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Foreign exchange market: all currencies in green except the Indian rupee

04/10/2024
Source : ORISHAS-FINANCE
Categories: Economy/Forex

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At the end of the week, currencies are improving except for the Indian rupee, which is expected to remain near its historic low due to outflows of foreign capital and concerns about oil.

Le dollar américain on Friday stagnated around a six-week high, on the verge of achieving its biggest weekly rise since April due to the demand for safe haven linked to rising tensions in the Middle East. The dollar index, which measures the value of the American currency in relation to six other countries, was at 101.92, not far from the six-week high of 102.09 reached on Thursday. For the week, the index rose by 1.5%. The dollar reached its highest level in six weeks thanks to solid data

.

The Australian dollar is heading for solid weekly gains against the Japanese yen and the New Zealand kiwi, although it has declined against the US dollar. The New Zealand dollar fell 2% to $0.6213 for the week, due to the outlook for significantly lower interest rates. The Australian dollar held back by risk aversion, the kiwi by calls for rates

.

The euro remained stable at $1.1034 after falling by 1.18% since the start of the week, while sterling suffered losses after slipping 1% on Thursday following dovish comments from Bank of England governor Andrew Bailey.

The naira is rising while the supply of dollars increases by 147.66%. La devise Nigeria e experienced a slight recovery on Thursday, while the The supply of dollars on the official market has increased significantly. Les données du FMDQ, basées sur les transactions quotidiennes sur le marché autonome des changes nigérians mention that the naira was learned Cacute; city of 0.60%, closing at 1 659.26 N for the US dollar, against 1 669.15 N on October 2, 2024

.

The Russian ruble strengthened on Friday against the yuan, after being supported by the increase in net sales of Chinese currency by the state the previous day as well as by the rise in prices of oil, Russia's main export product. At 08:00 GMT, the ruble gained 0.3% to 13.40 against the yuan on the Moscow Stock Exchange. The ruble was down 0.3 percent to 95.00 against the US dollar, according to LSEG data

.

Par ailleurs, la Indian rupee is likely to remain anchored near an all-time low on Friday, affected by concerns about a deluge of foreign money being withdrawn from domestic stocks and a rise in oil prices due to the Middle East conflict. the undeliverable futures contract At 1 month indicated that the rupee would open at 83.97-83.98 per US dollar, against 83.9675 during the previous session and a few hairs away from the historic low of

83.9850 reached a month ago.
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