Currency: the ruble and the rand stable, the dollar and the rupee down, yen up : Orishas-finance

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Currency: the ruble and the rand stable, the dollar and the rupee down, yen up

17/11/2023

Source : ORISHAS FINANCE

Categories: Economy/Forex

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Currency: the ruble and the rand stable, the dollar and the rupee down, yen up

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The currencies were trading at the end of this week in scattered order. While the Russian ruble and the South African rand are stabilizing, the dollar and the rupee are falling and the yen is rising

The Russian ruble stabilized near its highest level in more than four months against the dollar on Friday. At 0710 GMT, the ruble was unchanged against the dollar at 89.18, not far from its highest point since July 4 of 88.5725, reached on Thursday. It gained 0.5% to trade 96.76 against the euro and lost 0.1% against the

yuan at 12.29.

The South African rand was little changed in early trading on Friday, ahead of a review of the S&P sovereign credit rating and discussions by four U.S. Federal Reserve stakeholders that could influence markets.

At 0625 GMT, the rand traded at 18.3850 against the dollar, not far from its previous close of 18.3725.

Pour sa part, le The dollar is heading for its biggest weekly decline in months against the euro, the yen and the franc on Friday. At 1.0854 dollars per euro, the dollar lost 1.6% over the week, its biggest drop since mid-July. It is also down 1.6% for the week, to 0.8882 Swiss francs, and even lost 0.6% to trade at 150.53 on the yen, which is not

favoured.

The Indian rupee is expected to open with little change on Friday, amid falling oil prices and continued interest in buying dollars.

Undeliverable futures indicate that the rupee will open at 83.23-83.24, almost unchanged from the previous session. Par ailleurs, le The yen was on track for its best week in four months against the dollar on Friday, thanks to the prospect of a reduction in the rate gap between the United States and Japan.

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The Japanese yen last stood at 150.72 per dollar, remaining on the lowest side of the 150 threshold and not far from the one-year low of 151.92 per dollar on Monday.

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