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The Indian rupee ended nearly flat Friday at 95.21 per dollar, versus its previous close of 95.22, as oil companies bought dollars to prevent the rupee from appreciating. Some state-run banks also sold dollars, traders said. The rupee traded in a 10-paisa range of 95.29 and 95.19, and the bias was negative. Brent crude oil prices were trading around $83-84 per barrel. Source
The Indian rupee could appreciate towards the 94 level against the US dollar if strong FCNR(B) deposits and sustained FPI inflows continue, according to Kotak Securities’ Anindya Banerjee. The 94 mark stands as a critical level for the USD/INR exchange rate, with FCNR(B) inflows and Foreign Portfolio Investment (FPI) flows set to dictate the real impact on the Indian currency, according to Anindya Banerjee, Head of Commodity and Currency Research at Kotak Securities, speaking to ANI.“I think we can see the rupee appreciate towards the levels of 94. Technically also 94 is a very important level. If it appreciates beyond…
The Indian rupee ended little changed on Monday, retreating from a three-week high hit in early trade, as dollar demand from importers and state-run banks gathered pace, blunting the boost from a sharp fall in oil prices.The currency, which climbed to a peak of 95.1275 as Brent crude prices slumped after U.S. President Donald Trump called off an imminent attack in hopes of quickly reaching a deal, ended at 95.3375 per dollar against the 95.38 previous close.Talks between Washington and Tehran are scheduled on Monday, lifting global stocks, including those in Mumbai.While the rupee received a sentimental boost from the…
At the interbank foreign exchange, the rupee opened at 95.15 against the greenback before rising further to 95.12, up 31 paise from its previous close. | Photo Credit: FRANCIS MASCARENHAS The rupee surged 31 paise to 95.12 against the US dollar in early trade on Monday over a steep fall in global crude oil prices and a softer greenback after US President Donald Trump decided to hold off strikes against Iran.FII inflows, a rise in the country’s forex reserves, and Reserve Bank of India (RBI) support further strengthened the local unit, according to forex traders.At the interbank foreign exchange, the…
DBS Group Research anticipates China’s credit demand to stay weak in July, with new Yuan loans around RMB 10.8 billion and M2 growth at 8% year-on-year. Corporate and household medium- to long-term lending are likely to soften amid cautious borrowing and mortgage prepayments. Elevated precautionary savings and subdued property prices are expected to constrain investment and consumption.Weak lending and elevated savings”Credit demand remains weak, with new yuan loan is expected to stay at RMB10.8bn in July.””Both corporate and household medium- to long-term lending likely softened amid cautious borrowing sentiment and continued mortgage prepayments.””M2 growth is expected to remain at 8.0%…
United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann see USD/CNH confined to a narrow intraday range, with flat momentum suggesting consolidation between 6.7450 and 6.7550. Their 1–3 week view still anticipates the Dollar edging lower toward 6.7300 while 6.7640 caps the upside, and over 1–3 months a sustained recovery requires a break above the 21-week EMA at 6.8430.Dollar seen consolidating in tight band”24-HOUR VIEW: Following Wednesday’s price movements, we highlighted the following yesterday: “Despite the quiet price action, the underlying tone appears to be soft, and there is a chance for USD to test 6.7420. However,…
DBS Group Research expects Singapore’s final 2Q26 GDP to be revised up to 5.9% year-on-year and 1.3% quarter-on-quarter seasonally adjusted, driven by stronger manufacturing and services. With first-half growth above trend, the team sees a high chance the government will raise its 2026 GDP forecast to 4.0–5.0%, while still highlighting significant uncertainty and downside risks.Growth beats trend, forecast upgrade in sight”We expect Singapore’s final 2Q26 GDP print to be revised up to 5.9% yoy and 1.3% qoq sa, from the advance estimates of 5.7% yoy and 1.1% qoq sa.””The modestly higher growth figures were driven by a firmer manufacturing outturn…
A US official said on Friday that there is progress in Oman-Iran talks and that a deal could be signed soon, according to Reuters. Once the deal is announced, this would restore commercial shipping in the Strait of Hormuz, and the US would lift the blockade. Meanwhile, another official told ABC News that a temporary route was discussed and that it would be limited to 60 days. The official warned that nothing is final until publicly announced, and another source said that the Trump administration wants total freedom of commercial navigation through the Strait, without Iranian tolls or any arrangement requiring…
The British Pound retreats against the Japanese Yen, down about 0.24%, as the Yen is poised to end the week on a higher note. However, GBP/JPY is poised to finish the week with minimal gains, trading at 212.64.GBP/JPY Price Forecast: Technical outlookThe GBP/JPY trades sideways, though slightly tilted to the downside, following an intervention in the FX markets by US and Japanese authorities. Worth noting that after soft US jobs data, Japanese Finance Minister Katayama said she agreed with US Treasury Secretary Scott Bessent that FX markets had been affected by moves rather than fundamentals.This pushed GBP/JPY to the day’s…
Standard Chartered’s Jonathan Koh and Edward Lee now expect Bangko Sentral ng Pilipinas (BSP) to keep its policy rate unchanged at the 27 August meeting, abandoning a previously projected hike. The bank trims its 2026 Gross Domestic Product (GDP) growth forecast to 3.5% and lowers Consumer Price Index (CPI) expectations, while still projecting rate cuts in 2027 once inflation falls below 4%. BSP rhetoric is expected to stay hawkish.BSP seen on hold but still hawkish”We now expect Bangko Sentral ng Pilipinas (BSP) to keep its policy rate unchanged at its 27 August meeting, versus our previous forecast of a 25bps…