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Currency: the dollar and the rupee up, the yuan falls

15/07/2024
Source : ORISHAS-FINANCE
Categories: Economy/Forex

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The dollar appreciated, while the Indian rupee is expected to rise slightly despite the weakness of its Asian counterparts and the Chinese yuan is falling from its highest month.

The dollar appreciated on Monday due to its security efforts following the assassination attempt on former US President Donald Trump, which left the yen struggling to stay afloat despite prior intervention efforts. Summaries of Tokyo. The dollar rose overall and pushed the euro down by 0.21% to $1.0887, while the British pound fell by 0.18% to $1.2966. The risk-sensitive Australian dollar fell by 0.17% to $0.6772, while the New Zealand dollar fell by 0.38% to $0.6095.

The Indian rupee is expected to open slightly higher on Monday, ignoring the drop in its Asian peers amid higher odds of Donald Trump winning the November elections.

Undeliverable futures indicate that the rupee will open at 83.50-83.52 per US dollar compared to 83.5350 in the previous session.

The Chinese yuan weakened on Monday after reaching a one-month high against the dollar in the previous session, following weaker-than-expected second-quarter data that indicated a slowdown in economic momentum and the need for further stimulus measures.

At 03:02 GMT, the yuan was down 0.13% to 7.2597 per dollar after recording its biggest weekly gains last week since the end of December.
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