Rupee weakness to persist on rally in dollar, US yields
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 13 2024
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Should l Buy ?
Source: Reuters
Indian Rupee Outlook: The Indian rupee is expected to open lower against the U.S. dollar, potentially reaching a new all-time low due to rising dollar strength and U.S. Treasury yields, with the one-month non-deliverable forward indicating an opening at 84.87-84.88.
Reserve Bank of India Actions: To stabilize the rupee, the Reserve Bank of India is actively selling dollars in the spot market and conducting buy/sell swaps, although these interventions have distorted dollar/rupee forward premiums.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
