<p>作者：賈斯普里特·卡爾拉</p>
<p>印度盧比在週五小幅波動，在假期交易中保持橫盤，交易員表示，這一交易特點是常規的企業美元需求以及國有銀行的間歇性參與。</p>
<p>截至印度標準時間上午 10:30，盧比對美元幾乎持平，報 89.8325。</p>
<p>雖然交易員指出印度的國有銀行間歇性地提供美元，但他們的中國同行則被看到在大量購買美元，這突顯了這兩個亞洲巨頭貨幣的不同命運和前景。</p>
<p>人民幣徘徊在每美元 7 元附近，今年以來對美元上漲約 4%，對盧比上漲超過 9%（CNYINR=R）。</p>
<p>ING 的分析師在一份報告中表示，儘管與美國達成貿易協議對盧比的表現至關重要，但中國出口商的收益回流增加可能提高人民幣升值的可能性。</p>
<p>湯森路透：印度股市和盧比落後於中國同行</p>
<p>與此同時，美元 - 盧比遠期溢價在週五繼續下滑，1 年期隱含收益率下降 8 個基點至 2.75%，1 個月遠期溢價小幅下滑至 39.50 派薩，此前在本週早些時候曾大幅上漲。</p>
<p>其他亞洲貨幣也大多保持區間波動，而美元指數徘徊在兩個月低點附近，正朝着自 2017 年以來最糟糕的年度跌幅前進。</p>
<p>儘管一些同行的前景不同，但市場對美國聯邦儲備委員會進一步降息的預期對美元造成了壓力。投資者還在等待特朗普總統提名新的美聯儲主席，以替代在 5 月任期結束的鮑威爾。</p>
<p>此外，澳大利亞、香港和大部分歐洲市場在週五休市，預計流動性將較低，因為交易員將注意力轉向 2026 年。</p>

<p>印度盧比在假期交易中幾乎持平，報 89.8325 兑美元，主要受到常規企業對美元的需求和間歇性國有銀行干預的影響。人民幣表現較強，2025 年兑美元上漲 4%，兑盧比上漲 9%。美元兑盧比的遠期溢價持續下滑。其他亞洲貨幣波動幅度有限，美元指數接近兩個月低點。澳大利亞、香港和大部分歐洲市場休市，預計流動性較低</p>

<p>By Jaspreet Kalra</p>
<div class="lb-trans"><p>作者：賈斯普里特·卡爾拉</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>印度盧比在週五小幅波動，在假期交易中保持橫盤，交易員表示，這一交易特點是常規的企業美元需求以及國有銀行的間歇性參與。</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>截至印度標準時間上午 10:30，盧比對美元幾乎持平，報 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>雖然交易員指出印度的國有銀行間歇性地提供美元，但他們的中國同行則被看到在大量購買美元，這突顯了這兩個亞洲巨頭貨幣的不同命運和前景。</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>人民幣徘徊在每美元 7 元附近，今年以來對美元上漲約 4%，對盧比上漲超過 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 的分析師在一份報告中表示，儘管與美國達成貿易協議對盧比的表現至關重要，但中國出口商的收益回流增加可能提高人民幣升值的可能性。</p>
</div><p>Thomson ReutersIndian equities, rupee have lagged their Chinese counterparts</p>
<div class="lb-trans"><p>湯森路透：印度股市和盧比落後於中國同行</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>與此同時，美元 - 盧比遠期溢價在週五繼續下滑，1 年期隱含收益率下降 8 個基點至 2.75%，1 個月遠期溢價小幅下滑至 39.50 派薩，此前在本週早些時候曾大幅上漲。</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>其他亞洲貨幣也大多保持區間波動，而美元指數徘徊在兩個月低點附近，正朝着自 2017 年以來最糟糕的年度跌幅前進。</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>儘管一些同行的前景不同，但市場對美國聯邦儲備委員會進一步降息的預期對美元造成了壓力。投資者還在等待特朗普總統提名新的美聯儲主席，以替代在 5 月任期結束的鮑威爾。</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，澳大利亞、香港和大部分歐洲市場在週五休市，預計流動性將較低，因為交易員將注意力轉向 2026 年。</p>
</div>

盧比走勢不穩，國有銀行間歇性地抑制美元買盤