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- Dollar edges lower after US credit downgrade, Aussie pares losses before RBA
- Asia shares slip on mixed China data, drop in Wall St futures
- Hyundai Motor Manufacturing Middle East breaks ground for Saudi plant
- Qualcomm to set up Global Engineering Center in Abu Dhabi
- Saudi startup Ejari plans to scale as demand grows
- Gulf International Bank closes debut $500 million islamic syndicated financing facility
- Bahrain All Share Index closes higher
- Oman Investment Authority achieves 21% growth in asset value
- India's forex reserves hit 7-month high of $690.6 billion
- Saudi entertainment industry set to power economic diversification
15/05/2025 01:32 AST
The US dollar stabilized on Wednesday after recording its largest drop in more than three weeks overnight.
The decline followed lower-than-expected US consumer inflation data, bolstering the case for Federal Reserve easing just as global trade tensions cool, coinciding with a de-escalation in the US-China trade tensions.
The US Dollar Index, which measures the currency against six major peers, held steady at 100.94 after falling 0.8% on Tuesday.
On Monday, the index jumped 1%, reaching its highest level in a month, supported by optimism that the easing of trade tensions between the US and China would avert a potential global recession.
Against the Japanese yen, the dollar was stable at 147.45 yen, while the euro and the British pound showed little change, trading at $1.1188 and $1.3311, respectively.
The dollar rose 0.24% to 7.2122 against the Chinese yuan in offshore markets, rebounding from a six-month low of 7.1791 yuan reached yesterday.
Meanwhile, it edged down 0.1% against the Swiss franc to 0.8384.
The dollar index remains down by about 3% compared to its level on April 2, when former US President Donald Trump announced broad tariffs that prompted foreign investors to reduce their exposure to US assets.
QNA
| Ticker | Price | Volume |
|---|
| US Dollar | 1.00 |
| Euro | 0.88 |
| British Pound | 0.77 |
| Japanese Yen | 113.21 |
| Saudi Riyal | 3.75 |
| Kuwaiti Dinar | 0.30 |
| Derham Emirati | 3.67 |
| Bahraini Dinar | 0.38 |
| Omani Riyal | 0.39 |
| Qatari Riyal | 3.67 |
19/05/2025
The U.S. dollar trimmed a four-week gain in early Asian trade as markets digested a surprise downgrade of the U.S. government's credit rating and as lingering trade frictions weighed on sentiment.
Reuters
19/05/2025
India's foreign exchange reserves (forex) rose $4.553 billion to $690.617 billion in the week that ended on May 9, official data released by the Reserve Bank of India (RBI) showed.
The previ
Times of Oman
02/05/2025
It's proving to be a tough start to the month for Indian expats in the UAE, Saudi Arabia and other Gulf states, as they find they are getting less on their monthly fund flows home.
The dirha
Gulfnews
30/04/2025
As Chinese President Xi Jinping toured Southeast Asia this month to forge closer ties against higher US tariffs, the People's Bank of China was seizing a moment of confusion and disruption in global
Reuters
29/04/2025
The cryptocurrency markets are witnessing a turnaround, with a total market capitalisation surge of $300 billion, as Bitcoin broke through key resistance levels and continued its upward trajectory. B
Khaleej Times
Financial Information Co.
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