USD/INR : We expect Indian Rupee (INR) to slip to a record low of 80 by Q3. “The rising number of COVID-19 cases in India could lead to another extension in the lockdown beyond 3 May, which will pose downside risks to our GDP growth forecast of 1.6% for FY21.”
Currencies
Currencies are types of money used by countries for buying and selling goods and services. Each nation has its own currency, like dollars or euros, which helps people trade easily. They can be coins, notes, or digital money, and their value changes based on global markets.
Indian Rupee Outperforms Peers Through Covid-19 Sell-Off
The Indian Rupee outperformance is despite large outflows from the local debt and equitymarkets.
Safe-Haven Currencies in Demand Amid U.S., Iran Tension
The yen and other safe-haven currencies were in demand on Monday, along with assets such as gold, as investors fretted that the killing of Iran’s most prominent military commander by the United States could trigger a broader Middle East conflict.
Currencies May See Wild Swings if Slow Growth Breaks CLO Market
The IMF, central banks and politicians have warned about the proliferation of collateralized loan obligations (CLOs) and the threat they pose to the global financial system. Currency markets may be battered by breakneck volatility if a slowdown in global economic growth triggers a collapse in this fragile market.
India’s foreign Exchange Reserves Rose by $441 Million During The Week Ended
India’s foreign exchange reserves rose by $441 million during the week ended November 15, official data showed on Friday.
Indian Rupee opens Flat as Traders Await GDP Data
The Indian rupee on Monday was trading little changed against the US dollar as traders await gross domestic product (GDP) data and developments in US-China trade talks.
Indian Rupee Up 0.22% to 71.63 Against Dollar
Indian rupee strengthened for the third consecutive session against the US dollar on Monday, amid mixed cues from other Asian currencies due to uncertainty over US-China trade deal.
Rupee Suffers Big Fall Against US Dollar Today
The Indian rupee (INR) today fell sharply against the US dollar (USD) today to go past 72-a-dollar mark again. Weak GDP data and a broad strengthening of the US dollar weighed on the Indian rupee. Further, a sharp fall in the domestic stock market indices Sensex and Nifty also put pressure on the rupee.
USD/CNY consolidates around 6.9050 Mark, People’s Bank of China sets Yuan mid-point at 6.8822
We prefer to take short position on USD/CNY only below 6.8976, stop loss 6.92 and target of 6.8525.
It made intraday high at 6.9087 and low at 6.8976 levels.
USD/INR Trades in Range, Further Trend Sideways – Gold Silver Reports
USD/INR Trades in Range
Intraday bias remains slightly bullish for the moment.
It made intraday high at 69.79 and low at 69.66 marks.