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Currency: the dollar and the ruble down, the rupee up

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

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The dollar seemed ready this weekend to end 2023 with a loss, while the Russian ruble weakened against the American dollar and the euro. For its part, the rupee is expected to open higher.

The greenback generally lagged during the last day of the year, as currency movements were limited due to the lull in the holiday season. Faced with a basket of currencies, the greenback fell 0.02% to 101.18, approaching a five-year low of 100.61 reached in the previous session. The dollar index is on track to lose more than 2% over the month and around 2.2% over the year.

Noted that the weakening of the dollar relieved other currencies, with the euro settling at 1.1076 dollars, close to its five-month peak, and on track to increase by more than 3% over the year. For its part, the pound was also on track to make an annual gain of 5%, its best performance since 2017. The British pound was last up by 0.04% to $1.2740

.

The Russian ruble weakened against the US dollar and the euro on Friday, the last day of 2023, after rising sharply the day before. At 0700 GMT, the ruble was 0.6% weaker against the dollar at 89.90. It slid 0.1% to trade at 99.72 against the euro and also lost 0.5% against the

yuan to 12.66.

At the same time, the Indian rupee is expected to open slightly higher on Friday. Undeliverable futures indicate that the rupee will open at around 83.12-83.14 for the US dollar compared to 83,1650 in the

previous session.
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