The euro weakened against its higher- yielding peers as the European Central Bank’s commitment to its package of stimulus measures boosted demand for currencies including Malaysia’s ringgit and South Africa’s rand.
Jonathan Cavenagh, a currency strategist in Singapore at Westpac Banking Corp., comments on the outlook for India’s rupee. The currency traded at 45.12 per dollar as of 11:39 a.m. in Mumbai, according to data compiled by Bloomberg.
Malaysia’s ringgit led an advance among Asian currencies this week amid the fastest economic growth in a year. India’s rupee extended its stretch of gains after the clearest election verdict in three decades.