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.
Gold and silver prices saw profit booking in early hours of trade on Monday even as coronavirus cases in India mounted and a second wave of cases across the world worried the governments.
The Reserve Bank of India likely sold a net $1.8 billion in the two weeks ended April 10. That follows likely sales of $7.7 billion in the spot forex market last month, which made the authority a net seller for the first time in seven months.
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.
India’s foreign exchange reserves rose by $441 million during the week ended November 15, official data showed on Friday.