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Rupee touches two-month high on inflows; RBI seen anchoring volatility
India’s rupee strengthened to a two-month high near 87.64 per U.S. dollar before stabilising around 87.70, supported by foreign portfolio inflows and persistent dollar selling by state-run banks. Traders cited a firmer flow mix, with importers hedging and exporters delaying conversions. Market participants also pointed to the Reserve Bank of India’s steady presence near the 88 level as a volatility anchor. Attention now shifts to delayed U.S. inflation data and the Federal Reserve’s upcoming meeting, which could steer risk appetite, Asian currencies and near-term INR direction into next trading week.
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- forex
- inr
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positive
Rupee touches two-month high on inflows; RBI seen anchoring volatility
India’s rupee strengthened to a two-month high near 87.64 per U.S. dollar before stabilising around 87.70, supported by foreign portfolio inflows and persistent dollar selling by state-run banks. Traders cited a firmer flow mix, with importers hedging and exporters delaying conversions. Market participants also pointed to the Reserve Bank of India’s steady presence near the 88 level as a volatility anchor. Attention now shifts to delayed U.S. inflation data and the Federal Reserve’s upcoming meeting, which could steer risk appetite, Asian currencies and near-term INR direction into next trading week.
Tags:
- forex
- inr
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Rupee touched a two-month high near 87.64 on robust inflows and suspected RBI support, though importer hedging capped gains; traders watch U.S. inflation and Fed signals for direction this week.
India’s rupee strengthened to a two-month high near 87.64 per U.S. dollar before stabilising around 87.70, supported by foreign portfolio inflows and persistent dollar selling by state-run banks. Traders cited a firmer flow mix, with importers hedging and exporters delaying conversions. Market participants also pointed to the Reserve Bank of India’s steady presence near the 88 level as a volatility anchor. Attention now shifts to delayed U.S. inflation data and the Federal Reserve’s upcoming meeting, which could steer risk appetite, Asian currencies and near-term INR direction into next trading week.
India’s rupee strengthened to a two-month high near 87.64 per U.S. dollar before stabilising around 87.70, supported by foreign portfolio inflows and persistent dollar selling by state-run banks. Traders cited a firmer flow mix, with importers hedging and exporters delaying conversions. Market participants also pointed to the Reserve Bank of India’s steady presence near the 88 level as a volatility anchor. Attention now shifts to delayed U.S. inflation data and the Federal Reserve’s upcoming meeting, which could steer risk appetite, Asian currencies and near-term INR direction into next trading week.
Tags:
- forex
- inr
- forex
- inr
- flows
- asia fx
- central bank