The Reserve Bank of India unveiled a series of measures in early June to attract dollar flows, which have drawn about $41 billion through the end of July
“If the trade deal with the US happens in the near future, then Indian rupee may quickly stabilise. Else Indian rupee could hover between 90 and 92,” says HDFC Bank
Average premium between the inter-bank and open market rate will be no more than 1.25 percent during any consecutive 5-business day period, the IMF had said in its country report on Pakistan
Nine-month Stand-By Arrangement provides time to implement policies critical to strengthening Pakistan's economic situation, says IMF’s Director of Strategic Communications Julie Kozack
Minister for Finance asks banks and ECs to avoid manipulation of the dollar, warns of strict action if institutions are found involved in unlawful practices
Global Public Investor survey, published annually by the London-based OMFIF think tank, shows 30% of central banks plan to increase yuan holdings over the next 12-24 months
In stark contrast to the yuan, 20% of central banks plan to reduce their holdings of the U.S. dollar over the next 12-24 months and 18% plan to reduce their euro holdings
"While they could offer convenient and efficient payment solutions," Panetta said, "they also risk endangering competition, privacy, financial stability and even monetary sovereignty."
At 0739 GMT, the rouble was down 0.2pc against the dollar at 75.89, edging away from its highest mark in nearly 10 weeks of 75.3025, reached on Thursday.
The central bank had previously linked reserve requirement ratios and remuneration rates to loan growth, which had spurred lending and economic growth.
The lira strengthened 1.1pc by 0830 GMT after Turkey's central bank said it had scrapped a rule that nudged banks to ramp up cheap lending, following last week's large interest rate hike.
NCOC states Peshawar has the highest percentage of COVID-19 positive cases with 19.65% followed by Karachi with 17.73%. Hyderabad has been rated at third place with 16.32%.
“Today will be another quiet day, with almost no catalyst to move the market. The dollar, however, is broadly pressured on month-end selling,” said Shinichiro Kadota, senior strategist at Barclays.
The Australian dollar was down 0.1pc at 0.7358, though earlier it rose to a near three-month high of 0.7374, and the Canadian dollar was neutral at 1.3007 against the U.S. dollar.
The British pound traded near a more than two-month high against the dollar as investors awaited details on trade talks between Britain and the European Union this week.
