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Foreign exchange market: downgraded currency order

03/09/2025
Source : ORISHAS FINANCE
Categories: Economy/Forex

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This Wednesday, the dollar held steady, while the South African rand is weakening. The Indian rupee ended up; the The pound sterling and the yen are weakened.

On Wednesday, the dollar retained most of its gains acquired the day before while gold again broke a record, the market turning to safe havens due to uncertainty policies and budgets. After taking off on Tuesday, around 09:45 GMT (11:45 to Paris), the greenback fell by 0.20% against the single currency European currency, at 1.1664 dollars for one euro, and 0.15% against the pound, at 1.3415 dollar.

The South African rand depreciated at the start of Session on Wednesday, pending the publication of a survey on the index purchasing managers (PMIs) and while global markets are waiting for key data from the United States to get new clues about the trajectory Federal Reserve interest rates.

At 05:45 GMT, the rand traded at 17.7250 for a dollar, about 0.2% lower than the closing price on Tuesday.

The Indian rupee ended up on Wednesday, while most Asian currencies were falling, investors banking on a short-term rebound in the currency. The weakness of the index of dollar and strong local stock markets also supported the feeling.

The currency closed at 88,0700, up 0.1 % compared to Tuesday's 88,1550. It has reached a peak intraday at 87.9900 before falling below the 88 threshold.

The rupee, which is among the Asian currencies The worst performers this year, hit an all-time low of 88.33 for one dollar on Monday, penalized by capital outflows and concerns related to the impact of American tariffs.

The pound sterling and the yen suffered strong Pressure on Wednesday, victims of a wave of sales fuelled by a resurgence Investors are worried about the health of public finances at scale global and on political uncertainty in Japan.

In Japan, the yen also lost more than 0.1%, at 148.60 for one dollar, after having already fallen by 0.8% the day before, following The announcement of the resignation of the secretary-general of the ruling party, Hiroshi Moriyama, close to Prime Minister Shigeru Ishiba.

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