WebinarsNew
Deep DiveNew
Explore Business Standard
Rupee Vs Dollar
The rupee traded in a narrow range and edged up by just 4 paise to 95.03 against US dollar in early trade on Wednesday amid elevated crude oil prices and strong dollar. Forex traders said rupee is under pressure amid persistent macroeconomic headwinds, including global dollar strength and Brent crude prices hovering near USD 115 per barrel. At the interbank foreign exchange market, the rupee recorded marginal gains and touched 95.03, registering a rise of 4 paise over its previous close. On Tuesday, the rupee closed at 95.07 against the American currency. "We expect the rupee to trade with a slight negative bias on positive dollar and weak Asian currencies. Crude oil prices remain elevated which may also keep rupee under pressure," said Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan. Any intervention by the RBI may support the rupee at lower levels. Investors will watch out for the FOMC decision. "Fed is expected to keep rates unchanged but markets will watch out for F
The rupee remained volatile and depreciated 7 paise to 95.22 against the US dollar in early trade on Tuesday, weighed down by elevated crude oil prices, geopolitical uncertainty, and a stronger greenback ahead of the US Federal Reserve's policy decision. Forex traders said the Indian currency showed some recovery on likely intervention by the Reserve Bank of India (RBI), but failed to withstand pressure from foreign fund outflows amid subdued domestic equity market sentiment. At the interbank foreign exchange market, the rupee opened at 95.17 and pared some losses to touch 95.11 but soon lost ground to trade at 95.22 against the greenback, lower by 7 paise from its previous close. On Monday, the rupee depreciated for the third consecutive day and settled 22 paise lower at 95.15 against the US dollar. In the last three sessions, the rupee has lost 77 paise against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, w
The rupee traded in a narrow range and fell 5 paise to 94.98 against the US dollar in early trade on Monday, weighed down by elevated crude oil prices and geopolitical tensions in the Middle East. Forex traders said the rupee opened on a negative note on risk aversion in global markets amid escalation of tensions in the Middle East. However, softness in the US Dollar and US treasury yields cushioned the downside. At the interbank foreign exchange market, the rupee opened at 94.92, then lost ground to touch 94.98, lower by 5 paise over its previous close. On Friday, the rupee depreciated for the second consecutive day and fell 12 paise to close at 94.93 against the US dollar. The Indian rupee opened slightly lower on elevated crude oil prices and geopolitical tensions in the Middle East. However, softness in the US Dollar and US treasury yields cushioned the downside," said Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan. "We expect the rupee to trade with a slight negative
The rupee traded in a narrow range and edged up 3 paise to 94.78 against the US dollar in early trade on Friday amid elevated crude oil prices and foreign fund outflows. Forex traders said rupee is under pressure amid persistent macroeconomic headwinds, including global dollar strength and Brent crude prices hovering near USD 113 per barrel. At the interbank foreign exchange market, the rupee opened at 94.78, registering a gain of 3 paise over its previous close. On Thursday, the rupee closed at 94.81 against the American currency. Foreign investors turned cautious seeking safe-haven greenback assets amid elevated US Treasury yields, 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 trading at 101.64, higher by 0.04 per cent. Brent crude, the global oil benchmark, was trading higher by 0.42 per cent at USD 113.65 per barrel in .
The rupee appreciated 29 paise to 94.62 against the US dollar in early trade on Wednesday, supported by positive sentiments in the domestic market and support from the RBI. Besides, the rupee got a boost from the foreign dollar inflows tied to the Jio IPO, which opened for public subscription on Wednesday, according to analysts. However, elevated crude oil prices and a firm US dollar capped the gains. At the interbank foreign exchange market, the rupee opened stronger at 94.78, and then gained further ground to touch 94.62 against the American currency, registering a gain of 29 paise from its previous close. On Monday, the rupee settled lower by 2 paise at 94.91 against the US dollar. The forex market was closed on Tuesday on account of Dussehra. ''This strength is primarily underpinned by foreign dollar inflows tied to the Jio IPO alongside support from the Reserve Bank of India (RBI). To navigate dollar flows during the IPO allotment process, foreign investors are largely rely
The rupee gained 9 paise to 94.80 against the US dollar in early trade on Monday, supported by the ongoing impact of the Reserve Bank of India's structural forex interventions. Forex traders said the rupee has witnessed its sharpest rally in seven months. However, the surge in Brent crude oil to USD 110 per barrel poses the biggest threat to this recovery. The rupee is inching closer to a key support level near 94. Constant pressure from high crude prices, rising US Treasury yields, and steady foreign capital outflows has forced the RBI to step up its market intervention, they said. At the interbank foreign exchange market, the rupee opened at 94.90 then touched 94.80 against the American currency, registering a gain of 9 paise from its previous close. On Friday, the rupee settled 10 paise higher at 94.89 against the US dollar. "With USDINR holding below 95.00 for the last 3 sessions, the focus shifts to 94.8094.70. A sustained break below 94.80 could open the way towards 94.00 ov
The rupee appreciated 20 paise to 94.79 against the US dollar in early trade on Friday on softening of the American currency and the positive impact of the RBI' structural forex interventions. Lower US treasury yields also supported the domestic currency. However, elevated crude oil prices and decline in equity markets restricted the rupee's sharp gains. At the interbank foreign exchange market, the rupee opened at 94.75, then touched 94.79, registering a gain of 20 paise over its previous close. On Thursday, the rupee had appreciated 18 paise to close at 94.99 against the US dollar. " Decline in dollar index and softening of US treasury yields also supported the rupee. However, a surge in crude oil prices capped sharp gains. On the data front, US PPI (Producer Price Index) was hotter than expected while retail sales topped forecast. Weekly unemployment claims were in line with expectations," said Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan. The dollar index, which
The rupee appreciated 44 paise to 94.92 against US dollar in early trade on Wednesday, supported by Reserve Bank of India interventions designed to ease near-term dollar demand and limit speculative foreign exchange exposure. Forex traders said the USD/INR pair, which has gained nearly 2 per cent in the last three trading sessions, opened on a positive note on Wednesday, largely driven by regulatory measures implemented by the RBI to limit volatility and curb speculative trading. A sustained move below the 95.00 threshold opens potential toward 94.50, but ongoing external macroeconomic pressures are likely to temper further gains, they said. At the interbank foreign exchange market, the rupee opened at 95.05, then gained ground to touch 94.92, registering a gain of 44 paise over its previous close. On Tuesday, the rupee strengthened for the third straight session and appreciated 42 paise to close at 95.36 against the US dollar. Meanwhile, Finance Minister Nirmala Sitharaman on Tue
The rupee appreciated 82 paise to 94.96 against US dollar in early trade on Tuesday, supported by various RBI measures aimed at reducing immediate dollar demand and curbing excessive positions in the foreign exchange market. Forex traders said measures including a dedicated dollar window for oil marketing companies through designated banks and higher costs for certain foreign exchange hedging transactions, are expected to reduce dollar demand in the spot market and curb speculative positions against the rupee. At the interbank foreign exchange market, the rupee opened at 95.53, then gained ground to touch 94.96, registering a gain of 82 paise over its previous close. On Monday, the rupee appreciated 93 paise, logging its steepest single-day gain in more than six months, to close at 95.78 against the US dollar. "With the RBI's measures supporting the rupee, we expect USD/INR to move towards 95.0094.80 range in the near term," CR Forex Advisors MD Amit Pabari said. The RBI on Saturd
The rupee appreciated 23 paise to 96.65 against US dollar in early trade on Friday, supported by a slight softening in the US dollar and suspected intervention by the Reserve Bank of India. Forex traders said the rupee opened on a positive note this morning with the dollar index down to 102 levels and Brent also down to USD 103.39 per barrel after US President Donald Trump said that the attack on Iran will happen only after the midterm elections. However, broader geopolitical pressures on the domestic currency persist and relentless foreign fund outflows is pressurising the domestic unit further, they said. At the interbank foreign exchange market, the rupee opened at 96.74, then gained some ground to touch 96.65, registering a rise of 23 paise over its previous close. On Thursday, the rupee depreciated by 13 paise to close at 96.88 against the US dollar. "Sustained strength in the US Dollar Index (DXY trading near multi-month highs near to 102.50), Brent crude prices firming back
The rupee traded in a narrow range and edged up 10 paise to 96.65 against US dollar in early trade on Thursday on likely intervention by the Reserve Bank of India. Forex traders said rupee is under pressure amid persistent macroeconomic headwinds, including global dollar strength (DXY trading near multi-month highs), elevated Brent crude prices hovering near USD 102 per barrel. Moreover, relentless foreign fund outflows as well as fall in forex reserves by USD 50 billion in just three weeks from the high of USD 786 billion in September dented investor sentiments further. At the interbank foreign exchange market, the rupee opened at 96.71, then gained some ground to touch 96.65, registering a rise of 10 paise over its previous close. On Wednesday, the rupee closed at 96.75 against the American currency. "Strong corporate importer demand for dollars together with safe-haven capital shifts overpowered the RBI's hawkish policy stance, driving USD/INR higher through the afternoon unti