U.S. Dollar Index & State Bank of India

U.S. Dollar Index: Declined 1.3% in July, contributing to the rupee's stability by reducing dollar strength.

State Bank of India: RBI's proactive measures and forex intervention helped limit the rupee's decline, attracting USD 40.8 billion in inflows and supporting market confidence.

U.S. Dollar Index: The dollar index traded lower at 99.80, reflecting a softer US dollar, which contributed to the rupee's appreciation.

State Bank of India: The RBI's monetary policy decision is awaited, with expectations of a status quo on the repo rate at 5.25%. The central bank's tone on inflation will be crucial for the rupee and markets.

U.S. Dollar Index: The U.S. Dollar Index has slid due to the prospect of a deal to end the Iran war, although its dominance in global oil trade is being tested.

State Bank of India: The State Bank of India has implemented measures to contain the impact of the Iran war on the rupee and foreign exchange reserves, but faces increasing pressure to address inflation and slowing economic growth.

U.S. Dollar Index: The U.S. Dollar Index has strengthened due to shifts in United States — Federal Reserve expectations and its role as a safe-haven asset during geopolitical uncertainty.

State Bank of India: The State Bank of India's policy announcement has supported the strength of the Indian rupee.

U.S. Dollar Index: The U.S. Dollar Index was off its two-month high, reflecting broader currency market movements and reactions to U.S. economic data.

State Bank of India: The State Bank of India likely intervened to curb excessive volatility and prevent a further slide in the rupee against the US dollar.