Rupee flat as oil firms' dollar bids offset impact of rise in Asia FX
MUMBAI, Sept 16 (Reuters) -The Indian rupee was little changed on Monday, wedged between oil companies' dollar demand and a rise in its Asian peers on the back of heightened odds of a 50 basis point U.S.rate cut laterthis week.
The rupee INR=IN was at 83.8925 against the U.S. dollar as of 10:25 a.m. IST, barely changed from its close at 83.8875 on Friday.
The dollar index fell 0.2% to 100.8 on Monday while Asian currencies rose, with the Malaysian ringgit and Korean won up 0.8% each and leading gains.
Local oil companies have been "constant buyers (of dollars)" at sub 83.90 levels on the dollar-rupee pair, a foreign exchange trader at a state-run bank said.
Despite growing odds of a deeper rate cut by the Federal Reserve on Wednesday, the impact on the rupee is likely to remain muted as the Reserve Bank of India (RBI) is unlikely to allow sharp gains, the trader added.
Theodds of a 50 bpsrate reductionhave risen to 57%, up from 30% as of Sept. 6, according to CME's FedWatch tool.
The rupee has also not benefited from an improvement in portfolio inflows as the RBI likely stepped in to absorb dollar inflows over recent sessions, traders said.
Overseas investors have net bought Indian bonds and equities worth more than $6 billion in so far September, up from around $3 billion in August, according to stock depository data.
The local currency's muted price action "is largely due to the RBI's persistent intervention on the buying side, reflected in the build-up of reserves," Amit Pabari, managing director at FX advisory firm CR Forex, said.
India's foreign exchange reserves rose for a fourth straight week to hit a record high of $689.24 billion as of Sept. 6, according to central bank data.
Reporting by Jaspreet Kalra; Editing by Sonia Cheema
Eng oxirgi yangiliklar
Javobgarlikdan voz kechish: XM Group korxonalari har biri faqat ijro xizmatlarini koʻrsatadi va onlayn savdo platformamizdan foydalanish huquqini beradi, bu odamga veb-saytda yoki veb-sayt orqali mavjud boʻlgan kontentni koʻrish va/yoki undan foydalanishga ruxsat beradi hamda uni oʻzgartirishga moʻljallanmagan va uni oʻzgartirmaydi yoki kengaytirmaydi. Bunday kirish va foydalanish huquqi doimo quyidagilarga boʻysunadi: (i) Shartlar va qoidalar; (ii) Risklar haqida ogohlantirish; va (iii) Javobgarlikni toʻliq rad etish. Shuning uchun bunday kontent umumiy maʼlumot sifatida taqdim etiladi. Xususan, shuni esda tutingki, bizning onlayn savdo platformamiz mazmuni moliyaviy bozorlarda biror bitimni amalga oshirishga oid maslahat yoki taklif emas. Har qanday moliyaviy bozorda savdo qilish sizning kapitalingiz uchun jiddiy risk darajasini oʻz ichiga oladi.
Onlayn savdo platformamizda chop etilgan barcha materiallar faqat taʼlim/axborot maqsadlari uchun moʻljallangan va unda moliyaviy, investitsiya soligʻi yoki savdo maslahatlari va tavsiyalar; yoki bizning savdo narxlarimizning qaydlari; yoki har qanday moliyaviy vositalar bilan bitim tuzish maslahati yoki taklifi; yoki sizga kerak boʻlmagan moliyaviy reklama aksiyalari hisoblanmaydi
Har qanday uchinchi tomon kontenti, shuningdek XM tomonidan tayyorlangan kontent, masalan: fikrlar, yangiliklar, tadqiqotlar, tahlillar, narxlar va boshqa maʼlumotlar yoki bu veb-saytda joylashgan uchinchi tomon saytlariga havolalar umumiy bozor sharhi sifatida "boricha" taqdim etiladi va investitsiya maslahatini tashkil etmaydi. Har qanday kontent investitsiya tadqiqoti sifatida talqin qilinsa, siz bunday kontentni investitsiya tadqiqotlarining mustaqilligini ragʻbatlantirish uchun moʻljallangan qonun talablariga muvofiq moʻljallanmagan va tayyorlanmaganligini eʼtiborga olishingiz va qabul qilishingiz kerak, shuning uchun unga tegishli qonunlar va qoidalarga muvofiq marketing kommunikatsiyasi sifatida qaraladi. Mustaqil boʻlmagan investitsiya tadqiqoti va yuqoridagi maʼlumotlarga oid risk haqida ogohlantirishimizni oʻqib chiqqaningizga va tushunganingizga ishonch hosil qiling, unga bu yerdan kirish mumkin.
