Indian rupee breached the 90 mark against USD on Wednesday morning, extending its depreciation run through sessions now, and in the process hitting a fresh all-time low for the Indian currency.
The rupee is expected to trade in the range of 87.5-88.5 against the US dollar in the near term, while strong macroeconomic fundamentals are likely to support the domestic currency in the long run, according to a report released by Bank of Baroda.
The Indian rupee is expected to trade in the range of 85.25-86.25 against the US dollar in the near term, according to a recent report by Bank of Baroda.
Even in May, it continued to trade in a tight range of 83.43-83.52 per US dollar amidst a lack of FPI inflows and dollar demand from oil companies, according to a report by the Bank of Baroda.
New Delhi [India], May 8 (ANI): Finance Minister Nirmala Sitaraman on Friday launched INR-USD futures and options contracts on the two international exchanges BSE's India INX and NSE's NSE-IFSC at GIFT International Financial Services Centre in Gandhinagar through video conference.