August 16, 2024 New Delhi, India Rupee Analysis(USDINR) The Indian rupee held its ground at 83.94 against the US dollar in early trade on Friday, maintaining stability despite ongoing concerns over high crude oil prices and foreign capital outflows. The rupee’s performance was bolstered by positive sentiment in both domestic and global equity markets, as…
August 13, 2024 New Delhi, India Rupee Analysis(USDINR) The Indian Rupee (INR) continues to face pressure in Tuesday’s Asian trading session, despite the US Dollar (USD) maintaining a consolidative stance. The INR’s decline is driven by multiple factors, including weaker performance among Asian currencies, rising crude oil prices, and softer domestic inflation data. Market participants…
August 7, 2024 New Delhi, India USDINR The Indian Rupee (INR) weakened during Wednesday’s early European session, reflecting a stronger US Dollar (USD) and rising crude oil prices. Market participants are closely monitoring potential Reserve Bank of India (RBI) interventions and the upcoming RBI Monetary Policy Committee (MPC) meeting on Thursday. Key Factors Affecting the…
August 1, 2024 New Delhi, India Rupee Analysis The Indian Rupee (INR) showed signs of recovery during Thursday’s early Asian session, benefiting from the decline of the US Dollar (USD). This movement follows the US Federal Reserve’s decision to maintain its interest rates unchanged in the range of 5.25%-5.50% during its July meeting. The dovish…
July 31, 2024 New Delhi, India West Texas Intermediate (WTI) crude oil prices are trading around $76.5 per barrel, recovering from an eight-week low of $74.24 recorded on Tuesday. The rebound is primarily driven by escalating geopolitical tensions in the Middle East, which pose significant risks to oil supply. Key Highlights: Geopolitical Tensions: The Israeli…
July 30, 2024 New Delhi, India USDINR Analysis Indian Rupee: The Indian Rupee (INR) held steady during Tuesday’s early European session despite a modest recovery in the US Dollar (USD). The local currency remains under pressure due to month-end corporate demand for USD and significant foreign fund outflows from Indian equities. US Dollar: The modest…
July 26, 2024 New Delhi, India The Indian Rupee (INR) posted modest gains in Friday’s Asian session, recovering some lost ground against the US Dollar (USD). This rebound follows a weaker Greenback and potential Reserve Bank of India (RBI) interventions. Key Factors Impacting INR: US Dollar Demand: Month-end demand for the USD and foreign outflows…
July 24, 2024 New Delhi, India Rupee Analysis The Indian Rupee (INR) weakened during Wednesday’s early European session despite an improvement in India’s HSBC Manufacturing and Services PMI for July. The Rupee’s decline was driven by Finance Minister Nirmala Sitharaman’s announcement of increased capital gains tax, which exerted selling pressure on the INR. Stronger PMI…
July 23, 2024 New Delhi, India Rupee Analysis The Indian Rupee (INR) has shown signs of recovery in early Tuesday trading, bouncing back after reaching an all-time low in the previous session. This improvement comes on the heels of India’s Finance Minister Nirmala Sitharaman’s presentation of the Union Budget 2024-25, which has sparked optimism in…
July 15, 2024 New Delhi, India USDINR Analysis As the Indian Rupee (INR) weakened against the US Dollar (USD) in Monday’s Asian session, the latest economic data reveals significant trends impacting the currency pair. India’s Wholesale Price Index (WPI) inflation surged to 3.36% year-on-year in June, up from 2.61% in May, yet it fell short…
