The Indian rupee is likely to rise further this week on the back of a struggling U.S. dollar but traders were inclined to be wary of possible dollar-buying intervention by the Reserve Bank of India (RBI) that could limit sharp gains.
The rupee climbed 1.7% to 81.3250 per dollar last week, tracking a broad decline in the dollar index . The local currency is expected to trade between 80.80 to 81.70 this week.
There are a lot of positives for the rupee, including the Fed view, the broadly stable oil prices and the fall in Treasury yields, said Anil Bhansali, head of treasury at Finrex Treasury Advisors. Meanwhile, Indian government bond yields may inch higher after a decline in the previous week, as investor focus is expected to shift to worries over an announcement about elevated borrowing in the federal budget, due to be presented on Feb. 1.
Market participants have so far pegged gross borrowing above 15.50 trillion rupees for the next fiscal, and this may continue to put upward pressure in the run up to the budget. The yield is expected to move between 7.28%-7.35% during this week.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
India, UAE close to deal on renewable electricity grid link -Indian ministerIndia and the United Arab Emirates (UAE) are close to a 'major agreement' on a renewable energy interconnection between the two countries, India's Minister of Power and New and Renewable Energy said on Sunday.
Consulte Mais informação »
India, UAE close to deal on renewable electricity grid link, Indian minister saysIndia and the United Arab Emirates (UAE) are close to a 'major agreement' on a renewable energy interconnection between the two countries, India's Minister of Power and New and Renewable Energy said on Sunday.
Consulte Mais informação »
Indian army general says situation on border with China is 'unpredictable'The saber-rattling between communist China and India is rising due to a bitter territorial conflict that has remained unresolved for over 50 years.
Consulte Mais informação »
One dead, another hurt after accident near 47th Avenue and Indian School RoadOne person is dead after an accident Saturday morning near 47th Avenue and Indian School Road in west Phoenix.
Consulte Mais informação »
HDFC Bank, India's biggest private lender, says net profit jumps 18.5%HDFC Bank , India's largest private lender, on Saturday reported a 18.5% jump in net profit for the October-December quarter, aided by higher top-line and healthy loan growth.
Consulte Mais informação »
Google says India antitrust ruling to drive up costs for app developersAlphabet Inc's Google said on Friday that India's new antitrust order to change how the company markets its Android platform will drive up costs for app developers, equipment makers, and consequently, consumers.
Consulte Mais informação »