Gold Silver Reports (GSR) – Forex Intervention & Reserves — The third criteria used by the U.S. Treasury department is the only real reason why India has been included in the watch list of currency manipulators.
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India May Give Freer Rein to Rupee After Making U.S. FX List
Gold Silver Reports (GSR) – India May Give Freer Rein to Rupee After Making U.S. FX List – India increased its purchases of foreign currency last year and has a “significant” trade surplus with the U.S., the Treasury noted in its semi-annual report on foreign-exchange practices released in Washington on Friday. The rupee has been the second-worst performing Asian currency this year, dropping 2.4 percent against the dollar, after strengthening 6.4 percent in 2017.
A Fund That Beats 98% of Its Peers Is Shorting the Dollar
Gold Silver Reports (GSR) – A Fund That Beats 98% of Its Peers Is Shorting the Dollar – The greenback will slip against most major currencies as nations from Japan to the U.K. see better growth, spurring higher rates in those markets, said Brendan Murphy, head of global and multi-sector fixed income at BNY Mellon Asset Management North America. Murphy, who manages the $1.1 billion Dreyfus International Bond Fund, is shorting the dollar in favor of long positions across currencies including the Japanese yen and Norwegian krone.
India Forex Reserves At Record High Of $424.864 Billion
Gold Silver Reports (GSR) – In the previous week, the reserves had surged by $1.828 billion to $424.366 billion. It had crossed the $400-billion mark for the first time in the week to September 8, 2017, but has since been fluctuating. In the reporting week, the foreign currency assets, a major component of the overall reserves, rose by $657.7 million to $399.776 billion.
Rupee Rebounds From Five-Month Low Against U.S. Dollar
Gold Silver Reports (GSR) – Rupee Rebounds From Five-Month Low Against U.S. Dollar – After opening higher, the rupee shed 3 paise to 65.29 against the U.S. dollar in early trade today despite better-than-expected inflation numbers released yesterday.
Rupee Weakens Against U.S. Dollar
Rupee Weakens Against U.S. Dollar — Rupee opened lower at 65.33 per dollar against U.S. dollar against yesterday’s close of 65.30.
China Foreign Reserves Rise on Yuan Gains
Gold Silver Reports (GSR) – Reserves rose $8.34 billion to $3.143 trillion in March from the previous month, the People’s Bank of China said Sunday. That was slightly below the $3.146 trillion estimate survey of economists. The March figure marks a turnaround after falling in February for the first time in 13 months. The State Administration of Foreign Exchange expects the country’s foreign reserves will remain stable.