

Rupee expected to struggle as positive US data strengthens dollar

The Indian rupee is likely to face pressure at the start of the week following a rise in US business activity to a two-year high, which has bolstered demand for the dollar. Non-deliverable forwards indicate the rupee (USDINR) will open slightly weaker against the US dollar. The currency reached an all-time low last Thursday, largely due to outflows related to Vodafone Group selling its stake in the Indus Towers of India. Find out why the Indian rupee is losing strength.

why rupee loses strength

Disclaimer:

The performances of the Indian rupee will be closely tied to global indicators such as the US PCE data. The rise in US business activity and a stronger dollar create a challenging environment for the rupee, and traders should exercise caution in navigating the financial markets.

Publication date:

2024-06-25 14:53:42 (GMT)

The terms and conditions of use set out below (referred to as "FX Blue's Terms"), form a contractual agreement governing FX Blue's relationship with you in relation to your use of this Website (“Agreement”) and you agree to be legally bound by FX Blue's Terms just as if you had signed this Agreement. By using this Website and any Information, you are agreeing to comply with and be bound by FX Blue's Terms, including any revisions that may be made to FX Blue's Terms from time to time. FX Blue reserves the right, in FX Blue's sole discretion, to change, modify, add or remove portions of FX Blue's Terms at any time by posting the revisions on the Website. You should check FX Blue's Terms periodically for changes as by using the Website after FX Blue posts any changes to FX Blue's Terms, you are agreeing to accept those changes, whether or not you have reviewed them, and you waive any right you may have to receive individualised notice of such changes. FX Blue's Terms may be supplemented by additional terms and conditions pertaining to specific content and activities. You agree and understand that such additional terms and conditions are hereby incorporated by reference to FX Blue's Terms. Your continued use of the Website means that you accept any new or modified FX Blue Terms.