The Indian Rupee is likely to weaken further to 88.5 per U.S. dollar following the imposition of fresh tariffs by U.S. President Donald Trump, according to a report by ICICI Bank.
Despite significant foreign portfolio investor (FPI) outflows in February, the Indian rupee managed to avoid sharp depreciation, because of a stable US dollar and the Reserve Bank of India's (RBI) active intervention, according to a report by Bank of Baroda.
The policy shifts by the RBI in managing the Indian currency against the US Dollar have significantly impacted the Rupee against the dollar, says a report by Union Bank of India.
The Indian Rupee (INR) is expected to trade within the range of 86.5 to 87.5 per US dollar in the near term, with the Reserve Bank of India (RBI) likely to keep its intervention limited, according to a recent report by Bank of Baroda.
The Indian rupee has been steeply depreciating for the past few weeks. It fell to a record low of 87.29 per dollar on Monday, weighed down by concerns over trade tariffs imposed by US President Donald Trump and global market uncertainties.
The "Trump Tantrum," referring to the impact of Donald Trump's presidency on the Indian rupee, is likely to be a short-term phenomenon, says a report by State Bank of India (SBI).
The Indian rupee depreciated versus the US dollar on Monday to touch its all-time low, tracking global heavy selling in stock markets, over risks that the US may potentially slip into recession.
The Indian rupee experienced significant volatility in June, largely driven by the impact of elections, Foreign Portfolio Investor (FPI) outflows, and a rise in oil prices, which collectively strengthened the US dollar against the rupee, according to a report by Bank of Baroda.
Addressing a gathering in Delhi, Governor Das highlighted the complexity of the current economic landscape, stating, "There is a multiplicity of factors. The dollar index has become quite strong. The bond yields in the US have reached an all-time high, but, if you look at the volatility of t
Monetary policy tightening by various central banks to contain inflation, the war in Ukraine leading to price rise for crude oil and subsequent realignment in the global energy supply chain, and strengthening of the US Dollar index kept the Indian currency under pressure.
India's foreign exchange reserves during the week that ended on December 9 rose by USD 2.91 billion to USD 564.07 billion. Notably, this is the fifth consecutive week of India's rising foreign exchange reserves.