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Hegemony of the US dollar and finding an alternative

This article is published by Mehdi Hussain, doctoral candidate, Centre for South Asian Studies, Jawaharlal Nehru University, New Delhi.

US dollar (Reuters)
Published on May 02, 2023 06:43 PM IST
ByHindustan Times

Cat brings cash to its human, netizens react. Watch

An adorable video shows a cat bringing some cash to its human parent. Watch what the human has to say.

Cat brings cash to its human.(Reddit/@Resident_Code3062)
Published on Apr 06, 2023 09:06 AM IST
ByVrinda Jain

The influence of US as a global leader is waning

There is no conclusive evidence, but the influence of the US as the leader internationally appears to be on the wane. Will China replace the US in that leadership position? Time and what transpires over the next decade or so — in the US, in China, and around the world — will shape that story.

Now the US dominance is threatened by China, the second largest economy in the world. What is undermining a US-dominated world order, however, is not just the rise of China and the Sino-Russian alliance, or the de-dollarisation drive, but also dwindling support for a US-led order domestically. (REUTERS)
Updated on Apr 04, 2023 07:30 PM IST

Pakistan central bank raises key interest rate 100bps to record 21%

Soaring prices have put pressure on household budgets and left many desperate, with at least 16 people killed in stampedes for food aid last week.

Burqa-clad women wait for free bread at a distribution point in Peshawar on April 3. (AFP)
Published on Apr 04, 2023 05:37 PM IST
Reuters | | Posted by Yagya Sharma

Adani Group's $2.5 billion share sale faces crucial day. Here's why

Bloomberg reported that a plunge in dollar bonds of Adani Group companies quickened on Monday after a rebuttal by the Indian conglomerate failed to ease concerns following Hindenburg Research's report.

Vehicles move past a signage near the entrance of Adani Corporate House in Ahmedabad,(AP)
Updated on Jan 30, 2023 09:35 AM IST
By | Written by Aniruddha Dhar, New Delhi

Rupee appreciates 15 paise to 82.47 against US dollar in early trade

Rupee vs Dollar Today: The dollar index, which measures how strong the dollar is relative to a basket of six different currencies, increased 0.03 percent to 105.07.

Representational Image
Updated on Jan 06, 2023 10:29 AM IST

Rupee ends 2022 as worst-performing Asian currency: Report

The rupee finished the year at 82.72 to the U.S. currency, down from 74.33 at the end of 2021, while the dollar index was headed for its biggest yearly gain since 2015.

The rupee was also a victim of a rally in oil prices sparked by the Russia-Ukraine conflict, which pushed India's current account deficit to a record high in the September quarter in absolute terms.
Published on Dec 30, 2022 07:55 PM IST
Reuters |

Rupee flat against US dollar in early trend, trades at 82.76 for 1 USD

Rupee vs Dollar today: Traders said the domestic unit is in a narrow range because muted domestic equities, as well as sustained foreign fund outflows, capped the appreciation bias.

Representative Image
Published on Dec 29, 2022 10:54 AM IST
By, New Delhi

Rupee declines 9 paise to 82.74 against US dollar in early trend

Rupee vs Dollar today: The weakening of Rupee is attributed to rising crude prices worrying investor's sentiment along with foreign fund outflows further coupling the trend

Rupee vs Dollar today: Rupee opened at 82,71.
Updated on Dec 27, 2022 12:24 PM IST

How is Rupee faring vs Dollar

Rupee maintains spot against US dollar in early trade. It traded flat against US dollar amid weak stocks, firm crude oil.

Rupee vs Dollar rate today.
Updated on Dec 30, 2022 08:52 PM IST

'Won't hide failure': Opposition leaders on Sitharaman’s 'rupee-dollar' comment

Nirmala Sitharaman said that the rupee has “performed much better than many other emerging markets”.

Union Finance Minister Nirmala Sitharaman.(ANI)
Updated on Oct 16, 2022 05:33 PM IST
By, New Delhi

Customer gives $500 to shop owner for a bracelet. His reaction is heartening

The man surprised a shop owner with $500 for his kind gesture.

Man gave $500 to the shop owner.(Instagram/@mdmotivator )
Published on Oct 14, 2022 05:30 PM IST
ByVrinda Jain

London in UK attracts American tourists, despite inflation, amid weak pound

A strong dollar and a weak pound means many of the quintessentially British tourist experiences are cheaper for the Americans travelling to London in United Kingdom.

Pedestrians walk plast the Elizabeth Tower, more commonly known as Big Ben for the bell inside the tower's clock, at the the Houses of Parliament in central London. The British government on Monday brought forward key economic forecasts to Halloween, hoping not to spook markets further. London in UK attracts American tourists, despite inflation, amid weak pound.(Photo by CARLOS JASSO / AFP)
Updated on Oct 12, 2022 05:29 PM IST
Bloomberg | | Posted by Zarafshan Shiraz

Man’s bubblegum blowing contest with cashier ends with a surprising twist. Watch

A cashier was called to compete in a bubble blowing competition. What happened next will leave you surprised.

This man competed in a bubble blowing competition.(Instagram/@jimmydarts)
Published on Oct 12, 2022 02:36 PM IST
ByVrinda Jain

Rupee slips below 81-mark against US dollar for first time in early trade

On Thursday, the rupee plunged by 83 paise -- its biggest single-day loss in nearly seven months -- to close at an all-time low of 80.79 against the US dollar.

Representative Image
Updated on Sep 23, 2022 11:01 AM IST

Rupee climbs to 5-week high on US dollar inflows: Report

The rupee closed at 79.1475 per U.S. dollar, compared with the previous close of 79.5225, notching up its best session this month

The rupee reached 79.0350 around the middle of the session, its highest level since Aug 5
Published on Sep 13, 2022 03:59 PM IST
Reuters | | Posted by Aryan Prakash

The Crossing of the re line of Euro-dollar Parity

The article has been authored by Partha Ray, director, National Institute of Bank Management.

As per the July 2022 estimates (the latest available) of the Eurostat, the statistical office of the European Union, seasonally adjusted GDP increased by 0.7 per cent in the euro area in the second quarter of 2022, compared with the previous quarter.(HT File)
Published on Aug 26, 2022 12:19 PM IST
ByHindustan Times

Rupee rises by 22 paise to close at 79.02 against US dollar

The rupee touched a high of 79.00 and a low of 79.22 before settling at 79.02 (provisional).

Representational image. 
Published on Aug 01, 2022 04:18 PM IST

Indian rupee at over 1-wk high on broad dollar losses; bond yields slip

The US Federal Reserve has signalled a 75 basis point rate hike at its July 26-27 meeting, although data last week showing inflation hit 9.1% year-on-year in June raised the possibility of a larger 100 bps hike later this year.

Representational image.(Bloomberg)
Published on Jul 25, 2022 07:33 PM IST
Reuters |

Unstoppable dollar risks worsening $71 billion Asia stock exodus

The dollar has steamrolled through global currency markets lately, benefiting from bets on aggressive Federal Reserve rate hikes.

Unstoppable dollar risks worsening $71 billion Asia stock exodus(REUTERS)
Published on Jul 17, 2022 11:42 AM IST
Bloomberg |

Rising dollar threatens Asian stocks to worsen after $71 billion exodus

The MSCI Asia ex-Japan Index has fallen 20% as foreign investors took $71 billion out of stock markets in emerging Asia outside China so far this year, already double the outflows in 2021.

US dollar banknotes are displayed in this illustration taken. (REUTERS)
Published on Jul 17, 2022 09:21 AM IST
Bloomberg |

Gold hits nine-month low as investors rush to dollar as haven

Bullion slid to its lowest intraday level in more than nine months after posting a fourth weekly loss Friday. Investors concerned about the prospect of a global economic downturn have turned in droves to the dollar, which is already up more than 2% this month.

Gold’s fortunes have ridden a roller-coaster ride this year as Russia’s invasion of Ukraine spurred a rally in the haven well above $2,000 an ounce in March, only for the momentum to fade as the growth and inflation outlook shifted.(Bloomberg)
Published on Jul 12, 2022 12:25 PM IST
Bloomberg |

Rupee falls 22 paise to record low of 79.48 against US dollar

At the interbank forex market, the local unit opened weak at 79.30 against the greenback and witnessed an intra-day high of 79.24 and a low of 79.49.

The dollar index, which measures the greenback's strength against a basket of six currencies, advanced 0.56 per cent to 107.60.(PTI)
Published on Jul 11, 2022 07:40 PM IST
PTI | , Mumbai

Rupee gains 12 paise to close at 78.94 against US dollar

At the interbank forex market, the local unit opened at 78.99 against the greenback and fell to an intra-day low of 79.12.

The recent decline in rupee has been roughly in line with other regional currencies.(Shutterstock)
Published on Jul 01, 2022 04:35 PM IST

‘Focus on economy…’: Rahul Gandhi to PM Modi on rupee's record low vs dollar

“I won't criticise you blindly,” the Congress leader tweeted, as he recalled Modi's constant criticism on the same issue of former PM and predecessor, Dr Manmohan Singh.

File photo of Congress leader Rahul Gandhi.
Published on May 09, 2022 05:53 PM IST
By, New Delhi

Mumbai, Delhi and Kolkata home to India's most millionaire households: Survey

The Hurun Report findings on the dollar millionaires come at a time when there is rising concern about the growing inequality in India with a population of over 130 crore.

Mumbai is home to the largest number of dollar millionaires at at 20,300 households. (REUTERS)
Updated on Feb 18, 2022 05:03 PM IST

Turkish house sales to foreigners hit record level as lira slides

The 7,363 properties sold to foreigners was the highest monthly level since the data series began in 2013. By far the highest number of foreign buyers were Iranian citizens, followed by Iraqis and Russians.

A man changes Turkish lira for US dollars at a currency exchange shop, in Ankara, Turkey, Monday, Dec. 13, 2021. (AP)
Published on Dec 14, 2021 02:01 PM IST
Reuters |

NZ central bank keeps rates unchanged, flags economic uncertainties

The Reserve Bank of New Zealand (RBNZ) also retained its large scale asset purchase (LSAP) programme at NZ$100 billion ($73.24 billion).

RBNZ also revised its forecasts for growth, employment and inflation, all of which have returned better-than-expected results since the last policy meeting in November.(image via social media/ Twitter )
Published on Feb 24, 2021 08:00 AM IST
Reuters | , Wellington

Hopes fade for turnaround in Asia’s worst-performing currency of 2020

India’s forex reserves consequently rose to a record $586 billion, catching up with Russia, which has the world’s fourth-largest stockpile.

The rupee appreciated by 4 paise to 73.51 against the US dollar in opening trade on Monday as sustained foreign fund inflows and strong domestic equities strengthened investor sentiment.(PTI)
Published on Jan 21, 2021 12:35 PM IST
Bloomberg |

Dollar extends bounce as stimulus hopes stall short bets

The euro last traded as low as $1.2167 in Asia, after climbing as high as $1.2349 last week.

Havens which pay no income also fell, with bitcoin slumping as much as 12% to a one-week low and gold down 1% at a one-month low.(REUTERS)
Published on Jan 11, 2021 10:57 AM IST
Reuters | , Singapore
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