12-05-2022 03:08 PM | Source: Reuters
Indian rupee slips to 81.75 on stop losses, possible dollar outflows
The Indian rupee extended losses against the U.S. currency on Monday on likely stop losses and dollar outflows, traders said.
The rupee was down 0.5% to the dollar at 81.7500, a rank underperformer among Asian peers. The offshore Chinese yuan was up 0.9%, leading Asian currencies higher.
The inability of the pair (USD/INR) to move below 81 last week in the face of positive news is probably leading to interbank reconsidering short rupee positions, a trader said.
There is talk of an MSCI rebalancing-related dollar outflow but we have doubts on how likely that is, another trader said.
Latest News
SAIL inks pact with Administrative Staff College of ...
NSE clocks 57 pc surge in net profit at Rs 3,137 cro...
Sell Johnson Controls-Hitachi Air Conditioning Ltd ...
Kartik Aaryan mobbed by fans at Mumbai?s Gaiety Gala...
Sarbananda Sonowal inaugurates key infra projects to...
B?town divas Kriti Sanon, Dhanashree Verma spotted a...
Kartik Aryan spotted in Mumbai
Rollover Analysis Report - November-2024 by Religare...
Neutral TVS Motor Company Ltd For Target Rs.2,610 By...
Buy SBI Life Insurance Ltd For Target Rs.2,100 By Mo...