“Rupee extended its gains in yesterday’s session after Fed Chairman signaled a likely slowdown in the pace of tightening in December, while indicating that more hikes will be necessary to curb inflation.
currencies market
Indian Rupee Hits Record Low As Dollar Index Surges
The Indian rupee hit its lowest level against a strengthening U.S. dollar after Jerome Powell’s hawkish remarks at Jackson Hole.
Safe-Haven Currencies in Demand Amid U.S., Iran Tension
The yen and other safe-haven currencies were in demand on Monday, along with assets such as gold, as investors fretted that the killing of Iran’s most prominent military commander by the United States could trigger a broader Middle East conflict.
USD/INR Trades in Range, Further Trend Sideways – Gold Silver Reports
USD/INR Trades in Range
Intraday bias remains slightly bullish for the moment.
It made intraday high at 69.79 and low at 69.66 marks.
Rupee Crashes to New Record Closing Low of 74.06 Against US Dollar
Rupee Crashes to New Record Closing Low — The rupee today touched a life-time low of 74.23 (intra-day) after the Reserve Bank of India (RBI) unexpectedly kept the policy rate unchanged.
Rupee Trades Higher Against US Dollar
Gold Silver Reports (GSR) – Rupee trades higher against US dollar – The Indian rupee strengthened against the US dollar, tracking gains in local equity and Asian currencies market.
At 9.15am, the rupee was trading at 68.72 a dollar, up 0.20% from its previous close of 68.85. The currency opened at 68.77 a dollar.
The 10-year bond yield stood at 7.788%, from its Friday’s close of 7.786%. Bond yields and prices move in opposite directions.