Amidst weaker-than-expected economic statistics from India, the rupee fell last week to a new record low and reached 82.85. While factory output fell for the first time in 18 months, higher food costs caused retail inflation to reach a five-month high of 7.4%. The U.S. core consumer price index jumped 6.6% from a year ago,…
USDINR opened with a gap up at Rs.82.20 in the previous session after closing at Rs.81.90 on Thursday, and the market saw primarily dollar purchasing by corporates and banks as rupee pressure persisted on Friday. With other Asian currencies plunging – CNH from 7.02 to 7.12 and KRW from almost 1400 to 1412 – with…
The Indian rupee is anticipated to continue volatile in the face of a strong dollar, market risk aversion, and cautious emotions ahead of the result of the RBI Monetary Policy Committee meeting. The rupee closed slightly higher versus the US dollar the previous day, following a bumpy session in which the Reserve Bank of India…
The Indian rupee is projected to fall further as the dollar strengthens and markets become more risk-averse. The USDINR pair is likely to rise to 83 in the next sessions. The rupee fell to a new record low of 81.94 against the US dollar in the previous session, as US bond yields rose. So far…
The Indian rupee fell to a new record low on Monday, owing to risk aversion in equity markets and a strong U.S. dollar. Investors are apprehensive ahead of the RBI MPC meeting later this week. The native currency began at 81.52 per dollar, down from Friday’s finish of 80.99. Analysts predict that the rupee would…
The Reserve Bank of India’s (RBI) mission will be made more difficult by the falling rupee, which is the result of high wholesale prices and retail inflation. This could lead the MPC, which meets next week, to consider another aggressive rate hike of at least 50 basis points. At the same time, fears of elevated…
The Indian rupee is expected to remain sideways on Friday amid falling crude prices, risk aversion in global equity markets, and a strong dollar. The USDINR pair is having resistance at 79.90 and 80.15, while the support has shifted to 79.40 from 79.05, according to analysts. In the previous session, the rupee declined due to…
Indian rupee appreciated 28 paise to 79.25 against the U.S. dollar in opening trade on Tuesday, tracking the dollar’s decline versus its major peers and foreign fund inflows. At the interbank foreign exchange, the local unit struck 79.25 in initial deals after starting at 79.30 against the dollar, gaining 28 paise from its previous close….
