The upside in the South Asian currency is expected to be capped by the ongoing nervousness about the India election outcome, which is prompting foreign outflows
The upside in the South Asian currency is expected to be capped by the ongoing nervousness about the India election outcome, which is prompting foreign outflows
The Reserve Bank of India could be lining up dollar offers on the interbank order matching system to prevent the currency from slipping to an all-time low, say traders
Foreign investors took out more than $2 billion from Indian equities last week
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