understands that your privacy is important to you and we are committed for being transparent about the technologies we use. Check Business Breaking News Live on Zee Business Twitter and Facebook. Get Latest Business News, Stock Market Updates and Videos Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. "In a fundamental sense, the movements of the rupee reflect the resilience of the Indian economy," as per RBI Governor. The depreciation and the volatility of the rupee in the current phase of multiple shocks is far lower than during the global financial crisis and the taper tantrum, Das said. However, a smaller CAD and favourable growth differential will lend some support to INR.” Gupta noted.Īlso Read: Rupee least volatile among Asian currencies, reflects resilience of economy: Shaktikanta DasĮarlier in February, the Reserve Bank of India Governor Shaktikanta Das had said that the “rupee has remained one of the least volatile Asian currencies in 2022 as well as 2023 so far.” “On a quarterly basis, we see USD/INR inching towards 82.5/$ in Q1, 83/$ in Q2 as the Fed rate hikes are materialised, and also see the rupee inching closer to the 84/$ mark, by the end of FY24. She also estimates that the FPI flows may remain muted in FY24, led by the elevated Fed rates and China opening up and this will have a negative impact on the rupee. Similarly, the economist expects CAD to be in the range of 3-3.5 per cent in the current financial year and this will likely narrow to 2.5-3 per cent of GDP in FY24, which would provide some comfort to Indian Rupee at the margin.Īlso Read: Pakistan's rupee continues speedy crash against US dollar, suffers another big fall Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies)Ĭalendars and Economy: 'Actual' numbers are added to the table after economic reports are released.With the Fed widely accepted to hike rates by another 50 basis points (bps) in the next two meetings, the gap between US and India policy rates may narrow to a record low of 125 bps, she added. Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.Ĭryptocurrencies: Cryptocurrency quotes are updated in real-time.
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