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At the heart of the offer is Russia’s return to the dollar settlement system, a move which would mean a stunning reversal of Kremlin policy and, potentially, a dramatic shake up for global finance.
Traders expect the rupee to trade between 90.40 and 90.95 in the near term
The dollar softened after US retail sales data pointed towards a cooling economy, giving room for the Federal Reserve to cut rates
Japan's yen has pulled back from critical levels after intervention warnings, but analysts warn the relief may be temporary as underlying pressures persist.
Friday’s rate-checking of the dollar-yen rate by Fed officials “drove down the US dollar further,” George Catrambone, head of fixed income at DWS Americas, told Bloomberg Radio
A chart chart highlights a drop in the dollar’s value over the past week, sparking concerns about its impact on the US economy and everyday Americans.
Strategists expect the greenback to weaken again in 2026 as the US central bank continues to ease monetary policy just as others hold steady or move closer toward raising rates.
The US shutdown may have given the dollar a break from volatility but its effect on the economy could hurt the greenback.
The US nonfarm payrolls report for September was due for release on Friday, but was not published due to the government closure
Greenback is weighed down by expectations of lower rates and threats to central bank independence
Piyush Goyal on Thursday said the government expects tax revenues to rise, not fall, following the rationalisation of GST rates, as higher demand will offset any rate cuts.
Spot gold was steady at $3,476.48 per ounce as of 0947 GMT, after hitting a record high of $3,508.50 earlier in the session. Bullion has gained 32% so far this year
Forex traders said rupee is trading in a narrow range amid extended weakness in the domestic equities and foreign fund outflows may also weigh on the domestic currency.
What will the global economy look like if it loses its monetary anchor?
The greenback was pinned near its weakest since September 2021 on the euro, and was at its lowest since January 2015 versus the Swiss franc
The rupee is vulnerable to geopolitical events more now than before
On June 20, Indian rupee closed at 86.60 a dollar, down 0.2 percent from its Thursday's close of 86.73 a dollar. So far in June, the rupee weakened 1.2 percent while so far in 2025 it has fallen 1.1 percent.
The US dollar, long seen as the ultimate safe haven, is behaving oddly in the face of geopolitical and economic stress. Despite high bond yields and global uncertainty, the greenback is weakening — and that’s raising deeper questions about its future
A thriving foreign exchange market facilitates speculation in the dollar and adds to its hegemony
The rupee closed stronger on the day at 85.37 against the U.S. dollar. It had weakened to a near one-month low of 85.8425 in early trading before the Reserve Bank of India stepped in to support the rupee, per traders. The currency declined 0.9% on the week.
Immediately after Russia’s invasion in February 2022, the central bank imposed capital controls and pegged the hryvnia at an official rate of about 29 to the U.S. dollar. Ukraine was forced to devalue later due to a buildup of fiscal imbalances.
Whatever happens with Trump’s tariffs, investors need to prepare for a new market paradigm
As global markets reel from the Trump administration’s trade blitzkrieg, a seismic shift may be brewing in the financial world: the unravelling of America's role as lender of last resort. With Washington backing away from its dollar diplomacy and central banks in Europe and Asia stepping up their game, the era of unquestioned dollar dominance may be closer to its end than anyone thought
The unit ended the session at 86.56 against the dollar, registering a gain of 25 paise from its previous closing level.
The rupee rose to a peak of 86.54 against the U.S. dollar, its highest since February 21, before closing at 86.57, up over 0.2% on the day.
