The downside in the Indian rupee, which has been steadily depreciating over the past months, is unlikely to abate soon as it hit yet another record low on Monday.
India's foreign exchange reserves declined by USD 4.472 billion in the week that ended November 21 to USD 688.104 billion, driven by a slump in both foreign currency assets and gold reserves, the Reserve Bank of India's latest 'Weekly Statistical Supplement' data showed.
The Indian rupee vis-a-vis the US dollar is currently trading in a tight range, under pressure from a mix of domestic strength and external challenges, including US tariffs and persistent capital outflows.
The higher US interest rates and a cautious risk appetite among foreign investors are also resulting in continuous pressure on the Indian Rupee. Experts believed that the rupee's weakness is being reinforced by deteriorating trade fundamentals.
The Indian Rupee may continue to weaken gradually and inch towards the psychological level of 90 per US dollar by March 2026, highlighted a report by Union Bank of India.
India's foreign exchange reserves declined by USD 2.699 billion in the week that ended November 7 to USD 687.034 billion, driven by a slump in both foreign currency assets and gold reserves, the Reserve Bank of India's latest 'Weekly Statistical Supplement' data showed.
India's currency rupee, may finally have bottomed out after a persistent weakness, according to Jefferies. In its latest GREED & fear report, the global financial services firm highlighted a "growing likelihood that the rupee has bottomed" following its months-long depreciation.
India's foreign exchange reserves declined by USD 6.925 billion in the week that ended October 24 to USD 695.355 billion, driven by a slump in both foreign currency assets and gold reserves, the Reserve Bank of India (RBI) latest 'Weekly Statistical Supplement' data showed.
Broader consumption demand in India may take one more quarter to recover fully, even as some sequential improvement is expected in high-frequency economic indicators, according to a report by Axis Securities.
Reliance Industries Limited (RIL) is expected to benefit from the recent surge in diesel cracks, seasonal demand, and depreciation of INR, according to a report by JP Morgan
The medium-term outlook for the Indian rupee remains tilted to the downside unless there is relief from the persistent twin deficit, current account and fiscal deficit, according to a report released by Union Bank of India.