and China. Beijing has refused to bow to what it called “blackmail” and vowed to “fight to the end” after Trump threatened to ratchet up…

The Indian rupee fell to a more than two-week low on Tuesday, weighed down by a weaker yuan and corporate hedging demand, while forward premiums eased on rising U.S. bond yields. The rupee closed at 86.2650 against the U.S. dollar, down 0.5% on the day. The currency hit a low of 86.29 during the session, its lowest since March 21. The onshore Chinese yuan declined 0.4% to 7.33 on Tuesday after the country’s central bank set the midpoint rate , around which the yuan is allowed to trade in a 2% band, at the weakest level since September 2023.Asian currencies…

The USD/CAD price analysis shows increasing hopes of tariff negotiations. Canada was among the few countries that escaped reciprocal tariffs. The Eurozone and China are ready to impose counter-tariffs. The USD/CAD price analysis shows a rebound in the Canadian dollar amid hopes of tariff negotiations that might lift global economic concerns. Meanwhile, the dollar remained fragile due to a recent drop in Treasury yields due to recession worries.  –Are you interested to learn more about South African forex brokers? Check our detailed guide- Canada was among the few countries that escaped reciprocal tariffs on Wednesday. As a result, the Canadian…

The Indian rupee logged its steepest one-day decline in nearly three months on Monday as concerns over U.S. President Donald Trump’s sweeping tariff plans jolted global financial markets, dragging Asian currencies and stocks lower. The rupee closed at 85.8350 per U.S. dollar, down 0.7% on the day, its worst single-day fall since January 13. India’s benchmark equity indexes, the BSE Sensex and Nifty 50, ended about 3% lower each, their steepest one-day fall since June last year.The onshore Chinese yuan declined 0.4% to a near four-month low of 7.3181, propelling a slide of as much as 1% in Asian currencies.…

The rupee closed modestly stronger on Thursday, aided by a broadly weaker dollar and inflows as markets grappled with the impact of sweeping U.S. reciprocal tariffs and their impact on global trade and growth dynamics. India is facing a relatively softer levy of 27% than regional peers such as China, Vietnam and Thailand, which also was a sentimental positive for the currency. The local unit closed at 85.43 against the U.S. dollar, compared to the close of 85.4975 in the previous session.It had declined to a low of 86.75 in early trading, but broad-based interbank offers, including those spurred by…

The Indian rupee’s sharp run-up over March due to a pickup in inflows and an easing bearish bias helped the local unit recover from a record low hit last month and trim its losses for the fiscal year. The rupee closed at 85.47 per U.S. dollar, gaining 0.3% for the day and 2.3% in March. That helped it pull away from its all-time low of 87.95 on February 10 and cut its losses to 2.4% for the financial year ending March 31.The exodus of foreign money from Indian stocks and a spell of dollar strength had kept the rupee under…

The Indian rupee slipped on Thursday, pressured by routine dollar demand from importers, even as its Asian peers benefited from a broadly weaker dollar. The rupee closed at 85.78 against the U.S. dollar, down 0.1% on the day. The local unit traded sideways after a decline in early trade that baked in the impact of carry costs following a shift in the spot date from the last day of the current financial year to the first day of the next one.With India’s money markets shut on March 31 and April 1 for local holidays, Thursday’s spot trades will be settled…

The Indian rupee closed marginally higher on Wednesday following a choppy trading session, influenced by maturity of positions in the non-deliverable forwards market, exporter activity, and mild dollar sales from foreign banks. The rupee ended at 85.7050 against the U.S. dollar, slightly higher from its previous close at 85.7550. The local currency hovered between 85.89 and 85.6850 through the session. Asian currencies were mixed while the dollar index was little changed at 104.2, with the focus turning to the upcoming announcement of reciprocal U.S. tariffs on April 2.Near-constant shifts in U.S. tariff policies have left traders unsure of how the…

The Reserve Bank of India (RBI) conducted its fifth open market operation (OMO) purchase and accepted Rs 44,541 crore of bids, lower than the notified amount of Rs 50,000 crores.This round of auctions, however, received bids worth Rs 67,540 crore.This is the only OMO auction, in the current liquidity-enhancement drive, where the RBI has accepted bids lower than the notified amount.The central bank has been conducting operations to inject durable liquidity into the banking system, which has been in deficit since mid-December. The daily average liquidity deficit in March stood at Rs 1.62 lakh crore.Economists expect liquidity to ease after…

The Indian rupee closed lower to halt a nine-day winning run on Tuesday as importers stepped in to hedge liabilities at favourable levels, dollar inflows moderated and the local currency’s regional peers slipped. The rupee ended at 85.7550 against the U.S. dollar, down 0.14% on the day. It had risen to a year-to-date peak of 85.49 on Monday and is up about 2% on the month so far. Intermittent inflows from overseas portfolio investors and the repatriation of corporate dollar-based earnings ahead of the fiscal year ending March 31 have helped the rupee outpace its Asian peers this month.The recent…