The dollar index advanced to 100 for the first time in nearly two years. It rose as high as 100.19, its highest since May 2020.
NEW YORK (Reuters) - The U.S. dollar index on Friday posted its largest weekly percentage gain in a month, supported by the prospect of a more aggressive pace of Federal Reserve tightening to curb soaring inflation.
The dollar index rose as high as 100 in early European trading hours, its best level since May 2020. It later lost some momentum and was last broadly flat at 99.844.
Spot gold was flat at $1,929.52 per ounce by 0520 GMT. US gold futures were down 0.3% at $1,931.90
The rupee advanced 23 paise to 75.80 against the US dollar in the opening trade on Friday, amid the Reserve Bank of India maintaining status quo on the benchmark lending rate.
The dollar index rose as high as 99.904 in early Asia trade, its best level since May 2020.
The rupee declined 11 paise to close at 75.95 (provisional) against USD on Thursday as the hawkish stance of US Fed affected investor sentiments in global markets and bolstered the American currency
SINGAPORE (Reuters) - The dollar hovered near a two-year high against a basket of currencies on Thursday, after meeting minutes showed the Federal Reserve preparing to move aggressively to head off inflation.
Minutes of the Fed's March 15-16 meeting released Wednesday, showed deepening concern among policymakers that inflation had broadened through the economy.
Snapping its 3-day winning streak, rupee fell 47 paise to close at 75.76 against US dollar on Wednesday, tracking a strong American currency in overseas market and negative trend in domestic equities
TOKYO (Reuters) - Oil futures slid on Wednesday, extending losses from the previous day, as a stronger U.S. dollar prompted fresh selling while data showing a build in U.S. crude stocks and Shanghai's extended lockdown fuelled fears of slower demand.
Sri Lankan banks on Tuesday said US dollar reached over 300 against the country's rupee, LKR, for the first time, as the nation is facing a severe economic crisis with the shortage of foreign exchange
On Monday, the rupee started the financial year 2022-23 on a bullish note, spurting 21 paise to close at a one month-high of 75.53
The Pakistani rupee on Tuesday plummeted to an all-time low against the US dollar, trading at 185.40 PKR in the interbank market during intraday trading, up 1.31 PKR from 184.09 on April 1
The dollar index was little changed after three straight sessions of gains as talks of further sanctions against Moscow increased.
US currency also continued to benefit from a strong non-farm payrolls report for March that backed expectations for a half a percentage point tightening by the Federal Reserve at next month's meeting
The U.S. currency also garnered support due to its status as a pre-eminent safe haven, with peace talks between Russia and Ukraine stumbling, though they are set to resume later on Friday.
Financial sanctions imposed on Russia threaten to gradually dilute the dominance of the U.S. dollar and could result in a more fragmented international monetary system, IMF's Gita Gopinath said
The rupee advanced 23 paise to 75.67 against the US dollar in the opening trade on Thursday, supported by positive domestic equities and a fall in crude oil prices.