Prior to Federal Reserve Chairman Jerome Powell’s address later that day in Jackson Hole, Wyoming, the rupee entered the day on August 25 slightly down against the dollar, reflecting declines in its Asian counterparts. The domestic currency was trading at 82.64 per dollar in the morning session, down 0.10 percent from its previous close of…
On Tuesday, when the US dollar declined from its high levels, the rupee bounced back from its record low levels and ended the day 19 paise higher at 82.94 (provisional).In line with a weakening US dollar, according to forex traders, the rupee strengthened. Foreign investors’ push to sell their investments amid risk aversion on international…
Amidst a strong dollar, an increase in US Treasury yields, and risk aversion in the global markets, the rupee declined sharply in the previous week, breaking through the significant resistance level of 83.00. The US economy was shown to be resilient by a deluge of strong economic data, which gave the dollar and yields a…
Early on Friday, as the US dollar fell from its high levels, the Indian rupee rebounded from record lows and strengthened by 7 paise to 83.02 against the greenback. However, a sluggish trend in domestic equities, outflows of foreign funds, and rising crude oil prices hurt the domestic unit, according to currency dealers. The local…
The Indian rupee rose and fell last week but ended unchanged. In the face of dollar inflows, it has outperformed Asian currencies. The RBI shocked the market by announcing a 10% ICRR to curb inflation and eliminate excess liquidity while maintaining the other rate with a “withdrawal of accommodative” policy. Similar to its Asian counterparts,…
In line with declines in Asian currencies and local markets, the Indian rupee dipped slightly versus the US dollar. The local currency was down 0.03 percent from its previous close of 82.72 in the morning session it was trading at 82.74 to the dollar. With the benchmark Sensex and Nifty falling 10 out of 15…
India’s efforts to encourage settlement of overseas trade in Indian rupees are paying off; the first users of the channel were nearby nations like Bangladesh and Sri Lanka. Anupriya Patel, a minister of state for commerce and industry, responded to a question in the Lok Sabha by stating that Sri Lanka has added the Indian…
Due to the rebound in the dollar index and a drop in Asian rivals, the Indian rupee is anticipated to open weaker on Tuesday. The rupee is expected to open Monday at approximately 82.85 to the dollar, down from 82.7425 on Monday, according to non-deliverable forwards. Following the release of the U.S. jobs report, the…
In the week ending July 28, foreign exchange reserves decreased by $3.2 billion to $603.9 billion, according to the most recent information from the Reserve Bank of India (RBI). After reaching their greatest level in more than a year during the week ending July 14, reserves have decreased for the second consecutive week. In an…
On the strength of positive macroeconomic developments and views that the U.S. Federal Reserve is reaching the end of its rate hike cycle, the rupee will maintain its current gains versus the dollar in the next months and will strengthen somewhat in a year, according to a Reuters poll. The Reserve Bank of India (RBI)…
