Currency

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.