Forex Market

RBI net sells $6 billion in spot forex market in May amid volatility

The central bank remained a net seller of dollars in May to curb rupee volatility amid higher crude oil prices, though interventions eased from April levels

RBI intervenes to support rupee as it nears record low on oil price surge

The Reserve Bank of India sold dollars in both offshore and onshore markets, traders familiar with the matter said

Rupee rises 14 paise to 96.28 against US dollar during early trade

The rupee gained 14 paise to 96.28 against the US dollar in early trade on Friday buoyed by positive sentiments at the domestic equity markets. However, heavy FII outflows and higher global crude oil prices amid heightened tensions in West Asia prevented further gains in the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 96.35 against the greenback before rising further to 96.28, up 14 paise from its previous close. The rupee depreciated for the fourth straight day on Thursday, shedding 17 paise to settle at 96.42 against the US dollar. The US expanded its airstrike campaign against Iran early on Friday by increasingly hitting bridges, part of President Donald Trump's threats to start striking infrastructure to pressure Tehran to ease its chokehold on the Strait of Hormuz. Iran launched new missile attacks against US-allied nations in West Asia and warned that its attacks would escalate. "Continued geopolitical uncertainties in West Asia ...

Rupee slips 6 paise to 96.31 against US dollar during early trade

The rupee declined 6 paise to 96.31 against the US dollar in early trade on Thursday amid volatility in global crude oil prices and a stronger greenback with the West Asia crisis showing no signs of abating. FII outflows continued to weigh on the local unit while a positive start to the day at the domestic equity markets provided support, according to forex traders. At the interbank foreign exchange, the rupee opened at 96.28 against the greenback before slipping further to 96.31 from its previous close. The local unit had on Wednesday extended its slide for the third straight day and settled 9 paise lower at 96.25 against the US dollar. The United States intensified its strikes targeting Iran early on Thursday, hitting targets further north as American forces also fired into a ship it accused of trying to break its naval blockade on the Islamic Republic. Iran retaliated with missile and drone fire targeting Bahrain and Kuwait before dawn. Days of back-and-forth strikes by the US

Rupee slips 4 paise to 95.52 against US dollar during early trade

The rupee fell 4 paise to 95.52 against the US dollar in early trade on Thursday, weighed down by surging crude oil prices after fresh tensions in West Asia rattled sentiments worldwide, raising fears of uncertainties over global trade. According to analysts, oil prices soared to their highest point in weeks after President Donald Trump announced an end to the ceasefire with Iran in response to Iranian attacks on commercial ships in the Strait of Hormuz and on American military sites in other Gulf nations. However, positive sentiment in domestic equity markets supported the Indian currency, they said. At the interbank foreign exchange market, the rupee opened at 95.52 and remained weaker against the US dollar, down 4 paise from its previous close. On Wednesday, the rupee plunged 52 paise to settle at 95.48 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 100.98, down 0.09 per cent. Brent c

Rupee tumbles to one-month low; crude spike pushes bond yields higher

The rupee recorded its sharpest one-day fall in a month on rising crude oil prices and renewed West Asia tensions, while the benchmark 10-year government bond yield climbed

Net short forward dollar position rose to $106 bn in May: RBI data

RBI's net short dollar position in the forward market rose to $106.66 billion in May, with increases across both short- and long-term maturity buckets

Rupee falls 7 paise to 94.58 against US dollar despite stable oil prices

The rupee fell 7 paise to 94.58 against the American currency in early trade on Tuesday, as month-end demand for dollars from importers and corporates added pressure on the domestic unit. Forex traders said the losses for the rupee were partly cushioned by relatively stable crude oil prices globally. However, concerns about potential supply disruptions in the Gulf and continued uncertainty around the Strait of Hormuz weighed on investor sentiments. At the interbank foreign exchange market, the rupee touched 94.58 against the US dollar, registering a loss of 7 paise from its previous close. On Monday, the rupee pared initial gains and settled lower by 6 paise at 94.51 against the dollar. "As June draws to a close, month-end and quarter-end dollar demand has started showing up once again. Importers, corporates, and banks typically use this period to square positions and meet payment obligations, creating additional demand for dollars," CR Forex Advisors MD Amit Pabari said. The dol

Rupee rises 31 paise to 94.24 against US dollar as oil prices fall

The rupee rose 31 paise to 94.24 against the US dollar in early trade on Thursday as global crude oil prices continued to decline and went below levels seen before the start of the West Asia conflict. A weaker greenback and positive sentiments in the domestic equity market further supported the local unit while heavy FII outflows prevented a sharper rise, forex traders said. At the interbank foreign exchange market, the rupee opened at 94.30 against the US dollar and strengthened further to 94.24, up 31 paise from its previous close. The rupee appreciated 21 paise to settle at 94.55 against the US dollar on Wednesday. "The rupee opened stronger at 94.30 against the US dollar, supported by a sharp decline in global crude oil prices, which fell below levels seen before the Iran conflict. Brent crude is down more than 10 per cent this week and above 21 per cent for the month, easing concerns over India's import bill and supporting the domestic currency," Pinky Yadav, Commodity ...

Rupee snaps 6-day winning streak on US dollar demand from importers

Domestic currency weakens against the dollar as importer demand and IPO-linked outflows outweigh support from FCNR, ECB inflows and improving global risk sentiment

RBI defended rupee with $8.94 billion net dollar sale in April: Bulletin

The central bank remained a net seller in the spot forex market as the rupee came under pressure from geopolitical tensions and persistent foreign outflows

Rupee rises 20 paise to 94.20 against US dollar as Hormuz blockade ends

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

Rupee sheds gains on dollar demand despite lower crude oil prices

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

Rupee rises 5 paise to 94.53 against US dollar as West Asia tensions ease

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

Rupee risks persist as oil shock could outpace policy response

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

RBI likely stepped in to support rupee, conducts swaps, say traders

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

Rupee rises 20 paise to 95.41 against US dollar as West Asia tensions ease

The rupee rose 20 paise to 95.41 against the US dollar in early trade on Tuesday as Brent crude oil prices and the US dollar index retreated from their elevated levels after a pause in US-Iran hostilities. Forex traders said the rupee opened on a positive note after Israel and Iran agreed to deescalate and ease strikes. At the interbank foreign exchange market the rupee opened at 95.47, then touched 95.41, registering a gain of 20 paise from its previous close. On Monday, the rupee depreciated 43 paise to settle at 95.61 against the American currency. The rupee is likely to trade a 95.40-95.80 range with weakening bias, IFA Global said in a research note. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.98, down 0.06 per cent. Brent crude, the global oil benchmark, was trading lower by 0.99 per cent at USD 93.32 per barrel in futures trade. On the domestic equity market front, Sensex climbed 350.57 points to

Rupee defence lifts RBI's net short dollar book past $110 billion mark

RBI ramped up its interventions after the rupee weakened to a record low on May 20, almost hitting the 97 per dollar mark

Rupee declines 17 paise to 95.35 against US dollar in early trade

Rupee fell 17 paise to 95.35 against US dollar in early trade on Monday, weighed down by the strength of the American currency in the overseas market amid strong US economic data and continuing geopolitical uncertainty. Forex traders said elevated Brent crude prices dented investor sentiments. Crude oil prices surged after Iran launched multiple rounds of missiles toward Israel, raising concerns about the stability of the region and the durability of ceasefire efforts. Investors are also monitoring developments in West Asia and awaiting key economic data from the US, which could set the path for fresh clues from the US Federal Reserve on interest rate path, they said. At the interbank foreign exchange market, the rupee opened at 95.35 against the US dollar, down 17 paise from its previous close. On Friday, the rupee appreciated 56 paise to close at 95.18 against the US dollar, marking its strongest single-day gain in almost two months, after the Reserve Bank announced measures to

RBI's net short forward dollar position falls to $95 bn after six months

The Reserve Bank of India's outstanding net short dollar position in the forward market declined in April, marking the first reduction after six consecutive months of increases