Interbank Market News Scan: Pakistan rupee losing against the dollar; Reserve Bank of Australia under pressure to hike rates; Bitcoin strengthens.

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Interbank, State Bank of Pakistan. “The rupee continued to register marginal losses against the US dollar on Wednesday amid a slight uptick in greenback demand from importers.” See article here. Source: GeoNews

Interbank, Reserve Bank of Australia. “Bonds extended their losses as financial markets ramped up the pressure on the Reserve Bank of Australia to raise the cash rate as soon as May, in response to persistent inflationary pressures challenging its dovish stance.” See article here. Source: Financial Review

Interbank, Nepal Rastra Bank. “Foreign reserves have depleted due to high imports in the country. According to the data released by Nepal Rastra Bank (NRB) the current foreign reserves can support the import of goods and services for six and half months only.” See article here. Source: Khabarhub

Interbank, Bangladesh. “The Bangladesh Bank has asked foreign-currency dealer banks to submit their daily exchange position statements using a new rationalised input template (RTI) to ensure better monitoring. In a circular on Monday, the central bank said it had decided to replace the existing RTI for further convenience of supervision.” See article here. Source: The Business Standard

Foreign exchange, India, travel. “With countries around the globe opening doors to vaccinated travelers, foreign travel bookings are witnessing a massive surge in India. The rise in globetrotting among Indians has led to a considerable increase in forex transactions as well.” See article here. Source: IndianWeb2

Foreign exchange, South Africa, rand. “A generally weakening rand and mounting inflationary pressures have meant the South African Reserve Bank (SARB) has once again raised interest rates, to the distinct detriment of the weakest members of our society.” — Brian Benfield. See article here. Source: BizNews 

Foreign exchange rates of interest as of 9:18 am EDT

EUR/USD=1.1418

GBP/USD=1.3539

USD/MXN=20.6288

USD/GTQ=7.5230

USD/NGN=415.644

USD/GHS=6.3541

USD/VND=22,706.1

USD/JPY=115.431

USD/INR=74.6417

USD/BTC=0.00002

USD/ETH=0.00032

Source: OANDA

Dollar Index=95.47

Source: MarketWatch

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