The Indian rupee has turned into Asia’s worst-performing currency from being the best in the previous quarter. It’s poised for more losses as a resurgence in coronavirus cases to a record threatens to hamstring the economy.
The Indian rupee appreciated against the U.S. dollar, supported by strong local equities and the dollar index retreating from over three-month highs.
Indian Rupee And Bond Update : The rupee appreciated against the U.S. dollar supported by persistent greenback sales by foreign banks and weaker dollar.
The Indian rupee ended flat against the U.S. dollar, as possible intervention from the Reserve Bank of India offset the impact of foreign flows in local equities.
Rupee And Bond Update : The Indian rupee ended flat against the U.S. currency on Thursday ahead of the Monetary Policy Committee decision.
In a year where sellers dominated the currency, it’s become increasingly difficult to expect anything different to happen. For Q1 of 2021, I’m looking for a continuation in the bearish backdrop that’s become so incredibly loud around the US Dollar.