”The historical seasonality of March month favours rupee bulls as it has gained in 7 out of the last 10 years, the average gains pegged at 0.54 per cent,” Parmar added. The directional move of USDINR will depend on how the greenback performs among G-10 currencies and geopolitical updates. ![]() In the near-term, spot USDINR is expected to trade between 83 to 82.50. ”The central bank’s intervention, lower commodity prices and expectation of dollar inflows supported the local unit in Tuesday’s trade,” Parmar said. Global oil benchmark Brent crude futures advanced 0.75 per cent to USD 83.07 per barrel.Īccording to Dilip Parmar, Research Analyst, HDFC Securities, the Indian rupee gained along with most regional currencies ahead of the important economic data release. The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.03 per cent to 104.70. At the interbank foreign exchange market, the local unit opened at 82.69 against the American currency and finally settled at 82.64 (provisional) against the greenback, registering a gain of 15 paise over its previous close of 82.79.ĭuring the trading session, the rupee touched a high of 82.63 and a low of 82.75 against the dollar. The Indian diaspora in Australia has increased over the past years," he added.The rupee appreciated by 15 paise to close at 82.64 (provisional) against the US dollar on Tuesday, ahead of the release of key domestic macroeconomic data.įorex traders said the central bank’s intervention and lower commodity prices supported the local unit. "Our people-to-people contacts remain a strong pillar of our partnership. "We have progressed significantly in the areas of defence, security, investment, education, water, climate change and renewable energy, sports, science, health, culture, among others," Modi told the newspaper. He said that since his last visit the bilateral relationship has been "fundamentally transformed" by annual summits, an economic cooperation and trade agreement, and the elevation of relations to a comprehensive strategic partnership. He hoped the visit would allow both countries to identify new areas of cooperation, ranging from new technology, clean energy, critical minerals, mining, cyber space, building resilient supply chains to movement of skilled professionals, according to the interview. Australia understands India's position and it does not impact our bilateral relationship," Modi said. "An advantage of being good friends is that we can discuss freely and appreciate each other's viewpoint. He also rejected the suggestion that the bilateral relations would be harmed by India's "refusal" to criticise Russia as Australia has been high critical of the country over its war with Ukraine. Our navies are participating in joint naval exercises," he said. "The high degree of mutual trust between us has naturally translated into greater cooperation on defence and security matters. ![]() There is alignment of our strategic viewpoints," he said. "As two democracies, India and Australia have shared interests in a free, open and inclusive Indo-Pacific. ![]() He said he wants the two countries to push to realise the true potential of closer defence and security ties amid increasing defence links between the two countries recently. PM Modi arrived in Australia on Monday for the third and final leg of his three-nation tour during which he will hold talks with his Australian counterpart Anthony Albanese and attend a community event to celebrate the country's dynamic, diverse Indian diaspora. I am confident that when we are together again in Sydney, we will get the opportunity to explore how we can take our relations to the next level, identify new areas of complementariness and can expand our co-operation," he added. "I have seen that Prime Minister Albanese is the same. "I am not a person who gets satisfied easily," he was quoted by the newspaper as saying. In an interview to "The Australian" newspaper, he said he wants to take the relationship with Australia to the "next level", including closer defence and security ties to help ensure an "open and free" Indo-Pacific. Prime Minister Narendra Modi has said the Indo-Pacific region faces a number of challenges such as climate change, terrorism, security of sea lanes of communication and piracy, and asserted that India believes they can be addressed only through shared efforts.
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