Dollar index lingers around 2-month low - Business Standard
· Business · Business Standard
The U.S. dollar index, measuring the dollar against a basket of major currencies, traded around 102.3 earlier this week, close to its lowest level in two months. The index has slid from a recent high of about 103.5, reflecting a decline in dollar strength. Investors note that the dip coincides with mixed data on U.S. economic growth and uncertainty over future rate hikes by the Fed. The low level suggests a narrow trading range for the dollar and may influence currencies of trade partners.
Why it matters
A weaker dollar can lift commodity prices, including oil that India imports, and may reduce the cost of Indian exports in foreign currency terms. It also affects the rupee’s volatility against the U.S. dollar, impacting import bills and foreign‑investment flows into India.
Read the original report — Business Standard
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