Mumbai: The Indian rupee weakened to a record closing low of 83.97 versus the US dollar on Monday, mirroring the secular decline in Asian currencies that fell on risk aversion ahead of the publication of US consumer price inflation data later this week. The rupee was also pressured by a rise in crude oil prices. … Read more
MUMBAI: The domestic currency outperformed other emerging market currencies this year, buoyed by lower crude oil prices, the practice of purchasing crude in rupees, and strong services exports that have helped maintain a manageable current account deficit. Additionally, the anticipation of significant foreign capital inflows, driven by the inclusion of Indian govt bonds in global … Read more
Mumbai: The rupee closed at its strongest level in four months on Friday, kicking off 2024 as an outperformer among Asia-Pacific currencies, as US dollar flows have poured in ahead of India’s inclusion in global bond indices, while an optimistic view on GDP growth burnishes the country’s appeal. So far in January, the rupee has … Read more
MUMBAI: The rupee edged 3 paise lower to close at 83.37 (provisional) against the US dollar on Friday, tracking higher demand for US dollars from importers and a weak tone among Asian currencies. Forex traders said a muted trend in domestic equities also weighed on the local unit. At the interbank foreign exchange market, the … Read more