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Foreign exchange market: The pound sterling and the rupee up, the ruble down and the dollar stable

22/12/2023
Source : ORISHAS FINANCE
Categories: Economy/Forex

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The currencies are moving in scattered order this weekend. While the British pound and the rupee are making progress, the ruble is falling and the dollar is stable

.

The pound sterling rose slightly. Sterling rose by 0.36% to $1.2736 and is expected to gain 0.45% per week. The euro was down 0.26% against the pound at 86.55

pence.

The Indian rupee is expected to open higher on Friday.

Undeliverable futures indicate that the rupee will open at around 83.20-83.22 for the US dollar, compared to the close of the previous session at 83.2775.

For its part, the ruble approached its lowest level in two weeks, at 92 per dollar. At 0728 GMT, the ruble was 0.3% weaker against the dollar at 92.44, after sliding to a two-week low of 92.8025 in the previous session. It lost 0.2% to trade at 101.79 against the euro and lost 0.5% against the

yuan at 12.91.

In addition, the dollar stabilized above a low of more than four months on Friday. The greenback hit its lowest level in five months against the New Zealand dollar and in three weeks against the euro at the start of Asian trading, before turning positive again later in the session. The dollar index is still on track for a weekly loss of around 0.73%, which is expected to extend last week's 1.3% decline

.
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