![]() ![]() Last Friday, the rupee was seen trading below the 82-level for the first time in a month to close at 81.96. The index jumped to 105.81 on Wednesday morning as compared with 104.42 on Monday. These operations and different stages in front end signal processing are described in the following sections. The Signal messaging app logo is seen on a smartphone, in front of the same displayed. Expectations of a larger, half-a-percentage-point rise in US policy rates later this month pushed the dollar index, which measures the greenback’s strength against a basket of six currencies, to a three-month high. Signal is down due to technical problems. “There were some reports of mild central bank intervention in the beginning to support the local currency,” said KN Dey, a forex market consultant. Oil companies were also seen buying dollars in the opening session, a trader said. The company says it is working hard to restore service as quickly as possible. The encrypted messaging app is experiencing technical difficulties and various users are getting an in-app error message that states the same. The rupee declined further to 82.2850, mirroring the weakness in the Chinese yuan, before a likely central bank intervention in the foreign exchange market buttressed the currency. The Signal app is down for many users across the world including India right now. Higher US rates typically hurt assets of emerging markets such as India, making returns on local assets relatively unattractive to overseas investors. ![]() The local monetary unit, meanwhile, opened the day with a 34-paisa gap at 82.26 against the US dollar, compared with the previous close of 81.92, tracking global sentiment. ![]()
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