Anticipated to remain flat; rupee

The rupee recovered after a slow start, reaching an intraweek high of 81.08 on Friday before ending the week at 81.1250 against the dollar. The local currency rose to 80.88 on Monday before reversing drastically lower. It posted a daily loss of 0.32% and closed at 81.72 on Tuesday.Positive foreign flows were mostly responsible for…

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Sharp strengthening of the rupee is unlikely in the immediate future, and CPI inflation in the US and India is being monitored.

The rupee fluctuated between 82.90 and 82.45 during this week of consolidation. After a lacklustre December month, last week was tumultuous as we witnessed a fall and recovery in the spot USDINR. Since other EM currencies began to gain strength versus the dollar, now is the ideal opportunity to go short in the pair as…

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Rupee opens higher and could increase due to a weaker dollar and a rise in global financial markets.

Tuesday’s opening rate for the Indian rupee was slightly lower than the previous day’s close of 82.65 to the dollar. Due to a rise in risk appetite on international markets and the depreciation of the dollar, the local currency is anticipated to increase in value. Market confidence increased on expectations of more gradual Fed rate…

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Rupee is projected to weaken in the near future and could break through the 85 level in 2023; USDINR will trade in this range.

On Thursday, the Indian Rupee is most likely to weaken due to an increase in the price of crude oil. After data revealed a larger-than-anticipated drop in US crude stockpiles, oil prices surged. A significant decline in the local currency may be avoided, though, due to the dollar’s weakness and the upbeat outlook for the…

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