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Indian Rupee

All articles tagged with #indian rupee

finance1 year ago

Asian Currencies Poised to Benefit as Stocks Hit 7-Week Highs

The U.S. Federal Reserve is expected to cut interest rates, benefiting some Asian currencies like the Chinese yuan, Indian rupee, and Korean won. The yuan is expected to stabilize due to fiscal stimulus and credit growth in China, while the rupee could benefit from carry trades and a slower pace of monetary policy loosening by the Reserve Bank of India. South Korea's won is also expected to benefit from the Fed's easing cycle and improved economic prospects.

via CNBC|
#asian-currencies#chinese-yuan#federal-reserve
finance2 years ago

Indian Rupee Continues to Plummet, Analysts Predict New Low within a Year

According to a Reuters poll, over a third of analysts expect the Indian rupee to reach a new low within a year, despite the Reserve Bank of India's efforts to cut volatility. The rupee recently fell to a 10-month low due to expectations of strong U.S. yields. The RBI's interventions have limited the depreciation, but the rupee is still expected to remain weak. Median forecasts show a modest gain in the rupee in the short term, but less than 1% gain in six months and around 1.5% gain in a year. Rising global food prices and the need to keep the currency strong are reasons for the RBI's intervention. Inflation in India is expected to remain above the RBI's target range, but the central bank has relied on market intervention rather than policy action.

via Reuters|
#finance#foreign-currency-reserves#indian-rupee
economics2 years ago

BRICS Discusses Common Currency, but De-dollarization Remains Distant, Says Indian Minister

Indian Oil and Gas Minister Hardeep Singh Puri expressed his personal desire to transact everything in Indian rupees, but acknowledged that de-dollarization, or moving away from the U.S. dollar for trade settlements, is still a distant goal. While some oil trades have been settled in currencies like the Chinese yuan or Indian rupee, Puri believes that the U.S. dollar will remain the dominant currency for international oil transactions. He noted that the Indian rupee's prominence in the global market is a long journey, given the size of India's economy and its external sector. The BRICS summit discussed the possibility of a common currency, but Puri emphasized that existing trading and payment arrangements have been in place for a long time.

via CNBC|
#brics#de-dollarization#economics
finance2 years ago

Indian Rupee Hits Record Low Against US Dollar, RBI Intervenes

The Indian rupee has dropped below 83 to the US dollar for the first time since October 2022, prompting the Reserve Bank of India (RBI) to intervene. The rupee's decline is attributed to the rise in US yields, and the RBI's intervention is aimed at stabilizing the currency. Other Asian currencies, including the Korean won, Malaysian ringgit, and Indonesian rupiah, have also weakened against the US dollar.

via Reuters|
#exchange-rate#finance#indian-rupee