Rupee tumbles 19 paise against greenback

The Indian rupee fell sharply against its US counterpart on Wednesday amid fund outflows by foreign funds and importers due to fresh demand for the American currency. Adding to it, weakness in global equity market also weighed on home currency movement. The equity markets tumbled amid fading hopes that the Trump government will deliver its tax cuts promises.

At the Interbank Foreign E

Big banks back off calls for euro-dollar parity

By Patrick Graham

LONDON  - U.S. bank Citi has abandoned its prediction of a fall for the euro to below parity against the dollar, the latest major lender to capitulate on long-term forecasts for a historic change in one of the world's big currency equilibriums.

The shift, sent to clients in a strategy note late on Friday, follows revisions by other

Halfway into 2017's oil supply cut, Asia remains awash with fuel

By Florence Tan and Henning Gloystein

SINGAPORE  - Halfway into an OPEC-led oil supply cut, Asia remains awash with fuel in a sign that the group's efforts to rein in a global glut have so far had little effect.

The Organization of the Petroleum Exporting Countries (OPEC) and other suppliers including Russia have pledged to cut production by almost

China to keep yuan broadly stable, allow more fluctuations

BEIJING  - China will maintain stability in its yuan currency while allowing more two-way fluctuation to reflect changes in supply and demand, the operator of its foreign exchange trading platform said on Wednesday.

The comments from the China Foreign Exchange Trade System (CFETS), which falls under the central bank, follows speculation that policymakers may be l

Rupee up 07 paise against dollar in early trade

The Indian Rupee was trading higher against the greenback on Monday amid fresh selling of the dollar by banks and exporters, while firmness in equity market also boosted home currency movement. The fresh fund inflows by foreign portfolio investors in local equity market also supported home currency movement. At the Interbank Foreign Exchange Market, the local currency was up by 07 paise to USD

Rupee tumbles 12 paise against dollar on Fed rate hike fears

The Indian rupee was trading lower against its US counterpart on Friday amid fund outflows by foreign funds and importers due to fresh demand for the American currency. Adding to it, weakness in Indian equity market also weighed on home currency movement. At the Interbank Foreign Exchange Market, the local currency was trading down by 12 paise to 67.02 per dollar from a previous close of 66.90

Dollar rises, world stocks hold highs on March Fed rate hike bets

By Nigel Stephenson

LONDON  - European stocks held near 15-month highs and the dollar strengthened against other top global currencies on Thursday on growing expectations that the U.S. central bank will raise interest rates later this month.

Federal Reserve Governor Lael Brainard became on Wednesday the latest central bank official to signal that a hike

Yuan, rupee outlook sours on Fed interest rate hike bets: Reuters poll

By Rahul Karunakar

The Chinese yuan and the Indian rupee are expected to weaken, although less than previously thought, reversing recent gains as rising chances of a U.S. interest rate hike this month boost the dollar, a Reuters poll found.

Since the start of the year, most Asian currencies have risen against the dollar, as uncertainty about President Donald Trump's econ

Rupee trades 10 paise up at 66.93 against US dollar

The Indian Rupee was trading higher against the greenback on Thursday as banks and exporters sustained selling of the dollar. The fresh fund inflows by foreign portfolio investors in local equity and debt markets also supported home currency movement.

At the Interbank Foreign Exchange Market, the local currency was up by 10 paise to USD 66.93 per dollar from a previous close of 67.03

U.S. consumer spending slows; inflation pressures firming

By Lucia Mutikani

WASHINGTON  - U.S. consumer spending cooled in January as demand for automobiles and utilities fell, but inflation recorded its biggest monthly increase in four years, raising the probability of an interest rate hike from the Federal Reserve this month.

The tepid gain in consumer spending added to weak housing starts, equipment spendin

Rupee tumbles 13 paise against US dollar

The Indian rupee was trading lower against its US counterpart on Wednesday amid fund outflows by foreign funds and importers due to fresh demand for the American currency. However, firmness in Indian equity market following higher-than-expected GDP data capped losses. At the Interbank Foreign Exchange Market, the local currency was trading down by 13 paise to 67.07 per dollar from a previous cl

China eyes 12 percent broad money supply rise in 2017 - sources

By Kevin Yao

BEIJING - China plans to target broad money supply growth of around 12 percent in 2017, slightly lower than last year's goal, policy sources said, signalling a bid to contain debt risks while keeping growth on track.

Under its new "prudent and neutral" policy, the People's Bank of China (PBOC) has adopted a modest tighteni

Rupee gains 16 paise against US dollar

The Indian Rupee rebounded strongly against the greenback on Monday as banks and exporters sustained selling of the dollar. The fresh fund inflows by foreign portfolio investors in local equity and debt markets also supported home currency movement. At the Interbank Foreign Exchange Market, the local currency was up by 16 paise to USD 66.92 per dollar from a previous close of 67.08 per dollar a

China FX regulator says strengthening supervision of forex market

BEIJING - China's foreign exchange regulator said on Monday that it will strengthen supervision of the forex market in 2017, while improving policy transparency and promoting the further opening of financial markets.

Chinese authorities have taken a raft of steps in recent months to curb capital flight from the country to support the weakening yuan currency,

Rupee edges lower against US dollar

The Indian rupee was trading lower with marginal losses against its US counterpart on Wednesday amid fund outflows by foreign funds and importers due to fresh demand for the American currency. However, firmness in Indian equity market boosted the home currency movement.

At the Interbank Foreign Exchange Market, the local currency was trading down by 02 paise to 66.97 per dollar from a

`Currency shortage could result in recessionary conditions`

One of India's leading experts on the black economy, who has studied, written about and lectured extensively on the phenomenon for nearly four decades, has said that the demonetisation design is flawed, the objective has not been achieved and there is a very real danger of the shortage of currency translating into recessionary conditions as the economy continues to suffer.

"W

How one Chinese region shows risks of relying on heavy borrowing

By David Stanway

SHENYANG, China - A flurry of construction in the Chinese city of Shenyang belies a regional economy in crisis, a striking example of the increasingly diminishing returns from a policy of investing heavily in infrastructure to prop up economic activity.

A new exhibition centre has just opened its doors in the city, the capital of Liaoni

Rupee extends rally against greenback

The Indian Rupee continued their gaining spree against the greenback on Tuesday as banks and exporters sustained selling of the dollar. The fresh fund inflows by foreign portfolio investors in local equity and debt markets also supported home currency movement.

At the Interbank Foreign Exchange Market, the local currency was up by 14 paise to USD 66.95 per dollar from a previous close

Rupee trades higher against greenback as Sensex gains

The Indian Rupee was trading higher against the greenback on Monday as banks and exporters sustained selling of the dollar, tracking firmness in Indian equities.

The fresh fund inflows by foreign portfolio investors in local equity and debt markets also supported home currency movement. At the Interbank Foreign Exchange Market, the local currency was up by 13 paise to USD 66.96 per do

Chinese yuan weakens

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 287 basis points to 6.8743 against the US dollar on Monday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 per cent from the central parity rate each trading day, Xinhua news agency reported.

The central

Yen rises as political worries stoke safe-haven bids

TOKYO - The dollar was stuck near a one-week low against a basket of currencies early on Friday, after upbeat U.S. economic data failed to lift Treasury yields.

The dollar index against a group of major currencies stood at 100.570 after hitting 100.410, its lowest since Feb. 9 plumbed overnight when it slid 0.7 percent.

18/02/2017 10:41:46 AM | Posted in Currency News read full news

Dollar falls as traders weigh next U.S. rate hike

 NEW YORK - The dollar weakened against a basket of major currencies on Thursday, posting its steepest one-day drop in over two weeks, due to lower U.S. bond yields and uncertainty over the timing of the Federal Reserve's next interest rate increase. The greenback posted losses for a second day, retreating further from a one-month high set during a winning streak where

Struggling European banks see light at end of low-rates tunnel

By John O'Donnell and Maya Nikolaeva

FRANKFURT/PARIS - Rock-bottom interest rates hurt more big European banks in 2016 than in the previous year, but the worst could soon be over with the prospect of rising borrowing costs rippling from the United States to Europe.

Low rates, money printing and a penalty charge for hoarding cash have been at the hea

Dollar wallows near one-week low, policy concerns limit bounce

* Dollar index stuck near 1-week low

* Dollar sags after US yields brush off upbeat data and declines

* Uncertainty over Trump's policies seen capping the dollar

By Shinichi Saoshiro

TOKYO - The dollar was stuck near a one-week low against a basket of currencies early on Friday, after upbeat U.S. economic data failed to lift Trea

Chinese yuan strengthens

 The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 173 basis points to 6.8456 against the US dollar on Friday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 per cent from the central parity rate each trading day, Xinhua news agency reported.