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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 Oil Prices Oil prices fell sharply in Asian trade on Tuesday, extending recent losses due to growing concerns over a potential demand slowdown. Reports that Israel will refrain from attacking Iranian oil facilities further weighed on crude prices. Key Highlights: Price Drop: Brent futures fell 3.5% to $74.59 per…
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 11, 2024 New Delhi, India USDINR The Indian rupee slipped to an all-time low, breaching the 84/USD mark for the first time on Friday. Pressured by the recent spike in oil prices and the ongoing foreign institutional investor (FII) outflows from the equity markets, the rupee hit a low of ₹84.0525 before settling at…
October 11, 2024 New Delhi, India USDINR Today The Indian Rupee (INR) weakened on Friday due to a firmer US Dollar (USD), driven by stronger-than-expected US inflation data and hawkish comments from Federal Reserve (Fed) officials. The local currency faced further pressure from continued Indian foreign fund outflows and elevated crude oil prices. Key Factors…
October 9, 2024 New Delhi, India USDINR Today The Indian Rupee (INR) traded flat on Wednesday, following the RBI’s decision to keep the repo rate unchanged at 6.5% for the tenth consecutive meeting. Despite holding rates steady, the Monetary Policy Committee (MPC) shifted its stance from “withdrawal of accommodation” to a more neutral outlook. Key…
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…
October 7, 2024 New Delhi, India Currency Market Analysis USDINR Trading Range: 83.78 – 84.54 Closing Price: 84.12 The Rupee remained flat as surging crude oil prices due to the intensifying Middle East conflict offset the impact of foreign equity outflows. India’s Services PMI was revised lower to 57.7 in September from the preliminary estimate…
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…
October 4, 2024 New Delhi, India Currency Market Analysis USDINR Trading Range: 83.88 – 84.16 Closing Price: 84.02 The Rupee faced downward pressure as rising crude oil prices, driven by escalating geopolitical tensions in the Middle East, pushed the currency lower. This is particularly significant for India, a major oil importer. In addition, the Asian…
