Allowing its direct use would prevent the need for multiple currency conversions for Indian tourists and businessmen.
Sri Lanka may accept Indian rupee for local transactions
Rupee falls 4 paise to close at 81.97 against US dollar
a negative trend in domestic equity benchmarks also dented investor sentiment, forex traders said.
Buy GBPINR; target of : 102.20 : ICICI Direct
ICICI Direct, The pound edged higher by almost 0.50% on Wednesday amid a soft US dollar and rise in UK 10 years bond yields.
Sell EURINR; target of : 89.20 : ICICI Direct
ICICI Direct, The Euro tumbled more than 0.40% yesterday amid an uptick in the US dollar.
Buy USDINR; target of : 82.20 : ICICI Direct
ICICI Direct, The US dollar index edged up on Friday as job data from the US signalled that the Fed may increase interest rates by another 25 bps in the next meeting.
Sell USDINR; target of : 81.80 : ICICI Direct
ICICI Direct, The US dollar index rose on Wednesday, recovering from two-month lows as investors lightened their short positions to book profits ahead of the US non-farm payrolls report on Friday.
Sell EURINR; target of : 90.20 : ICICI Direct
ICICI Direct, The Euro appreciated by more than 0.50% on Tuesday amid weakness in the US dollar.
Indian rupee likely to strengthen towards 79 by end-FY24: UBS Securities
The rupee is likely to strengthen towards 79 by end-FY24 from an average of 82 to the US dollar in FY23, Tanvee Gupta Jain, the chief India economist at UBS Securities said in a note.
Sell USDINR; target of : 82.05 : ICICI Direct
ICICI Direct, The US dollar index bounced back from its weekâs low after sliding towards the key 102 level.
Sell EURINR; target of : 88.30 : ICICI Direct
ICICI Direct, The Euro slid the most on Friday after European banking concerns diminished the bullish bets on the Euro.