Currency Market

The rupee depreciated 9 paise to 95.17 against the US dollar in early trade on Thursday as the support from lower crude oil prices were offset by lingering geopolitical risks. At the interbank foreign exchange market, the rupee opened at 95.13, then touched 95.17 against the American currency, registering a fall of 9 paise from its previous close. On Wednesday, the rupee settled at 95.08 against the American currency. "For now the rupee finds itself caught between encouraging diplomatic headlines and lingering geopolitical risks.. Positive developments around Hormuz could help it revisit the 94.8095.00 zone," said CR Forex Advisors MD Amit Pabari. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 0.05 per cent higher at 99.72. Brent crude, the global oil benchmark, was trading 0.20 per cent lower at USD 79.29 per barrel in futures trade. On the domestic equity market front, Sensex climbed 201.43 points to 78,782.

The rupee strengthened by 13 paise to 95.63 against the US dollar in early trade on Thursday, supported by positive momentum in domestic equity markets and inflows of foreign capital. However, the Indian currency's gain was capped by a strong dollar index after the US Federal Reserve kept interest rates unchanged, forex traders said. At the interbank foreign exchange, the rupee opened at 95.59 and lost some ground to 95.63 against the greenback, registering a gain of 13 paise from its previous close. The rupee gained 6 paise to settle at 95.76 against the US dollar on Wednesday. The currency settled 17 paise higher at 95.82 against the US dollar on Tuesday, after gaining 74 paise in the previous two back-to-back sessions. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading up 0.06 per cent at 101.79. Brent crude futures, the global oil benchmark, were trading 1.26 per cent lower at USD 89.60 per barrel. According to .

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The rupee stayed on a downward track for the fifth straight day, losing 24 paise to 94.25 against the US dollar in early trade on Friday, weighed by volatile crude oil prices and an elevated US dollar, with prospects of West Asia peace talks turning hazier. Analysts said that despite a ceasefire in place between the United States and Iran, ship movement through the Strait of Hormuz remained uncertain after the US military on Thursday seized another Iranian oil tanker, intensifying the standoff and unsettling the fuel prices worldwide. President Donald Trump has also ordered the US military to "shoot and kill" small Iranian boats that deploy mines to choke traffic through the Strait of Hormuz. Unabated withdrawal of foreign funds from domestic stock markets also added to investors' worries, triggering a massive sell-off in equities and further dragging down the local currency, forex traders said. At the interbank foreign exchange market, the rupee opened at 94.25 and stayed at the s

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