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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…
October 3, 2024 New Delhi, India USDINR Today The Indian Rupee (INR) saw a decline in value on Thursday, pressured by the growing demand for the US Dollar (USD) as geopolitical tensions in the Middle East heightened safe-haven flows. The risk-off sentiment, combined with rising crude oil prices, has increased selling pressure on the INR,…
September 27, 2024 New Delhi, India USDINR Today The Indian Rupee (INR) lost momentum on Friday, September 29, 2024, amid renewed demand for the US Dollar (USD) from importers, driven by month-end payments and the likely unwinding of long positions. Despite the dip, a fall in crude oil prices and a strong trend in Indian…
September 26, 2024 New Delhi, India Stock Market Highlights Indian markets closed at record highs on Thursday, September 26, 2024, as Nifty 50 surged past 26,200 and Sensex rose by 666 points, led by gains in auto and metal stocks. The benchmark indices ended the day in positive territory, with both large-cap and mid-cap stocks…
September 26, 2024 New Delhi, India Gold Price (XAUUSD) Today The Gold price (XAUUSD) struggled to gain clear intraday direction on Thursday, oscillating below the all-time high touched the previous day. Traders remained cautious as they awaited more clues on the US Federal Reserve’s future rate-cut path. Despite expectations for another 50 basis points rate…
September 25, 2024 New Delhi, India USDINR Analysis Today The Indian Rupee (INR) strengthened on Wednesday amid improved global risk sentiment following China’s stimulus measures and a softer US Dollar (USD). Despite this support, rising crude oil prices and outflows due to the FTSE index rejig could weigh on the local currency. Key Economic Data…
September 19, 2024 New Delhi, India USDINR Today Rupee (INR) gained momentum on Thursday, benefiting from a softer US Dollar (USD) following a significant interest rate cut by the US Federal Reserve. The Fed reduced the federal funds rate by 50 basis points to a range of 4.75% to 5.00%, marking its first rate cut…
