Latest Updates Around The World
The Indian rupee soared on Wednesday, posting its best overnight gain in two months, after a crackdown by the Reserve Bank of India ended its five-day slide and eased nascent speculative pressures on the currency.The rupee closed at 90.38 per US dollar, up 0.7% from the closing rate of 91.0275 in the previous session. The […]
The rupee weakened further past the 90 per dollar mark to a record low for the third straight session on Monday, driven by concerns over a prolonged deadlock in US-India trade talks and continued portfolio outflows. The rupee fell to 90.7850, extending this year’s decline to around 6%, before ending the session slightly higher at […]
Investors who see the rupee weakening past $90 against the dollar have a new indicator to assess: Goldman Sachs believes the worst phase of the currency’s underperformance is largely behind it, even as India’s external balances remain under pressure and rate uncertainty clouds the outlook. The brokerage argued that while flows have deteriorated significantly, India’s […]
