Egypt's Al-Sisi offers to host talks to support DRC peace process in call with Tshisekedi    Cabinet grants golden licenses to MAC, Deli Egypt for EGP 15.1bn in new investments    Egypt, Canada sign development agreements worth EGP 552m for women's empowerment, food security    Egypt's Abdelatty proposes hospital project, infrastructure support in Gambia    Egypt's Suez Canal Authority seeks African market expansion with Namibia port deal    Egypt explores opportunities to expand sustainable environmental investment in natural reserves    Egyptian investment ministry outline plans to strengthen trade ties with Africa    UK offers tax breaks to lure Egyptian firms to London bourse – ambassador    Egypt advances strategy to reduce public, external debt    Gaza death toll climbs as winter cold intensifies humanitarian emergency    Egypt, China discuss sustainable Gaza ceasefire and Sudan truce    GENNVAX launches largest regional vaccine manufacturing facility with $150m investment    Health Minister Discusses radiology upgrade with Curagita, ACH    Central Bank of Egypt, Medical Emergencies, Genetic and Rare Diseases Fund renew deal for 3 years    Egypt's SPNEX Satellite successfully enters orbit    Egypt unveils restored colossal statues of King Amenhotep III at Luxor mortuary temple    Egyptian Golf Federation appoints Stuart Clayton as technical director    4th Egyptian Women Summit kicks off with focus on STEM, AI    Egypt's PM reviews major healthcare expansion plan with Nile Medical City    UNESCO adds Egyptian Koshari to intangible cultural heritage list    UNESCO adds Egypt's national dish Koshary to intangible cultural heritage list    Egypt calls for inclusive Nile Basin dialogue, warns against 'hostile rhetoric'    Egypt recovers two ancient artefacts from Belgium    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches Red Sea Open to boost tourism, international profile    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Indian rupee weakens, swap rates rise
Nada Ali Published in Amwal Al Ghad on 16 - 12 - 2024

The Indian rupee weakened slightly on Monday, following the trend of other Asian currencies. The dollar-rupee swap rate increased due to cash dollar inflows and tight rupee liquidity, pushing the implied rupee yield on swaps above 10 per cent. As of 10:00 am IST, the rupee was trading at 84.8250, a 0.04 per cent decline from its previous close of 84.7875.
The dollar-rupee overnight swap rate continued to climb, reaching 1.20 paisa and pushing the implied rupee yield on overnight FX swaps above 10 per cent.
This increase was driven by cash dollar inflows and ample USD liquidity in the banking system, following recent spot dollar sales by the central bank.
Meanwhile, far forward premiums for the dollar-rupee pair decreased, with the one-year implied yield dropping 2 basis points to 2.16 per cent due to rising US bond yields ahead of the upcoming Federal Reserve policy decision.
The one-year US Treasury yield rose by 4 basis points to 4.28 per cent. The Federal Reserve is anticipated to lower rates, and investors are monitoring for any hawkish changes to future interest rate forecasts.
Attribution: Reuters
Subediting: M. S. Salama

Clic here to read the story from its source.