Indian Rupee

Rupee falls 6 paise to 95.28 against US dollar during early trade

The rupee traded in a narrow range and depreciated 6 paise to 95.28 against the US dollar in early trade on Friday, tracking a firmer dollar and a rise in US treasury yields. Forex traders said dollar demand from importers and profit-taking after the rupee's recent appreciation appear to have outweighed the favourable global backdrop. At the interbank foreign exchange market, the rupee opened at 95.27, then touched 95.28 against the American currency, registering a fall of 6 paise from its previous close. On Thursday, the rupee depreciated 14 paise to close at 95.22 against the US dollar. "With oil back near USD 83, the dollar firm near 100, and US yields elevated, 95.00-95.10 stands out as a solid support for the rupee, and the currency climbing back towards the 96.00-96.20 zone looks like reality. Global developments, particularly around oil prices and the dollar, are likely to remain the key drivers for the rupee in the near term, keeping the overall bias tilted towards weakness

Rupee steadies as lower oil prices, inflows boost carry trade appeal

Cooling crude prices and over $40 billion in recent inflows have eased depreciation concerns, improving the Indian currency's attractiveness for carry trades

Rupee falls 9 paise to 95.17 against US dollar during early trade

The rupee depreciated 9 paise to 95.17 against the US dollar in early trade on Thursday as the support from lower crude oil prices were offset by lingering geopolitical risks. At the interbank foreign exchange market, the rupee opened at 95.13, then touched 95.17 against the American currency, registering a fall of 9 paise from its previous close. On Wednesday, the rupee settled at 95.08 against the American currency. "For now the rupee finds itself caught between encouraging diplomatic headlines and lingering geopolitical risks.. Positive developments around Hormuz could help it revisit the 94.8095.00 zone," said CR Forex Advisors MD Amit Pabari. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 0.05 per cent higher at 99.72. Brent crude, the global oil benchmark, was trading 0.20 per cent lower at USD 79.29 per barrel in futures trade. On the domestic equity market front, Sensex climbed 201.43 points to 78,782.

Rupee gains post RBI policy; analysts say may rise to 90/$ by year-end

Analysts expect the rupee to improve further and may move back towards 90 by the end of this year, supported by several reasons, including a drop in oil prices and FIIs showing positive signs.

Foreign inflows unlikely to lift rupee significantly in coming months

Foreign investors turned ‌net buyers of Indian equities in July for the first time in 5 months, while the RBI's measures to attract foreign exchange, announced in June, have drawn more than $40 bn

Rupee jumps 39 paise to 94.89 against US dollar ahead of RBI MPC decision

The rupee gained 39 paise to 94.89 against the US dollar in early trade on Wednesday supported by falling crude oil prices following progress in US-Iran talks and a pause in planned strikes. Forex traders said investors are closely awaiting the upcoming RBI monetary policy decision for further cues. At the interbank foreign exchange market, the rupee opened at 94.90, then touched 94.89, registering a gain of 39 paise from its previous close. On Tuesday, the rupee closed at 95.28 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.80, down 0.06 per cent. Brent crude, the global oil benchmark, was trading lower by 1.11 per cent at USD 78.48 per barrel in futures trade. On the domestic equity market front, the Sensex climbed 375.01 points to 78,803.96 in early trade, while the Nifty was up 62.7 points to 24,677.60. Foreign institutional investors purchased equities worth Rs 2,446.47

Rupee rises 3 paise to 95.34 against US dollar during early trade

The rupee opened on a flat note and gained 3 paise to 95.34 against the US dollar in early trade on Tuesday, as support from the broad-based weakness in the US Dollar Index amid improving global risk sentiment was negated by dollar demand from importers. Forex traders said lower oil prices and a softer US dollar outweighed importer demand for dollars, with market participants now turning their attention to the upcoming RBI MPC decision and key US economic data later this week for further direction. At the interbank foreign exchange market the rupee opened at 95.35, then touched 95.34, registering a gain of 3 paise from its previous close. On Monday, the rupee closed at 95.47 against the American currency. The rupee opened on a flat note and may remain in the range of 95 to 95.50 as oil and dollar index also remain very stable while the market awaits for the RBI Monetary policy decision on Wednesday, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury .

Rupee climbs to nearly one-month high on oil slump, strong inflows

The rupee surged 31 paise to 95.12 against the US dollar in early trade on Monday over a steep fall in global crude oil prices and a softer greenback after US President Donald Trump decided to hold off strikes against Iran. FII inflows, a rise in the country's forex reserves, and Reserve Bank of India (RBI) support further strengthened the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 95.15 against the greenback before rising further to 95.12, up 31 paise from its previous close. The rupee stayed in positive territory for the fifth consecutive day on Friday, gaining 7 paise to settle at 95.43 against the US dollar. US President Donald Trump on Sunday said he decided to hold off on ordering American forces to carry out new strikes against Iran at the urging of Gulf allies Qatar, Saudi Arabia, and the United Arab Emirates. The president added that a plan was in place for the US forces to carry out "the biggest attack since World War I

Rupee gains for fifth day as weak dollar, lower crude lift sentiment

The rupee posted its strongest weekly gain since March as a weaker dollar, lower crude oil prices, foreign inflows and likely RBI intervention supported the domestic currency

Rupee rises 20 paise to 95.30 against US dollar during early trade

The rupee maintained its upward trajectory, rising 20 paise to 95.30 against the US dollar in early trade on Friday, tracking foreign capital inflows and a decline in global crude oil prices. However, a stronger greenback capped sharper gains in the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 95.40 before rising further to 95.30, up 20 paise from its previous close. Rising for the fifth straight session, the rupee surged 26 paise to close at 95.50 against the US dollar on Thursday. "The rupee is likely to continue to move back & forth in today's session, gain some strength against US dollar due to modest pullback in oil prices, while expectations of continued intervention from the Reserve Bank of India (RBI) keeps it supported," Aamir Makda, Commodity & Currency Analyst, Technical Research, Choice Broking. Meanwhile, the US and Iran each fired barrages of missiles on Thursday, as the pattern of back-and-forth strikes took hold again .

Rupee rises 13 paise to 95.63 against US dollar during early trade

The rupee strengthened by 13 paise to 95.63 against the US dollar in early trade on Thursday, supported by positive momentum in domestic equity markets and inflows of foreign capital. However, the Indian currency's gain was capped by a strong dollar index after the US Federal Reserve kept interest rates unchanged, forex traders said. At the interbank foreign exchange, the rupee opened at 95.59 and lost some ground to 95.63 against the greenback, registering a gain of 13 paise from its previous close. The rupee gained 6 paise to settle at 95.76 against the US dollar on Wednesday. The currency settled 17 paise higher at 95.82 against the US dollar on Tuesday, after gaining 74 paise in the previous two back-to-back sessions. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading up 0.06 per cent at 101.79. Brent crude futures, the global oil benchmark, were trading 1.26 per cent lower at USD 89.60 per barrel. According to .

$32 bn inflows from India's forex drive yet to lift rupee, boost liquidity

RBI Governor Sanjay Malhotra has said that banks have mobilised $32 billion under recent measures, though the inflows are yet to significantly boost forex reserves, banking liquidity or the rupee

Rupee is undervalued, says RBI Governor: What it means and why it matters

RBI Governor Sanjay Malhotra says the rupee is undervalued and recent weakness is due to global factors, not India's economy. Here's what it means and why it matters

Rupee rises 5 paise to 95.77 against US dollar during early trade

The rupee appreciated by 5 paise to 95.77 against the US dollar in early trade on Wednesday, staying firm for the fourth consecutive day amid a weak American currency and lower crude oil prices. The local currency also found support from positive domestic equity market sentiment after foreign institutional investors turned to buying Indian stocks, according to forex traders. At the interbank foreign exchange, the rupee opened at 95.70 and slipped to 95.77 against the greenback, registering a gain of 5 paise from its previous close. The Indian currency settled 17 paise higher at 95.82 against the US dollar on Tuesday, after gaining 74 paise in the previous two back-to-back sessions. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading down 0.12 per cent at 101.14, ahead of the Federal Reserve monetary policy announcements. Brent crude futures, the global oil benchmark, were trading 4.27 per cent higher but remained lower

Rupee rises to near two-week high of ₹95.70/$ as RBI support bolsters rally

The rupee extended its upward momentum, rising 35 paise to 95.64 against the US dollar in early trade on Tuesday, driven by lower crude oil prices amid easing geopolitical tensions. Forex traders said a weak US dollar index and positive equity market sentiment further boosted the Indian currency. At the interbank foreign exchange, the rupee opened at 95.75 and gained further to trade at 95.64 against the greenback, up 35 paise from its previous closing level. The rupee appreciated sharply by 54 paise to close at 95.99 against the US dollar on Monday, after rising 20 paise in the preceding session on Friday. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading down 0.06 per cent at 101.31. Brent crude, the global oil benchmark, was trading 1.43 per cent lower at USD 87.10 per barrel in futures trade. Analysts said oil prices eased as the US and Iran refrained from attacking each other's targets for the third consecutive

Rupee posts biggest gain in six weeks as oil slump, inflows lift sentiment

Domestic currency outperformed Asian peers as falling crude oil prices, sustained foreign inflows and RBI intervention boosted sentiment and eased pressure

From scarce dollars to global buffers: Can India avoid 1991-like crisis?

Thirty-five years after the 1991 crisis, India's external sector is far stronger. But have larger reserves, stronger exports, and reforms eliminated the risk of another balance-of-payments crisis?

RBI intervention lifts rupee to strongest one-day gain in over a month

The Reserve Bank of India's intervention on Monday was fairly large, with the central bank beginning to sell dollars when the rupee traded near 96.15 per dollar

Rupee rises 28 paise to 96.25 against US dollar during early trade

The rupee gained 28 paise to 96.25 against the US dollar in early trade on Monday, taking cues from a sharp fall in crude oil prices and positive global sentiment after the US and Iran signalled an easing of tensions in West Asia. The American currency index also retreated from an elevated level, while domestic equities witnessed a strong buying trend, supporting the local currency further, forex traders said. At the interbank foreign exchange, the rupee opened at 96.18 but lost some ground to trade at 96.28 against the greenback, logging a gain of 28 paise from its previous closing level. On Friday, the rupee recovered from a low level and settled 20 paise higher at 96.53 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading down 0.26 per cent at 101.04. Brent crude, the global oil benchmark, was trading 4.17 per cent lower at USD 92.74 per barrel in futures trade. Analysts attributed the recover

Nepal allows up to ₹25,000 in post-2016 Indian notes for Indians, Nepalis

Nepal has permitted Indian and Nepalese nationals to bring into or take out of the country Indian currency notes of Rs 200 and Rs 500 denominations up to a value of Rs 25,000, provided those were issued on or after November 9, 2016. The Nepal Rastra Bank (NRB), in a notice issued on Thursday, said Indian currency notes of Rs 500 and Rs 1,000 denominations issued before November 9, 2016, remain prohibited in Nepal. However, Indian currency notes of Rs 200 and Rs 500 issued after November 9, 2016, can be carried, brought into or taken out of Nepal by Nepali or Indian citizens up to a limit of INR 25,000 per person, in accordance with prevailing regulations, it said. Though the provisions were already notified by NRB through a notice published in the Nepal Gazette on February 11, the central bank on Thursday issued the fresh notice reiterating the regulations and clarifying its implementation. Clarifying the new rules, NRB spokesperson Guru Prasad Paudel said on Saturday that Nepalese