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October 4, 2024 New Delhi, India USDINR Price The Indian Rupee (INR) managed to recover some lost ground on Friday, despite headwinds such as rising crude oil prices, foreign portfolio investor (FPI) outflows, and a weaker regional currency trend. The local currency showed resilience even as the HSBC India Services PMI data for September revealed…
September 23, 2024 New Delhi, India HSBC Flash PMI Report India’s business activity slowed in September, with both output and new orders growing at their slowest pace in nine months, according to the HSBC Flash PMI survey compiled by S&P Global. The survey, which includes responses from 400 manufacturers and 400 service providers, indicated a…
September 4, 2024 New Delhi, India USDINR Today The Indian Rupee (INR) traded on a softer note during Wednesday’s early European session, even as the HSBC India Services Purchasing Managers Index (PMI) showed stronger-than-expected growth in August. The INR faced pressure from a firmer US Dollar (USD) and cautious market sentiment. Key Highlights: HSBC India…
September 2, 2024 New Delhi, India USDINR Today The Indian Rupee (INR) lost ground on Monday, snapping a two-day winning streak during the early European session. The currency’s decline was driven by stronger USD demand, as the INR became the second-worst-performing Asian currency in August, primarily due to state-run banks’ robust USD buying. Key Market…
August 22, 2024 New Delhi, India USDINR Analysis The Indian Rupee (INR) has experienced continued pressure against the US Dollar (USD), falling by 0.2% in August, marking it as the worst-performing Asian currency this month. As mixed PMI data from India offers little support, market participants turn their attention to the upcoming RBI Monetary Policy…
August 21, 2024 New Delhi, India USDINR Analysis The Indian Rupee (INR) edged lower during Wednesday’s Asian trading session, reflecting ongoing challenges in the currency market. Persistent demand for the US dollar (USD) from importers and concerns over trade deficits have contributed to the Rupee’s decline, making it the worst-performing Asian currency in August. However,…
August 2, 2024 New Delhi, India Manufacturing PMI India’s manufacturing sector experienced a slight dip in activity in July, as indicated by the latest HSBC final India Manufacturing Purchasing Managers Index (PMI). Despite the marginal slowdown, the sector continues to show robust performance with strong international sales and high employment levels. Manufacturing PMI Overview: July…
July 24, 2024 New Delhi, India Rupee Analysis The Indian Rupee (INR) weakened during Wednesday’s early European session despite an improvement in India’s HSBC Manufacturing and Services PMI for July. The Rupee’s decline was driven by Finance Minister Nirmala Sitharaman’s announcement of increased capital gains tax, which exerted selling pressure on the INR. Stronger PMI…
May 2, 2023 New Delhi, India USD/INR Today The USD/INR pair dipped after India’s HSBC Manufacturing PMI for April slightly missed expectations, while the US Federal Reserve’s dovish stance added pressure on the Greenback. Indian Rupee Remains Strong Amid Softer Dollar On Thursday, the Indian Rupee (INR) continued to exhibit strength against the US Dollar…
January 23, 2023 New Delhi, India Indian Rupee Softens Despite Global Economic Landscape Indian Rupee (INR) faced softening trends against the US Dollar (USD) despite a slight dip in the US Dollar Index. The Reserve Bank of India (RBI) remains cautious, emphasizing that a key policy rate cut would be premature until a sustained 4%…
