Key Highlights
- He attributed the weakness to uncertainty surrounding India–US trade relations and a subdued domestic stock market driven by foreign capital outflows. Parmar added that heightened geopolitical risks have further lifted demand for the dollar.
- “The flight to safety intensified after the detention of Venezuelan leader Nicolas Maduro by US military personnel over the weekend,” he said. From a technical perspective, the USD-INR spot pair faces resistance near 90.45, while immediate support is seen around 89.90, Parmar noted. In global markets, the dollar index—which tracks the greenback against six major currencies—rose 0.27% to 98.68.
- Brent crude oil climbed 0.91% to $61.30 per barrel in futures trade. Looking ahead, State Bank of India has projected that the rupee could weaken by about 2% in the next financial year, with the exchange rate nearing 92 per dollar. Meanwhile, data released by the Reserve Bank of India showed that India’s foreign exchange reserves increased by $3.293 billion to $696.61 billion for the week ended December 26.
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