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)…
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…
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…
In spite of a sluggish trend in domestic stocks, the rupee steadied in a small range on Tuesday to conclude the day barely 1 paisa higher at 82.62 (provisional). In anticipation of the RBI’s monetary policy announcement later this week, market participants are alert and the rupee is trading in a limited range. There is…
On Friday, the rupee strengthened versus the US dollar by 14 paise to 82.58 (provisional), helped by foreign capital inflows and an uptick in domestic markets. However, the strong US dollar relative to important foreign currencies restrained the home currency’s upward trend, according to FX traders. Since US President Joe Biden and Republican House Speaker…
