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    QONEQT in India

    18-Nov-2022 05:08 AM


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    Rupee Nearly Flat In Early Trade, Risks Tilted In Favour Of The Dollar

    Rupee steady in early trade after weakening sharply on Thursday The rupee was steady on Friday after weakening sharply in the previous session, with risks tilted in favour of the dollar as Federal Reserve policymakers' comments this week shattered hopes for any moderating of the US central bank's ultra-aggressive interest rate hikes path.
    Bloomberg showed the rupee was last trading at 81.5963 per dollar in early trade, compared to its previous close of 81.6475.
    If the Fed keeps increasing at the current pace, "by the time they get the information that they've been successful in slowing the economy and slowing inflation, it might be too late," Ellen Hazen, Chief Market Strategist at FL Putnam Investment Management, said on Bloomberg Television. "
    It's just too soon to know exactly how this is going to play through the economy, and that's the biggest risk."
    While the dollar steadied on Friday after gains in the previous session, it was headed for its best week in a month.
    Source: NDTV
    #Rupee