![]() The rupee forward premiums jumped, tracking the fall in U.S. equity futures surged, further undermining demand for the dollar. Treasury, took steps to contain the fallout from SVB's collapse. "Fed funds futures rate expectations have already shifted markedly – not only do markets now see a lower peak, but rate cuts later this year are back on the menu," Capital Economics said in a note. There is now a high likelihood that the Fed will deliver a 25-bps rate hike in March, futures pricing shows. The Indian rupee (INR) is the official currency of the Republic of India and is issued by the Reserve Bank of India. Investors are betting that the crisis at Silicon Valley Bank (SVB) will force the Fed to opt for a smaller rate hike at this month's meeting. yield added to its Friday tumble to slip to nearly 4.35%, the lowest level in a month. By Ambar Warrick - Most Asian currencies traded in a flat-to-low range on Wednesday as data showed a somewhat mixed recovery in the. yields fuelled the selloff on the dollar. The dollar index declined below 104 while Asian currencies such as the Korean won and the Thai baht jumped more than 1%. Plus, it could be that the likely increase in volatility is prompting speculators to exit dollar short positions, he added. Federal Reserve will adopt a less hawkish stance at its next meeting.Īfter the open, the rupee ran into normal dollar demand that we usually see on dips (on USD/INR), a trader at a private sector bank said. The local currency had opened at 81.76, tracking the dollar's all-round slump on bets the U.S. It was replaced by the 5-paise coin, which was itself discontinued in 1994 and demonetised in 2011. The anna was demonetised as a currency unit when India decimalised its currency in 1957, followed by Pakistan in 1961. ![]() There is no limit to the amount that can be deposited in bank accounts. IST compared with 82.04 in the previous session. When the rupee was decimalised and subdivided into 100 (new) paise, one anna was therefore equivalent to 6.25 paise. At the moment you can exchange up to 4,500 (£48) of the old rupees in cash for new 500 (£6) and 2,000 (£24) rupee notes. The rupee was at 81.90 to the dollar at 11:12 a.m. currency on Monday in line with its Asian peers, but was off its opening highs on dollar demand from importers and speculators. ![]() MUMBAI, March 13 (Reuters) - The Indian rupee rose against the U.S. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |