Maintenance Mode: Currency API servers are in maintenance mode until further notice (providers end).×
exRateCompare
exRateCompare Home About Us History Data Rate Alerts
Services
Blogs Contact Us



Most Asian Currencies Slip As Trade Tensions Weigh; Indian Rupee Falls Most

Admin   |   Posted On: September 11, 2019
Most-Asian-currencies-slip-as-trade-tensions-weigh;-Indian-rupee-falls-most-

Most emerging Asian currencies weakened against a sturdy dollar on Tuesday as investors fretted over the outcome of Sino-US trade talks, while weak economic data sent the Indian rupee tumbling.

Late on Monday, Bloomberg News reported that Chinese and US officials are struggling to agree on a schedule for a round of trade negotiations that were expected this month.

"Such headlines lay bare the tremendous gulf between the US and China in reconciling their differences over trad ..
The Indian rupee and the Malaysian ringgit were the worst performers in the region, playing catch up with peers as both markets re-opened for trade after a holiday on Monday.

The rupee plunged 1.2 per cent in tandem with its stock markets as investors priced in data released late on Friday which showed that its economy grew at its weakest pace since 2013 between April and June.

A private sector survey also pointed to weakness in its manufacturing sector in August, as demand a and output grew at their weakest pace in a year and cost pressures increased.

Economists said the chances of the Reserve Bank of India cutting interest rates were increasing.

"We now expect another 15-25 bp rate cut in December," Radhika Rao, economist at DBS Group Research wrote in a note on Monday.

"USDINR continues to watch CNY movements and broader dollar bias, which at this juncture points towards further INR weakness owing to a weak global environment," Rao add.

Logging a fall of about 3.4 per cent, the rupee is the region's worst performer this year after the Korean won and the yuan.


Credit:economictimes.indiatimes.com


Category: Currency
Article Tags: US dollarIndian rupeeUAE dirham

Frequently Asked Questions (FAQs)

  • 1. Can I send money with ExRateCompare, or are you just a service to compare various money transfer services?

    ExRateCompare is not a money transfer company, neither do we offer money transfer services. We are here to help you find the best way and best rate to send money. Tell us which country you want to send money from and which country you want to send money to, and we will show you a list of services and their rates. Once you select the best one for your needs, we will redirect you to the money transfer providers website and you can get started with your transfer.

  • 2. I use banks to send money, why should I consider other money transfer companies to send money?

    Banks are definitely an options for your to send money! But they might not be the best way to make international money transfers. Different banks would have different charges and fees, but the exchange rates can be different. We, at ExRateCompare lists as many banks as possible in our results, so feel free to check, compare the best rates.

  • 3. Do I need to come back to site frequently and keep checking the exchange rates?

    Currency exchange rates are dynamic and depends on various factors, they change frequently and it is our endeavour to bring you those exchange rates on a single screen. You should definitely check the exchange rates before making any transaction. To facilitate this, we have come up with Push, SMS and Mail Notifications, subscribe to these alerts and we would send you when the currency rate changes.