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November 12, 2024 New Delhi, India Overview: USDINR: Trading Range: 84.38 – 84.46 The Indian Rupee weakened to a record low due to continued stock outflows and strengthening dollar expectations. State-run banks were observed selling dollars, likely on behalf of the RBI, to help curb further declines in the currency. Additionally, dollar-rupee forward premiums have…
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 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 11, 2024 New Delhi, India Daily Currency Market Analysis USDINR Trading Range: 83.96 – 84.08 Closing Price: 84.02 The Indian Rupee remained steady at 84 levels as the Reserve Bank of India (RBI) signaled a dovish stance by holding its benchmark policy rate at 6.5% in its October meeting, aligning with market expectations. This…
October 10, 2024 New Delhi, India Daily Market Analysis USDINR Trading Range: 83.96 – 84.08 Closing Price: 84.02 The Indian Rupee remained stable around the 84 mark, supported by dovish signals from the Reserve Bank of India (RBI) and rising foreign currency outflows. The RBI kept its benchmark policy rate unchanged at 6.5% during its…
October 7, 2024 New Delhi, India USDINR Today The Indian Rupee (INR) showed some recovery on Monday after recent losses. However, a stronger US Dollar (USD), heightened foreign fund outflows, and rising crude oil prices continue to weigh on the currency. Traders are closely monitoring Fedspeak scheduled for later in the day for fresh market…
