Buy USDINR; target of : 82.50 : August 01, 2023: ICICI Direct
ICICI Direct, Rupee depreciated yesterday amid firm dollar and surge in crude oil prices.
Buy EURINR; target of : 90.90 : July 31, 2023: ICICI Direct
ICICI Direct, Euro recovered from its 3-week low and closed above the 1.10 mark on Friday amid softer dollar.
Buy EURINR; target of : 91.25 : July 27, 2023: ICICI Direct
ICICI Direct, Euro is likely to trade on bullish bias amid softness in dollar. Further expectation of 25 bps hike in today’s policy meeting could support the Euro to rise back towards 1.1120.
Buy USDINR; target of : 82.00 : July 26, 2023: ICICI Direct
ICICI Direct, Rupee depreciated for the first time in last three days ahead of the key FOMC meeting.
Internationalising INR: Local currency swap deals with trade partners can provide a boost
Capital account convertibility is neither a necessary nor a sufficient condition for the success of a country’s currency internationalisation process
Buy USDINR; target of : 82.15 : July 24, 2023: ICICI Direct
ICICI Direct, US$INR is expected to consolidate near the 82.00 level ahead of the key FOMC meeting due this week.
Buy USDINR; target of : 82.25 : July 21, 2023: ICICI Direct
ICICI Direct, Rupee is expected to depreciate amid rebound in the dollar. The strong labor market in the US has raised the bets that the Federal Reserve will keep interest rates higher for longer to rein inflation.
Buy EURINR; target of : 92.40 : July 20, 2023: ICICI Direct
ICICI Direct, Euro is likely to recover its yesterday’s losses amid weakness in dollar. Further sticky inflation numbers could force the ECB to stick to its hawkish monetary policy.
India-UAE Currency Deal: Internationalising the rupee, one step at a time
India’s policymakers are positioning the INR as an alternative currency for international transactions. They are using two strategies to further this cause
Buy EURINR; target of : 92.50 : July 19, 2023: ICICI Direct
ICICI Direct, Euro is likely to hold its ground against the dollar ahead of the key CPI numbers.
Internationalising the INR will be a gradual process
One major precondition for internationalising a currency is that the economy should be international as well. India has made great progress since the opening of the economy in 1991
Sell USDINR; target of : 82.40 : July 11, 2023: ICICI Direct
ICICI Direct, Rupee is likely to appreciate today amid weakness in dollar as the weaker US economic numbers has raised the doubts on further tightening.
Bastille Day welcome for PM Modi as France courts India
President Emmanuel Macron's red carpet welcome comes weeks after Modi was given the rare honour of a White House state dinner in Washington -- a city he was once banned from visiting.
Sell USDINR; target of : 82.50 : July 10, 2023: ICICI Direct
ICICI Direct, Rupee is expected to appreciate today amid weakness in dollar as the softness in June US Job numbers has raised the doubts on further tightening of the interest rates trajectory.
Convertibility needs to precede the internationalisation of the rupee
There are other important prerequisites for achieving internationalisation — the existence of deep and well-functioning domestic financial markets, a trusted legal framework for contract enforcement, low inflation, and stable and predictable macroeconomic policies
Buy USDINR; target of : 82.85 : July 07, 2023: ICICI Direct
ICICI Direct, Rupee is expected to depreciate again today amid strong dollar as the forecast of better job numbers in US would support the hawkish Fed.
Buy USDINR; target of : 82.50 : July 06, 2023: ICICI Direct
ICICI Direct, Rupee is likely to depreciate today amid strong dollar as the hawkish FOMC minutes reinforced the market expectations of another interest rate hike at the July meeting.
Buy GBPINR; target of : 104.55 : July 05, 2023: ICICI Direct
ICICI Direct, Pound is likely to move higher towards 1.2750 amid a weak dollar and forecast of better service PMI numbers.
Yen firms amid intervention chatter, trading subdued on US holiday
The greenback was down 0.18% at 1104 GMT to 144.44 yen, after rising 0.27% on Monday.
Buy USDINR; target of : 82.30 : June 30, 2023: ICICI Direct
ICICI Direct, The US dollar index climbed to a two-week high on Thursday as the US economy grew by an annualized 2% in Q1 2023, well above 1.3% in the second estimate and forecasts of 1.4%.
Dollar index hits two-week high after data; yen remains soft
Weekly initial jobless claims decreased 26,000 to a seasonally adjusted 239,000, the largest drop in 20 months and below the expectation of 265,000 by economists polled from Reuters.
Buy EURINR; target of : 90.20 : June 28, 2023: ICICI Direct
ICICI Direct, The Euro edged higher by 0.50% on Tuesday amid weak US dollar and rise in German 10 year bond yields.
Sell GBPINR; target of : 103.95 : June 26, 2023: ICICI Direct
ICICI Direct, The pound dropped by almost 0.30% on Friday on rising expectations the UK economy could slip into recession after the Bank of England delivered an outsized rate hike in response to persistent inflation.
Dollar gets a safety bid as data spurs growth worries
U.S. business activity fell to a three-month low in June as services growth eased for the first time this year and the contraction in the manufacturing sector deepened, closely watched survey data out Friday showed.
