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November 19, 2024 New Delhi, India Currency Market Insights USDINR Trading Range: 84.4 – 84.56 The Rupee touched a record low due to continuous foreign fund withdrawals and increased dollar demand by investors. Despite this, RBI Governor Shaktikanta Das highlighted the resilience of the Indian economy amidst global challenges. Meanwhile, India’s wholesale prices rose to…
November 18, 2024 New Delhi, India Currency Market Insights: USDINR: Trading Range: 84.4 – 84.56 The Indian Rupee declined to a record low due to persistent foreign fund outflows and robust dollar demand. While RBI Governor Shaktikanta Das emphasized that India’s economy is “sailing smoothly” amid global challenges, concerns mounted as wholesale prices rose by…
November 14, 2024 New Delhi, India Stock Market Live India’s benchmark indices, Sensex and Nifty, faced a volatile trading session today, with significant losses by the close. Rising inflation concerns, coupled with fears of reduced chances for a rate cut by the Reserve Bank of India (RBI), weighed heavily on market sentiment. Key Market Highlights:…
November 14, 2024 New Delhi, India USDINR Analysis Rupee (INR) is trading near its all-time low on Thursday despite an uptick in Wholesale Price Index (WPI) inflation. According to official data, India’s WPI-based inflation rose to 2.36% year-on-year (YoY) in October, up from 1.84% in the previous month, surpassing the market consensus of 2.20%. Factors…
November 14, 2024 New Delhi, India Currency Market Overview: USDINR: Trading Range: 84.38 – 84.48 The Indian Rupee fell under pressure as the U.S. Dollar surged to a four-month high, supported by anticipated outflows from Indian equities. In October, India’s annual inflation rate spiked to 6.21%, up from 5.49% in September, intensifying economic concerns. Intervention…
November 13, 2024 New Delhi, India Stock Market Highlights Markets experienced a significant downturn on Wednesday, with the BSE Sensex and NSE Nifty50 indices closing sharply lower. A rise in October retail inflation dampened hopes for a rate cut by the Reserve Bank of India (RBI) next month, triggering a bearish sentiment among investors. Key Market Indices Performance Sensex: Closed…
November 12, 2024 New Delhi, India USDINR Today Rupee (INR) struggled to stabilize on Tuesday, hovering close to its all-time low of 84.38. The local currency faces ongoing pressure due to significant foreign fund outflows and increasing demand for the US Dollar (USD), particularly from oil companies and foreign banks. Key Factors Influencing INR: Foreign…
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…
November 11, 2024 New Delhi, India USDINR Analysis On Friday, the Indian Rupee (INR) lost momentum against the US Dollar (USD), driven by increased demand from importers related to month-end payments. Additionally, the unwinding of long positions in the currency market contributed to the INR’s softer stance. Despite this downturn, factors such as a decline…
October 30, 2024 New Delhi, India USDINR Rupee (INR) weakened on Wednesday, facing downward pressure due to rising US Treasury bond yields and foreign outflows from Indian stocks. These factors have contributed to a sell-off in INR, despite the Reserve Bank of India’s (RBI) regular intervention to curb depreciation. Oil Prices and Market Outlook Crude…
