Indian Rupee

Biggest currency clampdown in a decade risks backfiring for India

Jefferies estimates banks could face losses of up to ₹5,000 crore ($539 million) from the forced unwinding

Rupee rises to 92.41 against dollar, faces risks from West Asia tensions

The rupee appreciated 10 paise to 92.41 against the US dollar in early trade on Friday, even as the USD/INR pair faces risks from rising global tensions, especially the US-Iran conflict. Forex traders said the rupee is likely to see high volatility intra-day as the deadline for RBI's instructions to banks to curb their overnight positions to USD 100 million closes today. At the interbank foreign exchange market, the rupee opened at 92.58 against the US dollar, then gained ground to touch 92.41 against the US dollar in initial trade, registering a gain of 10 paise over its previous close. On Thursday, the rupee settled with a marginal gain of 3 paise at 92.51 against the US dollar. "An estimated 8085 per cent of these positions have already been unwound, which means the bulk of this supportive flow is now behind us. In simple terms, the cushion that held the rupee steady is beginning to thin, and this is where the story starts to shift," CR Forex Advisors MD Amit Pabari said. Pabar

Banks exit bulk of rupee arbitrage positions ahead of RBI deadline

RBI imposed limits on banks on ‌March 27, directing them to cap their net open positions in the rupee in the onshore market at $100 million, requiring that they comply by April 10

Rupee falls 0.1% as West Asia truce pushes oil higher, dents stocks, bonds

Rupee slips to 92.65 per dollar as oil prices jump on Middle East tensions, dragging equities and bonds while foreign outflows and weak sentiment add pressure

Rupee likely to stabilise at 92-93 per dollar, says EAC-PM chairman

Rupee may stabilise at 92-93 against the dollar as foreign flows return, says EAC-PM Chairman, citing strong macroeconomic fundamentals and fiscal strength

Rupee surges to 92.56 against dollar in early trade after US-Iran ceasefire

The rupee appreciated 50 paise to 92.56 against the US dollar in early trade on Wednesday after US President Donald Trump announced suspension of military strikes against Iran for two weeks. Forex traders said the two-week ceasefire announcement triggered a wave of outsized bargain buying amongst the risk assets as Asian Stocks, Dow futures, Gold and Silver all rallied while Brent Oil fell below USD 100 to USD 96 per barrel. The rupee in accordance surged to 92.56 levels, with the RBI deadline still in place till the 10th of April (regarding squaring of positions taken overnight up to USD 100 million) while the RBI announces its monetary policy today at 10 am. At the interbank foreign exchange market, the rupee opened at 92.92 against the US dollar, then gained ground to touch 92.56 against the US dollar in initial trade, registering a gain of 50 paise over its previous close. On Tuesday, the rupee had settled at 93.06 against the American currency. Attention now shifts to the RBI

Bond yields slump, rupee strengthens ahead of RBI's monetary policy outcome

Cooling crude prices after a US-Iran ceasefire lifted sentiment, pulling down yields and supporting the rupee ahead of the Reserve Bank of India's policy decision

Iran ceasefire offers major boost to rupee ahead of RBI policy; oil plunges

The rupee is likely to open ‌in the 92.40-92.50 range versus the US dollar, having settled at 93.0075 on Tuesday

RBI set to hold rates while confronting weak rupee amid West Asia conflict

RBI now faces a dilemma over whether to raise interest rates to support the currency or keep borrowing costs low to cushion economic growth

Why Sensex cut losses, up 1,400 pts from day's low; Nifty at 22,968?

In the past three trading sessions, the Sensex has surged more than 2038 points, or nearly 2.75 per cent. Similarly, the Nifty 50 index has added more than 578 points, or 2.6 per cent

Rupee set to rise on spillover of RBI curbs; oil, outflows temper sentiment

The rupee is likely to ‌open in the 92.80-92.90 range versus the US dollar, having settled at 93.10 on Thursday

India's forex reserves plunge $30.5 bn in March amid RBI intervention

Forex reserves decline sharply amid RBI intervention to stabilise rupee; foreign currency assets fall in FY26 even as gold reserves rise

RBI's measures can delay the slide, but may not steady the rupee at 93

RBI faces a tough trade-off between defending Rupee and supporting growth, as oil shocks and global pressures make balancing exchange rate stability and domestic interest rates increasingly untenable

Best of BS Opinion: From war to AI, new pressures build on India's economy

Here are the best of Business Standard's opinion pieces for today

Rupee logs best day in over 12 years after RBI curbs speculation

Rupee rises 1.8% in its biggest single-day gain in over 12 years as RBI curbs speculative forex trades, pushing hedging demand onshore and lifting forward premiums sharply

Rupee posts best single day since Sep 2013, ends up 1.8% at 93.10/dollar

RBI crackdown on speculation triggers sharp rebound, echoing 2013 stabilisation playbook

Sensex cuts losses, up 2k pts from day's low, Nifty at 22,700; key reasons

Stock market today: Indian equity benchmark indices Sensex and Nifty staged a sharp recovery on Thursday, April 2, driven by a stronger rupee and selective buying across certain sectors

Rupee opens 130 paise higher after RBI curbs NDF trades, caps speculation

The Indian rupee opened 130 paise higher at 93.53 per dollar on April 2 after the RBI introduced fresh measures, including a ban on NDF trades, to curb forex speculation and stabilise the currency

RBI trading ban jolts India's $149 billion-a-day offshore rupee market

RBI has rolled out some of its toughest measures in more than a decade to curb speculation and support the currency, which has been setting successive record lows this year

Rupee set for more chaos as banks unwind $30 billion in arbitrage trades

RBI's clampdown on rupee trades sparks market panic, volatility spikes, and banks scramble to unwind billions in arbitrage positions