The Indian rupee is expected to open lower versus the dollar on Monday as protests in China against COVID restrictions dented demand for Asian currencies and shares.
The rupee is tipped to around 81.85 per U.S. dollar in early trades, against 81.6850 in the previous session.
After opening lower, the rupee should receive "decent" support at around the 81.90 levels, a trader at a Mumbai-based bank said.Apart from that, the rupee should be helped by the oil prices, the trader added. Brent crude declined more than 2% to below $82 per barrel, the lowest level since January. Chinese stock prices and U.S. equity futures declined alongside the yuan. Protests simmered in Shanghai early on Sunday as residents in several Chinese cities pushed back against COVID-19 curbs.To help the economy, the nation's central bank said on Friday that it would cut the reserve requirement ratio for banks by 25 basis points.
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.
INDIA RUPEE Rupee seen lower at open on yuan-led losses on Asian currenciesThe Indian rupee is expected to open lower versus the dollar on Monday as protests in China against COVID restrictions dented demand for Asian currencies and shares.
Read more »
INDIA RUPEE Rupee dips less than peers on support at 81.80-81.85/USDThe Indian rupee was marginally weaker against the U.S. currency on Monday, but did well relative to other Asian currencies, thanks to a near-term support level, traders said.
Read more »
INDIA Rupee, bond yields to stay rangebound in data-heavy weekThe Indian rupee and government bond yields are expected to continue to hold their narrow trading ranges this week, with investors bracing for a jump in volatility due to multiple economic data releases at home and in other major countries.
Read more »
USD/INR Price News: Indian Rupee struggles around 81.70 as softer oil jostles with risk-off moodUSD/INR Price News: Indian Rupee struggles around 81.70 as softer oil jostles with risk-off mood – by anilpanchal7 USDINR RiskAppetite Oil Coronavirus Currencies
Read more »
Indian police arrest suspect in Australia's Toyah Cordingley murder case | CNNIndian police have arrested a man in New Delhi in connection with the murder of an Australian woman found dead on a beach in 2018 -- ending a four-year international manhunt for her suspected killer.
Read more »
Indian Industry Heavyweights Mull Impact of Streamers on Theatrical Releases in Post-COVID EraLeading lights of the Indian entertainment industry discussed the impact of streaming platforms in the period after COVID-19 at a panel on the concluding day of the Film Bazaar market in Goa. Parti…
Read more »