Indian Rupee (INR) trades strongly on Wednesday on the decline of US Treasury bond yields. India’s Wholesale Price Index (WPI) inflation remained in the deflationary zone in October. Indian Trade Balance and US Producer Price Index (PPI), Retail Sales will be due on Wednesday.
Indian Rupee gains traction, backed by lower US Treasury bond yields, weaker USD. India’s Wholesale Price Index (WPI) inflation remained in the deflationary zone in October. Indian Trade Balance and US Producer Price Index (PPI), Retail Sales will be due on Wednesday. Indian Rupee (INR) trades strongly on Wednesday on the decline of US Treasury bond yields.
On Tuesday, India’s inflation, as measured by the Wholesale Price Index (WPI), remained in the deflationary zone for the seventh month in a row in October, coming in at -0.52% versus -0.26% prior. That being said, the overall price development in manufactured products contributed to lower wholesale inflation in October. Nonetheless, India remains vulnerable to higher crude prices as India is the world's third-biggest oil consumer. Market participants will keep an eye on the Indian Trade Balance for October. In the meantime, the Reserve Bank of India (RBI) is likely to intervene to prevent the volatility in the national currency, which might cap the INR’s depreciation in the near ter
Indian Rupee US Treasury Bond Yields Wholesale Price Index Inflation Deflationary Zone Indian Trade Balance US Producer Price Index Retail Sales Reserve Bank Of India Crude Prices
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