Rupee

The Reserve Bank of India (RBI) is working on providing more avenues for the usage of Indian rupee (INR) accumulated by the Russian trade counterparts, a senior official said on Thursday. The Central Bank is looking at avenues to either settle Indian rupees of Russian trade counterparts lying in India for imports or for making capital investments in India, he added. "We are working on providing various avenues for using the INR, which is accumulated here by the Russian counterparts, to use it either for settling their imports or making capital investments in India, so on and so forth," N Senthil Kumar, chief general manager in RBI's Foreign Exchange Department, said at the Russia-India forum in Mumbai. For the past few years, both countries have focused on local currencies to settle bilateral trade and reduce reliance on the US Dollar. Last year, the RBI was allowed to invest surplus balances in government securities. Kumar noted an "inertia" among stakeholders in transacting in lo

Currency weakens on importer demand and thin dollar liquidity, with trade deficit concerns and Fed policy outlook weighing on sentiment

The rupee closed at 92.63 per dollar, eclipsing its previous lifetime low of 92.4750 hit last week

Brent crude is up nearly 40 per cent since the conflict in the West Asia began, threatening India's external balances and weighing on its inflation-growth balance

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