The Indian rupee is underperforming among emerging Asian currencies due to the Reserve Bank of India’s (RBI) strategy to bolster its foreign-exchange reserves. The RBI’s dollar purchases to cover future obligations and replenish reserves are expected to exert downward pressure on the rupee, potentially leading to a depreciation to 86.50-87.50 per dollar by year-end.
Positive Breakout: These 11 stocks cross above their 200 DMAs
In the Nifty500 pack, 11 stocks’ close prices crossed above their 200 DMA (Daily Moving Averages) on July 16, according to stockedge.com’s technical scan data.