Category: rupee
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India asks banks to stop making large bets against rupee, sources say By Reuters
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Written by Jaspreet Kalra and Nimesh Vora MUMBAI (Reuters) – India’s central bank has asked government and private lenders to refrain from betting heavily against the rupee in a bid to support the currency that has been hovering near record lows over the past three trading sessions, four sources said.…
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India’s shrinking balance of payments surplus keeps rupee near record lows By Reuters
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Written by Nimesh Vora MUMBAI (Reuters) – India’s rupee held near an all-time low on Thursday despite intervention by the country’s central bank, with traders and analysts expecting continued pressure on the currency due to a shrinking balance of payments surplus. The rupee was at 83.9750 against the US dollar,…
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Rupee ends lower, logs worst single-day fall in nearly two months By Reuters
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Written by Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee fell on Wednesday, posting its worst day in nearly two months, as demand for dollars from importers and foreign banks erased almost all of the currency’s gains earlier in the week. The rupee closed at 83.9225 against the US dollar,…
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Rupee dips; forward premiums rise amid near certainty on Fed rate cuts By Reuters
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Written by Nimesh Vora MUMBAI (Reuters) – The Indian rupee fell slightly on Thursday as a rally in peer Asian currencies paused, while futures premiums rose after Federal Reserve minutes and downward revisions to U.S. payrolls pushed it close to two-week lows. The Indian rupee was at 83.9425 per US…
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RBI’s firm grip to keep rupee anchored in narrow range: Reuters poll By Reuters
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By Anant Chandak and Vivek Mishra BENGALURU (Reuters) – The outlook for the Indian rupee is little changed from last month as interventions by the Reserve Bank of India keep the currency, considered expensive compared to peers, in a narrow range, a Reuters poll of foreign exchange analysts showed. A…
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Indian Rupee Becomes Second Worst Asian Currency This Quarter
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Breadcrumbs Path Links PMN Business Before the trading day begins, we provide you with a summary of the major news and events that are likely to move the markets. Today we take a look at: Article author: Bloomberg News Ashutosh Joshi and Ronojoy Mazumdar Published on August 1, 2024 •…
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India cenbank may prefer mild rupee weakness to correct overvaluation, BofA says By Reuters
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MUMBAI (Reuters) – The Reserve Bank of India may allow the rupee to weaken slightly to ease a slightly elevated real effective exchange rate and keep the South Asian currency “competitive”, Bank of America Securities said in a note on Thursday. This “supports the government’s ambitions to attract large-scale manufacturing…
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Rupee to trade in narrowest range in about 30 years on RBI’s actions: Reuters poll By Reuters
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Written by Anant Chandak BENGALURU (Reuters) – The Indian rupee will trade in its narrowest range in nearly three decades next year as the Reserve Bank of India continues to maintain a tight grip on currency movements, a Reuters poll showed. While most emerging market currencies have underperformed against the…
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Rupee Revolution? India’s UPI Eyes International Expansion
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Let us forget the fading dream of a cashless society – a cashless society seems equally unlikely. But for India, the way tea, or any other good or service, is paid for is undergoing a digital revolution. The Unified Payments Interface (UPI), a mobile app-based system, has become the preferred…
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Asia FX weakens as dollar recoups some losses, Indian rupee tests record lows By Investing.com
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Investing.com — Most Asian currencies fell slightly on Wednesday as the dollar recovered from two-month lows, while the Indian rupee tested record lows after 2024 general election results showed the ruling Bharatiya Janata Party did not sweep as expected. Broader risk appetite improved somewhat, as weak US data fueled bets…
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Asia FX steady as dollar drops amid rate cut speculation; Indian rupee surges By Investing.com
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Investing.com — Asian currencies were mostly flat on Monday, reversing some recent losses against the dollar after embedded inflation data raised expectations for interest rate cuts and sparked sharp declines in the US currency. The Indian rupee was a standout performer among its peers, rising sharply after exit polls for…
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Goldman sees Indian Rupee as defensive in EM FX carry strategy By Investing.com
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Goldman Sachs has highlighted the Indian Rupee (INR) as one of the standout currencies in the Emerging Markets Forex (EM FX) pool, due to its high carry to volatility ratio. The firm noted that the attractiveness of the Indian rupee is further enhanced when combined with short trades in Euro…