Indian currency appreciated 20 paise to 82.60 at the open against the greenback on Wednesday. It closed at 82.80 on Tuesday.
Currencies
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Rupee likely to Appreciate on Weak Dollar
“Rupee extended its gains in yesterday’s session after Fed Chairman signaled a likely slowdown in the pace of tightening in December, while indicating that more hikes will be necessary to curb inflation.
Currencies Report: Central Banks Are Noisy Ahead of US Inflation Data
US Inflation Data: The American Dollar finished Wednesday little changed, despite some noise coming from major central banks. Investors await US inflation data, which could provide fresh clues on where the US Federal Reserve is heading next
Rupee Hits Lifetime Low, May Slip to 81 on Strong Dollar
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Indian Rupee Hits Record Low As Dollar Index Surges
The Indian rupee hit its lowest level against a strengthening U.S. dollar after Jerome Powell’s hawkish remarks at Jackson Hole.
Dow Jones and S&P 500 Cratered on Powell Comments
US stocks sank on Friday after Federal Reserve Chair Jerome Powell delivered remarks from the Jackson Hole Economic Symposium. The Fed chief didn’t throw the markets any huge surprises, although you wouldn’t know that from the market reaction. The benchmark S&P 500, Nasdaq-100, and Dow Jones Industrial Average traded fell 3.37%, 4.10%, and 3.03%, respectively.
Currencies Forecast: US Fed may not yield to market pressure
India’s forex reserves slumped to the lowest in over two years, marking the third straight week of decline as the Reserve Bank of India, true to its word, intervened to keep the rupee from weakening past 80 per dollar during a week when the dollar surged to over two-decade highs.