GulfBase Live Support
Leave a message and our representative will contact you soon
25/04/2015 01:55 AST
The Indian rupee has fallen ~2% against major global currencies.
This was triggered by a fall in local stock markets due to huge tax demand on foreign institutional investors.
The current sudden is fall overdone; the central bank will intervene to smooth out volatility.
The central bank continues to mop up forex reserves; the reserve position looks adequate.
The rupee is to be supported by an improved balance of payments; there will be downward pressure on it from dollar strength and REER overvaluation.
This week was a very bearish one for the Indian rupee (NYSEARCA:INR) as it fell ~2% week on week against major global currencies. Against the dollar, INR fell to its lowest level in 2015, closing the week at 63.4 INR/USD.
Seeking Alpha
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
US Dollar | 1.00 |
Saudi Riyal | 3.75 |
Derham Emirati | 3.67 |
Qatari Riyal | 3.65 |
Kuwaiti Dinar | 0.30 |
Bahraini Dinar | 0.38 |
Omani Riyal | 0.39 |
Euro | 0.81 |
British Pound | 0.71 |
Japanese Yen | 104.70 |
05/04/2018
Oman has the means to maintain its currency peg and has no plans to change it even though the decline in oil prices has hurt its finances, central bank Governor Tahir Al Amri said.
Oman’s g
Gulf News
02/04/2018
China’s yuan firmed against the dollar on Friday and is set to post its biggest quarterly gain in a decade, as the country attracts capital inflows and US trade frictions bolstered expectations of a
Gulf News
01/04/2018
The US dollar’s share of currency reserves reported to the International Monetary Fund declined in the final quarter of 2017 to a four-year low, as other currencies’ shares of reserves grew, data rel
Gulf News
29/03/2018
The US Dollar Index, a measure of the value of the US dollar against a basket of currencies, teetered and dropped to quarterly lows in March, which also happen to be the lowest the index has been sin
The National
29/03/2018
Turkey’s lira weakened beyond the psychologically important level of 4.0 to the US dollar yesterday, bringing it close to a record low, as concerns about double-digit inflation, and politics, continu
Gulf Times