The Indian rupee fell against the US dollar today among concerns about India’s slowing economic growth and the bout of risk aversion on the Forex market.
Indian Rupee INR
Central Bank: Reserve Bank of India
Public Debt to GDP Ratio, 2015: 51.7%
Trade Balance, 2015: -$144.7 bln.
Inflation, 2015: 5.6%
High-yielding interest rates
Factors of Weakness
High-risk emerging country
The Indian rupee is the official currency of the Republic of India. It replaced all the currencies of the previously autonomous states following independence in 1947.
Indian Rupee News Archive
The Indian rupee was down a little against the US dollar following yesterday’s decision of India’s central bank to reduce interest rates in order to support economic growth.
The Indian rupee managed to gain against the US dollar today following yesterday’s monetary policy meeting. While India’s central bank retained its dovish bias, it was not yet ready to make another reduction of borrowing costs.
The India rupee dropped today after the nation’s central bank cut its interest rate, including the key Bank Rate. The bank also commented on the strength of the currency, considering it excessive. While the currency was down against the US dollar, it managed to outperform the extremely weak euro.
The Indian rupee dropped today for the fourth straight session. Market analysts speculated that the currency dropped as importers were buying dollars to pay for their bills by the end of the year.
The Indian rupee declined today on concerns that the planned interest rate hike from the Federal Reserve will deter investors from emerging markets. Yet the currency was able to recover as of now, suggesting that volatility on the market is rising after the Fed meeting and ahead of the holiday period.
The Indian rupee gained today as the nation’s central bank kept its interest rates stable, refraining from monetary easing. At the same time, Governor Raghuram Rajan hinted that the bank is able to cut borrowing costs if necessary.
The Indian rupee declined today against the US dollar as speculations about potential monetary tightening from the Federal Reserve continues to support the greenback against other currencies, particularly riskier ones.
The India rupee retreated today on speculations that the nation’s central bank intervened in order to prevent excessive appreciation of the currency that may hurt the country’s economic growth. The currency managed to pare losses and resumed its rally as of now.