October 30, 2024 New Delhi, India Currency Market Overview USDINR: Trading Range: 84.07 – 84.09 The Indian Rupee closed relatively unchanged, resisting downward pressure seen in other Asian currencies and local stock declines. The Manufacturing PMI for India saw improvement, rising to 57.4 in October from 56.5 in September, signaling a robust manufacturing sector. However,…
October 29, 2024 New Delhi, India Currency Market Today USDINR: Trading Range: 84.07 – 84.09 The Indian Rupee remained nearly flat despite pressures from weaker Asian markets and a local stock downturn. October’s Manufacturing PMI showed growth, rising to 57.4 from 56.5 in September, indicating manufacturing expansion. However, the chance of an RBI rate cut…
October 28, 2024 New Delhi, India USDINR Analysis Rupee (INR) traded flat on Monday, despite a stronger US Dollar (USD) and the effects of recent lower crude oil prices, which could bolster the INR given India’s high oil consumption levels. However, the Rupee’s gains appear constrained by sustained foreign outflows from Indian stocks and the…
October 28, 2024 New Delhi, India Currency Market Today USDINR: Trading Range: 84.04 – 84.12 The Indian Rupee stayed largely flat, showing resilience despite weaker Asian currencies and a decline in local stocks. India’s Manufacturing PMI rose to 57.4 in October 2024, up from 56.5 in September, signaling stronger growth in the manufacturing sector. Meanwhile,…
October 25, 2024 New Delhi, India USDINR Today The Indian Rupee (INR) holds steady against the US Dollar (USD) in the 84.00–84.10 range on Friday, supported by RBI interventions despite ongoing foreign outflows. Key Market Drivers: Foreign Outflows: Foreign Institutional Investors (FIIs) continued selling Indian equities for a 19th consecutive session due to China’s recent…
October 25, 2024 New Delhi, India Currency Market Analysis: USDINR: Trading Range: 84.06 – 84.12 The Indian Rupee remained flat against the dollar, showing resilience compared to other Asian currencies despite pressure from a strong dollar. The IMF has maintained India’s GDP growth forecast at 7% for FY25 while acknowledging the successful global inflation fight…
October 24, 2024 New Delhi, India USDINR Analysis On Thursday, the Indian Rupee (INR) steadied against the US Dollar (USD), with the USD/INR pair trading within the narrow range of 84.00-84.10. The Reserve Bank of India’s (RBI) market interventions played a crucial role in limiting downside risks for the INR, even as the country faced…
October 24, 2024 New Delhi, India Currency Market Analysis: USDINR: Trading Range: 84.05 – 84.13 The Indian Rupee slipped amid concerns over likely equity outflows, but sharp declines were limited by RBI intervention. A deputy of the Reserve Bank of India highlighted that climate change and technological risks could pose a threat to the country’s…
October 23, 2024 New Delhi, India Rupee Analysis The Indian Rupee (INR) remained stable against the US Dollar (USD) on Wednesday, despite continued pressure from foreign investor outflows. Traders noted that the Reserve Bank of India’s (RBI) possible interventions played a role in limiting the upward movement of the USD/INR pair. Foreign Outflows Weigh on…
October 23, 2024 New Delhi, India Currency Market Analysis USDINR: Trading Range: 84.05 – 84.13 The Indian Rupee slipped due to anticipated equity outflows, while RBI interventions helped limit sharp declines. Meanwhile, a deputy governor of the Reserve Bank of India warned that climate change and technology risks could pose a threat to India’s inflation…
