Daily Digest Market Movers: Indian Rupee remains vulnerable to high inflation, geopolitical risk 에서

13 Mar 2024, 20:47 · Views 118

India's foreign reserves increased by $6.55 billion to $625.626 billion in the week ended March 1, according to the RBI.
Indian Commerce and Industry Minister Piyush Goyal said many developed and developing countries have shown interest in trading in the Indian currency with India to cut transaction costs as the INR gains traction
The Indian economy will transition to an upper middle-income country by FY36, reaching the $15 trillion mark by FY47, according to India Ratings and Research (Ind-Ra).
Fed Chair Jerome Powell said the US economy is healthy, and policymakers are not far from having enough confidence in inflation's downward trajectory to begin cutting rates.
Futures markets have priced in about a 70% chance the Fed will start cutting interest rates by mid-June and expect a full percentage point of rate cuts by the end of the year, according to the CME FedWatch Tools.
The headline CPI figure is expected to remain steady at 3.1% YoY in February, while the Core CPI figure is estimated to ease to 3.7% YoY in February.

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