The Indian rupee made slim gains against the U.S. dollar on Wednesday, as the greenback slipped ahead of a crucial U.S. inflation report that could influence the Federal Reserve's next policy move.
The rupee was trading at 82.0750 per dollar by 10:44 a.m. IST compared with 82.1250 in the previous session.
That would be down from the 0.5% increase in February, but well above the pace required for bringing annual inflation to Fed's 2% target. Headline inflation is expected to rise 0.2%., investors have increased their bets of a 25 bps points hike by the Fed at the May meeting to 70%. "A soft inflation reading has been priced in by the markets, but in case of slightly contrary data, there could be a major reaction".
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
INDIA RUPEE Rupee to inch up ahead of key US inflation dataThe Indian rupee was likely to open marginally higher against the dollar on Wednesday ahead of the U.S. inflation data, which analysts say will influence the Federal Reserve's rate decision at its next meeting.
Read more »
India rupee weaker as Asian foreign exchange on the back foot on Fed rate-hike betsThe Indian rupee weakened against the dollar on Monday, along with most other Asian emerging market currencies after recent U.S. data bolstered bets of another Federal Reserve rate hike.
Read more »
Rupee seen flat near 82/USD; U.S. yields, importers hedging in focusThe Indian rupee is likely to open little changed to the U.S. currency on Tuesday, with traders assessing the outlook for U.S. yields and keeping a watch on importers' demand for the greenback.
Read more »
Posts share 'terror groups' list that mistakenly included Indian political partyA graphic from a global think tank's report on terrorist attacks that mistakenly lists an Indian political party as one of the '20 deadliest terror groups of 2022' has been misleadingly shared by multiple social media users in the country. The Global Terrorism Index produced by the Institute of Economics and Peace incorrectly included the Communist Party of India in its ranking instead of the similarly named Communist Party of India (Maoist), which is on the Indian government's list of banned terrorist organisations. The think tank said in a tweet that it corrected the error as soon as it was made aware of the mistake.
Read more »
Auto, realty stocks help Indian shares ahead of Q4 earningsIndian shares settled marginally higher on Monday, helped by strong quarterly business updates from auto and realty companies, but rising odds of a U.S. Federal Reserve rate hike in May capped gains.
Read more »
Financials aid rise in Indian shares ahead of quarterly earningsIndian shares advanced on Tuesday, aided by financials stocks on strong quarterly updates, ahead of corporate earnings for the March quarter.
Read more »