USD/INR (INR=X)
| Previous close | 83.3390 |
| Open | 83.3400 |
| Bid | 83.2490 |
| Day's range | 83.2270 - 83.3900 |
| 52-week range | 81.0260 - 84.9293 |
| Ask | 83.2990 |
- Reuters
INDIA RUPEE-Rupee ends higher, forward premiums climb to over 2-month high
The Indian rupee strengthened on Thursday while far forward premiums rose to their highest in more than two months on rising expectations of the U.S. Federal Reserve easing monetary policy cycle. The dollar has struggled for most of this month in the wake of increasing confidence that the Fed will deliver a series of rate cuts next year, most likely beginning as soon as next quarter. The probability of a Fed rate cut in January has risen to 16% from under 1% a month back, according to the CME FedWatch Tool.
- Reuters
INDIA RUPEE-Rupee ends at record closing low, underperforms key Asian peers in Nov
The Indian rupee fell to its lifetime closing low on Thursday and was the worst performer among key Asian peers in November which have rallied amid a slump in U.S. yields and the greenback. Likely intervention from the Reserve Bank of India limited further downside for the local unit on Thursday, five traders said. Most Asian currencies jumped on the back of lower U.S. yields and a weaker dollar in November, but the rupee stayed on the sidelines as positive global cues were eroded by strong local demand for the greenback, traders said.
- Reuters
INDIA RUPEE-Rupee battles persistent dollar demand in face of dovish Fed outlook
The Indian rupee is expected to open little changed on Thursday as persistent dollar demand countered increasing confidence that the U.S. Federal Reserve will cut rates in the second quarter of next year. Non-deliverable forwards indicate the rupee will open nearly unchanged from 83.3250 in the previous session. The rupee's "absolute lack of acknowledgement" to the changing dollar and the U.S. interest rate outlook is "confounding to say the least", an FX trader at a bank said.
