Rupee Opens Six Paise Higher at 85.58, Tracking Weak Dollar Index over US Fiscal Concerns

Rupee opens six paise higher at 85.58, tracking weak dollar index over US fiscal concerns

The struggle for US Dollar continued since Moody’s announced its downgrade of the US credit rating.

Rupee vs UD Dollar: Indian currency falls 15 paise to reach 86.10 against greenback

Mumbai: The rupee depreciated 15 paise to 86.10 against the American currency in early trade on Friday, as foreign institutional investors continued with their sell-off due to a narrowing bond yield differential. Forex traders said speculation of an RBI rate cut in the upcoming MPC meeting, fuelled by softening food and energy prices, is also weighing on short-term rupee sentiment, even though such a move may bolster growth in the longer-term. A…

Forex Market: Indian rupee trades in narrow range against US dollar | DH Latest News, DH NEWS, Latest News, NEWS, Business , Forex, indian rupees, Indian Rupee, Forex Foreign Exchang, Forex Market, US Dollar Index, Forex traders, US dollars, US dollar

Mumbai: The Indian rupee opened higher on Thursday, snapping a two-day fall. As per forex traders,  the fiscal deficit concerns in the US trigger more pressure for the Dollar index. At the interbank foreign exchange market, the rupee opened at 85.59, up by 5 paise against US dollar . On Wednesday, the rupee settled at 85.58 against theUS dollar. Also Read: Encounter breaks out in Jammu and Kashmir, four Jaish-e-Mohammed terrorists trapped  Meanw…

The US Dollar May Revisit Year-to-Date Lows

Currency pairs such as USD/CAD and USD/JPY continue to trend lower, approaching their year-to-date lows. The decline in the dollar is largely driven by growing investor concerns over the fiscal sustainability of the United States and uncertainty surrounding trade relations with key partners. Last week, Moody’s downgraded the US credit rating by another notch, citing increasing concerns about the country’s fiscal outlook. US national debt has sur…

Pakistan rupee depreciates to 17-month low against US dollar

Currency settles at 282.06 against greenback

Last week, a credit rating agency warned about the US debt crisis. Now the administration is preparing tax cuts.