Rupee extends rising streak into sixth day on dollar inflows
时间:2024-09-27 18:36:56 阅读(143)
The Indian rupee recouped early losses to end higher for a sixth consecutive session on likely foreign inflows.The rupee settled at 83.0350 against the U.S. dollar, its highest closing level since Dec. 15, against its close of 83.1150 in the previous session.The local unit opened lower and hit an intraday low of 83.18 earlier in the day, before rising to an over three-week high of 82.98 in the session.
This was due to dollar selling by a large UK-based bank, according to three traders. These were likely external commercial borrowing inflows, they said.”Dollar inflows have kept the rupee the top performer among Asian currencies,” Dilip Parmar, a foreign exchange research analyst at HDFC Securities, said.
A report that is in line with expectations would mean progress towards the Federal Reserve’s 2% inflation target, making investors more confident that a series of rate cuts are on the way this year.The U.S. inflation data will indicate how well-placed the current interest rate expectations are.Investors see a high probability of rate cuts kicking off at the March meeting.Markets are currently pricing in a nearly 66% chance that the Fed could begin easing rates in March, the CME FedWatch Tool showed.
上一篇:Yoga for Humanity- PM Modi at forefront of International Day of Yoga celebrations - See photos
下一篇:Zomato share price jumps 1% today after Q4 loss narrows to Rs 187
猜你喜欢
- Strong business momentum may continue in MFIs
- Will the US Fed’s hawkish tone, rate hike threat stop Sensex, Nifty rally; experts weigh bonds-stocks tradeoff
- Woman jumps to death with six-month-old infant from 16th floor in Greater Noida
- China stocks struggle on weak sentiment after state fund’s support
- ‘2023 may see a period of consolidation for Indian equities’
- Will Nifty hit the 21000 milestone- 8 things to know before the share market opens
- Tata Steel, Bajaj Finserv, Adani Ports, Mindspace REIT, Rail Vikas Nigam, Hero MotoCorp stocks in focus
- Campus Activewear IPO opens for subscription; raises Rs 418 crore from 32 anchor investors
- Buy these 2 stocks for gains, Nifty bearish trend may continue, support at 15650 – 15500