Because the Reserve Bank of India (RBI) is expected to intervene, market participants anticipate a slight devaluation of the rupee, which will prevent the FX market from experiencing extreme volatility. By the end of December, the rupee should be trading around 84.50 to the US dollar. Tuesday saw it fall to a new low of…
Due to healthy demand and lifting curbs on non-basmati rice, India’s agri exports are expected to reach USD 50 billion in 2024-25. Export curbs on rice, wheat, and sugar impacted agri exports by about USD 6-7 billion. However, removing rice curbs is expected to boost exports, with rice exports expected to reach 17-18 million tonnes…
The rupee’s ongoing depreciation is mainly due to a strengthening dollar and selling by foreign investors. As the currency continued to decline, it reached a fresh closing low of 84.40 against the US dollar. The rupee settled at 84.40 after ranging from a high of 84.38 to a low of 84.41 during the day. According…
As the greenback remained strong, the rupee declined and ended Monday at a new record low. The pressure on the rupee is expected to persist until the markets gain clarification on the policies that the Trump administration will implement, as the dollar index remains close to its four-month high of 105.05 and US Treasury yields…
As the U.S. dollar surged due to the early results of the presidential election, the Indian rupee fell to its lowest level ever on Wednesday, forcing the central bank to step in. The rupee dropped almost 0.1% from Tuesday’s closing to 84.1950 versus the US dollar. However, other Asian currencies did far worse, falling 1%…
On October 11, worries over the recent spike in oil prices and the withdrawal of foreign capital from the country’s equities markets caused the Indian rupee to fall to a record low vs the US dollar. At the latest quote, the rupee was trading at 84.05. It had fallen as low as 84.0525 against the…
After ending at 83.91 on August 26 instead of 83.95 roughly a week earlier, the Indian rupee has somewhat appreciated over the previous trading days. Though importers’ dollar demand and foreign portfolio withdrawals from Indian equities (totaling USD 1.5 billion as of August 26) have restricted the rupee’s gains, the currency is seeing some support…
During the week ending August 16, the Indian rupee saw little change, finishing at 83.95 with little variation. There was modest support for the rupee due to the US recession fears abating, carry trade unwinding slowing down, and oil prices easing. Pressure was applied, though, in part because of a larger trade imbalance in July…
August saw a minor decline in the value of the Indian rupee of 0.3% versus the US dollar, with August 12 marking a new record low of 83.98. In comparison, during the same period, the majority of other Asian currencies have appreciated in value relative to the US dollar. Notably, thus far this month, the…
The Reserve Bank of India (RBI) reported that for the week ending May 17, forex reserves increased by $4.5 billion to an all-time high of $648.7 billion. The week ending May 17 saw an increase in the rupee of 17 paise, or 0.20%. The entire Forex kitty has increased for the past three weeks running….
