[ad_1] Indian rupee’s exchange-traded options went into a tizzy on Wednesday after brokers asked clients to submit proof of underlying exposure on their derivative contracts or unwind their existing positions, three market participants said. This came after brokers thought a central bank rule, to be effective on April 5, that exchange-traded rupee … Read more
[ad_1] India’s currency is likely to appreciate to 81 per dollar by end-December from around 82.9 on Tuesday. Photographer: Dhiraj Singh/Bloomberg The rupee turned flat at 83.33 against the US dollar in early trade on Thursday amid a strong American currency and higher crude oil prices. Forex traders said the positive equity markets … Read more
[ad_1] The Reserve Bank of India’s likely intervention in the foreign exchange market on Wednesday prevented the rupee from hitting a record low, said market participants. The Indian unit depreciated by 9 paise against the US dollar to settle at Rs 83.38 a dollar, after touching the intraday low of Rs 83.45 per dollar. … Read more
[ad_1] The rupee, having depreciated 0.6 per cent against the US dollar in March, so far, is likely to rebound in April, largely on the back of foreign inflows ahead of India’s government bond inclusion into JP Morgan’s Government Bond Index-Emerging Markets (GBI-EM), set to begin at the end of June 2024. By … Read more