USD/INR Loses Ground Amid India's Foreign Inflows, Weaker US Dollar

The Indian Rupee (INR) posts modest gains on the softer US Dollar on Thursday.

FXStreet56minutes ago

Fosun Pharma has sold 6.01% of its equity in Gland Pharma.

Fosun Pharma (02196) announced that its subsidiary, Fosun Pharma Singapore, sold 9.9 million shares of Gland Pharma (approximately 6.01% of the total shares as of June 19, 2024) through block trading at an average price of INR 1,771.81 per share (pre-tax), for a total consideration of INR 17.541 billion (pre-tax), equivalent to approximately USD 211 million (pre-tax). The transaction price per share is higher than the closing price of Gland Pharma as of June 18, 2024.

新浪港股20:46 ET

Dollar Index to Trade in Range – OCBC

USD traded modestly softer as US retail sales disappointed. Fed speakers are hesitant to define the date for the next rate cut, OCBC FX Strategist Christopher Wong notes.

FXStreetJun 19 11:51 ET

Indonesian Rupiah's Weakening Trend Likely to Persist -- Market Talk

0337 GMT - Indonesian rupiah's weakening trend is likely to persist, says Lloyd Chan, senior currency analyst at MUFG Bank, in a research report. The Japanese bank remains cautious on the rupiah, as m

WSJJun 18 23:37 ET

USD/INR Recovers Despite Weaker US Retail Sales Data Spurs Fed Rate Cuts Bet

The Indian Rupee (INR) edges lower on Wednesday despite the softer Greenback.

FXStreetJun 18 21:28 ET

Federal Reserve officials emphasize the need for more evidence of cooling inflation and remain cautious about the timing of a rate cut.

Zhixun Finance and Economics app learned that on Tuesday, Federal Reserve officials unanimously emphasized the need for more evidence of inflation cooling before interest rate cuts. Several officials also provided insight into the timing of interest rate cuts. Adriana Kugler, a member of the Federal Reserve Board of Directors, said that if the economic situation develops as she expects, it may be appropriate for the Federal Reserve to cut interest rates "later this year." Alberto Musalem, President of the St. Louis Federal Reserve, stated in his first important policy speech that it may take "several quarters" of economic data to support a rate cut. New York Federal Reserve President Williams (Joh

Zhitong FinanceJun 18 19:50 ET