Rupee dips to 86.36 per US dollar, weakest in month
The rupee dropped to 86.36 per US dollar on Monday, its weakest in nearly a month, as banks snapped up dollars and most Asian currencies lost ground.
It settled a bit stronger at 86.27, with everyone watching for updates from upcoming US trade talks.
Indian stocks edge up despite rupee dip
If you're following markets or planning travel or online shopping in dollars, currency swings can hit your wallet.
Even though the rupee dipped, Indian stocks edged up and bond yields stayed steady.
Forward premiums jumped too—meaning banks and companies are hedging more against future risks.
Traders are playing it safe ahead of key US trade negotiations
Banks bought more dollars for corporate deals and arbitrage, pushing the rupee down further as other Asian currencies also slipped.
Traders are playing it safe ahead of key US trade negotiations; as Amit Pabari from CR Forex put it, delays could make things tougher for the rupee, but a good deal might help stabilize things soon.