The Indian rupee will look to rise further versus the U.S. currency on Thursday, helped by dollar inflows, while contending with mixed Asian currencies.
The non-deliverable forwards indicate the rupee will open at around 81.70-81.75 to the dollar compared with 81.76 in the previous session.
"Sizeable offers and the Reserve Bank of India not being there is making us hopeful of a breakdown ," a spot trader said. To maintain its momentum, the rupee will have to contend with tepid risk appetite and mixed Asian peers. Asian shares struggled for direction following overnight losses on the S&P 500 Index. The offshore Chinese yuan was little changed at 6.94 to the dollar, while the Korean won weakened.
The U.S. House of Representatives on Wednesday narrowly passed a bill to raise the government's $31.4 trillion debt ceiling that includes sweeping spending cuts over the next decade. The bill is unlikely to pass the Senate.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Vitalik Buterin and Indian yogi Sadhguru discuss tech, identity and moreAccording to Buterin, blockchain is inherently about fostering a more authentic and secure connection between humans to, “be able to trust each other more, to collaborate across larger distances.”
Read more »
Indian Ministers Slam German Magazine’s ‘Racist’ Train CartoonLawmakers in India have expressed fury at a cartoon in a German magazine. In it, a Chinese train is depicted as a modern bullet train while the Indian train is construed as crowded and old-fashioned with people on top of the carriages.
Read more »
A Dallas matchmaker on how her work compares to the Netflix hit, ‘Indian Matchmaking’You’ve seen Indian Matchmaking, but a Dallas-based matchmaker says the real thing can be very different from Netflix’s reality dating show. Read our conversation with Radha Patel from SingleToShaadi here:
Read more »
Grandmother warns Supreme Court not to upend law protecting American Indian foster careA woman who won custody of her grandchild involved in a pending Supreme Court case is warning the high court against finding a federal law unconstitutional, saying it would jeopardize American Indian families and their children.
Read more »
Shiba Inu (SHIB) Ecosystem Token Might Be Listed on Popular Indian ExchangeShiba Inu: Popular Indian exchange teases listing for this SHIB ecosystem token Bone BONE $BONE BoneArmy
Read more »