Page 34 - Indian Rupee

Looks like PM has made up his mind to make rupee hit a century: Congress

In a scathing attack on Prime Minister Narendra Modi over the falling value of the rupee against the US dollar, the Congress on Friday said the currency has fallen by 50 per cent in the last 10 years and it looks like the prime minister has made up his mind to make it hit a century. Addressing a press conference here with a magnifying glass in hand, Congress spokesperson Supriya Shrinate said she has brought it as she has lost track of how steeply the rupee has fallen and with that, the prime minister's dignity. "It was Mr Modi who said that along with the falling rupee, the prime minister's dignity and his office's grace also fall. I wonder what Prime Minister Modi has to say now," she said. "The rupee today is staring at 87 to a dollar, while he (Modi) was handed over the rupee at 58 to a dollar when he became the prime minister. The rupee has fallen by 29 against the dollar, which is a fall of 50 per cent in the last 10 years. It looks like he has made up his mind to make it hit

Rupee rises 18 paise to 86.26 against US dollar in early trade today

Rupee appreciated 18 paise to 86.26 against the US dollar in morning trade on Friday, supported by positive domestic equities and soft American currency index. Forex traders said weak crude oil prices and positive domestic markets supported the local unit, while sustained foreign fund outflows weighed on the local unit. Traders further noted that the upcoming Union Budget will play a crucial role in shaping market sentiment and the rupee's trajectory. At the interbank foreign exchange, the rupee opened at 86.31 and touched 86.26 against the US dollar, registering a rise of 18 paise from its previous close. The local unit also touched 86.33 against the US dollar initial trade. On Thursday, the rupee declined 9 paise to settle at 86.44 against the US dollar. The rupee has shown signs of resilience, appreciating over the past two trading sessions due to a weakening dollar. Moreover, on a positive note, upcoming inflows from fundraising activities by IREDA of USD 570 million are expec

RBI expected to transfer another bumper payout to govt, say analysts

The RBI makes an annual payout to the government from the surplus income it earns on investments and valuation changes on its dollar holdings

Rupee fell 20% in last 5 yrs, weakest currency in Southeast Asia: Moody's

Moody's Ratings on Thursday said the Indian rupee has depreciated by around 5 per cent in the last two years and has fallen by 20 per cent in the last five years making it one of the weakest performing currencies in South and South East Asia. Of the 23 rated Indian companies, Moody's assessed only six to be exposed to the effects of dollar strength, but these companies have sufficient mitigating factors. These companies are the three oil refining and marketing companies (OMCs), Bharat Petroleum Corporation (BPCL), Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation (IOCL), building materials producer UltraTech Cement, Bharti Airtel and ride sharing company ANI Technologies Pvt Ltd. "While the rupee has depreciated by only around 5 per cent in the last two years, it has fallen over 20 per cent since January 2020, making it one of the weakest-performing currencies in South and Southeast Asia," Moody's said in its report on Corporates '? South and Southeast Asia Emerging

Amid FII outflow, Rupee falls 12 paise to settle at 86.47 against dollar

The rupee declined 12 paise to settle at 86.47 (provisional) against the US dollar on Thursday amid the strengthening American currency and continuous outflow of foreign funds. However, positive domestic equity markets and lower crude oil prices supported the Indian currency at lower level, forex traders said. At the interbank foreign exchange, the rupee opened at 86.46 and moved between high of 86.38 and low of 86.52 against the greenback during the session. The local unit settled at 86.47 (provisional) against the US dollar, registering a loss of 12 paise from its previous close. On Wednesday, the rupee appreciated 23 paise to close at 86.35 against the dollar. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said the rupee declined on a strong US dollar and recovery in the US treasury yields. FII outflows too weighed down the local unit. However, weak crude oil prices and positive domestic markets cushioned the downside. "Investors may remain cautious ahead of Bank of

Rupee declines 5 paise to 86.40 against US dollar in early trade today

The rupee declined 5 paise to 86.40 against the US dollar in early trade on Thursday amid a strengthening greenback. While a drop in crude oil rates and an upward trend in the domestic equity markets prevented further decline in the local currency, forex traders expected it to remain volatile throughout the day and trade in a wide range of 86.20-86.60. At the interbank foreign exchange, the rupee opened at 86.46, down 11 paise from its previous close, and dropped further to 86.52. However, it recovered some of its losses as the equity markets showed an upward trend to rise to 86.40, lower by 5 paise from Wednesday's close. The domestic currency had appreciated 23 paise to close at 86.35 against the US dollar on Wednesday. "Exporters may continue to wait with a stop loss at 86.25 since the rupee continues to remain in a weakening mode due to US dollar demand," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. "The rupee, which gained

After Tuesday fall, rupee rises 25 paise to close at 86.33 against dollar

The rupee appreciated 25 paise to close at 86.33 (provisional) against the US dollar on Wednesday, supported by positive domestic equities and soft US dollar index. Forex traders said the rupee is likely to witness high volatility with a negative bias ahead of key events in the global and domestic economic landscape. Moreover, the overall uncertainty about the global economy continued to weigh on both currencies and commodities, keeping investors on edge. At the interbank foreign exchange, the rupee opened at 86.56 against the greenback. During the day, the local unit touched an intraday high of 86.30 and a low of 86.71. It finally closed at 86.33 (provisional) against the US dollar, up 25 paise from its previous close. On Tuesday, the rupee fell 13 paise to 86.58 against the US dollar. "We expect the rupee to remain largely weak on underlying strength in the US dollar and overall weakness in the domestic markets. Importer demand for dollars may also pressurise the rupee. However

Rupee gave up early gains post Trump's Mexico, Canada tariff threat

The Reserve Bank of India (RBI) intervened in the foreign exchange market via dollar sales to avoid further depreciation of the rupee

Rupee rises 17 paise to 86.28 against US dollar during early trade

Rupee appreciated 17 paise to 86.28 against the US dollar in morning trade on Tuesday, as the US dollar index and crude oil prices retreated from their elevated levels. Forex traders said the dollar weakened from its 109 levels but clawed back to 108.31 as Donald Trump declared tariffs against Canada and Mexico in the near future but stopped short of declaring any tariffs against China. While uncertainty eased slightly, concerns regarding tariffs still lingered in the background, as the traders began to adjust their expectations, betting that even if tariffs were imposed, they would likely be less aggressive, traders said. At the interbank foreign exchange, the rupee opened at 86.28, registering a rise of 17 paise from its previous close of 86.45 against the greenback. The local unit also touched 86.43 against the US dollar initial trade. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.94 per cent at ...

RBI may turn to longer buy-sell swaps amid rising $ short positions

More changes likely in liquidity management framework

Rupee rises 5 paise to 86.55 against dollar on decline in crude prices

The rupee appreciated 5 paise to close at 86.55 (provisional) against the US dollar on Monday, as an overnight decline in crude oil prices and the US dollar index supported investor sentiments. Besides, a positive trend in domestic equities also helped the local currency, Forex traders said the rupee is likely to trade within a volatile range of 86.20-86.80 ahead of key events in the global and domestic economic landscape. At the interbank foreign exchange, the rupee opened on a strong note at 86.48 against the greenback. During the day, the local unit touched an intraday high of 86.46 and a low of 86.57. It finally closed at 86.55 (provisional), a rise of 5 paise against the US dollar. In the previous session on Friday, the rupee settled at 86.60. According to Anuj Choudhary Research Analyst at Mirae Asset Sharekhan, the rupee strengthened against the greenback on the weak tone in the US Dollar index and positive domestic markets. Overnight decline in crude oil prices also supp

Rupee rises 14 paise to 86.46 against US dollar in early trade today

Rupee appreciated 14 paise to 86.46 against the US dollar in morning trade on Monday, tracking a positive trend in domestic equities and Asian currencies. Forex traders said factors like elevated Dollar Index level as well as surging crude oil prices pose significant headwinds for the USD/INR pair. At the interbank foreign exchange, the rupee opened at 86.48 and touched 86.46 against the greenback, registering a gain of 14 paise over its previous close. On Friday, the rupee had settled at 86.60 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.22 per cent at 109.10. Brent crude, the global oil benchmark, fell by 0.12 per cent to USD 80.69 per barrel. The overall strength of the American currency and elevated crude oil prices are likely to strain India's trade balance, creating challenges for sustained rupee appreciation, forex traders said. As Asian currencies rose Indian rupee ope

Rupee REER declines in December after November peak, shows RBI data

The REER is expected to have declined further in January 2025, said market participants

Rupee expected to appreciate a bit, to hover around 85-86 per US dollar

Rupee is expected to appreciate a bit and stabilise around 85-86 a dollar in the coming weeks with RBI's continued focus on stability of the domestic currency, Deloitte economist Rumki Majumdar said. She said that the rupee may not now see the level of 83 despite RBI's intervention and the Indian currency being more stable than others. The rupee tanked last week to hit its all-time low of 86.70 against the US dollar as massive foreign fund outflows and falling domestic equity markets dented investor sentiment. The rupee on January 13 logged its steepest single-day fall in nearly two years and ended the session 66 paise down at its historic low of 86.70 against the US dollar. The currency's previous record one-day fall of 68 paise was witnessed on February 6, 2023. The domestic currency has depreciated by over 1 per cent in 2025 so far following a nearly 3 per cent decline in 2024 due to a strong dollar and FII outflows. The rupee closed at 86.60 a dollar on Friday. "I was quite ...

Rupee ends weaker, logs worst week in 18 months on foreign outflows

The rupee's depreciation bias is likely to persist next week, with the focus squarely on any policy changes announced by Trump, especially about trade tariffs, said Dilip Parmar, a foreign exchanger

What's dragged Sensex nearly 800 pts lower after 3 days of gains? Details

From Donald Trump's inauguration on Monday to FII selling here are a few reasons that Indian equities are down today

Weaker rupee to push India's import bill due to higher payments: GTRI

The weaker rupee will push the country's import bill due to higher payments for crude oil, coal, vegetable oil, gold, diamonds, electronics, machinery, plastics, and chemicals, economic think tank GTRI said on Friday. Citing an example, it said the depreciating domestic currency will increase India's gold import bill, especially as global gold prices have jumped 31.25 per cent, rising from USD 65,877 per kg in January 2024 to USD 86,464 per kg in January 2025. Since January 16, last year, the Indian Rupee (INR) has weakened by 4.71 per cent against the US dollar, falling from Rs 82.8 to Rs 86.7. In the last ten years, between January 2015 and 2025, the INR has weakened by 41.3 per cent against the US dollar, falling from Rs 41.2 to Rs 86.7, the Global Trade Research Initiative (GTRI) said in its report. In comparison, the Chinese Yuan depreciated by 3.24 per cent, from Yuan 7.10 to Yuan 7.33. "Overall, weaker INR will inflate import bills, raise energy and input prices, leading to

Rupee gains 3 paise to 86.58 against US dollar during early trade

The rupee rose 3 paise to 86.58 against the US dollar in early trade on Friday on the back of softening American currency. Higher crude oil prices and volatile global trends failed to prevent the withdrawal of foreign funds from domestic equities, capping a significant recovery in the Indian currency, forex traders said. At the interbank foreign exchange, the rupee opened at 86.60 and touched a high of 86.55 before trading at 86.58 against the greenback in initial deals, 3 paise higher from its previous close. On Thursday, the rupee depreciated 21 paise to close at 86.61 against the US dollar. The local unit had settled with a gain of 13 paise at 86.40 against the dollar on Wednesday, a day after rebounding 17 paise from its lowest-ever level of 86.70 against the greenback. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.02 per cent lower at 108.80. Brent crude, the global oil benchmark, rose 0.39 per cent but st

Fed rate cut prospects may boost rupee despite Trump-related concerns

Asian currencies were mostly higher, with the Chinese yuan ticking higher as the country's economic growth beat forecasts

A day after rebound, Rupee falls 16 paise to settle at 86.56 against dollar

The rupee depreciated 16 paise to close at 86.56 (provisional) against the US dollar on Thursday, dragged down by a strong American currency overseas, elevated crude oil prices and foreign fund outflows. However, positive domestic equity markets provided some cushion at the lower level, forex traders said. At the interbank foreign exchange, the rupee opened at 86.42 and touched the intraday high of 86.37 before ending the session at 86.56 (provisional) against the greenback, 16 paise lower from the previous close. The local unit settled with a gain of 13 paise at 86.40 against the dollar on Wednesday, a day after rebounding 17 paise from its lowest-ever level. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said the rupee declined due to increased demand for dollars by importers. "Importers may continue to buy dollars, which may further pressurise the rupee. Traders may take cues from retail sales and weekly unemployment claims data from the US. USD-INR spot price is ..