USD/INR (INR=X)
| Previous close | 81.4710 |
| Open | 81.4730 |
| Bid | 81.3500 |
| Day's range | 81.1420 - 81.7100 |
| 52-week range | 73.6975 - 82.1130 |
| Ask | 81.3600 |
- Reuters
India's forex reserve adequacy considered while managing volatile rupee - RBI's Das
The Reserve Bank of India's interventions in the foreign exchange markets are to maintain macro economic stability and the adequacy of forex reserves is always kept in mind, Governor Shaktikanta Das said in a policy speech on Friday. The rupee is a free-floating currency, with a market-driven exchange rate, the governor said, adding that the RBI did not have a fixed exchange rate in mind and intervened only to curb excess volatility. "The aspect of adequacy of forex reserves is always kept in mind," Das added.
- Reuters
Rupee seen higher on current account deficit surprise, dollar retreat
The Indian rupee is expected to open higher against the U.S. dollar on Friday, after the country reported a lower-than-expected current account deficit for the June quarter. The dollar index pulling back further from multi-year highs will likely be an additional boost for the rupee, traders said. India posted a CAD of $23.9 billion in the April-June period, wider than $13.4 billion in the preceding quarter but lower than $30.5 billion that economists were expecting.
- Reuters
Indian rupee may sink to 82.50 on towering dollar, funding gap - IDFC
The Indian rupee could decline to 82.50 against the dollar by March, driven by the greenback's surge and the country's balance of payment deficit, IDFC First Bank said in a research note. The dollar's rally accelerated after the U.S. Federal Reserve last week raised rates by another 75 basis points and forecast more large-sized hikes to control inflation. "Looking ahead, we believe the dollar strength will endure," Gaura Sen Gupta, economist at IDFC First Bank, said.
