Higher US yields to squeeze rupee, while RBI protects 84/USD:
The Indian rupee will be pressured by the rise in U.S. Treasury yields and the dollar on Thursday ...
reuters.com/markets/currencies/higher-us-yields-squeeze-rupee-while-rbi-protects-84usd-2024-10-10/
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Rupee Holds Steady Amid Rising US YieldsRupee hovers near 84/USD as RBI intervenes and US 10-year yields reach highest since July 2024.
Key FactsOct 10, 2024 · Reading time: ~30 sec.
Summary created with AI assistance · Source: reuters.com
Summary created with AI assistance · Source: reuters.com
- The Indian rupee is pressured by higher U.S. Treasury yields and a stronger dollar.
- The Reserve Bank of India has so far prevented the rupee from falling beyond 84 per dollar.
- Markets now anticipate a smaller Federal Reserve rate cut in November following strong U.S. jobs data.
- Foreign investors sold $641 million in Indian shares but purchased $70 million in bonds on October 8.
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Higher US yields to squeeze rupee, while RBI protects 84/USD: The Indian rupee will be pressured by the rise in U.S. Treasury yields and the dollar on Thursday ...
reuters.com/markets/currencies/higher-us-yields-squeeze-rupee-while-rbi-protects-84usd-2024-10-10/
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