Currency Market

Poll respondents expect the depreciation bias to persist, with some suggesting that the RBI may need to raise interest rates more aggressively to counter pressure on the rupee

Global headwinds, balance of payment remain key to stability

The rupee fell 0.5 per cent to 96.31 per dollar, while the benchmark 10-year bond yield rose to 7.21 per cent as Brent crossed $100 a barrel ahead of the RBI policy meeting.

On the other hand, the yield on the benchmark 10-year government bond has risen by around 13 basis points during the same period.

The Indian rupee fell past the 96-per-dollar mark during intra-day trade on Tuesday, hitting a two-month low as higher crude prices triggered worries in energy markets.

From RBI intervention in the rupee and questions over electoral-roll revisions to distressed assets, India's growth challenges and political grief, today's opinions examine institutional and economic

RBI's currency intervention must be limited

DEA Secretary Anuradha Thakur said BRICS discussions include interoperability of payment and messaging channels and the use of local currencies for trade and investment

RBI Deputy Governor Poonam Gupta sees a case for rupee appreciation as the current account deficit shrinks and capital flows improve, potentially later this financial year.

The rupee settled at 95.59 per dollar as falling crude prices and likely dollar sales by state-run banks supported the currency; the 10-year bond yield fell 4 bps

Deposit growth hits 15-year high as FCNR(B) mobilisation; incremental credit-deposit ratio softens to 62.6%

The Fed raised interest rates by 25 basis points on ​Wednesday, its first increase since 2023, with officials expecting one more increase ​this year.

The rupee depreciated 25 paise to 95.33 against the US dollar in early trade on Thursday as Brent crude price crossed the USD 100 dollar mark sharply increasing concerns over India's import bill. Forex traders said elevated crude oil prices and persistent dollar demand also weighed on investor sentiments. At the interbank foreign exchange market, the rupee opened at 95.15 against the US dollar, then lost ground to touch 95.33 against the American currency, registering a loss of 25 paise from its previous close. On Wednesday, the rupee slumped 34 paise to close at 95.08 against the American currency. "Rupee's move beyond the psychologically important 95 level also triggered some additional dollar demand and stop-loss activity. However, the decline was contained by RBI intervention," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was

The rupee fell 13 paise to trade at 95.56 per US dollar on Monday morning pressured by rising crude oil prices and geopolitical strain. Forex traders said market participants have raised the probability of a September Fed rate hike, pushing US Treasury yields higher and triggering a broad dollar rally, denting investor sentiments further. At the interbank foreign exchange market the rupee opened at 95.56, registering a fall of 13 paise from its previous close. On Friday, the rupee rose marginally by 2 paise to settle at 95.43 against the US dollar. The rupee opened lower as the dollar index was at 99.62 level, while most other assets fell from their levels on Friday, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. The rupee is expected to be in the range of 95.25 to 95.75 with exporters to sell near 95.60 levels and importers to buy all dips that they get with no directional movement being seen in the currencies, Bhansali ...

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 .

Money changers say ambiguity over the principal-agent framework, liability and compliance could delay the rollout of the new forex correspondent category

Today's opinions explore India's external vulnerabilities, the concentration of global capital in US technology, energy reforms, disclosure norms, and a nuanced portrait of Kashmir through the Chenab

RBI's incentives may attract short-term foreign inflows and ease pressure on the rupee, but they do little to address weak FDI and sustained foreign investor outflows

Barclays and MUFG warn the rupee could face further pressure from elevated crude prices, widening deficits and prolonged conflict in West Asia