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The rupee depreciated 10 paise to close at an all-time low of 88.19 (provisional) against the US dollar on Monday amid Indo-US trade deal uncertainties and higher dollar demand from importers.Forex traders said the rupee opened on a weaker note this morning and revisited its all-time intra-day low of 88.33 against the American currency, weighed down by persistent foreign fund outflows.At the interbank foreign exchange market, the rupee opened at 88.18 against the US dollar, then lost ground and fell to an all-time intra-day low of 88.33, as additional trade tariffs on India by the US raised concerns over India’s…

The Indian rupee recovered from its record low to end unchanged on Monday, helped by likely intervention from the Reserve Bank of India towards the later part of the session, according to traders. The rupee ended at 88.1950 to the U.S. dollar, identical to Friday’s close. The currency fell 0.7% in August, its fourth consecutive monthly decline. The rupee plummeted to a fresh record low of 88.33 earlier in the day, reflecting mounting concerns over higher U.S. tariffs on Indian goods and the broader economic implications for the South Asian country.”Today being a U.S. holiday there was thin liquidity, thus…

The USD/CAD forecast indicates a slight recovery of the dollar against the Canadian dollar. Market participants are eagerly awaiting the US monthly employment figures. Data revealed that Canada’s economy unexpectedly contracted. The USD/CAD forecast indicates that the dollar is expected to recover slightly against the Canadian dollar ahead of crucial employment figures from the US and Canada. Meanwhile, data released on Friday revealed unexpected weakness in Canada’s economy, which could pressure the Bank of Canada to cut interest rates. –Are you interested in learning more about forex indicators? Check our detailed guide-  Market participants are eagerly awaiting the monthly employment…

The rupee depreciated 17 paise to 88.26 against the US dollar in early trade on Monday, as persistent foreign fund outflows weighed on investor sentiments. Forex traders said the rupee opened on a weaker note this morning and could remain under pressure as the tariffs from the US and outflows from FPIs weighed on the local unit. At the interbank foreign exchange market, the rupee opened at 88.18, then lost ground and touched an early low of 88.26 against the US dollar, registering a decline of 17 paise over its previous close.On Friday, the rupee breached the 88 per US…

The Chinese yuan held near a 10-month high against the dollar on Monday as the central bank maintained a firm fixing, with further gains likely as financial markets brace for a resumption of Federal Reserve rate cuts. The yuan was 0.01% lower at 7.1311 to the dollar by 0355 GMT, after strengthening to 7.1270 in earlier trade. The offshore yuan fetched 7.127 yuan per dollar, down about 0.06%. Prior to the market opening, the People’s Bank of China set the midpoint rate at 7.1072 per dollar, near the 10-month high seen on Friday and 209 pips firmer than a Reuters’…

The rupee depreciated 17 paise to 88.26 against the US dollar in early trade on Monday, as persistent foreign fund outflows weighed on investor sentiments.Forex traders said the rupee opened on a weaker note this morning and could remain under pressure as the tariffs from the US and outflows from FPIs weighed on the local unit.At the interbank foreign exchange market, the rupee opened at 88.18, then lost ground and touched an early low of 88.26 against the US dollar, registering a decline of 17 paise over its previous close.On Friday, the rupee breached the 88 per US dollar mark…

Representative image: Forex reserves | Photo Credit: Baris-Ozer India’s foreign exchange reserves (Forex) declined by $4.4 billion in the week that ended August 22 to $690.720 billion, driven largely by slump in foreign currency assets, the Reserve Bank of India (RBI) said in its latest ‘Weekly Statistical Supplement’.For the reported week, India’s foreign currency assets (FCA), the largest component of foreign exchange reserves, stood at $582.251 billion, down by $3.652 billion.The RBI data showed that the gold reserves currently amount to $85.003 billion, witnessing a decline of $665 million. After the latest monetary policy review meeting, RBI Governor Sanjay Malhotra…

The Indian rupee plunged to a record low, breaching the psychological 88-per-dollar mark for the first time amid mounting fears that US tariffs could undermine the country’s economic growth and strain its balance of payments, further hitting already fragile portfolio inflows, treasury dealers said. Before closing at 88.19, the rupee fell to 88.31 to the dollar, a level which likely saw the Reserve Bank of India stepping in, said bank treasury officials and currency dealers. “Only at around 88.30 level, there was some presence of the RBI, which helped reverse some early losses,” said a dealer with a mid-sized bank.…

The Dow Jones eased lower on Friday, testing below 45,500.Equities recoiled after US PCE inflation metrics rose in-line with forecasts.Despite fresh inflation pressure, markets are still banking on a September rate cut.The Dow Jones Industrial Average (DJIA) softened on Friday, easing back below 45,500 as stocks retreated due to another uptick in US Personal Consumption Expenditures Price Index (PCE) inflation figures. Despite rising inflation pressures, markets are still betting that the Federal Reserve (Fed) will deliver a fresh interest rate cut in September.Equities falter post-PCE but only slightlyThe Dow Jones is down, but certainly not out. The major equity index…

AUD/USD gained ground for a fourth straight session on Friday.The Aussie is gaining ground on a slumping US Dollar as Fed rate cut hopes remain.Markets largely shrugged off another uptick in US PCE inflation.AUD/USD caught a late-week lift on Friday, rising into the 0.6550 region after the latest US inflation data pushed the US Dollar (USD) lower across the board. The Australian Dollar (AUD) stepped into its fourth straight winning session against the Greenback, putting AUD/USD on a collision course with the top end of a technical range that has kept the pair constrained through most of the year.US inflation…