Rupee

Today's Opinion page covers Trump's tariff strategy, the Supreme Court's passive euthanasia ruling, rupee depreciation amid West Asia tensions, farm diversification and a Syria war book review

Third year of consecutive BoP deficit if oil stays above $100/bbl, to weigh on rupee

The rupee fell to a fresh intraday low of 92.48 against the dollar on Friday as rising crude oil prices and global risk aversion amid West Asia tensions pressured the local currency

The rupee fell to an all-time low of 92.4250 to the US dollar on Friday and it has lost about 1.5 per cent since the war broke out on February 28

The Indian Rupee fell 32 paise, or 0.35 per cent, to 92.36 against the greenback, according to Bloomberg

The rupee weakened to 92.04 per dollar on Wednesday as rising crude oil prices, geopolitical tensions in West Asia and equity outflows weighed on the currency

The currency was last up 0.15 per cent at 92.18, still close to its all-time low of 92.3475 hit in the previous session

Sunaina Da Cunha, Co-CIO (Debt) at Aditya Birla Sun Life AMC, said that the geopolitical situation in West Asia is likely to continue injecting volatility into the currency markets

An over 20 per cent ​jump in ‌oil prices triggered a broad-based ‌selloff in Asian stocks and currencies on ‌Monday as ​investors fretted over ​the deepening conflict in the Middle East

The scale of the intervention underscores the challenge the Reserve Bank of India faces in containing volatility triggered by the Middle East conflict that has entered its seventh day

After breaching 92 per dollar, the rupee rebounded sharply on RBI's heavy dollar sales, becoming the best-performing Asian currency even as geopolitical risks kept markets cautious

The rupee slid to a new low of 92.30 per dollar as tensions in West Asia drove crude higher, before recovering after RBI sold dollars and bought bonds to curb volatility

The domestic currency opened 55 paise weaker at 92.03 against the greenback, a day after closing at the 91.47 mark

The rupee saw its sharpest fall in over five weeks as crude oil prices surged on rising West Asia tensions; RBI interventions helped prevent the currency from breaching the 91.5-per-dollar level

The ‌traders noted that the central bank's dollar sales via state-run banks were not aggressive, and were likely intended to limit volatility

The outlook for the rupee may also be clouded by renewed uncertainty after the US Supreme Court struck down several of President Donald Trump's tariffs

The Indian rupee fell to its then-record low of 91.0750 on December 16, pressured by worries over a trade stalemate with the US and persistent foreign outflows

The rupee was headed for a largely flat open before the unexpected intervention, with Asian peers showing little reaction to the upside surprise in US payrolls

The rupee strengthened against the dollar tracking gains in Asian currencies, but upside was capped by strong dollar demand from large corporates, dealers said

The foreign lender had earlier forecast the currency at 90.50-91.00 levels