Indian Rupee edged lower ending the previous week on a negative tone. The key Union Budget release in the second-largest economy in the Asia-Pacific region will keep Rupee on the edge. At the end of the previous trading week, the value of Rupee depreciated by 24 paise settling down -0.35% at 71.24 against the US dollar. However, the USD/INR exchange rate was seen trading within a trading range of 70.96 and 71.39.

Looking forward over the economic calendar, several risk events will keep Rupee on the edge. First on the calendar is the Fed interest rate decision. According to most Wall Street economists the Fed will keep its accommodative stance through 2020.

Meanwhile, India’s Union Budget for the current fiscal year will be announced by finance minister Nirmala Sitharaman. The Prime Minister Narendra Modi has pushed some economic measures to tackle down the economic slowdown, higher inflation and lower tax revenue. The upcoming budget will reveal set fresh of new measures tackling these concerns.

The dollar index closed on a positive note for a third consecutive week settling up 0.20% at 97.88.

Elsewhere, foreign institutional investors (FIIS) were net buyers of shares in the local equity market worth Rs 659.11 crore; according to the National Stock Exchange of India data published at the end of Friday’s trading session. At the same time, Domestic Institutional Investors (DIIs) were net sellers of equities worth Rs 417.96 crore.

The domestic benchmark equity index NIFTY 50 surged to a new all-time high, but by the end of the week saw a mixed finish and settled down -0.64% at 12,248.25 on Friday. However, during early Asia trading hours on Monday, NIFTY 50 gaped down and was seen quoted at 12,202.10.

The Indian 10-year government bond yield was seen quoted at 6.57% in morning trade compared with its previous close of 6.58%.

Currently, at the interbank market, one US dollar buys 71.38 Rupees, up 0.19% as of 8:00 AM UTC. 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.