Sterling fell to a three-month low on Monday even as most COVID-19 restrictions in England were lifted, as a cautious tone in global markets meant riskier currencies lost out in favour of the safe-haven dollar.
The dollar rose and key US, European and global stock indexes hovered near record highs on Friday as investors embraced the easy monetary policies of major central banks and their message that rising inflation will be transitory.
UK government borrowing surged and retail sales slumped in September, official data showed Friday, dealing a further economic blow to a country in political crisis.
The rupee was trading at 82.32 per dollar by 0436 GMT, compared to its previous close 0f 81.88. In terms of the UAE dirham, the Indian rupee was trading around Dhs22.40.
Sterling tumbled to a fresh 37-year low on the US dollar on Friday, and a 19-month trough on the euro, after weaker-than-expected retail sales figures
The greenback gained about 0.6% on the risk-sensitive Australian dollar and the yen streaked ahead even further, gaining half a per cent on the dollar to a one-week high of 104.95, and rising more than 1% on the Aussie.
World shares rose to just below record peaks on Tuesday after factory surveys boosted expectations of a recovery from the COVID-19 downturn, with drugmakers seeking fast approval for vaccines and authorities looking
British private equity firm Apax Partners and alternative asset manager Blackstone have announced a $450 million investment in Indian travel tech major IBS Software.
Turkey’s lira held near a two-month low, its sovereign dollar bonds tumbled and the cost of insuring exposure to the country’s debt spiked as the presidential election
Global stocks skidded and the dollar jumped on Tuesday after Moody’s cut the credit ratings of 10 small to mid-sized US banks and China’s trade data was worse than forecast in July, raising caution about the economic outlook. The yuan slid to a three-week low as Asian stocks and the Australian and New Zealand dollars,