The Indian rupee strengthened against the U.S. dollar at opening of trade on Monday. The domestic currency appreciated 15 paise to 79.12 against the greenback at open. It then strengthened to 79.10, according to Bloomberg data.
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Indian Rupee Opens Little Changed At 79.73 Against The U.S. Dollar
The Indian rupee opened little changed against the U.S. dollar on Tuesday.
The domestic currency opened at 79.73 against the greenback, but soon lost 0.02% to trade at 79.75.
Rupee Down 15 Paise To All-Time Low Of 79.60 Against US Dollar
The rupee declined 15 paise to close at a new lifetime low of 79.60 (provisional) against the US dollar on Tuesday as a strong greenback overseas and weakness in domestic equities continued to weigh on investor sentiments.
RBI Takes Steps To Liberalise Forex Flows Amid Weakening Rupee
The RBI (Reserve Bank of India) has announced measures to boost forex inflows, amid a weakening rupee. The steps range from liberalising limits and interest rate caps for external borrowings to encouraging debt flows and foreign currency deposits.
Current USD cycle has likely peaked
“The current USD cycle has likely peaked. The US Federal Reserve may be on track to deliver further rate hikes, but markets are now reassessing how high the fed funds rate will go, considering the sharp tightening in financial conditions.”
Rupee to Appreciate on Weak Dollar
The Indian rupee snapped its four-day losing streak to close 29 paise higher against the US dollar on Tuesday, tracking a recovery in domestic equities and weakness in American currency overseas.
INR-USD Likely to Regain Ground to Test 75-75.30 Levels in Near-Term
INR-USD Forecast: The local equities are trading on a negative foot over the last few days, following a weakness over wall street and other Asian markets. The pressure mounts over stocks as FIIs are heavily withdrawing their investment flows.