Now Reading: Rupee diverges: The Hindu says up 12 paise, DH says down 8
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Rupee diverges: The Hindu says up 12 paise, DH says down 8
The rupee moved in opposite directions on Monday, with The Hindu reporting a sixth straight session of gains to close at 95.31, up 12 paise, while Deccan Herald reported an early trade…
The Story in Brief
The rupee moved in opposite directions on Monday, with The Hindu reporting a sixth straight session of gains to close at 95.31, up 12 paise, while Deccan Herald reported an early trade fall of 8 paise to 95.25. The conflicting data come amid a sharp drop in global crude oil prices and easing US-Iran tensions. Both outlets note FII inflows and strong forex reserves supported the rupee. The Hindu says Brent crude fell 5.06% to $83.48 a barrel; Deccan Herald says it rose 0.91% to $84.31. The dollar index was slightly lower in The Hindu's account but up in Deccan Herald's.
The Indian Opinion
The conflicting reports from The Hindu and Deccan Herald on the rupee's direction show how volatile the market remains. One-sided narratives of a steady recovery ignore the intraday swings. The RBI's weekly forex reserve numbers also differ by over $10 billion between the two outlets, a fact that demands clarification. The real test will be the rupee's close and the official RBI data release.
Sources (2): thehindu.com, deccanherald.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
