The US Dollar to Rupee exchange rate (USDINR) was flat on Friday after declining 0.26% in the previous session as oil prices rose for the second straight session, dimming demand for the Asian currency. At the time of writing, the USD/INR was trading at 83.11, unchanged from Thursday’s 83.12 close. On September 21st, JP Morgan said it would include Indian bonds in its GBI-EM index, with a maximum weightage of 10%, beginning from June 28th, 2024. The top US bank further said the inclusion will be phased over ten months, and according to HSBC Fixed Income Research. “this will result in USD20-22bn of bond inflows.” … (full story)

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