The Indian rupee strengthened marginally to 87.53 a dollar Friday on likely intervention from the Reserve Bank of India (RBI), capping off a rough and tumultuous week punctuated with unexpectedly punitive tariffs on US-bound shipments from the country. Traders said sustained portfolio outflows and a significantly higher baseline tariff than anticipated earlier led to substantial … Read more
Bullish bets on the Chinese yuan hit their highest since early June as the world’s second-largest economy maintained a strong trade surplus and saw robust portfolio inflows even as growth slowed, a Reuters poll showed on Thursday. Short positions on the Indian rupee were raised to their highest since April 2020, while bearish bets on … Read more
NEW DELHI: The Reserve Bank of India, it seems, just cannot catch a break. Just when the consumer price index-based inflation was showing signs of easing, one of India’s traditional bugbears has resurfaced: a spike in crude oil price. Global oil prices surged to a multi-year high on Monday after the Organization of the Petroleum … Read more
MUMBAI: The Indian rupee‘s near-term fortunes may directly be influenced by the Reserve Bank of India‘s intent on preventing any further depreciation in the currency as the surge in COVID-19 cases hits jobs and growth, economists and traders said. The rupee has already lost 2.6% against the dollar so far this month, putting it on … Read more