On Tuesday, the People’s Bank of China (PBOC) continued to manage the yuan’s exchange rate against the U.S. dollar using a floating system, allowing for a fluctuation within a +/- 2% band. The system is designed to accommodate market supply-demand dynamics, economic indicators, and global currency market movements. The daily…

Investing.com – The U.S. dollar edged higher Tuesday, supported by its safe-haven status as violence in the Middle East continued, but gains were limited after dovish comments from a couple of Fed officials. At 03:05 ET (07:05 GMT), the Dollar Index, which tracks the greenback against a basket of six…

The Reserve Bank of India (RBI) has ceased the exchange or deposit of INR 2,000 notes in banks from Saturday, October 7, 2023. This decision follows the RBI’s announcement on September 30 that INR 3.42 lakh crore ($46 billion) out of the total INR 3.56 lakh crore ($48 billion) worth…

LONDON (Reuters) – Israel’s shekel hit its weakest level since early 2016 and the cost of insuring the country’s sovereign debt against default soared on Tuesday after a bloody weekend assault by Hamas militants put Israel on a war footing. The shekel softened 0.4% in early trade to hit 3.9544…

By Alexander Marrow (Reuters) -The Russian rouble dived towards a more than an 18-month low on Tuesday before paring most losses in a volatile session, under pressure from domestic demand for foreign currency and a drop in oil prices. By 1034 GMT, the rouble was 0.3% weaker against the dollar…

Neil Phillips, co-founder of Glen Point Capital and former hedge fund chief, is set to face trial next week in New York over allegations of manipulating the foreign exchange market tied to a $20 million transaction handled by Morgan Stanley. The bank’s involvement in the case was disclosed during an…

By Harry Robertson and Tom Westbrook LONDON/SINGAPORE (Reuters) -The euro strengthened as the dollar slid on Tuesday in reaction to a sharp drop in Treasury yields on the back of further dovish comments by Federal Reserve officials, as well as the prospect of stimulus from China. The slid and Treasury…

Investing.com – The safe-haven U.S. dollar gained in early European trade Monday as the escalation of the conflict in the Middle East hit risk sentiment, following on from last week’s strong payrolls report. At 03:00 ET (07:00 GMT), the Dollar Index, which tracks the greenback against a basket of six…

By Alexander Marrow (Reuters) -The rouble rebounded after slumping to a more than 18-month low against the dollar on Monday in a volatile session, still hampered by reduced foreign currency supply but eventually latching on to higher oil prices to gain ground. Events in the Middle East were hurting risk…

In the wake of a surprise assault by Hamas on Saturday, the Bank of Israel has taken decisive action to shield the depreciating shekel, which has been under significant pressure due to political instability and fears of a constitutional crisis. As of Monday, the shekel had weakened more than 2%…