by Dhara Hariya | Sep 27, 2023 | Forex
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...
by Dhara Hariya | Sep 20, 2023 | Forex
India’s central bank, the Reserve Bank of India (RBI), took action to prevent the rupee from sliding to a historic low, according to reports from four traders interviewed by Reuters. The currency market had been closely monitoring the rupee’s performance,...
by Dhara Hariya | Sep 18, 2023 | Forex
The Indian rupee faced fresh challenges as it closed at a new record low on Monday, despite support from the Reserve Bank of India (RBI), driven by escalating crude oil prices that heightened demand for the U.S. dollar. Closing at 83.2675 against the U.S. dollar,...
by Dhara Hariya | Sep 18, 2023 | Forex
The Bank of Japan’s (BoJ) repeated interventions to bolster the yen have proven ineffective, prompting a need for more substantial policy changes. This could entail lifting interest rates from negative territory, abandoning yield curve control, and discontinuing...