FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post


ADVERTISE
Poll

EXCHANGE RATE PREDICTION: 2022

 
 
 
 

View results

ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» Heavy losses at CPC whilst LIOC records profit
by ChooBoy Today at 1:32 pm

» Misuse of government property by Royal Colombo Golf Club
by ChooBoy Yesterday at 12:52 pm

» SL Cauvery and Mannar Basins Petroleum Resource Data Revealed
by samaritan Yesterday at 12:00 pm

» Expolanka to continue its winning streak
by samaritan Yesterday at 10:39 am

» Container shipping stocks routed
by target1 Fri Jun 24, 2022 1:32 pm

» Supply Chain Latest: Ocean Freight Rates Are Falling
by target1 Fri Jun 24, 2022 1:26 pm

» Turkish ship leaves Ukraine's Mariupol after grain talks with Moscow
by target1 Fri Jun 24, 2022 11:29 am

» This week's CBOT corn, soy freefalls hard to match in recent years
by target1 Fri Jun 24, 2022 9:57 am

» Positive news to boost market sentiment
by samaritan Fri Jun 24, 2022 9:52 am

» Maharaja at IMF meeting
by Maharaja Thu Jun 23, 2022 10:35 pm

» Why no power cuts in certain areas of Colombo?
by samaritan Thu Jun 23, 2022 5:44 pm

» India assures fullest support to Sri Lanka as a close friend
by samaritan Thu Jun 23, 2022 5:17 pm

» SINS, SAMP, COMB, PARQ, ALUMEX and AEL - are they good shares to start collecting now?
by surfjj Thu Jun 23, 2022 4:25 pm

» Learn how a fixed exchange rate system can be used to reduce inflation.
by target1 Thu Jun 23, 2022 3:35 pm

» Debt Crisis: Sri Lanka Vs Argentine
by CHRONICLE™ Thu Jun 23, 2022 8:17 am

» Sri Lanka in state of panic 1 month after sovereign default
by reyaz Tue Jun 21, 2022 5:23 pm

» Financial stability - we are at the crossroads.
by sheildskye Tue Jun 21, 2022 2:17 pm

» Shrinkflation: Is it ethical?
by sheildskye Tue Jun 21, 2022 2:05 pm

» Banking bullish billionaire Ishara expands footprint
by samaritan Tue Jun 21, 2022 10:58 am

» SL hopes to finalize a staff level program with IMF soon-RW
by samaritan Tue Jun 21, 2022 9:48 am

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » EXPERT CHRONICLE™ » Indian rupee today surges to over 2-month high against US dollar

Indian rupee today surges to over 2-month high against US dollar

Go down  Message [Page 1 of 1]

target1

avatar
Manager - Equity Analytics
Manager - Equity Analytics

Indian rupee today surges to over 2-month high against US dollar 2021-07-20T090236Z_1_LYNXMPEH6J0EM_RTROPTP_3_BUSINESS-CURRENCY_1630299024042_1630299035237

The Indian rupee today surged against the US dollar amid broad weakness in the greenback and a rally in domestic equity markets. The rupee rose to two-month high of 73.37 per US dollar in early trade as compared to previous close of 73.69. Most Asian emerging currencies firmed modestly today, as the dollar nursed losses after US Federal Reserve Chairman Jerome Powell on Friday indicated that the central bank would be cautious in winding back monetary policy.

On Friday, the rupee surged 53 paise to close at 73.69 against the US dollar taking cues from bullish equities.

“The rupee-dollar likely to trade in a wide range of 73.30-74.00 zone as nationalized banks could regain their position as the Jackson Hole event is now behind us. Broadly, any appreciating move is not favorable for the exporters & hence RBI could try to keep it on a depreciating mode by building their USD reserve kitty. On another side, the given move is an opportunity for the importers to cover every dip close to the 73.30 mark. The volatility is likely to remain high and there are higher chances that the USD-INR pair could recover back to 74-74.10 levels," said CR Forex Advisors in a note.

The US dollar today hovered near multi-week lows in the wake of Fed Chair Jerome Powell laying out a slower-than-expected path to rate hikes, as traders' focus shifted to U.S. jobs figures due on Friday for clues on a tapering timeline.

The benchmark 10-year bond yield eased slightly to 6.24% compared to its close of 6.25%.

On the domestic equity market front, BSE Sensex was trading over 500 points higher while Nifty advanced nearly 1%. Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth ₹778.75 crore, as per exchange data. (With Agency Inputs)

https://www.livemint.com/market/stock-market-news/indian-rupee-today-surges-to-over-2-month-high-against-us-dollar-11630298999211.html

Share this post on: redditgoogle

No Comment.

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum