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The Dollar Index (DXY00) has recently reached its highest level in 4-1/2 months, representing a gain of 0.48%. This increase in value was initially driven by a strong US February personal spending report released last Friday that instilled confidence in the dollar. Additionally, Federal Reserve Chair Powell’s comments on Friday, indicating a lack of urgency to lower interest rates, further supported the dollar’s rise.

On Monday, the dollar continued its ascension following the release of the March ISM manufacturing index, which exceeded expectations and signaled a hawkish stance on Fed policy. However, in contrast to this trend, the Reserve Bank of India introduced new regulations specifying that exchange-traded rupee derivative transactions should be used solely for hedging purposes.

This move by the Reserve Bank of India comes after their announcement in January that, starting April 5, exchanges would be permitted to offer forex derivative contracts involving the rupee for hedging contracted exposure. In light of these developments, viewers can gain further insights and analysis on this topic by tuning in to the latest episode of Commodities Corner hosted by Manisha Gupta and featuring Amit Pabari, Founder & Managing Director of CR Forex.

By Riley Johnson

As a content writer at, I dive into the depths of information to craft compelling stories that captivate and inform readers. With a keen eye for detail and a passion for storytelling, I strive to create engaging content that resonates with our audience. Whether it's breaking news, in-depth features, or thought-provoking opinion pieces, I am dedicated to delivering high-quality, informative content that keeps readers coming back for more. My goal is to bring a fresh perspective to every article I write and to make a meaningful impact through the power of words.

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