Page 130 - Forex News Today

KUALA LUMPUR: The ringgit continued to remain under pressure as the outcome of the United States (US) debt ceiling talks remains highly uncertain despite inching closer to the early June deadline. 

The Australian and New Zealand dollars were headed for heavy weekly losses on Friday after plumbing six-month lows, as a disappointing China recovery, the U.S. debt ceiling impasse and hawkish Federal Reserve pricing bolstered the dollar.

ASIAN currencies rose on Friday as risk appetite improved after U.S. President Joe Biden appeared close to reaching a deal to raise the government's debt ceiling, while the ringgit went flat after its monthly inflation reading.

The Special Drawing Rights (SDRs) were down by USD 137 million to USD 18.276 billion, says the apex bank

In October 2021, the countrys forex kitty reached an all-time high of $645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments

At $524.94 billion, the foreign currencies account for a bulk of the forex reserves which stand at nearly $593 billion.

KUALA LUMPUR: A strong US dollar will likely continue in the near future and economies need to brace for another round of rough currency market as heightened risks would lead to a flight to safety phenomenon globally.

Indias overall foreign exchange reserves declined USD 6.05 billion to USD 593.477 billion in the week that ended on May 19, 2023, data released by Reserve Bank of India on Friday showed.

EPA proposes to make PFAS categorically ineligible for low volume LVEs and low release and exposure LoREX exemptions. EPA amendment: codify its practice that regards substances as persistent, bioaccumulative, and toxic are ineligible for the LVE and LoREX exemptions.

KUALA LUMPUR: The ringgit extended its downtrend against the US dollar this morning, breaching the 4.6 level as the greenback continued to strengthen on the expectation of an interest rate hike in the United States (US).