BNY’s Geoff Yu notes that India’s bonds sold off after the Reserve Bank of India (RBI) unexpectedly advanced closure of its special Dollar deposit window to end-August. The change reduces anticipated Indian Rupee (INR) liquidity, lifts 5-year and 10-year yields, and may slow reserve accumulation and Rupee appreciation as authorities grow wary of future liabilities and forward-premium costs.
Indian Rupee
Rupee Hits Record Low of 89.61 Against Dollar Amid US Trade Tensions & FPI Outflows
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.
Today Indian Rupee Slides to Record Low
The Indian rupee weakened to around 88.25 per dollar on Friday, hitting an all-time low, pressured by ongoing concerns over steep US tariffs on Indian exports.
Indian Rupee Goes From Asia’s Best to Worst in Two Weeks on Covid
The Indian rupee has turned into Asia’s worst-performing currency from being the best in the previous quarter. It’s poised for more losses as a resurgence in coronavirus cases to a record threatens to hamstring the economy.
Gold Price Dip Attracts Buyers Amid Wedding Season
Physical gold demand improved this week in India as a correction in local prices attracted buyers, particularly with the wedding season underway, while premiums in China rose on steady buying in the world’s leading consumer.