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Indian rupee
Trends
- 1
Bloomberg Originals has published a feature examining how India's retail day traders collectively lost billions of rupees in the country's fast-growing derivatives and intraday markets. The report looks at the scale of losses among small individual traders, who make up a large share of trading volume on Indian exchanges, and the forces behind their poor returns.
- 2Rupee hovers near 96 per dollar as RBI steps in▼Indian rupee pinned just shy of 96/USD as RBI intervention counters oil woes
The Indian rupee is trading just short of 96 against the US dollar, with the Reserve Bank of India intervening to limit the slide. Pressure on the currency is being driven largely by India's oil import costs, which have weighed on the balance of payments. The central bank's actions are keeping the rupee range-bound near record-low levels, and markets are watching how long the RBI can hold the line.
- 3Indian shares fall to near six-month low on oil price surge●Indian shares hit near six-month low as US-Iran deadlock lifts oil prices
Indian stock markets slid to their lowest levels in almost six months as a deadlock in US-Iran negotiations pushed oil prices higher. Rising crude costs weigh heavily on India, a major oil importer, feeding concerns about inflation, corporate margins and the wider economy. Traders are watching for any sign of progress in the talks, with energy stocks and the rupee also in focus.
- 4RBI suspected of propping up rupee as oil prices climb▼Indian central bank likely shielding rupee as US-Iran impasses lifts oil prices, traders say
Traders believe India's central bank, the Reserve Bank of India, is intervening in currency markets to support the rupee. Pressure on the currency has mounted after stalled US-Iran negotiations pushed oil prices higher, threatening to widen India's import bill. The bank has not commented on the suspected intervention, which is a routine part of its currency management.