Blogs & Updates
Indian Rupee Resists Decline as RBI Steps In to Prevent Lifetime Low
The Indian rupee stood firm amidst a weakening trend among Asian currencies, thanks to the intervention of the Reserve Bank of India (RBI). As of 10:25 a.m. IST, the rupee was trading at 83.23, almost unchanged from its previous session's close at 83.2425. This...
INR Expected to Strengthen as Dollar Weakens Amid Fed Speculations
The Indian rupee is anticipated to start on a higher note this Wednesday as the prospects of the U.S. Federal Reserve refraining from raising interest rates have weakened the demand for the U.S. dollar. Non-deliverable forwards suggest that the USD/INR pair will open...
Indian Rupee Holds Steady Amidst Global Uncertainty
The Indian rupee experienced minimal fluctuations on Tuesday, barely changing against the U.S. dollar. This stability can be attributed to a decline in U.S. Treasury yields and concerns surrounding elevated crude oil prices in the wake of the Middle East conflict....
Indian Rupee Steadies Amidst Geopolitical Uncertainty
On Monday, the Indian rupee exhibited limited movement in a cautious trading session, despite escalating geopolitical tensions. Traders, apprehensive of potential dollar-selling interventions by the Reserve Bank of India (RBI) if the local currency approached its...
RBI’s Monetary Policy Focus on Liquidity Management Amidst Changing Economic Landscape
The Reserve Bank of India (RBI) maintains its focus on liquidity conditions in monetary policy, with the aim of keeping overnight rates near the marginal standing facility (MSF) rate at 6.75 percent, rather than the repo rate at 6.50 percent. This approach has been...
India’s Foreign Exchange Reserves Decline for Fourth Consecutive Week
India's foreign exchange reserves, as reported by the Reserve Bank of India (RBI), have decreased for a fourth consecutive week, reaching $586.91 billion as of September 29. This marks the lowest level in over five months, with a decline of $3.8 billion from the...
Market Highlights: Sensex and Nifty Show Resilience, Rupee Defies Asian Weakness
Stocks: The Indian stock market displayed signs of resilience as the benchmark BSE Sensex rose by 173.22 points, equivalent to a 0.26% gain, reaching 66,118.69. Simultaneously, the broader NSE index, Nifty, gained 51.75 points, or 0.26%, closing at 19,716.45. These...
INR Holds Steady Amid Asian Weakness, Thanks to RBI Support
Rupee's Resilience: Despite a backdrop of weakening Asian currencies, the Indian rupee remained relatively stable on Wednesday. It closed at 83.22 against the U.S. dollar, just a slight deviation from the previous session's closing rate of 83.23. This resilience was...
India’s Central Bank Takes Action to Defend Rupee: Sells Dollars at Key Levels
In a bid to safeguard the Indian rupee from plummeting to record lows, India's central bank recently engaged in a strategic move. It sold U.S. dollars in the offshore non-deliverable forwards (NDF) market at approximately 83.24-83.25 rupee levels. This move came just...