Mumbai: Volumes in the dollar-rupee options market have surged in the first few trading days of 2024, and the direction of these trades shows market participants expect the rupee to rise.
Investors are expecting that India’s rupee will rally this year, and are expressing that view via currency options.
The rupee, on Monday, climbed to 82.7800 to the U.S. dollar, its highest in more than four months. It has gained 0.4% so far in January, while other major Asian currencies have fallen 1% to 1.5%.
Source: Oman News Agency
