Rupee to draw support from bets of large Fed rate cut, strong RBI stance

Quick Summary:

More data is on the way on Thursday with the ADP private payrolls numbers and the initial jobless claims print up for release.

Data related to the US labour market is drawing extra attention after Fed Chair Jerome Powell signalled that policymakers were increasingly worried about it.

The 1-month non-deliverable forward indicated that the rupee will open marginally higher to the US dollar from 83.9650 in the previous session.

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Category: BusinessFinance

Markets: India

Topics: Reserve Bank of India Fed rates US fed rates Rupee RBI Indian rupee

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-05 @ 10:03:43 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 371 words

Reading Time: 3 minutes read

Sentences: 18 lines

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Copyright Owner: © Business Standard

News ID: 22371923

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