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August 27, 2024 New Delhi, India USDINR Analysis The Indian Rupee (INR) traded on a weaker note during Tuesday’s early European session. The local currency faced pressure from month-end demand for the US Dollar (USD) by local banks and corporations, as well as a surge in crude oil prices, which typically weigh on the INR….
August 22, 2024 New Delhi, India Currency Market Analysis USDINR The Rupee strengthened, aided by potential inflows and a decline in the dollar index, which also boosted other Asian currencies. However, the Reserve Bank of India’s foreign exchange reserves dropped by $4.8 billion, bringing the total to $670.12 billion. Additionally, India’s trade deficit widened to…
August 21, 2024 New Delhi, India Currency Market Analysis USDINR The Rupee ended stronger, driven by likely inflows and a sharp decline in the dollar index, which benefited Asian currencies across the board. The Reserve Bank of India’s foreign exchange reserves fell by $4.8 billion to $670.12 billion. Additionally, India’s trade deficit widened significantly to…
August 20, 2024 New Delhi, India Daily Market Analysis USDINR The Rupee remained within a narrow range as its Asian peers reversed early losses, supported by mild dollar sales from foreign banks. India’s economic growth exceeded expectations, as noted by the IMF’s Gita Gopinath, while dollar-rupee forward premiums fell with the 1-year implied yield down…
August 19, 2024 New Delhi, India Daily Market Analysis USDINR Rupee held steady in a tight range, bolstered by dollar sales from foreign banks and the reversal of losses in Asian peers. India’s stronger-than-expected economic growth, as highlighted by the IMF’s Gita Gopinath, added to the stability. Dollar-rupee forward premiums dropped, with the 1-year implied…
August 13, 2024 New Delhi, India Daily Market Analysis USDINR The USDINR trading range for the day was 83.89-84.05, with the rupee ending mostly unchanged due to corporate dollar demand balancing the rebound in regional currencies. The odds of a 50 basis point Federal Reserve rate cut in September have fallen to 53% from 100%,…
August 12, 2024 New Delhi, India In a significant shift, foreign investors withdrew a record $15 billion from China in the second quarter of 2024, reflecting growing concerns about the economic stability of the world’s second-largest economy. This unprecedented outflow highlights the mounting pessimism among international investors and has raised questions about the future of…
August 2, 2024 New Delhi, India Daily Market Analysis USDINR The rupee remained within the trading range of 83.73-83.85, pressured by outflows from local equities, volatility in the yuan, and persistent dollar bids. Despite this, the Federal Reserve signaled its first rate cut in September. Interventions from the Reserve Bank of India (RBI) ensured that…
August 1, 2024 New Delhi, India Daily Market Analysis USDINR The rupee was little changed within the trading range of 83.77-83.83, supported by mild dollar sales from state-run banks. The rise in forward premiums comes after the 1-year yield lingered in a 15 basis points (bps) range in the April-June period. Meanwhile, India’s forex reserves…
July 29, 2024 New Delhi, India Daily Market Analysis USDINR The rupee ended flat as a rally in the Chinese yuan and likely intervention from the Reserve Bank of India (RBI) balanced the market. The USDINR trading range for the day was 83.7-83.88. The US economy expanded by an annualized 2.8% in Q2, surpassing market…
