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Explained | Dollar domination: Why global markets depend on the US currency

A Fed research paper estimated in 2017 that as much as 70% of all dollars are held outside the United States and 60% of all $100 bills circulated overseas.

Rupee slips 19 paise to 69.45 vs USD in early trade ahead of RBI policy outcome

Forex traders said that foreign fund outflows and rising crude oil prices also kept pressure on the Indian rupee. The RBI's Monetary Policy Committee (MPC) is slated to announce its bi-monthly policy decision later in the day.


Rupee slips 13 paise to 70.07 vs USD in early trade

Forex traders said, rising crude oil prices and strengthening of the US dollar against some major rival currencies overseas also pulled down the local unit.

Dollar hovers near 6-week low vs yen as US-China trade talks awaited

Markets were nervously awaiting the start of two-day trade talks in Washington later in the global day to see if Chinese negotiators can convince the White House to back down on a threatened tariff hike Friday.

Dollar to reign for another 3-6 months, then cede ground

The poll consensus was for the dollar index to underperform over the coming 12 months, with the euro forecast to gain 5 per cent to $1.18 - a similar prediction to last month.

Rupee opens marginally higher against US dollar

Meanwhile, the benchmark BSE Sensex rose 83.10 points, or 0.22 per cent, to 38,178.17 in early trade.


The Dollar is still king. How did that happen?

This has played out despite a chorus predicting after the financial crisis that the dollar might finally surrender some of its dominance; that, in an age of pushback to American exceptionalism, it was time for someone else’s money to have a turn.

Rupee strengthens 38 paise against US dollar

Meanwhile, the BSE benchmark Sensex rebounded 377.12 points, or 1.11 per cent, to 34,378.27 in opening trade.

Rupee at 2-week high, gains 53 paise in early trade

The dollar's weakness against some currencies overseas on easing trade war concerns and a higher opening of the domestic equity market supported the rupee, forex dealers said.

Rupee recovers 10 paise against US dollar in early trade

Besides, dollar-selling by exporters and banks, fall in crude prices in the global market and weakness in the dollar against some currencies overseas amid US-China trade conflict, helped the domestic currency rebound, forex dealers said.