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)…
Along with the decline in Asian currencies, the rupee slightly declined versus the dollar. In the morning session, the local currency was trading at 82.03 per dollar, down 0.11 percent from its previous close of 81.94. The dollar index, which gauges how well the US dollar performs versus a basket of other currencies, was down…
The lowest commodity prices since March 3, improved economic indicators, foreign money inflows, and the Indian rupee all contributed to its best week since that date. The local rupee was helped by the broad-based decline in the value of the dollar following the Fed’s rate-pause announcement. According to the official data, there have been over…
On June 15, the Indian Rupee was modestly worse versus the US Dollar, reflecting declines in Asian rivals. The rupee was trading at 82.18, down 0.1 percent from its previous close, after starting the day at 82.17. Yesterday, the Federal Reserve temporarily suspended its record-breaking run of interest rate increases, giving the economy more time…
In a light trading session on June 12, the Indian rupee ended with little change against the US dollar as investors awaited important CPI data and US Fed policy. The local currency increased 0.04 percent from its previous close of 82.47 to close at 82.43 for every dollar. The starting price of the currency was…
With a strong loss of nearly 1.00% in May, the Indian Rupee underwent severe weakening and came under pressure. It’s interesting that this reduction took place despite the mind-blowing $5 billion in inflows. This begs the question of whether the INR could be impacted by the present downturn in Asian currencies. Let’s look at the…
Before today’s scheduled bimonthly policy review of the Reserve Bank of India, the rupee opened slightly weaker against the US dollar. At the start, the dollar was trading at 82.59. The domestic currency increased 0.04 percent to 82.58 per dollar in the morning session from its previous close of 82.55 per dollar. The euro opened…
The majority of Asian currencies fell versus the US dollar in May due to tighter supply and haven bidding, which was a bad month for their value. Although the US government was able to suspend the debt ceiling before the anticipated June 5 X date, June got off to a somewhat better start. A fiscal…
In response to encouraging macroeconomic statistics, the rupee rose by 33 paise to settle at 82.42 (provisional) against the US dollar on Thursday. Against the US dollar, the local unit traded in the interbank foreign exchange market with an opening price of 82.54 and ended the day at 82.42 (provisional), up 33 paise from the…
Due to a strong dollar and gloomy global market attitude, the rupee was trapped between 82.90 and 82.60 levels the previous week. The dollar strengthened as tensions over the debt ceiling negotiations increased and Fitch placed the nation’s credit rating under review for potential downgrading. Better-than-expected economic statistics from the US boosted the speculations that…
