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Forex dealers said, the RBI sold Dollars to steady the Indian unit, which opened for trading nine paise weaker vis-a-vis the previous close. | Photo Credit: LeoWolfert The rupee recovered to close stronger on Friday despite flare up in the war between India and Pakistan and fall in domestic equity markets, with RBI reportedly intervening in the forex market.The rupee ended the day on a relatively strong note at 85.37 per US dollar as compared with the previous close of 85.71. Forex dealers said the RBI sold dollars to steady the Indian unit, which opened for trading nine paise weaker…

Forex traders said the rupee opened on a weak note on the escalation of hostility between India and Pakistan, however, RBI intervened to prevent major weakness The rupee pared its initial losses and settled for the day higher by 17 paise at 85.41 (provisional) against the US dollar on Friday, as likely intervention by the Reserve Bank of India helped contain excess depreciation of the rupee.Forex traders said the rupee opened on a weak note on the escalation of hostility between India and Pakistan, however, RBI intervened to prevent major weakness.At the interbank foreign exchange, the domestic unit opened at…

European Central Bank (ECB) policymaker Olli Rehn commented on the inflation and growth outlook on Friday.Rehn said that “disinflation is on track and the growth outlook is weakening.”Market reactionAt the time of writing, EUR/USD has regained 1.1250, up 0.23% so far. Euro PRICE Today The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the New Zealand Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.23% -0.14% -0.51% -0.07% -0.20% 0.03% -0.22% EUR 0.23% 0.09% -0.28% 0.16% 0.03% 0.25% -0.00% GBP 0.14% -0.09% -0.37% 0.07% -0.06% 0.16% -0.05%…

The Indian Rupee comes under renewed pressure as geopolitical tensions escalate between India and Pakistan.India’s announcement of neutralizing military threats along its northern and western borders has heightened risk aversion in domestic markets.The Reserve Bank of India is expected to step in, signaling its intent to curb excessive Rupee depreciation.The Indian Rupee (INR) loses ground against the US Dollar (USD), extending its losses for the fourth successive session on Friday. The USD/INR pair opened with a gap up following approximately 1% gain in the previous day. Traders will likely await India’s FX Reserves data later in the day.The INR faces…

The Rupee opened 9 paise weaker at 85.80 in the backdrop of the escalating war between India and Pakistan. The has been triggered by Pakistan-sponsored terrorists killing 26 tourists in Pahalgam, Kashmir, on April 22, 2025.The Rupee, which closed 88 paise down at 85.71 per US Dollar against previous close of 84.83, is currently trading at 85.8750 per US Dollar.Abhishek Goenka, Founder & CEO, IFA Global, said, “We expect the Rupee to trade in a 85.80-86.25 range with a weakening bias. While Rupee is likely to remain under pressure in the near term, the moment there is a sign of…

EUR/USD explored the low end once again on Thursday, testing 1.1200.Greenback market flows are on the high side after a pending US-UK trade deal announcement.The trade deal announcement has yet to be made official, but investors are hoping for further tariff walkbacks.EUR/USD trimmed into the low end on Thursday, shedding a little over two-thirds of one percent from the day’s opening bids after US Dollar (USD) bids caught a broad-market boost following the tentative announcement of a pending trade deal between the United States (US) and the United Kingdom (UK). Europe still appears to be on the outs with the…

USD/CHF extends gains as US Dollar benefits from positive trade deal headlines.US jobless claims drop to 228K, supporting broader USD strength.Technical indicators show key resistance at 0.9050 and support near 0.8900.The USD/CHF pair is trading higher as the US Dollar (USD) gains momentum on mixed economic signals and trade optimism, while the Swiss Franc (CHF) weakens amid broader risk-on sentiment. US President Donald Trump announced a “major trade deal” with the United Kingdom (UK), though initial excitement cooled after reports indicated that a 10% tariff on UK goods would remain in place, limiting the potential economic boost from the agreement.The…

The Mexican Peso holds steady as markets digest stronger-than-expected inflation data and global risk sentiment improves. Traders shift their focus to Banxico’s May 15 rate decision after both headline and core inflation exceeded forecasts. USD/MXN consolidates in a narrow range near support, with upcoming trade and policy signals expected to drive the next move. The Mexican Peso (MXN) swings between mild gains and losses against the US Dollar (USD) on Thursday, as markets digest stronger-than-expected Mexican inflation data alongside a cautious Federal Reserve and anticipation over a new US–UK trade deal. At the time of writing, USD/MXN is down 0.16%,…

The Bank of England cut its main interest rate by 0.25 percentage points to 4.25% on Thursday, despite an unexpected three-way split among policymakers as U.S. President Donald Trump’s tariffs weigh on global economic growth. The BoE’s Monetary Policy Committee voted 5-4 in favour of the decision to cut rates by a quarter point. Two members, Swati Dhingra and Alan Taylor, voted for a bigger half-point cut while Chief Economist Huw Pill and external member Catherine Mann wanted to keep interest rates on hold. The decision by the British central bank is its first since Trump announced wide-ranging tariffs on…

The rupee’s 1-month implied volatility, a gauge of future expectations, rose to an over two-year high of 6.3% | Photo Credit: FRANCIS MASCARENHAS The Indian rupee weakened sharply to log its steepest fall in more than two years on Thursday as the ongoing India-Pakistan conflict hurt the currency alongside the country’s bonds and equities.The rupee rose at the start of the session but weakened sharply after India said it had “neutralised” attempts by Pakistan to “engage” several military targets in its northern and western regions on Wednesday and early Thursday.Pakistan said it had shot down 25 Indian drones.India hit “terrorist…