Indian Rupee Rate (INR) Indian Rupee Forecast
Morning Briefing

Structure of the Indian Rupee Market

Contents
  1. Introduction
  2. The Spot Market
  3. The Forward Market
  4. Strict Regulation
  5. Forces Impacting the Rupee
  6. Hedging Instruments
  7. The Exchange Rate Management Policy
    and Capital Account Convertibility

  8. The Future
  9. External Sector Figures

This section is dated. It is relevant for understanding the market structure. For market movements refer to The Colour of Money.

Introduction

Last Updated on 28/2/97

The Indian Rupee (Swift Code INR) depreciated sharply against the Dollar, from Rs 31.40 to the USD in June '95 to 38.35 in February '96 (down 22.1%), regained to 34.20 by March 1996 before falling again to 35.70 by June-July 1996. Since then the currency has been steady in a broad range of 35.60 to 36.00, reminiscent of the time from mid 1993 to mid 1995, when the Rupee held "rock steady' at Rs 31.37 to the USD.

INR Spot graph
After wild gyrations from Oct '95 to June '96, the Indian Rupee has found stability in the range of 35.60-36.00

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