![]() The use of this website constitutes acceptance of our user agreement. Note: All information on this page is subject to change. They are key indicators to measure inflation and changes in purchasing trends. It is measured among others by the CPI (Core Price Index) and the PPI (Production Price Index). Inflation is another economic value that is important for the USD/INR pair. If a steady demand in exchange for INR exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the INR. It is an event that generates some volatility for the USD/INR. A positive value shows a trade surplus, while a negative value shows a trade deficit. In terms of economic data, we should highlight the Trade Account Balance, a balance between exports and imports of total goods and services. The US Government (and its President Joe Biden): events as administration statements, new laws and regulations or fiscal policy can increase or decrease the value of the US Dollar and the currencies traded against it, in this case the Bank of India.The Fed controls the monetary policy, through active duties such as managing interest rates, setting the reserve requirement, and acting as a lender of last resort to the banking sector during times of bank insolvency or financial crisis. Fed, the Federal Reserve of the United States of America whose president is Jerome Powell. ![]() Government of India, often abbreviated as GoI, (whose President is Ram Nath Kovind) and its Ministry of Finance (whose minister is Nirmala Sitharaman) that implement policies that affect the economy of the country.It plays an important part in the Development Strategy of the Government of India, issues statements and decides on the interest rates of the country. RBI is the regulator of entire Banking in India. Reserve Bank of India which controls the issue and supply of the Indian rupee.In India, the organizations and people that affect the most the moves of the USD/INR pair are: ORGANIZATIONS, PEOPLE AND ECONOMIC DATA THAT INFLUENCE USD/INR Indices: S&P BSE SENSEX (S&P Bombay Stock Exchange Sensitive Index), NIFTY (National Stock Exchange of India's benchmark stock market index for Indian equity market) and NSE (National Stock Exchange of India Ltd).Bonds: T-NOTE 10Y (10 year United States Treasury note) and GIND10YR (India Government Bond Generic Bid Yield 10 Year).Commodities: Gold, oil and silver (India is a major oil and commodity importer).The Rupee is symbolized by ₹ and is the 20th most traded currency worldwide. (Only the headline and picture of this report may have been reworked by the Business Standard staff the rest of the content is auto-generated from a syndicated feed.The USD/INR pair tells the trader how many Indian Rupees (the quote currency) are needed to purchase one U.S. On the domestic equity market front, the BSE Sensex ended 157.45 points or 0.27 per cent higher at 58,807.13, while the broader NSE Nifty rose 47.10 points or 0.27 per cent to 17,516.85.įoreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 579.27 crore, as per exchange data. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.20 per cent up at 96.08.īrent crude futures, the global oil benchmark, declined 0.46 per cent to USD 75.47 per barrel. The Reserve Bank of India on Wednesday kept borrowing costs at a record-low for the ninth consecutive time, as it decided to continue supporting economic growth amid uncertainty over the impact of the Omicron strain on the economy. On Wednesday, the Indian rupee fell to a near two-month low of 75.50 against the US dollar, as RBI's bi-monthly monetary policy decision failed to enthuse forex market participants. The rupee finally settled at 75.53, down by 3 paise over its previous close. The local unit soon pared its initial gains and touched a low of 75.58 against the US dollar. The rupee on Thursday edged down by 3 paise to settle at 75.53 (provisional) against the US dollar, tracking a firm American currency amid concerns over the impact of the new COVID variant on the economy.īesides, unabated foreign fund outflows weighed on investor sentiments, traders said.Īt the interbank foreign exchange market, the local currency opened at 75.45 against the greenback.
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