- 18 Sep
Rupee Depreciates to Lowest Level on Stronger Dollar, Higher Crude Oil Prices, and Widening Trade Deficit
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.
- 13 Sep
Rupee Appreciates Marginally on Tuesday, But Gains Capped by Strong Dollar and Higher Crude Prices
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.
- 12 Sep
Rupee Ends Weaker Despite Dollar Correction, Strong Equities
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%.
- 11 Sep
Rupee expected to appreciate towards 82.80
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.