Rupee’s Brief Dalliance With Record Low Yet to Crack Tight Range

-- The Indian rupee saw a record low close of 83.29 per dollar Wednesday before pulling back Thursday, but strategists say a sustained break of its recent trading range is needed before momentum traders jump on the trend.Fed Signals Yield Rise Reduces Need to Hike, But Door Still OpenThe rupee has been trading within a narrow range of less than 30 paisa over the last four weeks, becoming the world’s least-volatile currency.

The rupee is still among the top performers in Asia this year, on the back of inflows into equities and bonds. The currency is down just 0.6% against the dollar in 2023 and is Asia’s second-best performer, while others from Malaysia’s ringgit to the South Korean won have slipped far more. Analysts at MUFG Bank note that the Indian rupee was “close to unchanged” for the entire month of October in a note, retaining their forecast for it to trade at 83.70 in three months.Why Fewer Senior Executives Are Taking the Corporate Jet

Russia adds fresh capital controls to prop up ruble, but Kremlin is 'applying a Band-Aid to gangrene'

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