inr-exchange-rates - INR

Indian Rupee plunges against the US Dollar amid deteriorating risk sentiment. The USD/INR exchange rate settled 32 paise higher at 70.85 on Wednesday close. The Rupee was seen at 70.66 recovering some of the early losses after the London opening session. As expected the large foreign fund’s investment in the Indian stock market had only a transitory effect on the Rupee currency rate.

Foreign fund inflow showed investors continuing to pour money into equities. The foreign institutional investors bought Rs 1,011.49 crore on Wednesday.

The benchmark equity index NIFTY 50 settled at 11966 and was seen quoted higher at 12021 during the Asia trading hours. The Indian 10-year government bond yield has registered a modest 0.12% gain being quoted around 6.494 percent.

The dollar index, which gauges the greenback’s strength against a basket of major currencies closed the previous trading day near the session high at 97.96.

Given the uncertainty over the Indian economic outlook, home sales have been falling 24% in the third quarter of 2019. The slowdown in the housing market hasn’t benefited from the recently announced benefits for new homebuyers.

When it comes to taking easing measures the RBI is among the most aggressive among Asia’s central banks. However, despite several interest rate cuts Indian economy is still struggling to show signs of growth.

On other news, the meeting between the US President Donald Trump and China President Xi Jinping could be postponed until December some anonymous sources told Reuters. The long awaited phase one deal of the trade agreement between the world’s two largest economies is still on the table as the negotiation over the trade deal terms and the location to sign the agreement continues. is a news site only and not a currency trading platform. is a site operated by TransferWise Inc. (“We”, “Us”), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.