🧵 1. Despite strong dollar and high treasury yields, rupee gains strength on reports of RBI actions in non-deliverable forwards market. #finance
🧵 1. Despite strong dollar and high treasury yields, rupee gains strength on reports of RBI actions in non-deliverable forwards market. #finance
🧵 2. Softening crude oil prices and inflows in equity markets contribute to sharp gains in rupee. Forecast indicates the dollar may face hurdles.
🧵 3. Major countries show business activity slump in August, raising hopes of rate hike campaign ending. Disappointing economic data from China may lead to stimulus measures.
🧵 4. US manufacturing and non-farm payroll data suggests gradual cooling of labor market, easing pressure on inflation. Consumer confidence continues to decline.
🧵 5. Rupee expected to face hurdle near 83.00 level due to dollar correction, softening crude oil prices. Indian economic growth projected to accelerate. USDINR pair may appreciate towards 82.20 levels.
🧵 Read more at: https://www.financialexpress.com/market/cafeinvest/despite-a-strong-dollar-high-treasury-yields-rupee-clocks-gains-rupee-futures-to-trade-in-83-80-8350-band/3224809/