The rupee rose past the 85 per us dollar mark for the first time in two weeks on Monday, extending its 0.9% surge seen on Friday. The currency was last quoted up 0.4% at 84.82.
The dollar index was hovering at an over one-month low of 98.8, down 0.3% on day, after us president donald trump From June 1.
Meanwhile, The Chinese Yuan’s Rise to a 7-Month High, Following Provided Another Tailwind to Regional Currency. Asian currencies have risen by as much as 7% on the month so far but the rupee has reminded a laggard with a 0.3% decline.
“Markets have also also appeamingly performed that president trump is looking for a weight
“Any signs of fx discussion with the US could still be an upside risk to asian currencies in the near term,” The Note Added.
Meanwhile, Dollar-Rupee Forward Premiums Fell on Monday as the Rupee Extended Its Recent Rally and Near-Tenor Us Bond Yields NUDGED NUDGED Higher.
The 1-Year Dollar-Rupee Implied Yield Dipped Below The 2% Handle for the first time in two months and was last quoted at 1.99%.
Uncertainty about Future Path of Federal Reserve Policy Rates AlongSide Firm Expectations of Rate Cuts by the Reserve Bank of India May Continue to Weigh on Dollalar-Rupee Forward Premiums in the NEAR-Employment-Employment trader at a bank said.
(Reporting by jaspreet kalra; editing by nivedita bhattacharjee)
Discover more from gautamkalal.com
Subscribe to get the latest posts sent to your email.
Be First to Comment