** NSDL data shows foreign investors sold a net $112.4mln worth of Indian bonds on Sept. ** As per NSDL data, foreign investors sold a net $373.6mln worth of Indian shares on Sept. ** SGX Nifty nearest-month futures up 1.0% at 17,056 note yield at 3.76%, India 10-yr bond yield at 7.39% ** Brent crude futures up 0.2% at $89.5 per barrel ** USD/INR NSE Sept futures closed on Wednesday at 82.2350 ** One-month non-deliverable rupee forward at 81.77 onshore one-month forward premium at 27.75 paise In the beginning rate at 83.33 Indian Rupees. Dollar to Indian Rupee forecast for November 2022. Investors now await the RBI's monetary policy committee's decision on Friday, with growing expectations of a 50 basis point hike due to the pressure on the rupee from large interest rate hikes in the United States. The USD to INR forecast at the end of the month 83.33, change for October 2.2. Asian shares were trading higher by as much as 1.2%, while currencies were mixed. ![]() Risk appetite recovered with the S&P 500 Index climbing 2% overnight. The 10-year Treasury yield dropped to near 3.70%. 10-year yield plunged 50 basis points, helping halt the selloff in the Treasury market. The dollar index fell the most in more than two years on Wednesday, as risk aversion eased. The BoE said it would buy as much government debt as needed after new UK Prime Minister Liz Truss's tax cutting plans triggered financial chaos. "The rupee will open higher but based on what has happened over the last week or so, the benefit of doubt will be more in favour of this just being a relief rally." The "obvious question" for the rupee is how sustainable "the big moves" seen across developed markets are likely to be, said a trader at a Mumbai-based bank. MUMBAI: The rupee plunged below the 82 mark for the first time in day trade before settling down by 40 paise at 81.93 against the US dollar on Wednesday due to heavy forex outflows amid strengthening US treasury yields.Register now for FREE unlimited access to Register On the domestic equity market front, the 30-share BSE Sensex was trading 373.37 points or 0.65 per cent lower at 56,734.15, while the broader NSE Nifty fell 108.20 points or 0.64 per cent to 16,899.20.įoreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 2,772.49 crore, as per exchange data. Meanwhile, investors are eying the RBI monetary policy meeting decision on Friday. Global oil benchmark Brent crude futures fell 1.33 per cent to USD 85.12 per barrel. ![]() The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.40 per cent to 114.55. "Expectations of aggressive rate hikes by the US Fed helped the dollar extend gains. On the domestic front, the focus will be on the RBI policy statement. The expectation is that the central bank could raise rates by 50bps and maintain a hawkish stance," Somaiya said. Traders also await the RBI's monetary policy decision and details of the government's borrowing plan for the rest of the fiscal.Īccording to Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services, the rupee continued to fall as the dollar rose sharply against its major crosses. ![]() In the overseas markets, the dollar index continued to remain elevated this Wednesday trade in Asia lifted by hawkish remarks from Federal Reserve officials. Currency converter to convert from Indian Rupee (INR) to United States Dollar (USD) including the latest exchange rates, a chart showing the exchange rate history for the last 120-days and information about the currencies. The offshore Chinese yuan weakened by 0.90 per cent, while Singapore Dollar weakened by 0.48%, while the Korean Won weakened by 0.83% and were the worst performers amongst Asian peers. "However, the fall was less than at its Asian peers as the Reserve Bank of India intervened in the market today," Iyer said. The Indian rupee hit a fresh record low against the dollar on Wednesday weighed down by a rise in US treasury yields and the dollar, Sriram Iyer, Senior Research Analyst at Reliance Securities. Moreover, a negative trend in domestic equities and a stronger dollar in overseas markets sapped investor appetite, forex traders said.Īt the interbank foreign exchange, the rupee opened at 81.90 and later fell to 82.02 to a dollar in day trade due to risk-averse sentiment among investors. The rupee finally settled at 81.93, its all-time closing low.
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