India Rupee – Asia FX: Most down as dlr index surges to 1-year high
NEW DELHI– Most Asian currencies were down against the US dollar in early trade today after the dollar index surged to a one-year high on Wednesday.
Hardening of US treasury yields amid rising energy prices and concerns about a slower-than-expected global economic recovery boosted the global demand for the greenback.
The yield on US bonds surged over the last five sessions, after US Federal Reserve Chair Jerome Powell last week hinted that the central bank could begin reducing its asset purchases by as early as November.
At 0903 IST, the dollar index was at 94.26 compared with 94.34 on Wednesday. It was at 93.77 on Tuesday.
Investors now fear higher interest rates by next year, against the earlier expectation of rate hikes in 2023.
Today, the Taiwan dollar fell the most among Asian currencies at 0.25%.
Meanwhile, the Thailand Baht recovered after falling to three-year lows, as the central bank kept key interest rate unchanged at a record low and raised its growth outlook for 2022 to 3.9% from 3.7% earlier. (Pratiksha and Shubham Rana)
India Rupee: Expected range for rupee – Sep 30
MUMBAI – The following are the expected support and resistance levels for the rupee, as forecast by leading banks and brokerages in an Informist poll:
(Arushi Jain)
End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
Cogencis news is now Informist. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to [email protected]
© Informist Media Pvt. Ltd. 2021. All rights reserved.
India Rupee: Expected range for rupee – Sep 30
MUMBAI – The following are the expected support and resistance levels for the rupee, as forecast by leading banks and brokerages in an Informist poll:
(Arushi Jain)
End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
Cogencis news is now Informist. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to [email protected]
© Informist Media Pvt. Ltd. 2021. All rights reserved.
Source: Cogencis
