Rupee

The rupee is expected to depreciate further against the US dollar, with RBI becoming increasingly selective in its intervention strategy, said Gaura Sengupta, chief economist, IDFC First Bank

The rupee was at 95.97 per dollar at 11:30 ‌a.m. IST in Mumbai, little changed from its close at 95.98 in the previous session

The ‌rupee declined to a low of 96.1475 per dollar, down nearly 0.2% on the day, before trimming losses on likely intervention by the Reserve Bank of India

The rupee recovered from an intraday low of 96.15 per dollar to close flat at 95.99, aided by RBI intervention, softer crude prices and foreign inflows

RBI's currency intervention must be limited

The rupee depreciated 20 paise to 95.95 against the US dollar in early trade on Monday, as the greenback strengthened further and foreign fund outflows continued unabated amid the ongoing West Asia conflict. Forex traders said elevated global crude oil prices put further pressure on the local unit. At the interbank foreign exchange market, the rupee opened at 95.89 against the American currency and lost further ground to touch 95.95 against the American currency, registering a loss of 20 paise from its previous closing level. On Friday, the rupee appreciated 24 paise to close at 95.75 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, traded at 101.11, up 0.15 per cent. Brent crude futures, the global oil benchmark, were trading higher by 2.31 per cent at USD 106.81 per barrel in futures trade. "Despite the Brent oil for November series being higher due to US President Donald Trump rejecting the peace pro

The central bank's concessional swap facility drove dollar inflows, while its outstanding net short position in the forward market surged to a record $136.77 billion

Commercial banks mobilised $133 billion in FCNR(B) deposits after the RBI opened its concessional swap window in June, prompting the scheme to close a month early

The rupee settled at 95.96 per dollar, while the benchmark 10-year government bond yield rose 6 basis points to 7.11 per cent, its highest level since May 21

Dollar sales by state-run banks, likely ‌on behalf of the Reserve Bank of India, limited losses and kept the rupee above 96 per dollar.

The rupee stayed weak, sliding 11 paise to 95.84 against the US dollar in early trade on Thursday, as geopolitical uncertainties led to a sharp surge in crude oil prices and pushed US bond yields as well as the greenback higher. Forex traders said the inflow of foreign capital failed to support the local currency due to the selling pressure in the domestic equity market and a strengthening American currency. At the interbank foreign exchange market, the rupee opened at 95.84 against the American currency and stayed under pressure, registering a loss of 11 paise from its previous closing level. The rupee ended Wednesday's session 11 paise lower at 95.73 against the US dollar, a day after appreciating 16 paise. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, traded at 100.87, up 0.06 per cent. Brent crude futures, the global oil benchmark, were trading lower by 0.97 per cent but remained elevated at USD 102.08 per barrel compare

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

Rupee depreciation finds a new ally

The rupee rebounded from over two-month low levels, gaining 16 paise to 95.73 against the US dollar in early trade on Friday, buoyed by a buying trend in domestic equity markets and easing crude oil prices overseas. Forex analysts said the retreat of crude prices below the 104-per-barrel level from a steep rise earlier this week eased pressure on the Indian currency, even as US bond yields fell from record highs after the US Federal Reserve hiked interest rates by 25 basis point. At the interbank foreign exchange market, the rupee opened at 95.75 and gained slightly to trade at 95.73 against the greenback in early deals, up 16 paise from its previous close. The local unit ended 2 paise higher at 95.89 against the American currency on Thursday, after declining 150 paise, or nearly 1.5 per cent, in the preceding eight sessions since the closing level of 94.43 against the greenback recorded on September 4. Meanwhile, the dollar index, which gauges the greenback's strength against a ..

The rupee staged a spirited recovery after slipping below the 96 level intraday and settled higher by 2 paise at 95.89 against the US dollar on Thursday on heavy dollar selling by banks, snapping its seven-day falling streak. The local currency breached the 96 level to hit a low of 96.10 to a dollar in day trade after a 25 basis point rate hike by the US Federal Reserve, sustained foreign fund outflows from stock markets and high crude oil rates. Forex traders said that dollar selling by banks on behalf of the RBI helped the local unit recoup losses and hit a high of 95.78 to a dollar. A slight correction in the dollar index and crude oil prices also supported investor sentiment despite global geopolitical volatility, they added. At the interbank foreign exchange market, the rupee opened higher at 95.88 but soon reversed gains and hit the intraday low of 96.10, breaching the 96 level for the first time since July 24. The unit recovered during the session and touched the high of 95.

Our currency policy is costly for people and generates small benefits for a subset

The Indian rupee may need to weaken further to align with shifting trade fundamentals and relatively weaker productivity gains from ​AI, according to an Axis Bank assessment

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 fell 3 paise to 95.91 against the US dollar in early trade on Wednesday, facing pressure from a strong American currency and outflow of foreign funds. Positive domestic equity markets, however, supported the local currency, even as crude oil prices remained elevated amid heightened tension in West Asia, forex traders said. At the interbank foreign exchange market, the rupee opened at 95.89 against the US dollar and fell further to 95.91, trading 3 paise lower from its previous close. The rupee settled 34 paise lower at 95.88 against the American currency on Tuesday, after weakening by 113 paise or more than 1 per cent in the preceding five sessions since the closing level of 94.43 recorded on September 4. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.38, higher by 0.04 per cent. The higher dollar index was attributed to market expectations of a hike in interest rate by the US Federal Reserve, whic

The domestic currency extended its losing streak to five sessions as rising crude oil prices, global bond yields and strong dollar demand weighed on the rupee