The equity market is 'nervous' about the general election results, due on June 4, which is likely to maintain some pressure on the South Asian currency, expert says
The equity market is 'nervous' about the general election results, due on June 4, which is likely to maintain some pressure on the South Asian currency, expert says
Investors now await US jobless claims data due later in the day for cues on strength in the labour market
The Reserve Bank of India was selling dollars to keep the rupee from sliding below the all-time low, say traders
Amid easing tensions over the conflict in the Middle East, the focus will remain on the outlook for when the Federal Reserve may begin to ease policy rates
US equity futures and Asian shares declined while safe haven demand lifted US Treasuries
The South Asian currency may fall below the 83.50 mark today 'if the RBI doesn't intervene or if it does mild intervention as it has been over the last few days', a trader says
It will be important to watch if the central bank nudges the South Asian currency higher as a slight downward bias is likely to persist in the market, says expert
The South Asian currency was expected to face some pressure on the back of a decline in the offshore Chinese yuan
The Reserve Bank of India likely sold US dollars via state-run banks to prevent further depreciation in the rupee
Traders said it was weighed down by broad weakness in its Asian peers and aggressive local dollar demand