The index of Real Effective Exchange Rate (REER) rose to three-month high of 112.41 in November. This is not exactly good news at it will make exports slightly expensive.
Crude oil prices continue to influence the Indian rupee’s movement. WTI Crude oil prices continued to hover at lower levels around $50 per barrel all through last week.
The Indian rupee rallied for a sixth day, set for the longest winning streak in more than a year, after the central bank signaled a compromise with the government in their dispute over reserves.
Representatives of atleast three Russian banks operating in India, including Vnesheconombank, Sberbank and VTB, will meet executives from top Indian banks in Mumbai on Monday to discuss rupee-rouble settlements between businesses of the two countries.
