On Tuesday, the Indian rupee hit a record low, under pressure from high demand for the dollar. This happened against the background of the expiration of positions in the market of non-deliverable forward contracts (NDF). However, the likely interventions of the Reserve Bank of India (RBI) helped to contain more significant losses. The exchange rate of the rupee dropped to 86.595 per US dollar, which is slightly lower than the previous historical low of 86.5825, recorded a day earlier. At the same time, the dollar index strengthened by 0.1%, reaching 109.6, which is close to its two-year high. Despite this, Asian currencies showed generally positive dynamics during the day. According to traders, the Reserve Bank of India actively sold dollars before the opening of the local spot market to compensate for the noticeable demand for the US currency. This demand was caused by the strengthening of positions in the NDF market. It is assumed that the rupee may continue to fall in the coming weeks. This is due to both the strengthening of the dollar and the continued outflow of capital from the country. In January alone, foreign investors withdrew more than $4 billion from the Indian stock and bond market.
RÁPIDOS ENLACES
Contáctenos 
