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The Indian rupee could be headed towards 80 against the US dollar, according to analysts, as a confluence of three factors has resulted in the latter weakening against many major currencies of the world. After briefly edging towards the 83 mark against the US dollar in October, the rupee has recovered, appreciating by over 2% in the last one month. Amongst the key drivers for the fall in the dollar index is the expectation of the US Fed to go softer on rate hikes.

The rupee appreciated 18 paise to 81.08 against the US dollar in early trade on Friday supported by a weak dollar in the overseas market. Forex trade...

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The rupee appreciated 32 paise to 80.98 against the US dollar in early trade on Thursday on a broad dollar weakness after Federal Reserve Chairman Jerome Powell said the pace of interest rate hikes may slow.

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The rupee appreciated 34 paise to close at 81.38 (provisional) against the US dollar on Wednesday as a weak greenback in the overseas market and a rally in domestic equities boosted investor sentiment. At the interbank foreign exchange market, the local unit opened at 81.63 and touched an intra-day high of 81.38 and a low of 81.64 against the greenback.

The Reserve Bank of India could slow its pace of rate hikes, say analysts as they expect the December hike to be in the range of 25-35 basis points. Amongst the key drivers for slower rate hikes is the moderating inflation, easing commodity prices and a cool down in crude oil prices. In addition to this, industry body CII also wrote to the central bank to consider moderating rate hikes, calling it the “need of the hour”.

The rupee has come substantially off its all-time low. Currently, it is trading around 81.64-81.70 against the US dollar as against its record low of 83 it breached in mid-October, primarily due to the strength in the US Dollar Index.

The rupee appreciated 17 paise to 81.55 against the US dollar in early trade on Wednesday on broad dollar weakness and a positive trend in domestic e...

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The Reserve Bank on Tuesday said it will launch the first pilot for retail digital rupee (e₹-R) on December 1, 2022, in which four banks including SBI and ICICI Bank will initially participate. On November 1, the RBI launched the first pilot in the digital rupee - wholesale segment.

The rupee appreciated 8 paise to 81.60 against the US dollar in early trade on Tuesday as foreign capital inflows and a firm trend in the domestic equity market boosted investor sentiments. Besides, a weak American currency in the overseas market helped the local unit, forex dealers said.

There is a wide divergence in market consensus regarding Q2 GDP numbers to be released on November 30, said SBI Ecowrap. On ...

Alternative investing is becoming more mainstream, but questions remain around if these assets should be something only the elite can invest in.