Tag: rupee

GBP/USD and GBP/INR Expected to Weaken The British pound is expected to weaken against the US dollar and the Indian rupee in the near term. The GBP/USD pair is expected to slide towards 1.22 as long as it trades under 1.2350, while the GBP/INR pair is expected to move towards 101.40 as long as it trades below 102.50. This is based on technical analysis, which is a method of forecasting future price movements based on historical price patterns and trends.

JPMorgan is adding Indian government bonds to its list of emerging market bonds that it invests in. This is a good thing for India because it means that more foreign investors will be able to buy Indian government bonds. This could bring in billions of dollars of investment into India, which would help the Indian economy grow.

The Indian rupee appreciated against the US dollar on Friday, as the inclusion of India in the JPMorgan bond index boosted investor sentiment. The rupee settled 19 paise higher at 82.94 (provisional) against the previous close. Analysts expect India’s inclusion in the bond index will lead to a direct inflow of USD 20-25 billion in the debt over the 18-21 months. However, the impact of the announcement may not be sustainable amid a rally in the greenback and foreign fund outflows from domestic equities.

he rupee appreciated against the US dollar on Wednesday, supported by easing crude oil prices and likely dollar selling by the Reserve Bank of India (RBI). USDINR is expected to rise towards 83.30, as long as it holds above 82.80. The hawkish comments from the US Federal Reserve are likely to support the dollar. USDINR is expected to find support near 83.00 and move towards 83.40. A move above 83.40 would open the doors towards 83.60.

The Indian rupee depreciated to its lowest level on Friday, September 19, 2023, due to a combination of factors, including a stronger dollar, higher crude oil prices, and a widening trade deficit. The rupee is likely to face resistance near 83.30 in the near term, but growing optimism of a Fed pause in its next policy could restrict its upside.

The rupee traded in a narrow range against the US dollar in early trade on Friday, as the support from positive domestic equities was negated by elevated crude oil prices and strong American currency. The rupee is likely to trade with a slight negative bias on expectations that the US dollar may rise further. However, any intervention by the Reserve Bank of India and positive domestic markets may support the rupee at lower levels.

The rupee depreciated against the US dollar on Wednesday due to a stronger dollar and higher crude oil prices. The rupee is likely to remain in the 82.80-83.10 range in the near term.

The Indian rupee appreciated against the US dollar in early trade on Thursday, tracking positive domestic equities and a weak US currency. The rupee is expected to remain supported by positive domestic equities and the US dollar's weakness, but the appreciation will be capped by elevated crude oil prices. The Reserve Bank of India (RBI) is likely to remain in a wait-and-see mode and may not intervene in the market unless the rupee depreciates sharply.

The rupee rose slightly against the dollar on Tuesday, but its gains were limited by a stronger dollar and higher oil prices. The rupee is expected to trade in a narrow range on Tuesday as investors await key economic data from India and the US.

The Indian rupee appreciated 9 paise against the US dollar on Tuesday, amid fresh foreign fund inflows and expectations of better macroeconomic data. The rupee also benefited from the central bank's dollar selling ahead of the inflation data. Meanwhile, the dollar index rose, but the impact of this on the rupee was limited due to the supportive factors mentioned above. Brent crude futures advanced, which could put some upward pressure on the rupee in the coming days. On the domestic equity market front, the BSE Sensex closed higher, while the NSE Nifty declined marginally. FIIs were net buyers in the capital markets on Monday.