Earnings in Indian investments boost the rupee versus other foreign and UAE currencies. India’s rupee goes up vs Dirham Read more about it in details.
Indian rupee vs Dirham:
At the market’s break on Thursday 7th October, the Indian rupee is showing great momentum.The Indian rupee rises 22 paise to 74.75 against the US dollar (20.36 to 38 vs the UAE dirham), pursuing a confident trend in the Indian equities. India’s rupee goes up vs Dirham.
Indian interbank market:
At the Indian interbank market, the rupee began at 74.76 vs the dollar. Then it moves higher to 74.77, registering a growth of 22 paise over its past close.
Reserve Bank of India (RBI) new rules in India:
Forex traders told market members to remain careful. The new policy is coming, so be alert and wait for the Reserve Bank of India (RBI) policy statement to come this Friday. Also read about the Dubai Gold price goes down once again.
Monetary Policy Committee:
On Wednesday 7th oct 2021, the Reserve Bank’s rate-setting committee started its three-day discussions on the next bi-monthly fiscal policy. Amid growing global commodity costs and the need to contain boom at home. The six-member Monetary Policy Committee (MPC) talks will be published on Friday by RBI Governor Shaktikanta Das.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.05 per cent to 94.26. On the Indian equity market front, BSE Sensex was trading 541.9 points or 0.93 per cent above at 59,731.54, while the more far-flung NSE Nifty advanced 162.91 points or 0.93 per cent 17,808.92.
Indian market future:
Indian market is improving day by day. COVID-19 recovery is going good in India. It is a good sign for growing country like India. Modi Govt are working hard to fight against inflation and other matters to bring things to normal in the nation. India is also investing in EXPO 2021. Long term relation with UAE is growing at good rate.