Gold & Forex Rates
UAE Draft Rates
April 28, 2025 Updated 1 day ago
currencies morning evening yesterday
Indian Rupee (INR) 23.06 23.11
Pakistani Rupee (PKR) 76.48 76.48
Bangladesh Taka (BDT) 33.23 33.23
Sri Lankan Rupee (LKR) 81.42 81.42
Nepalese Rupee (NPR) 36.98 36.98
Egyptian Pound (EGP) 13.81 13.83
Philippines Peso (PHP) 15.33 15.33
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Arabian Post
09-05-2025
- Arabian Post
Indian Rupee Hits Lowest Level in Weeks Amid Border Tensions
The Indian Rupee has plummeted to its lowest value against the UAE Dirham in over a month, marking a significant drop to 23.36 per dirham. This decline, the steepest since mid-April, follows escalating border tensions between India and Pakistan, which have triggered volatile market reactions. Traders are closely monitoring the situation, with fears of further instability driving the currency's slide. As the conflict intensifies, the Rupee's depreciation is attributed to growing uncertainties surrounding the geopolitical standoff. India and Pakistan, both nuclear-armed neighbours, have long been at odds over the Kashmir region. The latest developments have exacerbated market fears of prolonged instability, pushing investors to seek safer assets, which has further weighed on the Rupee. Currency markets, traditionally sensitive to geopolitical risks, have seen a surge in demand for the US Dollar, which remains a global safe-haven. Analysts point to the Dollar's strengthening as a direct response to mounting tensions in South Asia, compounded by global inflationary pressures. With foreign investors retreating from riskier assets, the Rupee has been further pressured, intensifying the currency's downtrend. The Indian government's response to the situation, alongside Pakistan's military actions, has added to investor uncertainty. The military exchanges along the Line of Control between the two countries have led to heightened concerns not only about regional security but also about the broader economic repercussions of prolonged instability. Economists suggest that the markets will continue to reflect these risks until diplomatic measures are taken to de-escalate tensions. The ongoing conflict is expected to affect trade relations, particularly in sectors reliant on cross-border commerce. Import and export activities between India and Pakistan, already hindered by past disputes, are likely to experience further disruptions. This could lead to an uptick in inflation, especially in critical sectors like oil, where price fluctuations are particularly sensitive to regional tensions. See also SolitAir Gains UAE Certification, Expands Cargo Fleet Central banks in both nations, as well as the International Monetary Fund , have called for restraint, urging both sides to avoid further military escalation and seek peaceful resolutions. However, the risk of military confrontations spilling over into broader regional instability remains a concern that is factoring heavily into currency movements. The financial impact on India is also underscored by the continued inflationary pressures faced by the country. While India has a relatively strong domestic economy, analysts warn that the ongoing uncertainty over the border conflict could undermine investor confidence, further destabilising the currency. This would place more pressure on the Reserve Bank of India , which may be forced to intervene in the markets to prevent excessive depreciation. For businesses and consumers, the weakening Rupee has meant higher costs for imported goods, particularly fuel and electronic products, which are crucial to India's economy. The cost of living for many Indian citizens is expected to rise, further intensifying socio-economic concerns. The rise in fuel prices has already led to protests in certain parts of India, with many calling on the government to address the economic fallout from the ongoing tensions. The Indian government, however, remains optimistic about the long-term outlook for the Rupee. According to finance ministry officials, the country's economic fundamentals remain robust despite the external geopolitical risks. They argue that the current currency depreciation is part of a broader, global trend, and that India is well-positioned to weather the storm with its growing foreign reserves and strong trade relationships beyond the subcontinent. Despite these assurances, many analysts argue that India's growing fiscal deficits and inflationary pressures could further complicate the Rupee's recovery. A sharp depreciation could potentially lead to an erosion of investor confidence, compounding the country's financial challenges.
Zawya
08-05-2025
- Zawya
Indian rupee, shares, bonds drop on signs of escalation in India-Pakistan conflict
The Indian rupee, equities and bonds dropped on Thursday, pressured by risk aversion after India said it pushed back Pakistani retaliation overnight. The rupee dropped 1% to 85.71, the Nifty 50 benchmark share index declined 0.6%, while the yield on India's benchmark 10-year bond rose 6 basis points. The markets came under pressure in late afternoon trading after the Indian government said it had "neutralised" attempts by Pakistan to "engage" several military targets. Pakistan, meanwhile, said it had shot down 25 drones from India in its airspace. "This is a knee-jerk reaction from the markets just as we had expected due to the escalation of border tensions," said Sandeep Bagla, CEO of Trust Mutual Fund. On Wednesday, India said it hit "terrorist infrastructure" in Pakistan two weeks after it accused the Islamic nation of involvement in an attack in Indian Kashmir in which 26 people, mostly Hindu tourists, were killed. The United States, Russia and China have urged the South Asian countries to exercise restraint. Volatility gauges for the rupee and Indian equities have spiked, reflecting the nervousness among market participants. The Nifty volatility index rose to a peak of 21.9 in intra-day trade, the highest since April 9, while the rupee's volatility has also spiked to an over two-year high. India's overnight index swap (OIS) rates also jumped, with the most-liquid five-year rate rising 12 basis points to 5.68% on the likely unwinding of speculative positions In Pakistan, trading in the benchmark share index was halted after the index slumped 6.3% on news of the drone attacks. The country's international bonds also extended recent losses. Cross-border developments are expected to stay in focus going forward, with market participants likely to remain risk-averse in the near term, traders said. "If the conflict were to escalate, worries might rise regarding important industrial / infra facilities located close to the India-Pakistan border," Jefferies said in a report dated May 7. "Based on precedents, we believe that any potential market correction on the back of escalation would be short-lived." In the medium term, traders expect the focus to return to fundamentals and the U.S.-India talks on a trade deal, following the UK-India trade deal. (Reporting by Jaspreet Kalra, Khushi Malhotra and Bharath Rajeswaran; Editing by Mrigank Dhaniwala)
Khaleej Times
29-04-2025
- Khaleej Times
Gold & Forex Rates
UAE Draft Rates April 28, 2025 Updated 1 day ago currencies morning evening yesterday Indian Rupee (INR) 23.06 23.11 Pakistani Rupee (PKR) 76.48 76.48 Bangladesh Taka (BDT) 33.23 33.23 Sri Lankan Rupee (LKR) 81.42 81.42 Nepalese Rupee (NPR) 36.98 36.98 Egyptian Pound (EGP) 13.81 13.83 Philippines Peso (PHP) 15.33 15.33 Source Sponsored by
