Page 17 - Currency Market

S&P lowers Sri Lanka's long-term local currency credit rating to 'CC'

Domestic debt restructuring plan triggers action

From Africa to Latin America, trade in local currencies on the cards

Move comes after RBI-UAE Central Bank inks historic pact last week

China has $3 trillion of 'hidden' currency reserves, says US economist

A lot of the country's foreign-exchange reserves don't show up in the official books of the People's Bank of China, the former US trade and Treasury official wrote in a report

Rs 2,000 denomination note may lose legal tender status by year-end

No sign yet of Rs 1,000 note making a comeback

Rupee records worst week since mid-March as US dollar regains strength

MUMBAI (Reuters) - The Indian rupee fell to a three-week low on Friday and registered its worst week in eight, dragged down by a broader strength in the dollar index.

Global finance dominated by few currencies, need to de-risk: RBI DG

A handful of currencies currently dominate global finance, and there is a need for de-risking by diversifying the international currency system by adopting liquid currencies, Reserve Bank Deputy Governor T Rabi Sankar said on Thursday. Speaking at the launch of a hackathon event organised as part of India's G-20 presidency, Sankar also appealed that central bank digital currencies (CBDCs) should be adopted more by other countries as well, terming the fiat digital currency as essential for maintaining financial integrity. It can be noted that India began its efforts to internationalise the rupee last year, under which the effort is to decrease the reliance on the USD-dominated trade, by making rupee payments possible. So far, 18 countries have opened rupee accounts. "We have a global financial system that is dominated in terms of transactions, in terms of invoicing, in terms of their usage for hedging and other purposes by a few handfuls of reserve currencies. "It would probably, ..

Euro slips on GDP data, yen slumps as BOJ maintains ultra-low rates

Preliminary data showed gross domestic product in the euro zone expanded by 0.1% in the first quarter, below expectations in a Reuters poll for 0.2%

Rupee seen flat at 82 for $1; US yields, importers hedging in focus

The Indian rupee is likely to open little changed to the U.S. currency on Tuesday, with traders assessing the outlook for U.S. yields and keeping a watch on importers' demand for the greenback

RBI net bought US dollars for first time in five months in November

The RBI purchased US dollars worth $22.28 billion and sold US dollars worth $17.92 billion in November, data in the central bank's January 2023 Bulletin showed

Rupee registers biggest weekly gain against US dollar in two months

Hope of reduced Fed rate hikes, lack of RBI dollar buys drive rupee gains

Rupee ends final week of 2022 higher as market mood improves

The rupee finished the year at 82.72 to the US currency, down from 74.33 at the end of 2021, while the dollar index was headed for its biggest yearly gain since 2015

Dollar retreats after overnight rally as China's Covid fears mount

China's capital warned on Monday that it was facing its most severe test of the COVID-19 pandemic, with a surge in COVID cases sparking fresh restriction measures

Rupee logs best single-day gain in 4 years as Fed hikes seen slowing

As dollar index breaches key technical levels, outlook on rupee improves

Rupee slides 38 paise against dollar as traders jittery before US CPI

Over the last three days of trade, the rupee had strengthened sharply against the US dollar, climbing to one-month highs. The domestic currency was at 82.89 on November 3

CBDC bond trades surge; volumes jump double-fold in second week

Bulk of CBDC wholesale pilot trading concentrated in liquid 5-yr, 10-yr bonds

Explained: Mahatma to Mangalyaan, how currency notes evolved in India

Delhi's Chief Minister Arvind Kejriwal said that efforts to make India wealthy would only bear fruit with blessings from gods and goddesses.

Rupee trade with few nations may start, internationalisation will take time

Rupee trade with few nations may start, internationalisation will take time

Rupee 4 paise higher over its previous close, settles at 82.75 against USD

The rupee pared its initial losses and settled 4 paise higher at 82.75 (provisional) against the US dollar on Friday, tracking a positive trend in domestic equities. At the interbank foreign exchange market, the local currency opened at 82.89 and witnessed a high of 82.59 and a low of 82.91. It finally settled at 82.75 against the American currency, registering a rise of 4 paise over its previous close. On Thursday, the rupee had rebounded from its lifetime low to close 21 paise higher at 82.79. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.47 per cent to 113.41. Global oil benchmark Brent crude futures fell 0.11 per cent to USD 92.28 per barrel. On the domestic equity market front, the 30-share BSE Sensex rose 104.25 points or 0.18 per cent to end at 59,307.15, while the broader NSE Nifty advanced 12.35 points or 0.07 per cent to 17,576.30. Foreign Institutional Investors (FIIs) were net buyers in the capital m

Japan's yen weakens past 150 per dollar for first time since August 1990

The fragile yen briefly weakened past 150 per dollar in early European trading for the first time since August 1990. It was last trading flat a little below that level

Rupee can drop further to 84.50 against US dollar by year-end: Poll

The rupee slipped to a record low of 83.2150 on Thursday