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☆ Rupee likely to inch up on more dollar losses; eyes oil prices
▼ + stars: | 2023-11-20 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Nov 20 (Reuters) - The Indian rupee is likely to open slightly higher on Monday after the dollar declined to its lowest in over two months against a basket of major peers. Non-deliverable forwards indicate rupee will open at around 83.24-83.25 to the U.S. dollar, compared with 83.27 in the previous session. The dollar index fell 1.8% last week, the worst performance since mid-July. Asian currencies were mostly higher"It looks like it is setting up to be like last week.. rupee will do much in the face of the dollar's struggles," a forex trader at a bank said. "And let's say, for whatever reason, the dollar turns later this week, then too the rupee will not budge.

Persons: Brent, Mary Daly, Susan Collins, Nimesh Vora, Dhanya Ann Thoppil Organizations: U.S ., Federal Reserve, Fed, San Francisco Fed, Boston, ANZ, Brent, Thomson Locations: MUMBAI, Asia, U.S

☆ FPI selloff in Indian shares hits nine-month high in October - NSDL data
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Nov 6 (Reuters) - Foreign portfolio investors (FPIs) sold Indian equities worth 245.48 billion rupees ($2.95 billion) in the month of October, the most in nine months, data from the National Securities Depository (NSDL) showed. WHAT FPIs SOLD IN OCTOBERFinancials witnessed the most FPI selling in October to the tune of 118.04 billion rupees. FPIs had bought shares worth 555.79 billion rupees in the sector between April and July. Information Technology (IT) stocks saw outflows worth 32.62 billion rupees, amid weak results, elevated U.S. Treasury yields and rate concerns in the U.S. ($1 = 83.1810 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Reuters Graphics FPIs, Pramod Gubbi, Financials, FPIs, Bharath Rajeswaran, Nivedita Organizations: National Securities Depository, Reuters Graphics, Treasury, Marcellus Investment Management, Information Technology, U.S ., U.S, Reuters, HSBC, Thomson Locations: BENGALURU, India, U.S, Bengaluru

☆ India rupee to rally after data reaffirms Fed done with rate hikes
▼ + stars: | 2023-11-06 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Nov 6 (Reuters) - The Indian rupee is expected to rise at open on Monday after softer-than-expected U.S. jobs data reinforced expectations that the Federal Reserve will not hike interest rates further. Non-deliverable forwards indicate the rupee will open at around 83.08-83.12 to the U.S. dollar compared with 83.2850 in the previous session. Asian currencies extended last week's advance after the dollar index slumped on Friday following data that indicated that the U.S. labor market was cooling. "Last week’s Fed meeting and latest data flow suggest the rate hike cycle is most likely over. "It's to be fully expected that the rupee will underperform in times when the dollar is under stress," the forex trader said.

Persons: Nimesh Vora, Mrigank Organizations: Federal Reserve, U.S, Reuters, Treasury, Fed, DBS Research, Korean, Malaysian, Reserve Bank of, Brent, Thomson Locations: MUMBAI

☆ Rupee may drop on weak risk, eyes fallout of RBI's swap maturity
▼ + stars: | 2023-10-23 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

A customer hands Indian currency notes to an attendant at a fuel station in Mumbai, India, August 13, 2018. Non-deliverable forwards (NDFs) indicate the rupee will open at around 83.16-83.18 to the U.S. dollar, compared with 83.1225 in the previous session. The rupee on Friday managed a small relief rally on aggressive intervention by the RBI in NDFs and spot. Its looks like the intervention "will not prove too sticky" and the rupee "will be back under pressure", a forex trader at a bank said. The RBI's swap maturity has promoted concerns about a dollar crunch and the central bank, like last week, may once again be a provider of dollars, according to traders.

Persons: Francis Mascarenhas, Nimesh Vora, Sonia Cheema Organizations: REUTERS, Rights, Reserve Bank, India's, U.S ., Federal Reserve, Fed, ANZ, Brent, Thomson Locations: Mumbai, India, Rights MUMBAI, NDFs

☆ India rupee to struggle on US yield concerns; odds of record low seen rising
▼ + stars: | 2023-10-19 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

A customer hands Indian currency notes to an attendant at a fuel station in Mumbai, India, August 13, 2018. Non-deliverable forwards indicate the rupee will open at around 83.26-83.27 to the U.S. dollar compared with 83.2575 in the previous session and within a whisker of the 83.29 record low. The Reserve Bank of India has over the last several days intervened to prevent the rupee from falling to a lifetime low. "From what I have seen this week, odds of a new low (on rupee) are now higher." The 10-year U.S. Treasury yield rose to 4.9550% in Asia, the highest in sixteen years.

Persons: Francis Mascarenhas, John Williams, Jun Rong, Nimesh Vora, Sohini Goswami Organizations: REUTERS, Rights, Treasury, U.S, Reserve Bank of, Federal Reserve, New York Fed, IG Asia, Brent, Thomson Locations: Mumbai, India, Rights MUMBAI, Reserve Bank of India, Asia, Singapore

☆ India rupee to receive help from pullback in oil, traders eye US inflation
▼ + stars: | 2023-10-12 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

A customer hands Indian currency notes to an attendant at a fuel station in Mumbai, India, August 13, 2018. REUTERS/Francis Mascarenhas/File photo Acquire Licensing RightsMUMBAI, Oct 12 (Reuters) - The Indian rupee on Thursday will be boosted by the pullback in oil prices and softer U.S. Treasury yields, while investors wait for the important U.S. inflation data due later in the day. India's inflation data is due after market hours. Meanwhile, headline U.S. consumer inflation index (CPI) is expected to rise 0.3% month-on-month. "Today’s U.S. CPI inflation may surprise like yesterday’s PPI inflation," DBS Research said in a note.

Persons: Francis Mascarenhas, Brent, Nimesh Vora, Mrigank Organizations: REUTERS, Rights, Treasury, Reuters, Federal Reserve, Fed, CPI, DBS Research, Brent, Thomson Locations: Mumbai, India, Rights MUMBAI, Asia, U.S

☆ Rupee to rise on bets Fed will not hike rates further
▼ + stars: | 2023-10-11 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

Non-deliverable forwards indicate rupee will open at around 83.18-83.20 to the U.S. dollar compared with 83.2450 in the previous session. The dollar index was down to 105.74 and the Korean won led Asian currencies higher. The dollar index has struggled since reaching a year-to-date high of 107.34 last Tuesday. It's "possible" that the recent rise in yields on longer-term Treasuries means the Fed need not raise interest rates as much as otherwise, but it's hard to know definitively, Minneapolis Fed President Neel Kashkari said on Tuesday. Atlanta Fed President Raphael Bostic outright said the U.S. central bank need not raise borrowing costs any further.

Persons: Thomas White, Brent, Neel Kashkari, Raphael Bostic, Michael Hewson, Nimesh Vora, Nivedita Organizations: REUTERS, Rights, U.S . Federal, U.S, Korean, Treasury, Fed, . Atlanta Fed, Brent, Thomson Locations: India, Rights MUMBAI, Israel, Asia, Minneapolis, U.S

☆ Rupee set to rally on India's inclusion in JPMorgan bond index
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +3 min

Non-deliverable forwards indicate the rupee will open at around 82.80-82.82 to the U.S. dollar, compared with 83.09 in the previous session. Indian government bonds will be included in the Government Bond Index-Emerging Markets index and the index suite, JPMorgan said on Friday. Inclusion will start on June 28, 2024, and extend over 10 months with 1% increments on its index weighting. India's inclusion in the JPMorgan index increases the probability of inclusion into the Bloomberg Global Aggregate Bonds Index, which, IDFC First Bank estimates, could lead to additional inflows of $15 billion to $20 billion. The dollar index reached 105.74 on Thursday, the highest in over six months.

Persons: Francis Mascarenhas, Nimesh Vora, Savio D'Souza Organizations: REUTERS, Rights, U.S ., Government Bond, JPMorgan, IDFC, Bank, Bloomberg, Treasury, U.S . Federal, ING Bank, Brent, Thomson Locations: Mumbai, India, Rights MUMBAI

A customer hands Indian currency notes to an attendant at a fuel station in Mumbai, India, August 13, 2018. REUTERS/Francis Mascarenhas Acquire Licensing RightsMUMBAI, Sept 20 (Reuters) - The Indian rupee, hovering near a record low, is expected to remain under pressure amid focus on crude oil prices and the U.S. Federal Reserve's policy decision. Non-deliverable forwards (NDF) indicate rupee will open at around 83.25-83.29 to the U.S. dollar compared with 83.2675 in the previous session. The Fed on Wednesday is widely expected to keep the policy rate unchanged with futures assigning a near zero percent probability of a rate hike. "We expect the 2023 median policy rate forecast to show one more 25bps hike, for a terminal rate of 5.5-5.75%," BofA Global Research said in a note.

Persons: Francis Mascarenhas, Brent, Nimesh Vora, Mrigank Organizations: REUTERS, Rights, U.S, Reserve Bank of, Fed, Research, Brent, Thomson Locations: Mumbai, India, Rights MUMBAI, U.S . Federal, Reserve Bank of India, Asia

☆ India rupee to not react much to above expectations US inflation
▼ + stars: | 2023-09-14 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

An attendant at a fuel station arranges Indian rupee notes in Kolkata, India, August 16, 2018. Non-deliverable forwards indicate the rupee will open around the same level as its previous close of 82.9850. The dollar index was at 104.78, roughly at the same level it was prior to the U.S. inflation data. U.S. Treasury yields jumped following the data, but retreated and are now at levels lower than before the inflation reading. FEDWATCHANZ said that the August inflation was not sufficient to prompt a re-pricing in Fed expectations.

Persons: Goldman Sachs, Nimesh Vora, Mrigank Organizations: REUTERS, Rights, Treasury, U.S . Federal, FEDWATCH ANZ, ANZ, European Central Bank, Brent, Thomson Locations: Kolkata, India, Rights MUMBAI, U.S, Asia

☆ Rupee to see some relief on pullback in US yields, dollar index
▼ + stars: | 2023-09-08 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Sept 8 (Reuters) - The Indian rupee is expected to open higher on Friday on the back of a pullback in U.S. Treasury yields and a broadly softer dollar. Non-deliverable forwards indicate the rupee will open at around 83.12-83.14 to the U.S. dollar compared with 83.21 in the previous session. The rupee has been flirting with the record low of 83.29 and has largely avoided it, thanks to the Reserve Bank of India's (RBI) intervention. The dollar index retreated in the Asia session to 104.86, having reached a six-month high of 105.15 in the New York session. Another round of losses in the yuan suggest that upside on the rupee following the open "will not be much", the forex traders said.

Persons: Nimesh Vora, Sonia Cheema Organizations: Treasury, U.S, Reserve Bank of India's, New, ANZ, Brent, Thomson Locations: MUMBAI, Mumbai, Asia, New York, U.S

MUMBAI, Sept 4 (Reuters) - The Indian rupee is likely to open little changed on Monday after a soft U.S. jobs report reinforced expectations that the Federal Reserve will not hike interest rates anymore, but the dollar still managed to rally. Non-deliverable forwards (NDF) indicate rupee will open at around Friday's level of 82.7150. Following the report, futures indicated almost no chance of a September rate hike and about a 35% chance of a hike in November. The dollar and U.S. yields initially dropped following the report but recovered later. The dollar index reached a high of 104.26 on Friday and the 10-year U.S. Treasury yields reached 4.17%.

Persons: Goldman Sachs, Nimesh, Eileen Soreng Organizations: Federal Reserve, U.S, ING Bank, Treasury, Labor, Brent, Thomson Locations: MUMBAI, U.S

☆ Rupee to rise as dollar extends losses on US GDP growth revision
▼ + stars: | 2023-08-31 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Aug 31 (Reuters) - The Indian rupee is expected to open higher on Thursday after the dollar index extended losses following a downward revision to U.S. economic growth in the second quarter. Non-deliverable forwards indicate the rupee will open at around 82.62-82.64 to the U.S. dollar, compared with its close of 82.7325 in the previous session. Asian currencies were up 0.1% to 0.2% after the dollar index fell for the third straight day on Wednesday to reach a two-week low. The dollar index dropped to near 103 and U.S. Treasury retreated after weaker-than-expected growth and labour market data lowered expectations that the Federal Reserve will raise interest rates further. "The GDP data is not going to have much of an impact on the rupee," the fx trader said.

Persons: Nimesh Vora, Savio D'Souza Organizations: U.S ., . Treasury, Federal Reserve, ING Bank, Treasury, Brent, Thomson Locations: MUMBAI, Mumbai, U.S

☆ Rupee caught between further rise in US yields, yuan recovery
▼ + stars: | 2023-08-22 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

A customer hands Indian currency notes to an attendant at a fuel station in Mumbai, India, August 13, 2018. REUTERS/Francis Mascarenhas/File Photo Acquire Licensing RightsMUMBAI, Aug 22 (Reuters) - The Indian rupee is likely to open little changed on Tuesday on the back of a recovery in the Chinese yuan and other Asian currencies despite a further rise in U.S. yields. Asian currencies managed a recovery on Tuesday, despite the U.S. Treasury yields. The offshore yuan was back below 7.30 to the dollar on bets of tightening up of offshore yuan liquidity. China's major state-owned banks were seen actively mopping up the offshore yuan on Monday.

Persons: Francis Mascarenhas, Jerome Powell's, Powell, Nimesh Vora, Dhanya Ann Thoppil Organizations: REUTERS, Rights, Reserve Bank of, Treasury, Federal Reserve, ING Bank, ING, U.S, Brent, Thomson Locations: Mumbai, India, Reserve Bank of India

☆ Rupee likely to decline on yuan-led weakness in Asia fx
▼ + stars: | 2023-08-21 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Aug 21 (Reuters) - The Indian rupee is expected to drop at the opening on Monday, tracking losses in Asian peers and on persisting worries over U.S. yields. Non-deliverable forwards indicate rupee will open at around 83.18-83.20 to the U.S. dollar, compared with 83.1025 in the previous session. The offshore Chinese yuan dropped to near 7.32 to the dollar on Monday despite a smaller-than-expected interest rate cut. More than 90% of the economists had predicted a 15 bps rate cut. Investors expect Chair Jerome Powell to give clarity on the interest rate path.

Persons: Fed's, Jerome Powell, Powell, Nimesh Vora, Dhanya Ann Thoppil Organizations: U.S ., Reserve Bank of India, Reuters, Federal Reserve, ANZ, Brent, Thomson Locations: MUMBAI, Mumbai, China

☆ Rupee at risk of falling to record low on surging US yields
▼ + stars: | 2023-08-17 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Aug 17 (Reuters) - The Indian rupee on Thursday is expected to open just shy of its record low in the wake of a further rise in U.S yields on bets that interest rates are likely to say higher for longer. Non-deliverable forwards indicate the rupee will open at around 83.20-83.22 to the U.S. dollar compared with 82.95 in the previous session. The rupee's record low is 83.29, reached in October 2022. A decline below 83.30 for the rupee "would trigger a new round" of dollar buying and "you can expect a sizeable move", he said. Resilient U.S. economic data and worries over supply have been among the reasons cited by analysts for the jump in U.S. yields.

Persons: Nimesh Vora, Nivedita Organizations: U.S, NDF, Reserve Bank of, U.S . Federal, Fed, DBS Research, Brent, Thomson Locations: MUMBAI, India, Reserve Bank of India, Asia

☆ Rupee to fall on bets Fed to remain restrictive despite moderating inflation
▼ + stars: | 2023-08-11 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Aug 11 (Reuters) - The Indian rupee will likely weaken on Friday on expectations that the U.S. Federal Reserve will keep interest rates high despite signs that price pressures are moderating. U.S. equities rallied, the dollar index dropped and U.S. yields declined after data showed that headline and core inflation rose less than expected. San Francisco Fed President Mary Daly said that while recent inflation data is moving in the right direction, more progress is needed before she would feel comfortable that the Fed has done enough. The dollar index , which dropped to 101.76 post the inflation data, was back near 102.50. Investors are cautious that while the Fed will pause in September, rates "will remain restrictive for some time", ANZ said in note.

Persons: it's, Mary Daly, Nimesh Vora, Sonia Cheema Organizations: U.S . Federal Reserve, U.S ., NDF, San Francisco Fed, ANZ, Brent, Thomson Locations: MUMBAI, Mumbai, U.S, San

☆ Rupee to weaken on dollar rally, RBI likely to intervene
▼ + stars: | 2023-08-08 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Aug 8 (Reuters) - The Indian rupee is expected to open lower on Tuesday, weighed down by the recovery in the dollar index and a decline in Asian peers. Non-deliverable forwards indicate rupee will open at around 82.85 to the U.S. dollar, down from 82.7425 on Monday. The dollar index rose in Asia, and has now recovered a large part of its losses suffered post the U.S. jobs data. Asian currencies were down between 0.2% and 0.6%, with the offshore Chinese yuan slipping to 7.2250 to the dollar. The U.S. inflation data due Thursday is seen key to the Fed's outlook.

Persons: Michelle Bowman, Nimesh Vora, Rashmi Organizations: U.S ., Reserve Bank of India, U.S, U.S . Federal, Reuters, ANZ, Brent, Thomson Locations: MUMBAI, Asia, U.S ., U.S

☆ Rupee to recover on pullback in US yields after jobs data
▼ + stars: | 2023-08-07 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Aug 7 (Reuters) - The Indian rupee is expected to recover on Monday on the back of a pullback in U.S. yields and the decline in the dollar after the U.S. economy added fewer jobs than was forecast. We now move on to the U.S. inflation data and the RBI (Reserve Bank of India)." The 2-year U.S. yield declined while the already low odds of Federal Reserve rate hike in September dropped further. The unemployment rate dropped and wage growth surprised on the upside, suggesting that the U.S. labour market remained resilient. Meanwhile, U.S. consumer inflation data and the RBI policy decision are due Thursday.

Persons: payrolls, Nimesh Vora, Dhanya Ann Thoppil Organizations: U.S ., Reserve Bank of India, Federal, Federal Reserve, ING Bank, Brent, Thomson Locations: MUMBAI, U.S

☆ Rupee likely to remain under pressure on rising US yields
▼ + stars: | 2023-08-04 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

FILE PHOTO-A customer hands Indian currency notes to an attendant at a fuel station in Mumbai, India, August 13, 2018. REUTERS/Francis Mascarenhas/File PhotoMUMBAI, Aug 4 (Reuters) - The Indian rupee is expected to remain under pressure on Friday after longer maturity U.S. yields reached the highest level this year. Non-deliverable forwards indicate the rupee will open slightly weaker to the U.S. dollar from 82.7225 in the previous session. "The rupee and the whole EM complex will not see any sort of relief if the volatility in U.S. yields remains high." The Fitch downgrade of the U.S. credit rating, broadly resilient U.S. data and rising U.S. inflation expectations have contributed to the selloff in Treasuries.

Persons: Francis Mascarenhas, Fitch, Nimesh Vora, Sonia Cheema Organizations: REUTERS, U.S, Reserve Bank of India, U.S ., Reuters, NFP, DBS Research, Brent, Thomson Locations: Mumbai, India, MUMBAI, Treasuries, U.S

☆ Rupee may struggle on dollar move, support seen near
▼ + stars: | 2023-08-01 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Aug 1 (Reuters) - The Indian rupee is likely to decline on Tuesday, pressured by the dollar's move higher versus its major peers and Asian currencies. Non-deliverable forwards indicate rupee will open slightly weaker to U.S. dollar from 82.2450 in the previous session. The dollar index rose above 102 in the Asia session, hovering near the highest in three weeks. Weakness on the Japanese yen contributed to dollar index reaching 102. Surging crude oil prices and the move higher on the dollar index to boost USD/INR, Kunal Sodhani, vice president at Shinhan Bank, said.

Persons: Kunal Sodhani, Nimesh Vora, Nivedita Organizations: U.S, Korean, U.S . Federal Reserve, Brent, Shinhan Bank, Thomson Locations: MUMBAI, Asia, China

☆ Rupee hopeful of recovery on back of uptick on Asia FX
▼ + stars: | 2023-07-31 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, July 31 (Reuters) - The Indian rupee will be looking to recover on Monday, tracking the move higher in Asian peers on better-than-expected China data. Non-deliverable forwards indicate the rupee will inch up to the U.S. dollar at open from 82.2475 in the previous session. With Asian currencies doing well to begin the week and risk holding up, the rupee "will be hoping for a mini recovery", a forex trader at a bank said. The data comes after Federal Reserve Chair Jerome Powell left the door open for a rate hike at the September meeting. Data out on Friday supported investor expectations that the Fed rate hike cycle is over.

Persons: Kunal Kurani, Jerome Powell, Nimesh Vora, Sonia Cheema Organizations: U.S, Mecklai, China PMI, People's Bank of, Reuters, Brent, Thomson Locations: MUMBAI, China, U.S, People's Bank of China

☆ Rupee to weaken after dollar jumps on upbeat US data, dovish ECB
▼ + stars: | 2023-07-28 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, July 28 (Reuters) - The Indian rupee is poised to decline on Friday after a better-than-expected reading on U.S. gross domestic product and a slump in the euro prompted the biggest rally on the dollar index in more than four months. Non-deliverable forwards indicate rupee will open at around 82.25 to the U.S. dollar compared with 81.93 on Thursday. Asian currencies were lower, pressured by the biggest advance dollar index since mid-March. The dollar index climbed 0.6% on Thursday, helped the euro's plunge following the European Central Bank outcome. The ECB raised rates by 25 basis points, along expected lines, while leaving its options open for the September meeting.

Persons: Christine Lagarde, Nimesh Vora, Nivedita Organizations: U.S, European Central Bank, ECB, ING Bank, Reuters, U.S . Federal Reserve, Bank of Japan, Brent, Thomson Locations: MUMBAI, Mumbai

☆ Rupee to fall on dollar recovery on signs US job market remains robust
▼ + stars: | 2023-07-21 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

Non-deliverable forwards indicate the rupee will open at around 82.06-82.08 to the U.S. dollar, compared with 81.9850 in the previous session. "Just when there was a slight downside momentum (on USD/INR), the dollar is on its way up," a forex trader at a bank said. The rupee through the week has been in a narrow 25 paisa range. The dollar index and U.S. yields rose after data indicated the U.S. labour market remained resilient, which increased the probability that the Federal Reserve may deliver a rate hike beyond its July meeting. The Fed next week is widely expected to deliver a 25 basis points rate hike.

Persons: Srinivas Puni, Nimesh Vora, Sonia Cheema Organizations: U.S ., Federal Reserve, Reuters, QuantArt, Solutions, Fed, Brent, Thomson Locations: MUMBAI

☆ Rupee to climb near 82/USD on bets Fed will end rate hikes
▼ + stars: | 2023-07-13 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, July 13 (Reuters) - The Indian rupee is poised to rise on Thursday on expectations that cooling inflation in the United States will allow the Federal Reserve to pause interest rate hikes soon. Non-deliverable forwards indicate the rupee will open at around 82-82.05 to the U.S. dollar compared with 82.2475 in the previous session. "Having talked of an upside breakout (for USD/INR) last week, this has been quite a turnaround," a fx trader said. The larger-than-expected slowdown in the U.S. inflation fuelled expectations that the U.S. Federal Reserve is close to halting rate hikes. "The Federal Reserve seems intent on pushing ahead with a July rate hike, but the need for additional tightening thereafter is questionable," ING Bank said in a note.

Persons: interbank, Nimesh Vora, Nivedita Organizations: Federal Reserve, U.S, Reserve Bank of, U.S . Federal, ING Bank, Korean, Brent, Thomson Locations: MUMBAI, United States, Reserve Bank of India, U.S, Malaysian

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