Indian rupee opened weaker and hit near two week low against US dollar tracking losses in the local equity and Asian currencies markets.
The dollar index, which measures the greenback’s strength against major currencies, was trading at 100.84, down 0.05 percent from its previous close of 100.88.
US Fed rate decision on Wednesday where it is expected to hike Rates by 25bps
Benjamin Franklin’s paper money contains flecks of mica, also known as muscovite or isinglass. These shiny patches were most likely an attempt to combat counterfeiters, who would not have had access to this special paper
Capital account convertibility is neither a necessary nor a sufficient condition for the success of a country’s currency internationalisation process
Making India an easier place to do business, reversing the return in recent years of protectionist tariffs, allowing Indian tourists more freedom to use UPI overseas without having to bother about the taxman, and deepening domestic financial markets will all yield bigger gains than promoting the local currency abroad with bilateral agreements and photo-ops
The Indian rupee opened marginally higher against the US dollar tracking gains in local equities and Asian currencies markets.
Indian rupee opened higher against US dollar tracking gains in local equities and Asian currencies market.
Indian rupee closed higher tracking gains in the local equity markets and weak dollar
Indian rupee opened marginally higher against US dollar on July 17 tracking gains in the local equity markets.
Indian rupee erased all its morning gains and closed weaker on July 14 amid importers demand against US dollar, analysts said.
Indian rupee opened higher for fifth straight sessions against US dollar tracking gains in the local equities and Asian currencies markets.
Indian rupee closed higher against the US dollar tracking gains in Asian currencies
The Indian rupee closed higher for the third straight session against the US dollar, tracking gains in Asian currency markets.
Indian rupee on July 10 strengthened marginally against the dollar amid continued foreign investment in the local equities market.
In October 2021, the country’s forex reserve reached an all-time high of USD 645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments.
The rupee closed at a six-week low against the dollar on July 7, tracking losses in Asian currencies as the market adjusted its expectations for potential rate hikes by the Federal Reserve.
There are other important prerequisites for achieving internationalisation — the existence of deep and well-functioning domestic financial markets, a trusted legal framework for contract enforcement, low inflation, and stable and predictable macroeconomic policies
The rupee on July 6 ended one month low against the US dollar tracking weak Asian currencies after minutes of the latest FOMC meeting hinted at another rate hike this month.
The rupee tracked weak Asian currencies after minutes of the latest FOMC meeting hinted at another rate hike this month
Indian rupee weakened for the second session on July 5 as dollar demand from oil companies to pay for imports weighted the currency.
The greenback was down 0.18% at 1104 GMT to 144.44 yen, after rising 0.27% on Monday.
Indian rupee erased all its morning gains and closed marginally lower against the US dollar even as gains in the local equity and Asian currencies market.
Indian rupee strengthened in the opening trade against US dollar tracking gains in the local equity and Asian currencies market.
Indian rupee closed marginally higher against the US dollar on July 3 tracking gains in the local equities and Asian currencies market.