The Indian rupee on Tuesday saw its first gain in four sessions as a slightly weaker dollar and improving economic data supported the local currency.The rupee closed at 82.2050 against the U.S. dollar, up from 82.2950 in the previous session. The rupee had dropped to a six-week low of 82.3725 on Monday. The dollar, which … Read more
The Indian rupee will remain at its current level three months from now and gain only marginally by the end of February 2024, barely recouping any of its losses from last year, a Reuters poll of foreign exchange strategists found. The rupee has steadied after falling more than 10% in 2022, when it was one … Read more
The Reserve Bank of India likely sold dollars via state-run banks on Friday after the rupee slid below 82 to a record low against the dollar on concerns over the U.S. Federal Reserve rate outlook, traders told Reuters. The rupee was last trading at 82.2675, down from 81.88 in the previous session, but off the … Read more
The Indian rupee tested a series of record lows in recent weeks and Standard Chartered Plc. foresees more losses for the currency in the coming months. “The main two factors that are building up that can weaken the rupee are mainly on the worsening trade and capital flow dynamics,” Parul Mittal Sinha, head of India … Read more
The Indian rupee weakened past 79 per dollar, plumbing record lows in early trade, as investors retreated from Indian share markets on Friday with the greenback staying strong against major peers due to prospects for higher U.S. interest rates and fears of a widespread recession. By 0352 GMT, the partially convertible rupee was trading at … Read more
NEW DELHI: The rupee weakened past the psychologically significant 76 per US dollar level on Wednesday, shedding as much as 0.3 per cent in early trade as fear of foreign fund outflows intensified following the global strengthening of the US dollar, dealers said. With the greenback remaining firm at over-one-week high, traders rushed to square … Read more