Home
News
默认头像

Indian Rupee Off 1-1/2-month Low Against U.S. Dollar

2024-06-07MyfxbookMyfxbook
The Indian rupee recovered against the U.S. dollar in evening deals on Monday as the Reserve Bank of India intervened in the forex market to defend the currency.
Indian Rupee Off 1-1/2-month Low Against U.S. Dollar

(RTTNews) - The Indian rupee recovered against the U.S. dollar in evening deals on Monday as the Reserve Bank of India intervened in the forex market to defend the currency.

Hawkish remarks from Federal Reserve Chair Jerome Powell lifted the dollar index to a 20-year high, weighing on the rupee.

The central bank is required to maintain a restrictive policy stance for some time to restore price stability, Powell said during the Jackson Hole speech on Friday.

The Indian rupee was trading at 79.93 against the greenback, after falling to a 1-1/2-month low of 80.13 in the morning session. The pair had closed Friday's deals at 79.96.

Disclaimers

The article is sourced from Myfxbook with the original source credited. The views expressed herein are not affiliated with FXOR; readers are encouraged to approach the content rationally. Copyright belongs to the original author. If unintentional infringement upon media or personal intellectual property rights has occurred, please contact us, and we will promptly remove the content. FXOR merely provides information storage services. The article is compiled and released by FXOR; reprints must indicate the original source.

Myfxbook Enter the brand column

Hottest

About 1 Year Ago

European stocks closed lower on Thursday on concerns the Federal Reserve might not reduce interest rates more than one time this year despite soft consumer price and producer price inflation data.

About 1 Year Ago

John Wiley & Sons, Inc. (WLY) reported Thursday net income for the first quarter of $25.27 million or $0.46 per share, sharply lower than $68.34 million or $1.22 per share in the prior-year quarter.

About 1 Year Ago

Asian stocks rose broadly on Thursday as soft U.S. inflation data helped keep the door open for a Federal Reserve rate cut in September.

About 1 Year Ago

While announcing its widely expected decision to leave interest rates unchanged on Wednesday, the Federal Reserve also revealed officials now expect only one interest rate cut this year. In support of its goals of

About 1 Year Ago

Asian stocks drifted lower on Wednesday as investors awaited key U.S. inflation data as well as a Federal Reserve policy decision later in the day for additional clues on the outlook for interest rates.

home

Home

home

Brokers

home

News

home

Expo

home

Mine