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Published on 12/04/2021 3:12:15 PM | Source: Angel Broking Ltd

Indian Rupee is weakening on intensifying concerns over the economic impact By Heena Naik, Angel Broking

Posted in Currency Report| #Expert Views #Currency Tips #Angel Broking Ltd

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Below are Views On Indian Rupee is weakening on intensifying concerns over the economic impact By Heena Naik, Research Analyst - Currency, Angel Broking Ltd

* Indian Rupee is weakening on intensifying concerns over the economic impact of the latest surge in coronavirus infections. Apparently, the weekend witnessed another record jump in infections which could bring both the rupee and equities under pressure.

 

* Heightened risk and uncertainty sparked by the COVID-19 pandemic has prompted investors to rush to gold as safe haven as they infused over Rs 6,900 crore in gold exchange-traded funds (ETFs) in 2020-21, more than four times from the preceding fiscal.

 

* Indian government may hike foreign direct investment (FDI) limit in the pension sector to 74 percent and a Bill in this regard is expected to come in the next Parliament session.

 

* India’s forex reserves declined by $2.415 billion to stand at $576.869 billion in the week ended April 2.

 

* Fitch Solutions sees RBI keeping benchmark interest rates unchanged during the fiscal to March 2022 following its decision to buy Rs 1 lakh crore of government bonds.

 

* US Dollar Index is trading lower owing to decline in treasury yields. Both the greenback and bond yields are taking something of a breather after scaling multi-month peaks powered by bets that an accelerating U.S. recovery from the pandemic will lift inflation faster than Federal Reserve policymakers anticipate.

 

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