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…
On the heels of a rise in U.S. yields, which strengthened the dollar against its key competitors and Asian currencies, the Indian rupee is anticipated to fall on Monday. The rupee is forecast to open at about 82.92–82.94 to the dollar according to non-deliverable forwards, down from 82.8450 in the previous session. The rupee was…
After traders processed Friday’s jobs news, the U.S. dollar and Treasury yields rose. This week’s U.S. inflation data will now be the focus, and gold yesterday finished down -0.18% at 59420. According to reports, the U.S. economy added fewer jobs than anticipated in July, but strong pay growth and a drop in the unemployment rate…
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…
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…
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…
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…
