India’s rupee will not drop past the 84-per-dollar mark even if the greenback strengthens further from current levels as the nation’s central bank will step in to defend the currency, according to Standard Chartered Plc. “The Reserve Bank of India has been protecting rupee from depreciating very sharply,” Parul Mittal Sinha, head of India financial … Read more
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
Narrowing current account deficit will help the rupee strengthen against the dollar and appreciate to around 79 by the second half of the current fiscal, says a foreign brokerage report. The rupee is likely to strengthen towards 79 by end-FY24 from an average of 82 to the US dollar in FY23, Tanvee Gupta Jain, the … 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 Indian rupee declined against the U.S. currency on Monday, weighed by the dollar index’s jump and the Chinese yuan’s weakness. The rupee last traded at 81.84 to the dollar, down from 81.6850 on Friday. The local unit held a narrow 81.75 to 81.90 range during the session. It could be a “reasonably” quiet week … Read more
It seems for the fourth straight month, the greenback will end with a huge gain, all thanks to the US Federal Reserve Bank. In fact, except for May, in the entire 2022, the greenback has stayed buoyant. Nothing has changed in case of a trend. The US dollar skyrocketed to a new 24-year high against … 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 on Wednesday fell to an all-time low of 78.86 against the US dollar at the open. A few analysts said it is a matter of time till it touches the 79 mark. The partially convertible rupee was trading at 78.94/95 per dollar. The currency closed at 78.77 on Tuesday. “As equity … Read more
NEW DELHI – The rupee slumped to an all-time low against the US dollar on Monday as a higher-than-expected inflation reading in the world’s largest economy stoked speculation of aggressive rate hikes by the Federal Reserve, leading to global strength in the greenback. The partially convertible rupee weakened past the 78/$1 mark for the first … 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