Page 2 - Indian Rupee

Rupee falls 25 paise to 95.33 against US dollar as oil prices top $100

The rupee depreciated 25 paise to 95.33 against the US dollar in early trade on Thursday as Brent crude price crossed the USD 100 dollar mark sharply increasing concerns over India's import bill. Forex traders said elevated crude oil prices and persistent dollar demand also weighed on investor sentiments. At the interbank foreign exchange market, the rupee opened at 95.15 against the US dollar, then lost ground to touch 95.33 against the American currency, registering a loss of 25 paise from its previous close. On Wednesday, the rupee slumped 34 paise to close at 95.08 against the American currency. "Rupee's move beyond the psychologically important 95 level also triggered some additional dollar demand and stop-loss activity. However, the decline was contained by RBI intervention," 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

Oil tops $100, rupee breaches 95/$ as stocks reel on US-Iran tensions

The rupee touched a low of 95.23 against the dollar before settling at 95.11 as Brent crude topped $100 a barrel; dealers cited RBI intervention in spot and swap markets

Rupee's RBI-backed rally fades, slips past 95 on oil, slowing intervention

The rupee depreciated 21 paise to 94.95 against US dollar on Wednesday weighed down by surging crude oil prices, which inched closer to the USD 100-a-barrel mark amid the simmering US-Iran tensions. A weak dollar, however, cushioned the fall, forex traders said. At the interbank foreign exchange market, the rupee opened at 94.80 against the US dollar, then touched 94.95, registering a fall of 21 paise from its previous close. On Tuesday, the rupee fell 18 paise to close at 94.74 against the American currency. "Indian rupee opened lower on escalating geopolitical tensions and surge in crude oil prices. Brent has neared the USD 100 mark as US and Iran attack each other," said Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan. The local currency is expected to trade with a negative bias on rising crude oil prices and escalating geopolitical tensions, he said. "Weak global markets may further pressurise the rupee. However, a weak dollar may support the rupee at lower levels. ..

Rupee sees worst day in eight weeks as elevated crude renews pressure

Rupee settles at 94.83 per dollar against 94.49 previously as rising crude oil prices, importer hedging and persistent risk-off sentiment boost dollar demand

Rupee falls 10 paise to 94.66 against US dollar during early trade

The rupee depreciated 10 paise to 94.66 against the US dollar in early trade on Tuesday, as surging Brent crude prices near USD 97/bbl and Middle Eastern geopolitical friction dampened investor confidence. Forex traders noted that ongoing RBI dollar sales and strong foreign-currency inflows under special schemes helped keep the rupee range-bound despite heavy external pressures. At the interbank foreign exchange market, the rupee opened at 94.49 against the US dollar, then touched 94.66, registering a fall of 10 paise from its previous close. On Monday, the rupee fell 13 paise to close at 94.56 against the American currency. "The RBI's intervention has been particularly important in preventing higher oil prices from translating into a weaker rupee," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. According to Bhansali, the rupee is expected to stay in a range of 94.00 to 94.75 as crude oil is near to USD 97 level while dollar index

Rupee rises 4 paise to 94.39 against US dollar during early trade

The rupee traded in a narrow range and appreciated 4 paise to 94.39 against the US dollar in early trade on Monday, as the support from strong FCNR-related dollar inflows was negated by elevated crude oil prices amid persistent global headwinds. Forex traders said the rupee continues to draw strength from the robust liquidity wave, but renewed military strikes have driven Brent crude toward USD 97 per barrel, reigniting fears over Middle Eastern energy supply disruptions. At the interbank foreign exchange market, the rupee opened at 94.40 against the US dollar, then touched 94.39, registering a gain of 4 paise from its previous close. On Friday, the rupee settled higher by 8 paise at 94.43 against the US dollar. "The rupee entered the week on a stronger footing, supported by heavy FCNR-related dollar inflows. However, the global backdrop remains a challenge. 94.0094.20 remains the key support zone. If global headwinds intensify, USDINR could move back towards 95.00, 95.50 and ...

Rupee rises 5 paise to 94.46 against US dollar during early trade

The rupee gained 5 paise to 94.46 against the US dollar in early trade on Friday, supported by optimism over rising foreign inflows and a rise in risk appetite. Forex traders said the rupee is poised to gain strength, supported by strong underlying inflows and aggressive RBI intervention. However, higher crude oil prices and potential US-Iran tensions could limit further gains. At the interbank foreign exchange market, the rupee opened at 94.53 against the US dollar, then gained ground to touch 94.46, registering a gain of 5 paise from its previous close. On Thursday, the rupee extended its gaining momentum for the fifth straight session appreciating 22 paise to close at 94.51 against the US dollar. India mobilised a record USD 127.23 billion through foreign-currency deposits under a special central-bank programme aimed at bolstering the country's foreign-exchange liquidity. Including overseas foreign-currency borrowings (OFCB) and external commercial borrowings (ECB), total inflo

Rupee gains 69 paise, hits highest level since June on bumper FCNR inflows

The domestic currency touched an intraday high of 94.27 in morning deals, its highest level since June 29, according to Bloomberg data.

Rupee falls 2 paise to 94.97 against US dollar during early trade

The rupee traded in a narrow range and fell 2 paise to 94.97 against the US dollar in early trade on Wednesday, amid renewed US-Iran tensions, higher oil prices and rising Treasury yields. Forex traders said the RBI is keeping a tab on the rupee's fall as Brent crude prices have risen to USD 95 per barrel and dollar index is hovering around 99.70 on a bout of risk aversion on renewed US-Iran tensions. Moreover, market participants have raised the probability of a September Fed rate hike, pushing US Treasury yields higher and triggering a broad dollar rally. At the interbank foreign exchange market, the rupee opened at 94.97 against the US dollar, registering a fall of 2 paise from its previous close. On Tuesday, the rupee settled at 94.95 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.75, higher by 0.08 per cent. The dollar continues to benefit from its safe-haven status, while the su

Rupee rises 26 paise to 94.96 against US dollar during early trade

The rupee gained 26 paise to trade at 94.96 per US dollar on Tuesday morning, on robust domestic growth, contained fiscal slippage, and portfolio-related inflows. Forex traders said the USD/INR pair appears to have found a strong near-term base around 95.10-95.20. While MSCI-related inflows have provided temporary support. At the interbank foreign exchange market, the rupee opened at 95.06, then gained ground to touch 94.96 against the US dollar, registering a gain of 26 paise from its previous close. On Monday, the rupee pared initial losses and settled for the day with gains of 21 paise at 95.22 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.46, higher by 0.03 per cent. Brent crude, the global oil benchmark, was trading higher by 0.63 per cent at USD 91.06 per barrel in futures trade after US President Donald Trump warned that the United States would "hit Iran hard" following missil

RBI steps in again to support rupee as oil prices, Fed rate hike bets rise

The rupee recovered after briefly falling to 95.60 as RBI intervention offset pressure from higher oil prices and growing expectations of a US interest-rate hike

Rupee falls 13 paise to 95.56 against US dollar on oil price rise, Fed bets

The rupee fell 13 paise to trade at 95.56 per US dollar on Monday morning pressured by rising crude oil prices and geopolitical strain. Forex traders said market participants have raised the probability of a September Fed rate hike, pushing US Treasury yields higher and triggering a broad dollar rally, denting investor sentiments further. At the interbank foreign exchange market the rupee opened at 95.56, registering a fall of 13 paise from its previous close. On Friday, the rupee rose marginally by 2 paise to settle at 95.43 against the US dollar. The rupee opened lower as the dollar index was at 99.62 level, while most other assets fell from their levels on Friday, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. The rupee is expected to be in the range of 95.25 to 95.75 with exporters to sell near 95.60 levels and importers to buy all dips that they get with no directional movement being seen in the currencies, Bhansali ...

Round number skirmishes

A familiar script plays out regularly with the government fighting rupee depreciation

Rupee declines 10 paise to 95.55 against US dollar during early trade

The rupee fell 10 paise to 95.55 against the US dollar in early trade on Friday, weighed by FII outflows and sustained disruptions in global crude oil supplies. However, a marginally weaker greenback and a fall in global crude oil prices to levels below USD 90/barrel prevented a sharper decline in the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 95.54 against the greenback before slipping further to 95.55, down 10 paise from its previous close. The rupee pared initial gains and settled for the day lower by 1 paise at 95.45 against the US dollar on Thursday. "The rupee is expected to be in a narrow range of 95.40 to 95.60 (on Friday) with the Reserve Bank of India (RBI) protecting the upper end, while the lower end is bought by oil importers, month-end demand and importers," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. Forex traders further said market participants will closely monitor US

Rupee rises 4 paise to 95.40 against US dollar during early trade

The rupee pared initial losses and was trading with gains of 4 paise at 95.40 against the American currency in early trade on Thursday, supported by easing Brent crude prices. Brent prices fell below the USD 90 mark for the first time in several sessions amid continuing discussions between Iran and Oman regarding a temporary shipping corridor through the Strait. While no final agreement has been reached, the fact that negotiations are continuing has reduced fears of a prolonged disruption to global oil supplies, forex traders said. At the interbank foreign exchange market, the rupee opened at 95.50, then fell to 95.52 against the greenback, registering a fall of 8 paise from its previous close. The domestic unit pared the losses and was later trading with gains of 4 paise at 95.40 against the American currency. On Tuesday, the rupee settled for the day higher by 26 paise at 95.44 against the US dollar. The Indian foreign exchange market was closed on Wednesday on account of ...

RBI steps up intervention to support rupee amid higher oil prices

In one instance, the RBI spent $7 billion in just a day intervening in onshore and offshore markets as the rupee approached a record low

RBI net buys $561 million in June amid foreign inflows: Monthly bulletin

The central bank turned a net dollar buyer for the first time since February, while its outstanding net short position in the forward market declined in June

Rupee leads Asian currencies; bond yields ease as crude slips below $90

The rupee settled 0.35 per cent higher at 95.41 per dollar as central bank intervention and falling crude prices lent support; benchmark bond yields also eased

Rupee falls 4 paise to 95.74 against US dollar during early trade

The rupee traded in a narrow range and fell 4 paise to 95.74 against the American currency in early trade on Tuesday, as elevated crude prices and importer dollar demand weighed on the currency. Forex traders said the RBI's continued intervention through state-run banks helped prevent a sharper decline, keeping USD/INR in a narrow range despite weakness in Asian equities and renewed geopolitical uncertainty around Iran. At the interbank foreign exchange market, the rupee opened at 95.74, registering a fall of 4 paise from its previous close. On Monday, the rupee settled with a marginal gain of 1 paisa at 95.70 against the US dollar. "Overall, the rupee remains firmly range-bound around 95.5096.00, with oil prices and RBI intervention likely to remain the key near-term drivers," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. The rupee has remained range bound for the last two weeks with oil companies and RBI buying dollars at the

Rupee rises 7 paise to 95.64 against US dollar during early trade

The rupee traded in a narrow range and rose 7 paise to 95.64 against the American currency in early trade on Monday, supported by a softer US dollar, but simmering geopolitical tensions kept it from making strong gains. Forex traders said the Dollar Index has weakened, but elevated Brent crude and persistent importer demand limited the rupee's gains. Moreover, investors are treading a cautious path as Washington is set to unveil a fresh wave of sanctions on Iran, targeting its oil trade, banking network and shipping routes. At the interbank foreign exchange, the rupee opened at 95.68, then rose to 95.64, higher by 7 paise from its previous close. On Friday, the rupee settled higher by just 3 paise at 95.71 against the US dollar. "The worry for markets isn't just Iran, it's who else gets caught in the crossfire, since several major economies continue to engage with Iranian trade in some form. Until the details are out this evening, oil and currency markets are likely to stay cautio