The Pakistani rupee has hit a historic low against the US dollar due to increased demand for the dollar following eased import restrictions and political uncertainty ahead of the general elections.
The US dollar remains strong against major peers and the yen, as Treasury yields rise amid expectations of high US interest rates for a longer period, while China's central bank sets a stronger-than-expected daily midpoint for the yuan to counter mounting pressure on the currency.
The Indian rupee is expected to rise due to a pullback in U.S. Treasury yields and weak economic data, leading to a favorable near-term outlook.
The Pakistani rupee weakened further against the US dollar in the interbank market due to higher demand and uncertainty, while the open market remained stable; however, insiders noted that currency dealers were selling the dollar at higher rates in the open market.
The Pakistani rupee is expected to continue its decline against the US dollar, with analysts predicting an interest rate hike by the central bank in an attempt to prevent further depreciation.
The Indian rupee remains steady against the US dollar due to corporate dollar demand and importers' activities.
The Indian rupee weakened against the U.S. dollar due to demand from state-run banks and the potential impact of U.S. GDP data.
The Pakistani rupee is expected to trade within a narrow range against the dollar in the upcoming week following its recent sharp depreciation, although some analysts anticipate continued pressure on the currency due to capital withdrawals, political unrest, and economic uncertainty.
The Indian rupee hits a 10-month low against the US dollar due to concerns over rising oil prices and a decline in Asian currencies.
India's rupee is expected to remain close to its historic low in the next six months, despite efforts by the Reserve Bank of India to reduce volatility, with over a third of analysts predicting a new low within a year.
The Indian rupee could reach record lows against the U.S. dollar if oil prices continue to rise, according to the head of global foreign exchange at Jefferies, Brad Bechtel, although he believes the rupee will be one of the more stable currencies in emerging markets. The rupee is currently moving between 83 and 85 against the U.S. dollar, and if oil prices were to fall, it could fall close to the 82 levels.
The Indian Rupee is weakening against the US dollar, causing concern for Indian authorities who fear that it could impact the country's import and export sectors, with suspicions that India may be taking measures to limit the dollar's growth; similarly, other BRICS member countries like China and Japan are also trying to curb the US dollar's growth.
The Indian rupee is expected to open largely unchanged after the U.S. inflation data had no lasting impact on the dollar.
The value of the Indian rupee is at risk of declining significantly due to surging oil prices and the dollar's rally, despite interventions by the Reserve Bank of India to prevent a fall.
/cloudfront-us-east-2.images.arcpublishing.com/reuters/RYSKEML6TVIDZMDMQBXWK2BZIE.jpg)