Indian Rupee

The rupee fell 6 paise to 94.69 against the US dollar in early trade on Tuesday as the greenback strengthened further to hover around its 13-month high. FII outflows and a weaker start to the morning trade at the domestic equity markets put further pressure on the rupee while a decline in crude oil prices cushioned against a steeper decline, forex traders said. At the interbank foreign exchange, the rupee opened at 94.73 against the US dollar before rising to 94.69, down 6 paise from its previous close. The rupee depreciated 30 paise to close at 94.63 against the US dollar on Monday. "The rupee opened weaker against the US dollar, as mounting expectations of a Federal Reserve rate hike and broad-based dollar strength weighed on Asian currencies. The greenback hovered near a 13-month high, supported by optimism surrounding US-Iran peace negotiations and weakness in major currencies, particularly the British pound and Japanese yen," Pinky Yadav, Commodity Fundamental Analyst at Choic

The rupee depreciated 15 paise to 94.48 against the US dollar in early trade on Monday, weighed down by the strength of the American currency in the overseas market. Forex traders said the rupee witnessed volatility as steady debt and deposit inflows pulled the domestic currency in one way, while a nervous Middle East and a firm dollar pulled it the other way. At the interbank foreign exchange market the rupee opened at 94.42, registering a decline of 9 paise from its previous close. In initial trade it also touched 94.24 against the American currency. On Friday, the rupee pared most of its initial gains and settled higher by 7 paise at 94.33 against the US dollar. "Technically, the 94.0094.20 zone continues to act as a key support area, while 94.8095.00 remains the immediate resistance band. With debt inflows showing signs of improvement and oil prices staying relatively contained, the bias remains mildly in favour of rupee appreciation, with USD/INR potentially drifting towards

The rupee appreciated 20 paise to 94.20 against the US dollar in early trade on Friday on optimism that trade negotiations between India and the United States are set to gain momentum. Forex traders said the rupee opened on a positive note with oil prices remaining supportive and foreign inflows improving. The overall bias remains positive for the rupee, they said. Moreover, Indian Foreign Secretary Vikram Misri on Thursday said trade was a major subject of discussion between Prime Minister Narendra Modi and US President Donald Trump, with both leaders directing their negotiators to finalise the proposed trade pact at the earliest. At the interbank foreign exchange market the rupee opened at 94.30, then gained momentum and touched 94.20, registering a gain of 20 paise from its previous all-time closing low. On Tuesday, the rupee settled 10 paise higher at 94.40 against the US dollar. "The RBI is expected to use incoming dollar flows to rebuild forex reserves and gradually reduce i

The RBI's short-dollar ​forward book is estimated to have ballooned to an all-time high of nearly $110 billion, according to two ‌officials at foreign banks, up from $96 billion in April

The rupee depreciated 21 paise to 94.71 against the US dollar in early trade on Thursday on US Federal Reserve's hawkish stance and the broad strength of the American currency in the overseas market. Forex traders said the dollar Index rose to 100.23 levels, a 4-month high, due to a hawkish FED. The FED Reserve held interest rates steady as widely anticipated but implied that at least one quarter-point rate hike would come later this year. At the interbank foreign exchange market the rupee opened at 94.66, then touched 94.71, registering a fall of 21 paise from its previous close. On Wednesday, the rupee appreciated 10 paise to close at 94.50 against the US dollar. "Asian currencies had also weakened considerably, taking the rupee lower this morning. Most asset classes had fallen against the dollar keeping it well bid while the asset class was well offered," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. Meanwhile, the dollar index

The rupee surrendered most of its intraday gains as importer demand for dollars and likely RBI purchases offset support from softer crude oil prices

The rupee appreciated 31 paise to 94.29 against the US dollar in early trade on Wednesday as Brent crude oil prices and the US dollar index retreated further from their elevated levels. Forex traders said the rupee opened on a positive note as Brent crude has fallen to near USD 79 per barrel -- a three-month low -- as markets price in the reopening of the Strait of Hormuz following the US-Iran framework. At the interbank foreign exchange market the rupee opened at 94.46, then touched 94.29, registering a gain of 31 paise from its previous close. On Tuesday, the rupee ended 2 paise lower at 94.60 against the US dollar. In the last three sessions the rupee has recovered 130 paise since the US-Iran deal framework emerged. "The rupee's bias has shifted. On the upside, 95.00-95.30 is now a strong resistance zone for USDINR. With expectations of strong foreign capital inflows and USDINR having decisively broken below the 94.80 level, the pair could gradually move towards the 94.0093.80

SBI plans to launch rupee-denominated deposits in Sri Lanka to boost the use of the Indian currency in bilateral trade and investment

The rupee appreciated 5 paise to 94.53 against the US dollar in early trade on Tuesday, as a sharp decline in oil prices and easing Middle East tensions have shifted the near-term bias in favour of the domestic unit. Forex traders said the immediate threat to global energy supplies has significantly reduced, following easing of tensions in the Middle East. Brent crude fell more than 6 per cent, moving closer to the USD 82 per barrel mark. For India, which imports nearly 90 per cent of its oil requirements, lower crude prices are often like a favorable wind behind a ship supporting the rupee. At the interbank foreign exchange market, the rupee opened at 94.69, then gained momentum and touched 94.53 in initial trade, registering a rise of 5 paise from its previous close. On Monday, the rupee strengthened 60 paise to settle at 94.58 against the US dollar. Forex traders said with oil prices moving in India's favor and foreign inflows remaining supportive, the near-term outlook for the

The medium-term outlook for the banking sector remains constructive, supported by healthy credit growth, stable asset quality and improving liquidity conditions, says Motilal Oswal.

Indian markets rallied as easing West Asia tensions and a sharp fall in crude oil prices boosted the rupee, bonds and equities

While foreign firms have been reluctant to invest in India, Indian firms have been expanding their investment abroad

The Indian currency strengthened against the dollar as crude oil prices declined sharply, while benchmark bond yields fell to their lowest level in two months

Economists have upgraded their outlook for India's balance of payments following the RBI's measures, with most now expecting a marginal surplus this fiscal year

The rupee rose 58 paise against the greenback to 94.60 in early trade on Monday as global crude oil prices dropped sharply after US President Donald Trump announced that the US and Iran finalised a deal to end the war. A strong start to the day at the domestic equity markets and a weaker US dollar further drove the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 94.70 against the US dollar before rising further to 94.60, up 58 paise from its previous close. The rupee surged 67 paise to close at 95.18 against the greenback on Friday. The US and Iran finalised a deal to end their 107-day war and open the Strait of Hormuz, the narrow waterway used to ferry one-fifth of the global oil supplies, on Friday after an in-person signing of the agreement in Switzerland. US President Donald Trump made the announcement on Truth Social on Sunday evening, easing pressure on the global energy markets, as officials said the peace agreement would be signed on

The rupee appreciated sharply and government bond yields eased as lower crude oil prices and hopes of a US-Iran agreement improved investor sentiment

The rupee surged 65 paise to 95.20 against the US dollar in early trade on Friday as global crude oil prices retreated after US President Donald Trump indicated an imminent deal with Iran. A weaker greenback and positive sentiment at the domestic equity markets provided further boost to the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 95.40 before rising further to 95.20 against the greenback. The rupee had plunged 60 paise to settle at 95.85 against the US dollar on Thursday. "The rupee opened stronger on Friday, fuelled by a sharp retreat in global crude oil prices. This relief comes in the wake of statements from US President Donald Trump indicating an imminent deal with Iran and the cancellation of planned military strikes," Aamir Makda, Commodity & Currency Analyst, Commodity Technical Research, Choice Broking, said. "We expect the rupee... to maintain a positive bias between 95 and 95.30 throughout the day. While the Reserve

The clock is ticking on the capital inflows that the recent measures of the government and the RBI are expected to garner

The rupee plunged by 32 paise to 95.57 against the US dollar in early trade on Thursday following a rise in global crude oil prices as hostilities between the US and Iran continued. Heavy FII outflows, weak domestic equity market and a marginally stronger greenback further weighed on the local unit. At the interbank foreign exchange market, the rupee opened at 95.55 against the US dollar before dropping further to 95.57. The local unit appreciated 16 paise to close at 95.25 against the US dollar on Wednesday, amid likely intervention from the Reserve Bank of India (RBI) to curb excessive volatility and prevent a further slide in the domestic unit. "The rupee had a weaker opening with oil prices climbing after Iran and the United States traded strikes. INR has support due to dollar selling by state-run banks, likely on behalf of RBI. "Apart from oil prices, the rupee will have to contend with a tepid risk environment, following a further sell-off in US equities. While US inflation

The rupee was at 95.27, up modestly ‌on the day after hitting an intra-day low of 95.5625 in early trading