The Indian rupee reached an all-time low versus the US dollar. The rupee was trading at 86.40 against the US dollar when this article was filed. According to experts, volatility tendencies indicate that the rupee would fall to 87 by the end of March.
According to implied volatility trends, the euro has an 80% chance of falling to 87 between now and the end of March, up from 27% a month ago.” says Akshay Chinchalkar, Axis Securities’ Head of Research.
According to Akshay, higher treasury yields and a jump in petroleum prices have impacted the prospects for the Indian currency. The rupee has fallen for 16 weeks in a row, something that has never happened before.
The Indian rupee fell above 86 this morning as a worldwide dollar rally fuelled by higher treasury yields and an increase in oil prices damaged the rupee’s prospects. Offshore markets continue to bet against the rupee through options, with dollar-rupee out-of-the-money calls being traded actively last week. “The rupee has now dropped for 16 straight weeks, which has never happened before,” he remarked. Ajay Bagga. Banking and market experts disagree, stating that the rupee is under pressure in line with other global currencies. In 2024, it outperformed other emerging markets (EMs).
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