Tag: rupee

The Indian rupee depreciated against the US dollar on Tuesday, tracking gains in the greenback. The rupee closed at 83.09 per dollar, down 0.12% from its previous close. The dollar index, which measures the value of the dollar against a basket of six major currencies, rose 0.1% to 92.32. The rupee was weighed down by the rising crude oil prices and the upcoming inflation data. The Reserve Bank of India (RBI) is scheduled to release the inflation data for August on Wednesday. The inflation is expected to remain above the RBI's higher limit of 6%.

The rupee closed almost flat against the US dollar, weighed by elevated crude oil prices and global inflation worries. The currency could benefit from a weak US dollar and positive domestic equities, but it is likely to remain under pressure from these factors. Here are the key takeaways: Rupee closed almost flat against US dollar. Rupee could benefit from weak US dollar. Rupee likely to remain under pressure from elevated crude oil prices and global inflation worries.

The Indian rupee is expected to appreciate towards 82.80, as long as it trades below 83.20. The rupee gained on Friday amid likely support from the RBI, but higher crude oil prices and strength in the dollar index restricted it to appreciate below 82.90. Investors will be eyeing this week's key inflation numbers, which may provide more clues for the future interest rate path.

Russia and India are discussing ways to invest surplus rupees that Russia has accumulated in Indian banks. The two countries are considering investments in infrastructure projects, Indian companies, or government bonds. They are also discussing the possibility of setting up a rupee-rouble trade mechanism. The discussions are ongoing and it is likely that an agreement will be reached in the near future.

The Indian stock market is likely to open lower on Thursday, tracking losses in global markets. Investors will be closely watching developments in the US-China trade war and the potential for a global recession. The rupee is also likely to remain weak against the dollar. Investors will also be closely watching data on industrial production and retail inflation for June.