The greenback has been bolstered by stronger-than-expected growth data, including retail sales data for March released on Monday. Stickier-than-hoped inflation in particular is seen as making it less likely that the Federal Reserve will begin cutting interest rates in the coming months. “The reality is that you have an expanding economy,” said Juan Perez, director […]
The Indian rupee ended at 83.4250 against the dollar – its lowest closing level on record – down 0.3% from its close at 83.1475 on Thursday. The rupee hit an all-time low of 83.43 near the end of the session and fell 0.7% this week, the steepest decline in seven months. While the weakness in […]
The dollar index, which measures the U.S. currency against six other major currencies, was last down 0.12% at 103.35. It has risen around 2% this year as the U.S. economy has fared better than expected, causing investors to rein in their bets that the Fed will cut rates quickly and deeply in 2024. Markets are […]
The euro was last up 0.2% at $1.0885, building on Thursday’s 0.49% gain, and the pound was up 0.15% at $1.2761, having jumped 0.43% the previous day. That left the dollar index, which tracks the currency against six main peers, at 102.93, down 0.12% on the day and around a one-week low. The index is […]
The rupee weakened on Monday, as the dollar demand from importers and corporates, looking to meet month-end commitments, weighed on the domestic currency, dealers said. In the interbank market, the rupee lost 0.38 percent, or 62 paisas, against the dollar, as it closed at 160.71/dollar, compared with 160.09 on Friday. The rupee ended weaker at […]
The United States dollar fell to a six-month low against the rupee in the interbank market, losing 14 paisas to reach Rs159.97, according to data released by the State Bank of Pakistan on Tuesday. The last time the dollar stood at similar levels was earlier this year on May 8, when it was changing hands […]
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