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The UN’s International Maritime Organization (IMO) paused the planned evacuation of more than 11,000 sailors stranded in the Strait of Hormuz after a Singapore-flagged ship passing through the waterway was attacked, BBC reported on Friday.IMO chief Arsenio Dominguez said that several boats had already been evacuated, but the agency wanted to ensure that “necessary safety guarantees” would continue to be in place.A White House official stated that it was too soon to say who struck the ship. The official, who spoke on condition of anonymity to discuss internal deliberations, said that the US was looking into which party was responsible…
Mumbai: Chances are you may buy dollars a little cheaper before the next vacation or wiring money to kids abroad. The Reserve Bank of India (RBI) has stepped up the heat on banks to push better deals for retail customers and small businesses.In a meeting few weeks ago, senior RBI officials asked the top brass of several banks to share data every three months on the number of such customers on-boarded on the separate, dedicated platform that offers a slightly more attractive exchange rates.The forex retail electronic platform, developed by the Clearing Corporation of India, allows resident individuals as well…
UOB economists Enrico Tanuwidjaja and Sathit Talaengsatya note that the Bank of Thailand (BoT) kept its policy rate at 1.00% and is expected to hold this level through 2027. They stress that Thailand’s recovery is narrow, with strength in technology exports but weak household demand and SME credit. They see cost-push inflation as temporary and not a trigger for rate hikes.BoT seen on extended on-hold stance”We maintain our view that 1.00% is the terminal rate for this cycle and expect the BoT to remain on hold throughout the rest of 2026 and throughout 2027. Persistent economic slack, weak demand-driven inflation,…
The dollar headed on Thursday for its biggest monthly gain in almost a year, ahead of U.S. inflation data that could support many investors’ growing belief that the Federal Reserve will need to raise rates at least once this year.The dollar hit a 13-month high against the euro on Wednesday, leaving the single European currency below $1.14. It also sent the pound to seven-month lows and kept the Japanese yen around its weakest in 40 years, around 161.9.Dollar strength has pushed gold briefly below $4,000 an ounce for the first time in more than seven months and sent bitcoin under…
Annual inflation in the United States (US), as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, climbed to 4.1% in May from 3.8% in April, the US Bureau of Economic Analysis (BEA) reported on Thursday. This reading came in line with the market expectation. In this period, the core PCE Price Index, which excludes volatile food and energy prices, rose 3.4%, as anticipated.On a monthly basis, the PCE and the core PCE rose 0.4% and 0.3%, respectively.Other details of the publication showed that Personal Income and Personal Spending both increased by 0.7% on a monthly basis…
The rupee appreciated 16 paise to settle at 94.39 (provisional) against the US dollar on Thursday as global crude oil prices continued to slide.Positive sentiments in the domestic equity markets and a marginally weaker greenback further supported the local unit while FII outflows prevented sharper gains, forex traders said.At the interbank foreign exchange, the rupee opened at 94.30 against the dollar and traded in the range of 94.13-94.56. It settled at 94.39 (provisional), up 16 paise from the previous close.The rupee appreciated 21 paise to settle at 94.55 against the US dollar on Wednesday.”The rupee strengthened on falling commodity prices…
Commerzbank notes that the Bank of Thailand (BoT) kept its policy rate at 1.0% and signalled a cautious stance, prioritizing growth risks over inflation. USD/THB has risen for five consecutive sessions, up 0.9% to 33.43. Officials attribute Thai Baht (THB) weakness mainly to broad US Dollar (USD) strength and equity outflows, while stressing readiness to smooth excessive FX volatility if needed.Baht under pressure as BoT watches”Bank of Thailand (BoT) unanimously voted to keep the policy rate unchanged at 1.0% for the second consecutive meeting, matching market expectations. The Committee assessed that the current policy stance remains accommodative to support the…
The rupee rose 31 paise to 94.24 against the US dollar in early trade on Thursday as global crude oil prices continued to decline and went below levels seen before the start of the West Asia conflict.A weaker greenback and positive sentiments in the domestic equity market further supported the local unit while heavy FII outflows prevented a sharper rise, forex traders said.At the interbank foreign exchange market, the rupee opened at 94.30 against the US dollar and strengthened further to 94.24, up 31 paise from its previous close.The rupee appreciated 21 paise to settle at 94.55 against the US…
Gold (XAU/USD) meets with a fresh supply during the Asian session on Thursday and slides back to the lowest level since November 2025, set the previous day. The commodity retains bearish bias for the third straight day as traders look forward to the release of the US Personal Consumption Expenditures (PCE) Price Index. The crucial data will dictate the Federal Reserve’s (Fed) policy path and directly affect the non-yielding bullion.In the meantime, inflation fears have receded recently as Crude Oil prices have fallen significantly following the reopening of the Strait of Hormuz. Furthermore, a temporary 60-day sanctions waiver that authorizes…
Mumbai: The Indian rupee was marginally stronger on Wednesday and closed at 94.66, versus its previous close of 94.73 per dollar. The currency however reached an intraday low of 94.91 in early hours of the day, where dollar sales by state run banks, likely on behalf of the RBI, helped contain further losses, traders said.The weakness in the currency came in as the dollar index strengthened due to increasing expectations that the US Federal Reserve may raise interest rates later this year. The DXY was at 101.6 on Wednesday, its strongest level in 13 months. Source