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
NEW DELHI: On the back of corporate dollar outflows, the Indian rupee today plunged 1% to end at a month-low of 82.61 against the US dollar. The dollar index, which measures the strength of the greenback against a basket of six major currencies, hung on to most of the previous session’s gains to be the … Read more
The Indian rupee‘s fair value is around 80 against the U.S. dollar, given the country’s balance of payment challenges and the Reserve Bank of India‘s interventions, JPMorgan‘s head of emerging Asia local markets strategy said. India‘s balance of payments, a measure of how much the country relies on money from abroad, has been squeezed by … 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
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 continued its losing streak against the US dollar, weakening as much as 0.2 per cent on Friday as the greenback held firm ahead of the inflation data in the US, dealers said. Investors also squared off existing bets on the rupee on fear of overseas outflows from Indian equities amid signs … Read more