Forex Market News

The Indian Rupee Appreciated

The Indian Rupee appreciated marginally by 0.08 percent in the last week owing to weak US Dollar Index in the overseas market which resulted into selling of US Dollar by exporters and banks. Investors fear that Trump’s failure to repeal Obamacare may mean his progrowth tax reform policies would hit a roadblock.
Moreover, the FBI head confirmed on investigating Russia’s involvement in US Presidential Elections of 2016. On the domestic front, markets are still rejoicing the massive win by BJP in the recent state elections which have infused positive sentiments in the markets. This has resulted into huge inflows. Today, USDINR spot is likely to appreciate following weak trading in Asian market equities.
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