Indian Rupee: Gains Seen Limited By Dollar Recovery

14 Nov 2022 , 09:26 AM

The Indian rupee is likely to be seen in range bound on Monday, as dollar is seen making a bounce back in early trades. Overseas, Asian stocks are trading mixed on Monday as a top U.S. central banker warned investors against getting carried away over one inflation number. The dollar index rose toward 107 on Monday, rising slightly from near three-month lows after Federal Reserve Governor Christopher Waller warned investors against getting too optimistic over one inflation report, and said that the central bank ?still got a ways to go? with interest rate hikes. The dollar index that measures the greenback against a basket of currencies was quoting at 106.52. US stocks ended sharply higher on Friday amid continued optimism over cooler-than-expected US inflation print. On Friday, rupee appreciated by 62 paise to close at 80.78 against the US dollar. At the interbank foreign exchange market, the domestic currency opened at 80.76 and touched an intra-day high of 80.58 and a low of 80.99 against the greenback.Powered by Commodity Insights