PWC News
Wednesday, July 23, 2025
No Result
View All Result
  • Home
  • Business
  • Economy
  • ESG Business
  • Markets
  • Investing
  • Energy
  • Cryptocurrency
  • Market Analysis
  • Home
  • Business
  • Economy
  • ESG Business
  • Markets
  • Investing
  • Energy
  • Cryptocurrency
  • Market Analysis
No Result
View All Result
PWC News
No Result
View All Result

Indo-Pak conflict: Rupee witness biggest single day drop in over two years

Home Business
Share on FacebookShare on Twitter


Foreign exchange market sellers stated RBI didn’t intervene out there to stem the autumn within the rupee
| Photograph Credit score:
REUTERS

The sentiment within the foreign exchange market turned bearish on Thursday within the backdrop of escalating battle between India and Pakistan, with the rupee witnessing the largest single day drop in over two years. A robust greenback additionally weighed on the Indian foreign money.

The rupee closed 88 paise down at 85.71 per greenback in opposition to earlier shut of 84.83. Opening a tad stronger at 84.79 per greenback, the dollar-rupee pair touched a excessive/low of 85.97/84.67. General, the rupee noticed an enormous intra-day motion of about 130 paise.

Arvind Kanagasabai, Government Vice President-Built-in Treasury, Tamilnad Mercantile Financial institution, noticed that information of escalation within the Indo-Pak battle round 11.30 am or so, triggered nervousness within the fairness markets, which, in flip, had a ripple impression on the rupee.

Furthermore, the greenback index too strengthened in opposition to main currencies.

Repo charge minimize

Kanagasabai assessed that if the financial coverage committee cuts the repo charge additional by 25 foundation factors, it can have a depreciating impact on the rupee.

Foreign exchange market sellers stated RBI didn’t intervene out there to stem the autumn within the rupee.

Wild swing

Amit Pabari, MD, CR Foreign exchange Advisors, famous that the dollar-rupee noticed a wild swing amid geopolitical escalation and stop-loss triggers.

“The dollar-rupee pair skilled certainly one of its sharpest intraday strikes in current historical past…This dramatic depreciation within the rupee was largely fuelled by intensifying geopolitical tensions between India and Pakistan, following escalating developments alongside the border.

“Including to the stress, stop-losses of main importers have been triggered because the rupee weakened, leading to a sudden surge in greenback shopping for that magnified the rupee’s decline,” Pabari stated.

The transfer marked the sharpest intraday swing since March 27, 2020, when the pair moved ₹1.08, and April 7, 2021, with a 1.0475 rupee change.

Pabari assessed that technically, the dollar-rupee pair now eyes resistance at 85.80–86.00, whereas near-term help is at 85.00. The near-term outlook stays risky, pushed by geopolitical tensions.

Revealed on Could 8, 2025



Source link

Tags: biggestConflictDaydropIndoPakRupeesingleWitnessyears
Previous Post

Interest rate cuts hopes fade after Bank of England decision

Next Post

The Top 10 Graham Number Dividend Champions – Sure Dividend

Related Posts

India braces for higher tariffs as US announces deals with Japan, Indonesia
Business

India braces for higher tariffs as US announces deals with Japan, Indonesia

July 23, 2025
GNG Electronics IPO opens with robust 44% GMP. Should you subscribe?
Business

GNG Electronics IPO opens with robust 44% GMP. Should you subscribe?

July 23, 2025
Exclusive: Mark Cuban says AI will be a baseline skill like email or Excel in 5 years and entrepreneurs should embrace it or get left behind
Business

Exclusive: Mark Cuban says AI will be a baseline skill like email or Excel in 5 years and entrepreneurs should embrace it or get left behind

July 22, 2025
Havells India shares rise despite 15 per cent drop in Q1 profit; should you bet for long term?
Business

Havells India shares rise despite 15 per cent drop in Q1 profit; should you bet for long term?

July 22, 2025
Why This Analyst Says Amazon Stock Is Still His ‘Top Pick’
Business

Why This Analyst Says Amazon Stock Is Still His ‘Top Pick’

July 23, 2025
What Back-to-School Shoppers Want—And How Resellers Can Deliver
Business

What Back-to-School Shoppers Want—And How Resellers Can Deliver

July 22, 2025
Next Post
The Top 10 Graham Number Dividend Champions – Sure Dividend

The Top 10 Graham Number Dividend Champions - Sure Dividend

The Rise of dApps ; What Decentralized Applications Are and Why They Matter

The Rise of dApps ; What Decentralized Applications Are and Why They Matter

Trump drops Israel ties in talks with Saudi Arabia – report

Trump drops Israel ties in talks with Saudi Arabia - report

Leave a Reply Cancel reply

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

RECOMMENDED

Sol-Up Powers Homes and Businesses with Smarter Solar Energy
Energy

Sol-Up Powers Homes and Businesses with Smarter Solar Energy

by PWC
July 20, 2025
0

From begin to end, Sol-Up delivers a excessive normal of buyer care. Their licensed staff handles the whole lot from...

White House says economy is ‘back on track’ despite ‘soaring’ prices — Americans disagree

White House says economy is ‘back on track’ despite ‘soaring’ prices — Americans disagree

July 22, 2025
Ultra-rapid EV chargers on their way to Israel

Ultra-rapid EV chargers on their way to Israel

July 18, 2025
XRP Not in Competition with Circle, John Deaton Clarifies

XRP Not in Competition with Circle, John Deaton Clarifies

July 18, 2025
Will Q-Day Destroy Bitcoin?

Will Q-Day Destroy Bitcoin?

July 17, 2025
US House Paves the GENIUS Act’s Way for Regulating Stablecoins

US House Paves the GENIUS Act’s Way for Regulating Stablecoins

July 18, 2025
PWC News

Copyright © 2024 PWC.

Your Trusted Source for ESG, Corporate, and Financial Insights

  • About Us
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact Us

Follow Us

No Result
View All Result
  • Home
  • Business
  • Economy
  • ESG Business
  • Markets
  • Investing
  • Energy
  • Cryptocurrency
  • Market Analysis

Copyright © 2024 PWC.