By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
businesspressbusinesspressbusinesspress
Notification Show More
Font ResizerAa
  • Home
  • Interview
  • News
  • Press Release
  • Event
  • Real Estate
  • Finance
  • Technology
  • Business
  • Startups
Reading: India’s Rupee is Slowly Declining Because to Concerns about Oil and China’s Rotation
Share
Font ResizerAa
businesspressbusinesspress
  • Home
  • Interview
  • News
  • Press Release
  • Event
  • Real Estate
  • Finance
  • Technology
  • Business
  • Startups
  • Home
  • Interview
  • News
  • Press Release
  • Event
  • Real Estate
  • Finance
  • Technology
  • Business
  • Startups
Have an existing account? Sign In
businesspress > Blog > Finance > India’s Rupee is Slowly Declining Because to Concerns about Oil and China’s Rotation
FinanceNews

India’s Rupee is Slowly Declining Because to Concerns about Oil and China’s Rotation

BusinessPress
Last updated: October 22, 2024 7:38 am
BusinessPress
Published October 22, 2024
Share
SHARE

The Indian rupee is depreciating as money shifts away from domestic stocks and towards China and as geopolitical concerns drive up oil prices. This month, the rupee dropped past 84 to the dollar and reached a new record low.

According to Barclays Plc, the central bank may permit the rupee to fall because of record-high gold prices, a stronger dollar, and heightened risk aversion. While researcher QuantEco Research aims for 84.50 and Kotak Mahindra Bank Ltd. anticipates a drop to 84.25, the lender anticipates a gradual reduction towards 84.40 per dollar.

Global headwinds from geopolitical uncertainties and the US’s slower rate of monetary easing despite strong data are anticipated to have a short-term negative impact on the currency, according to Upasna Bhardwaj, chief economist at Mumbai-based Kotak. According to her, this uncertainty is reflected in the outflow of foreign portfolios from India and other EMs as money shifts to China in the expectations of its recovery.

This month, international funds withdrew $9.1 billion from Indian stocks due to high valuations and a move towards China. Even India’s index-eligible bonds had two weeks of losses this month after attracting over $2 billion in monthly inflows since being added to international bond indexes in June.

Also Read:

India Becomes the fourth Nation to Surpass $700 Billion in Foreign Exchange Reserves

Deepinder Goyal of Zomato is leaving Shark Tank India, and Rival Swiggy will be Sponsoring the Program

 

You Might Also Like

Launch of the Desert Theatre Festival by Sharjah Ruler

Europe is Still Reliant on US Defence Manufacture and is Extremely Vulnerable

Two additional Humanitarian Supply convoys for displaced Families are sent to Gaza by the UAE.

October 2024 Will see the Release of the OnePlus 13, iQOO 13, Lava Agni 3, and Other Phones

A Manhattan Shooter Killed Four People, and the Mayor Claims the Gunman Targeted an NFL Office

Share This Article
Facebook Email Print
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recipe Rating




Follow US

Find US on Social Medias
Facebook X-twitter Instagram Linkedin
Popular News
BusinessNews

India: The UAE Envoy Praises the Two Nations’ Ties while Hosting a Ramadan Iftar at the Embassy

BusinessPress
BusinessPress
March 6, 2025
As local Stocks Decline, the Indian Rupee Avoids a Record low Due to Probable RBI Intervention
Trump Postpones the Ban, but the Software is still not Available for Download
NIFTY50 Forms a Doji Pattern and Consolidates at a Record High
Try Mindful Breathing This Morning: A step-by-Step Instruction

Categories

  • Business
  • Crypto
  • Event
  • Fashion
  • Finance
  • Gaming
  • Health & Fitness
  • Interview
  • Lifestyle
  • Marketing
  • News
  • Opinion
  • Photography
  • Press Release
  • Real Estate
  • Science
  • Social Media
  • Software
  • Startups
  • Technology
  • Uncategorized
  • World
Reading: India’s Rupee is Slowly Declining Because to Concerns about Oil and China’s Rotation
Share

About US

Business Press is an online media platform dedicated to providing valuable insights into the business world, covering a wide range of niches including technology, finance, marketing, health, artificial intelligence, events, software, cryptocurrency, and more. With a team of experienced journalists and industry experts, Business Press delivers the latest trends, analysis, opinion pieces, and exclusive interviews, catering to the needs of entrepreneurs, professionals, and business enthusiasts. The platform is committed to offering content that is informative, engaging, and thought-provoking, helping readers stay ahead in the ever-evolving business landscape.

Contact Now

sales@businesspress.online
+91.9899630849

© Business Press 2025. All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?