Indian Rupee falls to all-time low of 89.61 against USD due to US-India trade uncertainty and heavy foreign portfolio outflows. RBI’s lower intervention and rising import demand add pressure.
FOREX
Sovereign gold bonds: How a well-intentioned Scheme is Emptying the Government Coffers
The sovereign gold bond was conceptualised as an instrument which could kill two birds with one stone. It would partially satisfy Indian investors’ demand for gold, which has to be imported, and help fund the central government’s borrowing needs at a low interest rate.
Indian Rupee Appreciates Against The U.S. Dollar
Indian rupee strengthened 17 paise to open at 82.68 against the U.S. dollar on Tuesday. The Indian rupee strengthened against the U.S. dollar on Tuesday on the back of a possible RBI intervention in the foreign exchange market and a pause in the greenback’s rally.
Currencies Forecast: US Fed may not yield to market pressure
India’s forex reserves slumped to the lowest in over two years, marking the third straight week of decline as the Reserve Bank of India, true to its word, intervened to keep the rupee from weakening past 80 per dollar during a week when the dollar surged to over two-decade highs.
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.
India’s foreign Exchange Reserves Rose by $441 Million During The Week Ended
India’s foreign exchange reserves rose by $441 million during the week ended November 15, official data showed on Friday.
USD/CNY consolidates around 6.9050 Mark, People’s Bank of China sets Yuan mid-point at 6.8822
We prefer to take short position on USD/CNY only below 6.8976, stop loss 6.92 and target of 6.8525.
It made intraday high at 6.9087 and low at 6.8976 levels.