NEWS / Foreign Exchange

The Sterling stayed strong against the Dollar powered by market expectations of a rate hike next month

??? The Rupee fell to a fresh low today as market saw a renewed surge of Dollar selling. The USD/INR pair ended at 41.17 from 41.68 earlier.

??? The 6-month and 1-year forward premium was at 5.93% and 4.73% as compared to 6.7% and 5.02% previously.

??? The Sterling stayed strong against the Dollar powered by market expectations of a rate hike next month. USD/JPY was at 118.85 from 118.7 yesterday. EUR/USD was at 1.3581 from 1.3558 yesterday and GBP/USD was at 1.9994 from 1.9997 yesterday. *

*These levels are taken at 17.30 IST.