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The dollar index, which measures the US currency against six others, slipped to 96.688, its lowest since February 2022
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The issue was discussed during the meeting between Commerce and Industry Minister Piyush Goyal and Kan Zaw, Myanmar's Minister of Investment and Foreign Economic Relations, on the sidelines of the 12th East Asia Summit Economic Ministers' Meeting at Vientiane, Laos.
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Saudi Arabia and Russia shook the oil world when they extended production cuts to December
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In Asia, the yuan touched its lowest level since November in both the onshore and offshore markets, falling to as low as 7.2989 per dollar, and hitting a trough of 7.3379, respectively.
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Indian rupee on July 19 opened marginally lower tracking weaker Asian currencies
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An RBI-appointed committee recently suggested measures for the internationalisation of Indian rupee with inclusion in IMF's Special Drawing Rights Basket (SDR). The panel proposed integrating Indian currency for cross-border transactions as well.
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The rupee strengthened marginally against the dollar after four straight sessions of losses amid continued foreign investment in the local equities market
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The rupee opened weak for the fourth straight session, tracking losses in Asian currencies as the market adjusted its expectations for potential rate hikes by the Federal Reserve
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Volumes are not picking up on rupee internationalisation, said Dy Governor Sankar
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The home currency opened at 82.29 and touched a high of 82.23 a dollar -- a level last seen on 9 December. At 9.30am, the domestic currency was trading at 82.23 a dollar, up 0.3% from its previous close of 82.36.
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Stocks dropped in Japan, Australia and South Korea while futures for Hong Kong fell. Contracts for the S&P 500 and Nasdaq 100 rose after tumbling Friday, when Treasury yields climbed as year-ahead inflation expectations increased. US Yields fell slightly at the open in Asia
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The trend is unlikely to continue. Analysts expect the rupee to depreciate this month and likely surpass the 82.28 level amid continued strength in the dollar Index
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The Aussie firmed 0.5% on Thursday extending advances the previous day. The Canadian dollar touched a touched a 10-week high on Wednesday with one U.S. dollar worth C$1.245, before paring gains, also supported by higher Canadian inflation figures.
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Reliance Industries had allotted 42,26,26,894 – Rs 2.50 paid-up equity shares on rights basis last year.
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Deutsche Bank’s Currency Volatility Index languished at its lowest level since February 2020.
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ICICI Direct, The rupee strengthened gains for the third day in a row and managed to end 10 paise higher as dollar index strengthened ahead of expected announcement of new US stimulus.
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The virus, which originated in China, has left authorities across the globe grappling with how to stop its rapid spread and financial markets in disarray. It was forecast to prop up safe havens like the Japanese yen and Swiss franc by 2% to 3% this month.
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The dollar dropped more than 0.2% on the euro and the pound, and was 0.1% weaker against a basket of major currencies at 98.995.
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Oil prices surged nearly a fifth at one point following the strikes on two plants, including the world's biggest petroleum processing facility in Abqaiq, which knocked out more than 5% of global oil supply.
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Emerging market currencies have underperformed more broadly in the past couple of years as rampant Chinese demand for raw materials waned and stimulus from asset purchases trickled off, first by the Federal Reserve and then the European Central Bank.
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Bearish bets on the Chinese yuan, the South Korean won, the Singapore dollar and the Taiwan dollar rose, while long positions narrowed for the Indonesian rupiah and the Thai baht.
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Pan Gongsheng, head of the State Administration of Foreign Exchange, said at a financial forum in Shanghai on June 13 that the country's FX market is largely stable with FX reserves steadily rising.
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Sentiment slipped to 104.0 points in April from 105.6 in March, the European Commission said on April 29, marking the lowest level since September 2016.
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Most Asian currencies had initially firmed over China's better-than-expected first quarter GDP figures, but later retreated. A revival of the Chinese economy is considered beneficial for regional economies and global growth.
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Investors piled on long rupee bets in a return to bullishness earlier this month after a year.
