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The Indian rupee has emerged as the worst-performing emerging market currency as President Trump's aggressive 50 percent tariffs trigger unprecedented capital outflows and export challenges for Asia's third-largest economy
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Firms are receiving more requests for transactions including hedges that sidestep the dollar and involve currencies such as the yuan, the Hong Kong dollar, the Emirati dirham and the euro
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In late New York trading on Tuesday, the yuan dropped as much as 1.1% to 7.4290 per dollar—its weakest level since the offshore market’s inception in 2010—before recovering slightly on Wednesday
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The People’s Bank of China set the so-called fixing, which confines yuan’s trading onshore to a 2% range on either side, at 7.1879 per dollar on Thursday
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The People’s Bank of China set the so-called fixing at the strongest bias since July versus the average estimate in a Bloomberg survey on Thursday
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Yen carry trades are back but is another unwinding around the corner?
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Beijing’s first line of defense against higher tariffs is likely to be its currency. Good thing that it fits in with a dour economy
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The euro languished near an almost seven-month trough reached overnight, while the yuan wallowed close to a more than three-month low with Europe and China both particular targets of potential Trump tariffs.
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Some Asian and African economies that have less trade exposure to the U.S. are also expected to be more insulated to trade tensions.
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For the first time in six months, the cost of betting on a rise in the Indian rupee has surpassed the cost of wagering on its decline, driven by anticipated U.S. rate cuts and a Chinese yuan rally. Investors are now paying a premium for rupee call options, reflecting growing optimism.
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From OPEC's long-term demand forecasts to Visa’s antitrust battle and Smartsheet’s $8.4 billion acquisition, here’s a look at recent business developments around the world.
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The Chinese currency’s gains are notable because economic prospects have deteriorated
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Xiaomi CEO Lei Jun said the company's standard SU7 model will be priced at 215,900 yuan while its Pro and Max versions will 245,900 and 299900 yuan respectively.
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The People’s Bank of China shifted its fixing by 0.1% with traders still on tenterhooks after the yuan sank to its weakest since November on Friday. The currency rose as much as 0.2% in offshore trading in response to the reference rate and traded little changed onshore.
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In the spot market, the onshore yuan fell to the weak side of the psychologically important 7.2 per dollar level to hit a low of 7.24, its softest since Nov. 17, 2023.
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Ignoring the yuan’s rise because of China's recent economic troubles might be a mistake. Thanks to the country’s cumbersome capital controls, sending cash out of China has always been problematic and unpredictable. But that is poised to change now as the country takes small steps towards full capital account convertibility
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Financial shares led the gains on November 20 as investors prepare for an eventual end to negative rates, while auto makers have been benefiting from a weak yen and high exports.
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If Beijing returns to promoting export-led growth, tension over exchange rates may return
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Just imagine if the yuan hadn't weakened this year, along with the string of disappointing economic reports. There could have been bigger trouble down the line. In that sense, let's embrace a weaker currency, albeit not one that weakens forever
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Chinese Yuan has slumped around 6 percent during this time. In comparison, the Indian rupee has slipped only marginally by 0.5 percent against US dollar YTD.
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Asian shares edged higher on Friday as China stepped up efforts to support its housing sector and stabilise the yuan, though investors remained cautious ahead of U.S. jobs data that could make or break the case for further rate hikes.
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Beijing’s prowess at attracting supply chains over the past three decades, notwithstanding, China doesn't have a currency to back its ambitions — yet. Ironically, the dollar has become more dominant even as the US recedes as a proportion of global GDP, relative to the likes of China and India
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The yuan weakened against the dollar to 7.3027 in offshore trading, bouncing back from Thursday's nine-month lows
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The People’s Bank of China set its so-called fixing at 7.2006 per dollar compared to an average estimate of 7.3047 in a Bloomberg survey with traders and analysts.
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Net foreign currency reserves have fallen to roughly $4 billion from a peak of $15 billion in 2014, pressuring state finances and threatening Bolivia's long-defended currency peg with the dollar.
