October 22, 2024 New Delhi, India USDINR The Indian Rupee (INR) remained stable against the US Dollar (USD) on Tuesday, supported by the potential for intervention from the Reserve Bank of India (RBI). This stability comes despite ongoing foreign outflows from Indian equities and global economic pressures, such as the dollar’s strength and rising US…
October 22, 2024 New Delhi, India Currency Market Today USDINR: Trading Range: 84.05 – 84.11 The Indian Rupee weakened due to equity outflows, but significant dollar sales managed to prevent a steeper decline. Market participants are pricing in 44 basis points of rate cuts across the Federal Reserve’s remaining two meetings in 2024. Additionally, India’s…
October 21, 2024 New Delhi, India Currency Market Analysis USDINR Trading Range: 84.05 – 84.11 Closing Price: 84.08 The Indian Rupee fell as outflows from the equity market created downward pressure, though the fall was limited due to sustained dollar sales. Investors are currently pricing in 44 basis points worth of rate cuts by the…
October 18, 2024 New Delhi, India USDINR Today The Indian Rupee (INR) recovered on Friday, benefiting from a modest decline in the US Dollar (USD). However, the INR’s gains may be limited due to several challenges, including substantial foreign fund outflows, a negative trend in domestic equities, and a recent surge in crude oil prices….
October 17, 2024 New Delhi, India USDINR Analysis On Thursday, the Indian Rupee (INR) traded with mild losses against a stronger US Dollar (USD). The pressure on the INR is largely driven by significant outflows from Indian equities and heightened USD demand from foreign banks and importers. Key Factors Impacting the INR: Foreign Fund Outflows:…
October 17, 2024 New Delhi, India Currency Market Analysis USDINR Trading Range: 84.03 – 84.15 Closing Price: 84.09 The Indian Rupee ended little changed as the sharp drop in crude oil prices helped offset the negative impact of weakness in other Asian currencies. Foreign investors pulled out nearly $8 billion from local stocks, reversing inflows of about $11.1 billion in September. On the…
October 16, 2024 New Delhi, India Currency Market Analysis USDINR Trading Range: 84.03 – 84.15 Closing Price: 84.09 The Indian Rupee ended little changed as the sharp drop in crude oil prices helped offset the negative impact of weakness in other Asian currencies. Foreign investors pulled out nearly $8 billion from local stocks, reversing inflows…
October 15, 2024 New Delhi, India USDINR The Indian Rupee (INR) edged lower against the US Dollar (USD) on Tuesday, influenced by global risk aversion. However, potential foreign fund inflows and falling oil prices may lend support to the INR, as traders eye gains in Asian markets and Wall Street’s record close. Key Factors Influencing…
October 15, 2024 New Delhi, India Currency Market Analysis USDINR Trading Range: 84.09 – 84.15 Closing Price: 84.12 The Indian Rupee slipped as it was dragged down by a fall in most Asian currencies and strong dollar demand from foreign banks. India’s wholesale prices increased by 1.84% year-on-year in September 2024, adding to the currency’s…
October 14, 2024 New Delhi, India USDINR Today The Indian rupee depreciated to a lifetime low of 84.0725 against the US dollar on Monday, slightly surpassing its previous low of 84.07 set on Friday. The rupee’s weakness follows broader depreciation across Asian currencies and is exacerbated by elevated crude oil prices and a strong US…
