While inflation is likely to remain elevated in the near term, we think the MPC may acknowledge that price pressures have peaked, and note the favourable tailwinds by reducing its inflation forecasts, albeit marginally. USD to INR FORECAST for tomorrow, this week and month. More details on current USD to INR below. While declining international commodity prices is offering some reprieve, we think elevated inflation rates will continue to warrant some caution for the policy outlook. Current USD to INR exchange rate equals 79.8180Rupees per 1 US Dollar. Live Data Historical Data Line Chart Vote Highlight. In a note, Rahul Bajoria, MD & Chief India Economist, Barclays, said: “We expect the MPC to vote unanimously for a 35 bps hike in policy rate next week. Current US Dollar to Rupee Exchange Rates (All values were last updated at 11:00:01 UTC). It does seem that the INR to USD is often reaching new lows as time goes on. According to experts, it is believed that the 1 dollar in rupees today will continue to stay within the 77-80 range. On Monday, foreign institutional investors were net buyers in the capital market, purchasing shares worth ₹2,320.61 crore, as per exchange data.Īnalysts say that this week's focus will be the Reserve Bank of India policy statement due on Friday. Reference rates over last four months - Indian rupee (INR) 2 80.4970, 3 80.8420, 4 80.4035 9 81.7415, 10 81.5425, 11 81.4935 16 81.0810, 17 81. The reason the dollar price in India is continuing to rise against the rupee is due to a number of factors, including inflation and rising crude oil prices. Traders will also be watching the outcome of OPEC+ meeting, which comes after President Joe Biden urged Saudi Arabia to pump more on a visit to the kingdom last month.ĭomestic equity markets were weak today with BSE Sensex and Nifty down about 0.5% each. Crude oil weakness also helped the markets to remain positive for rupee, said Jateen Trivedi, VP Research Analyst at LKP Securities.īrent crude futures fell 77 cents, or 0.8%, to $99.26 a barrel amid concerns over global recession. Indian rupee has pulled back from recent lows as FII inflows continued in domestic capital markets and broad weakness in US dollar.
0 kommentar(er)
