Singapore Dollar Remains Stable Before U.S. July PCE Report
Singapore Dollar Stability: The Singapore dollar remains steady against the U.S. dollar, with investors awaiting key U.S. inflation data on Friday that could influence Federal Reserve rate cuts.
Indian Rupee Depreciation Pressure: The Indian rupee is under significant depreciation pressure due to new U.S. tariffs, which include a 50% levy on Indian goods, affecting its exchange rates.
Impact of Tariffs on Indian Exports: While India experienced a boost in exports to the U.S. in the second quarter, this trend may decline in the second half of the year due to the impact of tariffs.
RBI's Currency Defense Strategy: The Reserve Bank of India may reduce its currency defense efforts if negative external factors persist, as indicated by HSBC forex research analysts.
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