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    Vikshita Vitthal Gujaran in News

    14-Oct-2022 05:32 AM


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    Rupee Gains To 82.23 As Dollar Takes A Breather, But A Volatile Session Expected

    The rupee gained slightly on positive domestic equities.
    The rupee gained early on Friday as the dollar took a breather after a volatile overnight session as traders were straddled between red-hot US inflation data pointed to more aggressive interest rate hikes and a buying sentiment triggered by oversold stocks and oversold currencies.
    Reuters reported that the USD/INR 1-month non-deliverable forward jumped to 83 initially, but similar to the dollar index, retreated to near 82.50.
    "Asian markets will probably play catch-up in early trading today, but after that, they might do better to take a more cautious stance ahead of the weekend," said Robert Carnell, Regional Head of Research for Asia-Pacific at ING.
    A fall from 6 per cent to 4 per cent won't be enough.

    Source - NDTV
    #rupee #dollar