Elevated Oil Prices Keep Pressure on Indian Rupee
Elevated oil prices are pressuring the rupee as traders await cues from the Federal Reserve.
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Elevated oil prices are pressuring the rupee as traders await cues from the Federal Reserve.
The rupee slipped on Wednesday as elevated oil prices pressured local assets. The central bank likely intervened to contain the currency’s weakness.
The Indian rupee hovered near 94.84 per dollar, holding near six-week highs as Reserve Bank of India interventions and tighter foreign-exchange curbs continued to support the currency despite elevated crude oil prices and persistent foreign portfolio outflows. The rupee gained 2% last week, its strongest weekly perform
Oct 16 (Reuters) — Indian shares are likely to open higher on Friday, extending their recovery from the previous session, as a drop in US Treasury yields and changes to the closing auction session by the local markets regulator support sentiment. GIFT Nifty futures were at 23,082 at 7:52 a.m. IST, indicating a positive
Oct 13 (Reuters) — Indian equities were poised for a muted open on Tuesday as investors monitored Middle East tensions and elevated crude oil prices, while a faster-than-expected rise in retail inflation strengthened the case for further interest rate hikes. GIFT Nifty futures were at 22,423.5 at 7:50 a.m. IST, indicat
By Jamie McGeever ORLANDO, Florida, Oct 12 (Reuters) — Oil and fuel prices rose on Monday following weekend attacks on a Saudi airport, which had a varied impact on global stocks. Asia shares mostly fell, Europe shares rose, and Wall Street was mixed. The dollar continued its recent rally and hit an 18-month high, and
Rupee fell 0.7% in September and 1.2% in the July-September quarter, with RBI intervention helping avert steeper losses.
Most Asian currencies fell as oil prices and elevated US Treasury yields pressured risk sentiment. The Thai baht touched 33.64, its weakest since late July, and the rupiah fell to 17,985 per dollar.
Rupee fell 0.1% to 95.95 per dollar as Brent rose 2.5% and India's 10-year yield rose on Monday.
Most Asian currencies weaken, with Thailand's baht leading losses at as much as 33.635 per dollar. Indonesian rupiah, Philippine peso and South Korean won also weaken as US yields rise.
Reuters preview says the rupee and government bonds are likely to stay under pressure in a holiday-shortened week. Traders are watching elevated oil prices, multi-year-high global yields and expectations for an RBI rate hike next week.
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The Indian rupee is expected to open around 95.90-95.95 on Monday, marginally weaker than its previous close of 95.8725. Traders are closely monitoring oil prices and foreign portfolio flows for direction. Expectations of central bank intervention are seen limiting the currency's weakness. Hopes of a diplomatic solutio
The Indian rupee is expected to trade between 95.30 and 96.00 this week, supported by portfolio inflows and central bank intervention. Meanwhile, benchmark 10-year bond yield may edge higher as investors focus on the Reserve Bank of India's liquidity withdrawal.
The Indian rupee fell to around 96.1 per dollar, extending losses to multi-week lows as elevated crude oil prices, a stronger dollar and expectations of further US monetary tightening weighed on the currency. Brent crude hovered near $108 a barrel, keeping demand for dollars from oil importers elevated, while the US 10