Indian rupee is expected to open little changed at 68.72-68.77 against the U.S. currency amid the dollar index’s gains and greenback sales by exporters.
The dollar index edged higher on Tuesday, heading for the eighth day of advance. The gauge is trading at its highest in two months ahead of the Federal Reserve policy review. The two-day Fed meeting gets underway later in the day and the decision is due Wednesday, after Indian markets close.
Meanwhile, expectations surrounding the Fed outcome have stabilized. Fed fund futures indicate an about 75% chance of a 25-basis-points rate cut and a 25% likelihood of a 50-basis-points rate cut.
The Chinese yuan was up 0.1% at 6.8876 after falling to over three-week lows yesterday. The U.S.-China trade talks are beginning in Shanghai on Tuesday, the first face-to-face meeting following the temporary trade truce at G20 last month.
13 Jul 2020 04:57 PM
Indian shares ended higher on Monday, led by a rally in Reliance Industries, ahead of June's inflation data which investors bet would lead to further interest rate cuts by the central bank.
13 Jul 2020 02:43 PM
The Indian rupee was little changed against the greenback, amid focus on decline in the dollar index
13 Jul 2020 11:45 AM
Indian shares climbed on Monday, as investors bet June inflation data later in the day would lead to further interest rate cuts by the country's central bank, while Reliance Industries gained for a third session.
13 Jul 2020 11:15 AM
The yuan hovered around the key 7 per dollar threshold on Monday, ahead of economic data this week
13 Jul 2020 10:45 AM
Gold prices rose on Monday, holding ground above the key $1,800/oz level, as a weaker dollar and worries over surging COVID-19 cases around the globe kept the safe-haven metal underpinned.
13 Jul 2020 10:31 AM
The Indian rupee was at 75.1275/75.1375 to the dollar against 75.2000/75.2100 in the previous session