The Indian rupee is expected to remain little changed against the dollar amid a Chinese yuan-led decline in Asian currencies after the U.S. banned passenger flights from China, further hurting the relationship between the two major economies.
The rupee will likely be quoted at 75.45-75.55 in early trades compared with 75.46 at 2.00 p.m. yesterday.
Asian currencies were mostly lower Thursday. The onshore yuan declined 0.2% to 7.1254 after the U.S. banned Chinese passenger airlines from flying into the country beginning Jun. 16, a development that is likely to further worsen the already strained relationship between the two countries. Washington’s move comes in response to Beijing not allowing U.S. carriers to resume flights into China.
Regional risk appetite was mixed amid the fall in the yuan and upbeat Wall Street cues.
10 Jul 2020 04:28 PM
Indian shares closed lower on Friday as record daily increases of domestic coronavirus cases threatened to disrupt an economic recovery, with financial stocks taking the brunt of the losses.
10 Jul 2020 02:34 PM
The Indian rupee logged its worst week against the dollar in 14 weeks
10 Jul 2020 02:07 PM
Sterling traded slightly lower versus the U.S. dollar and was unmoved against the euro on Friday
10 Jul 2020 11:51 AM
Indian shares fell on Friday as a relentless surge in domestic coronavirus cases threatened to disrupt an economic recovery, although gains in pharmaceuticals and heavyweight Reliance Industries helped limit losses.
10 Jul 2020 11:15 AM
The yuan pulled back from a four-month high against the dollar on Friday as China's stock market rally ran out of steam
10 Jul 2020 10:49 AM
Gold was set for a fifth straight weekly gain on Friday as worries over a spike in U.S. coronavirus cases kept the safe-haven metal near the technical $1,800-per-ounce threshold.