<p>作者：贾斯普里特·卡尔拉</p>
<p>印度卢比在周五小幅波动，在假期交易中保持横盘，交易员表示，这一交易特点是常规的企业美元需求以及国有银行的间歇性参与。</p>
<p>截至印度标准时间上午 10:30，卢比对美元几乎持平，报 89.8325。</p>
<p>虽然交易员指出印度的国有银行间歇性地提供美元，但他们的中国同行则被看到在大量购买美元，这突显了这两个亚洲巨头货币的不同命运和前景。</p>
<p>人民币徘徊在每美元 7 元附近，今年以来对美元上涨约 4%，对卢比上涨超过 9%（CNYINR=R）。</p>
<p>ING 的分析师在一份报告中表示，尽管与美国达成贸易协议对卢比的表现至关重要，但中国出口商的收益回流增加可能提高人民币升值的可能性。</p>
<p>汤森路透：印度股市和卢比落后于中国同行</p>
<p>与此同时，美元 - 卢比远期溢价在周五继续下滑，1 年期隐含收益率下降 8 个基点至 2.75%，1 个月远期溢价小幅下滑至 39.50 派萨，此前在本周早些时候曾大幅上涨。</p>
<p>其他亚洲货币也大多保持区间波动，而美元指数徘徊在两个月低点附近，正朝着自 2017 年以来最糟糕的年度跌幅前进。</p>
<p>尽管一些同行的前景不同，但市场对美国联邦储备委员会进一步降息的预期对美元造成了压力。投资者还在等待特朗普总统提名新的美联储主席，以替代在 5 月任期结束的鲍威尔。</p>
<p>此外，澳大利亚、香港和大部分欧洲市场在周五休市，预计流动性将较低，因为交易员将注意力转向 2026 年。</p>

<p>印度卢比在假期交易中几乎持平，报 89.8325 兑美元，主要受到常规企业对美元的需求和间歇性国有银行干预的影响。人民币表现较强，2025 年兑美元上涨 4%，兑卢比上涨 9%。美元兑卢比的远期溢价持续下滑。其他亚洲货币波动幅度有限，美元指数接近两个月低点。澳大利亚、香港和大部分欧洲市场休市，预计流动性较低</p>

<p>By Jaspreet Kalra</p>
<div class="lb-trans"><p>作者：贾斯普里特·卡尔拉</p>
</div><p>The Indian rupee was little changed on Friday, hovering sideways in holiday-thinned trading, which traders said was characterised by routine corporate dollar demand alongside intermittent presence of state-run banks.</p>
<div class="lb-trans"><p>印度卢比在周五小幅波动，在假期交易中保持横盘，交易员表示，这一交易特点是常规的企业美元需求以及国有银行的间歇性参与。</p>
</div><p>The rupee  was nearly flat at 89.8325 against the dollar, as of 10:30 a.m. IST.</p>
<div class="lb-trans"><p>截至印度标准时间上午 10:30，卢比对美元几乎持平，报 89.8325。</p>
</div><p>While traders pointed to state-run banks in India intermittently offering dollars, their Chinese counterparts were seen lapping up dollars instead, underscoring the divergent fortunes and outlooks for the currencies of the two Asian giants.</p>
<div class="lb-trans"><p>虽然交易员指出印度的国有银行间歇性地提供美元，但他们的中国同行则被看到在大量购买美元，这突显了这两个亚洲巨头货币的不同命运和前景。</p>
</div><p>The yuan  was hovering at the 7 per dollar mark, up about 4% on the year against the greenback and more than 9% against the rupee (CNYINR=R) so far in 2025.</p>
<div class="lb-trans"><p>人民币徘徊在每美元 7 元附近，今年以来对美元上涨约 4%，对卢比上涨超过 9%（CNYINR=R）。</p>
</div><p>While securing a trade agreement with the U.S. is &#34;critical&#34; for the rupee's performance, increased repatriation of earnings by Chinese exporters could raise the odds of yuan appreciation, analysts at ING said in a note.</p>
<div class="lb-trans"><p>ING 的分析师在一份报告中表示，尽管与美国达成贸易协议对卢比的表现至关重要，但中国出口商的收益回流增加可能提高人民币升值的可能性。</p>
</div><p>Thomson ReutersIndian equities, rupee have lagged their Chinese counterparts</p>
<div class="lb-trans"><p>汤森路透：印度股市和卢比落后于中国同行</p>
</div><p>Meanwhile, dollar-rupee forward premiums extended their slide from the previous session on Friday, with the one-year implied yield declining 8 bps to 2.75% and the 1-month forward premium edging lower to 39.50 paisa after surging earlier in the week.</p>
<div class="lb-trans"><p>与此同时，美元 - 卢比远期溢价在周五继续下滑，1 年期隐含收益率下降 8 个基点至 2.75%，1 个月远期溢价小幅下滑至 39.50 派萨，此前在本周早些时候曾大幅上涨。</p>
</div><p>Other Asian currencies were mostly range-bound as well, while the dollar index  wallowed near a two-month low and was on course for its worst annual drop since 2017.</p>
<div class="lb-trans"><p>其他亚洲货币也大多保持区间波动，而美元指数徘徊在两个月低点附近，正朝着自 2017 年以来最糟糕的年度跌幅前进。</p>
</div><p>Expectations of further interest rate cuts by the U.S. Federal Reserve, despite divergent outlooks from some of its peers, have weighed on the dollar. Investors are also waiting for President Donald Trump to nominate a Fed chair to replace Jerome Powell, whose term ends in May.</p>
<div class="lb-trans"><p>尽管一些同行的前景不同，但市场对美国联邦储备委员会进一步降息的预期对美元造成了压力。投资者还在等待特朗普总统提名新的美联储主席，以替代在 5 月任期结束的鲍威尔。</p>
</div><p>Elsewhere, markets in Australia, Hong Kong, and most of Europe are closed on Friday, with liquidity expected to be thin as traders turn their focus to 2026.</p>
<div class="lb-trans"><p>此外，澳大利亚、香港和大部分欧洲市场在周五休市，预计流动性将较低，因为交易员将注意力转向 2026 年。</p>
</div>

卢比走势不稳，国有银行间歇性地抑制美元买盘