![]() ![]() 2 ** NSDL data shows foreign investors bought a net $109.4mln worth of Indian bonds on Dec. ** As per NSDL data, foreign investors bought a net $46.1mln worth of Indian shares on Dec. ** SGX Nifty nearest-month futures down 0.4% at 18,733 ![]() ** Brent crude futures up 1.2% at $83.7 per barrel ** USD/INR Dec forward premium at 8.0 paise ** USD/INR NSE Dec futures settled at 81.9575 on Monday ** One-month non-deliverable rupee forward at 82 onshore one-month forward premium at 12 paise The RBI will raise interest rates by a smaller 35 basis points to 6.25% in December, according to economists polled by Reuters. The 1-year USD/INR implied yield on Monday was at 1.80%, the lowest since 2011. The rise in Treasury yields and expectations that the Reserve Bank of India will deliver a smaller rate hike on Wednesday may push rupee forward premiums to new multi-year lows. The Fed rate is expected to peak at near 5%. Investors expect the Fed to dial back the size of rate hikes to 50 basis points at their next meeting and are pricing in rate cuts in the latter part of next year. economy were holding up well to the Fed rate hikes and made it less unlikely that the central bank could pivot later next year. The data indicated that parts of the U.S. services industry activity unexpectedly picked up in November. equities declined after data showed that U.S. Treasury yields and the dollar index rose on Monday and U.S. The local unit on Monday fell by the most in over a month.Īfter Monday's disappointment, the question now is whether rupee will be able to at least defend the 82 level, a spot trader at a foreign bank said.Ī near-term range of 81-82 for the rupee has been broad consensus, and price action during the day will decide if that range will be revised, the trader added. The rupee has in the last two sessions declined despite a host of positive cues. dollar, weaker than the 81.79 closing in the previous session. The rupee is projected to open at around 81.90 per U.S. data rekindled worries on how high the Federal Reserve will hike rates. Moreover, sustained foreign fund inflows into Indian equities and easing crude oil prices lent support to the rupee.įoreign Institutional Investors (FIIs) net bought Indian shares worth ₹1,833.13 crore, while Domestic Institutional Investors (DIIs) net sold Indian equities worth ₹789.67 crore on May 10.MUMBAI, Dec 6 (Reuters) - The Indian rupee is expected to open lower versus the dollar on Tuesday after better-than-expected U.S. On Wednesday, the local currency gained 7 paise to close at 81.99 against the US dollar as investors remained on the sidelines ahead of the US inflation data. A move below 81.80 would weaken further towards 81.60," it added. US$INR could face the resistance of 50 day EMA at 82.15 and slide towards the immediate support at 81.80. Rupee falls 14 paise to 81.92 against US dollar in early trade Forex traders said factors like significant foreign fund inflows, positive domestic equities supported the local unit and restricted. “USD/INR is likely to face the hurdle near 82.15 and decline towards the 81.80 as the probability of rate cut towards the second half of the year has increased. The drop in the April CPI to 4.9% knocked the Treasury yields lower and raised the bets that Fed would cut the rates in this year," ICICI Direct said in a note. “The US dollar index fell by 0.20% on Wednesday as the US CPI dropped below the expected 5% mark for the first time since June 2021. The Sensex eased 0.06% to close at 61,904.52, and the Nifty ended 0.1% lower at 18,297.00.Īlso Read: Achhe din for rupee? Domestic currency may fall below 80 against dollar in coming months, say analysts Meanwhile, the Indian bencmark equity indices ended marginally lower Thursday. The month-on-month and the year-on-year core inflation rate rose 0.4% and 5.5%, matching expectations. The American currency dropped against its major peers, US yields dropped and US equities rose after the US consumer inflation rate rose by 4.9%, the lowest in two years and marking the tenth straight month of decline. ![]() The local unit opened 4 paise higher at 81.95 against the US dollar as compared to Wednesday's close of 81.99.ĭuring the session, the rupee touched its intra-day high of 81.93 and hit the lowest level of 82.13 against the dollar. The rupee opened marginally higher against the greenback Thursday amid sustained inflows into the domestic market and a weaker greenback. ![]()
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