Rupee Falls on Equity Rebalancing and Strong Dollar Demand

Published 25-09-2024, 09:26 am

# USDINR trading range for the day is 83.5-83.8.
# Rupee weakened as outflows related to the rebalancing of some global equity indexes, coupled with dollar demand
# S&P retains India's growth forecast at 6.8%, expects RBI to cut rates in Oct
# Business activity at 9-month low in September as demand eases.

# EURINR trading range for the day is 92.54-93.7.
# Euro gains after China, unveiled a comprehensive package of economic stimulus measures to bolster its economy.
# Euro zone consumer confidence rose by 0.5 points in September from the August number
# The Ifo Business Climate indicator for Germany dropped to 85.4 in September 2024 from 86.6 in August.

# GBPINR trading range for the day is 111.19-112.27.
# GBP rose after China announced a fresh set of monetary stimulus
# Bank of England's Bailey says interest rates are gradually heading downwards
# The Confederation of British Industry's (CBI (NS:CBI)) monthly net balance of new orders fell to -35 in September 2024, the lowest in ten months.

# JPYINR trading range for the day is 57.54-58.42.
# JPY dropped after BOJ Governor said they have time to assess market and economic developments before adjusting monetary policy
# The au Jibun Bank Japan Services PMI rose to 53.9 in September from a final 53.7 in the prior month
# The au Jibun Bank Japan Manufacturing PMI declined to 49.6 in September from a final 49.8 in the previous month.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.