Page 35 - Indian Rupee

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 ..

Rupee falls 4 paise to 86.44 against US dollar during early trade

The rupee declined 4 paise to 86.44 against the US dollar in early trade on Thursday amid a firm American currency, rising crude oil prices and outflow of foreign funds. However, positive domestic equity markets resisted a sharp fall in Indian currency, forex traders said. At the interbank foreign exchange, the rupee opened at 86.42 and slipped further to 86.44 against the greenback in initial deals, trading 4 paise lower from its previous close. The rupee 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. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.04 per cent higher at 108.96. Brent crude, the global oil benchmark, rose 0.37 per cent to USD 82.33 per barrel in futures trade. Analysts said concerns over geopolitical uncertainties are likely to add volatility in dollar until the US gets new administration under President Donal

After 5-day streak of lows, rupee posts best day in 7 mths against dollar

A narrowing trade deficit in December, down to $21.94 billion down from a record $31.86 billion in November, further bolstered market sentiment

India Inc's foreign borrowings decline 20.2% in 2024 as rupee slips

The decline last calendar year followed a major uptick in 2023 when foreign loans had more than doubled from $14.38 billion in 2022 - the sharpest spike in over a decade

Rupee rebounds after falling to lifetime low, US inflation data in focus

The currency had declined to an all-time low of 86.6475 in the previous session. It recovered on Wednesday, helped by the dollar index's retreat from a more than two-year peak

Rupee slide raises doubts over rate cuts in February, analysts caution

The weaker currency could add to elevated inflation through costlier imports, while a cut in interest rates could dampen already tepid capital flows

Rupee falls 2 paise to 86.55 against US dollar in early trade today

The rupee pared its initial marginal gain and slipped 2 paise to 86.55 against the US dollar in early trade on Wednesday as the positive sentiment in the domestic equity markets was negated by elevated crude oil prices and massive withdrawal of foreign funds. A retreating American currency, however, supported the Indian currency at lower level, forex traders said. At the interbank foreign exchange, the rupee opened at 86.50 and touched 86.45 against the greenback in initial deals. However, the local unit soon pared the gains and traded at 86.55 against the dollar, 2 paise lower from its previous close. On Tuesday, the rupee rebounded from its lowest-ever level and settled with a gain of 17 paise at 86.53 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03 per cent lower at 109.07. Brent crude, the global oil benchmark, rose 0.06 per cent to USD 79.96 per barrel in futures trade. In the domesti

Impact of Trump's presidency to be short-lived on Indian rupee: SBI

Historical analysis of US presidencies, dating back to the Nixon era, reveals that the rupee tends to perform more stably during Republican administrations compared to Democratic ones

Rupee hits new low of 86.68 per dollar as oil importers boost demand

RBI's intervention policy unlikely to have changed

RBI likely to manage FX reserves judiciously amid global headwinds

The Reserve Bank of India will continue to intervene as and when necessary to smoothen volatility, but won't go against the tide and massively intervene to protect any levels

Rupee recovers from record low to settle 8 paise higher at 86.62/$

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.39 per cent lower at 109.38

RBI likely sold dollars heavily before local spot market open, say traders

The rupee was last quoted at 86.5150 per US dollar as of 09:35 am IST, up nearly 0.1 per centon the day

Rupee recovers from record low, rises 21 paise to 86.49 against US dollar

The rupee rebounded from its lowest-ever level and appreciated 21 paise to 86.49 against the US dollar in early trade on Tuesday on the back of retreating American currency and easing crude oil prices. According to forex traders, the Indian currency found support from positive inflation numbers and some recovery in domestic equity markets even though the outflow of foreign funds continued to play a negative role. At the interbank foreign exchange, the rupee opened at 86.57 and pared further losses to trade at 86.49 against the greenback in initial deals, 21 paise higher from its previous close. On Monday, the rupee 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 fall of 66 paise in one session was the steepest since February 6, 2023, when the unit had lost 68 paise. The Indian currency has plunged more than Re 1 in the past two weeks from the closing level of 85.52 on December 30. I

Rupee logs steepest fall in two years, hits record low of 86.58/$

The rupee weakened to 86 per dollar from 85 in just 16 trading sessions. In contrast, its movement from 84 to 85 took 46 working days, while the shift from 83 to 84 happened in 478 days

Rupee among the world's most stable currencies: BJP counters Cong's claims

The BJP on Monday said the rupee is among the "most stable" currencies in the world and slammed the Congress for painting a "grim picture" of the fall in its value against the US dollar. India's improved external position, reduced current-account deficit and strong foreign exchange reserves have made the rupee one of the most stable currencies globally, BJP's IT cell head Amit Malviya said in a post on X. Over the last year, the rupee depreciated by a modest 3.68 per cent, outperforming major currencies like the Japanese Yen and Korean Won, which fell by 9 per cent to 12 per cent during the same period, even as the US Dollar Index surged by 9.8 per cent, Malviya said. "So, the next time someone paints a grim picture of the Indian rupee, remind them of its disastrous performance under the UPA and the remarkable turnaround under the Modi government," he added. The reaction of the Bharatiya Janata Party (BJP) leader came after the Congress took a swipe at Prime Minister Narendra Modi

Rupee down 27 paise at record low of 86.31 against US dollar in early trade

The rupee's slide show went on for the second straight session on Monday as it crashed 27 paise to hit a new lifetime low of 86.31 against the US dollar, dragged down by a robust American currency amid volatile global cues. A record surge in crude oil prices, sustained outflow of foreign capital, and a negative trend in domestic equity markets also kept the Indian currency under pressure, forex traders said. The dollar, they said, strengthened on better-than-expected job growth in the US market, which also fuelled the benchmark treasury yields amid expectations of slower interest rate cut by the Federal Reserve. At the interbank foreign exchange, the rupee opened at 86.12 and fell to the historic low level of 86.31 against the greenback in initial deals, registering a steep loss of 27 paise from its previous close. On Friday, the rupee declined 18 paise to settle at 86.04 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of

Rupee hits new low of 85.97/$; forex reserves drop further to $634 billion

The local currency edged higher by 3 paise on Friday against the previous low of 85.94 recorded on Thursday

Rupee hits 86 against US dollar for the first time, closes 14 paise lower

The rupee declined 14 paise and touched the crucial 86.00-mark (provisional) for the first time against the US dollar on Friday as it failed to resist pressure from a stronger American currency and huge outflow of foreign funds. Surging crude oil prices overseas and negative sentiment in domestic equity markets also weighed down the Indian currency, forex traders said. Also, dollar strengthened on increased demand amid the anticipation of restrictive trade measures by the new US administration after Donald Trump takes over as president on January 20. At the interbank foreign exchange, the rupee opened at 85.88, hit the intra-day peak of 85.85 before settling at the lowest-ever level of 86.00 (provisional) against the greenback, 14 paise lower from its previous close. On Thursday, the rupee gained 5 paise to settle at 85.86 against the US dollar, recovering from the steep decline of 17 paise in the preceding session. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said t

Will Trump 2.0 aid India Inc earnings? Subhash Chand of SMC Global answers

Subhash Chand Aggarwal, chairman & MD, SMC Global Securities says Trump's return may provide several benefits to India due to trade tensions between US and China

Volatile currency: Fall in rupee win some, lose some for auto industry

While exporters benefit, import-dependent firms expected to struggle