At the beginning of this week, currencies move in scattered order. While the Indian rupee is up, the pound and yen are stable. The Chinese rand and yuan registered a decline.

The Indian rupee recorded modest gains on Monday following dollar sales by foreign banks. It was at 83.4325 against the US dollar at 10:00am IST, up slightly from its close at 83.47 the previous session. According to traders, the currency fell to an all-time low of 83.5750 on Friday, but recovered thanks to massive intervention by the Reserve Bank of India

For its part, the pound sterling remained stable against the dollar and appreciated slightly against the euro, after reaching its lowest level since November last week. It was stable at $1.2367 at 07:57 GMT, after touching its lowest level in five months last week. The British pound lost around 3% of its value against the dollar in 2024, mainly due to the drastic revaluation of traders in the extent of the possible fall in American interest rates by this

Pour sa part, The yen reached 154.70 per dollar, not far from last week's 34-year low of 154.79 and quite close to the 155 level, which is the next level of alert for traders about a possible intervention by the Japanese authorities. The yen was one of the biggest losers against the dollar this year, with losses of 9%

In addition, the rand lost ground last week as reports of an Israeli strike against Iran raised fears of an escalation of the conflict and pushed traders to the dollar, a safe haven. At 07:56 GMT, the rand was trading at 19.0925 against the US dollar, about 0.1% lower than its previous close. The dollar was stable.

The Chinese yuan weakened on Monday to its lowest level in five months against the dollar. It was trading at 7.2432 per dollar at 03:57 GMT, the lowest level since mid-November 2023 and slightly lower than the previous close, despite daily central bank benchmarks and support from public banks. The currency is down 2% this year, under pressure from its relatively low returns compared to other currencies and foreign investment outflows from an anemic stock market