Page 42 - Indian Rupee

Rupee falls 8 paise to 87.40 against US dollar during early trade

The rupee declined 8 paise to 87.40 against the US dollar in early trade on Tuesday, weighed down by persistent foreign fund outflows and a prevailing liquidity deficit. Forex traders said the ongoing uncertainty surrounding tariff imposition by the US has left financial markets in flux. Moreover, the tariff chaos has injected volatility and uncertainty into the US Dollar Index. At the interbank foreign exchange, the rupee opened at 87.38, then fell to 87.40 against the American currency, registering a decline of 8 paise over its previous close. On Monday, the rupee settled with a gain of 5 paise at 87.32 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 106.61, lower by 0.12 per cent, amid escalating trade tensions, which have been triggered by US. President Donald Trump's renewed tariff policies. Brent crude, the global oil benchmark, quoted 0.63 per cent lower at USD 71.17 per barrel in futures

Rupee appreciates 9 paise to 87.28 against US dollar in early trade

The rupee appreciated 9 paise to 87.28 against the US dollar in early trade on Monday as the American currency index retreated from elevated level and domestic equity markets indicated some recovery after firm macroeconomic data. According to forex traders, withdrawal of foreign capital is expected to halt as the latest government data released on Friday showed the country's economy grew by 6.2 per cent in the October-December quarter, recovering sequentially from seven-quarter lows. However, the volatility triggered by the US tariff continued to linger, leading to an increase in crude oil prices and capping a sharp gain in the domestic currency, they said. At the interbank foreign exchange, the rupee opened at 87.36 and gained further ground to 87.28 against the American currency, registering a gain of 9 paise from its previous close. On Friday, the rupee fell 19 paise to settle at 87.37 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength aga

Rupee falls 19 paise to 87.37 against US dollar during early trade

The rupee declined 19 paise to 87.37 against the US dollar in early trade on Friday, as the strength of the American currency and a negative trend in domestic equities dented investor sentiments. Forex traders said the ongoing uncertainty surrounding tariff imposition by the US has left financial markets in flux. Moreover, the tariff chaos has injected volatility and uncertainty into the US Dollar Index. At the interbank foreign exchange, the rupee opened at 87.32, then fell to 87.37 against the American currency, registering a decline of 19 paise over its previous close. On Thursday, the rupee settled almost flat with a marginal gain of 1 paisa at 87.18 against US dollar. "The Indian rupee depreciated by 20 paise influenced by rising geopolitical tensions and the looming threat of trade wars," CR Forex Advisors MD Amit Pabari said. Moreover, the Reserve Bank of India is actively intervening near the 87.40 level to curb excessive depreciation of the rupee, Pabari said, adding that

Rupee reverses losses, ends flat at 87.2 per dollar on likely RBI support

The rupee opened six paise weaker against the greenback, tracking the rise in the dollar index

Rupee falls 22 paise to 87.41 against US dollar in early trade today

The rupee declined 22 paise to 87.41 against the US dollar in early trade on Thursday after the latest tariff announcements from the US weighed on emerging currencies, including the rupee. Forex traders said the latest tariff announcements from the US have sent shockwaves through global markets, strengthening the dollar. At the interbank foreign exchange, the rupee opened at 87.26, then fell to 87.41 against the American currency, registering a decline of 22 paise over its previous close. On Tuesday, the rupee fell sharply by 47 paise to settle at 87.19 against the US dollar. On Wednesday, equity, forex, commodity markets were closed on account of Mahashivratri. Global financial markets experienced renewed volatility as US President Donald Trump reaffirmed his commitment to tariffs, announcing that duties on Canada and Mexico would take effect from April 2. Adding to trade tensions, he hinted at a potential 25 per cent reciprocal tariff on European goods, escalating fears of a ..

Rupee records steepest single-day fall in 3 weeks against US dollar

The rupee depreciated by around 50 paisa, or 0.58 per cent, to settle at 87.21 against the dollar, compared to the previous close of 86.71 per dollar

India's 10-year bond yield flat as debt supply, rupee decline hurts

Heavy supply from states and the upcoming central government supply also curbed any movement in the longer-duration bond yields

Gold jumps Rs 250 to Rs 89,350 per 10 gm amid rupee depreciation concerns

Gold prices jumped by Rs 250 to Rs 89,350 per 10 grams on Tuesday extending gains for the second day amid depreciation in rupee, according to the All India Sarafa Association. The gold of 99.5 per cent purity rose by Rs 250 to Rs 88,950 per 10 grams from the previous close of Rs 88,700 per 10 grams. On February 20, gold of 99.9 per cent and 99.5 per cent purity hit all-time highs of Rs 89,450 and Rs 89,050 per 10 grams, respectively. However, silver prices slipped below the Rs 1 lakh mark, falling by Rs 500 to Rs 99,500 per kg. "Silver fell due to weakness in the industrial metals and rebound in the dollar index. Global equity markets are also struggling due to Trump's tariff fears and pressure on industrial metals but reversal in the US Treasury yields could support silver prices at lower levels," Rahul Kalantri, VP Commodities at Mehta Equities Ltd, said. On Tuesday, the rupee fell sharply by 51 paise to settle at 87.23 (provisional) against the US dollar due to month-end dollar

Rupee depreciates 16 paise to 86.88 against US dollar in early trade

The rupee declined 16 paise to 86.88 against the US dollar in early trade on Tuesday amid a strengthening greenback, sustained FII outflows, and a rise in Brent crude prices. A rebound in the domestic equity markets prevented further fall in the domestic unit, according to forex traders. At the interbank foreign exchange, the local unit opened at 86.83, before sliding further to 86.88, down 16 paise from Monday's close of 86.72. "The rupee was again sold off on Monday as month-end dollar demand kept rupee lower from a high of 86.56 to 86.75. Due to risk of sentiments, the market is expected to buy dollars to take it higher against the rupee," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. Meanwhile, the domestic equity markets rebounded on Tuesday with the 30-share BSE Sensex rising 117.57 points to 74,571.98 in early trade, while Nifty was up 31.3 points to 22,584.65. The dollar index, which gauges the greenback's strength agains

Rupee dips 4 paise to 86.72 amid falling equities, rising crude prices

The rupee dropped 4 paise to 86.72 (provisional) against the US dollar on Monday amid a steep fall in the domestic equity markets and a rise in Brent crude prices. However, a flat greenback against major currencies prevented further decline in the domestic unit, according to forex traders. At the interbank foreign exchange, the local unit opened at 86.58, went up 10 paise from Friday's close of 86.68, but gave way through the session. It eventually settled at 86.72 (provisional), 4 paise lower than the previous day's close. "The RBI is all set to do a 3-year buy/sell swap of USD 10 billion on February 28 to ease the tightening liquidity position, thus bringing premiums further down. Exporters may sell the cash dollars requirement on all upticks while importers may buy good dips," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was

Rupee appreciates 1 paisa to 86.67 against US dollar in early trade

The rupee rose 1 paisa to 86.67 against the US dollar in early trade on Monday amid a weakening greenback against international currencies. However, a sharp fall in the domestic equity markets in morning trade, a decline in the country's forex reserves and sustained FII outflows prevented further gains, forex traders said. At the interbank foreign exchange, the domestic unit opened at 86.58, up 10 paise against the US dollar, but gave up initial gains to reach 86.67, just 1 paisa higher than Friday's close. On Friday, the rupee pared initial gains and settled 4 paise lower at 86.68 against the US dollar. The rupee is expected to trade in a range of 86.35-75 as the market gives opportunity for both exporters and importers to sell and buy their currencies, Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.39 per cent low

Rupee rises 14 paise to 86.50 against US dollar during early trade

The rupee appreciated 14 paise to 86.50 against the US dollar in early trade on Friday, fuelled by the broad weakening of the US dollar, which faced downward pressure from lackluster economic data. Forex traders said rupee is expected to trade with a slight negative bias on weak domestic equities and foreign fund outflows. However, overall weakness in crude oil prices may cushion sharp downside. At the interbank foreign exchange, the rupee opened at 86.50 against the greenback, up 14 paise from its previous close. On Thursday, the rupee appreciated 34 paise to close at 86.64 against the US dollar. "The dollar's weakness created a favourable environment for the Indian rupee," CR Forex Advisors MD - Amit Pabari said, adding that "India's robust real yield of 2.39 per cent attracted capital, supported by the Reserve Bank of India's proactive interventions". Investors will await cues from the minutes of the RBI's monetary policy meeting, that is expected to provide further insights in

After Tuesday fall, rupee rises 33 paise to close at 86.65 against dollar

The rupee appreciated 33 paise to close at 86.65 (provisional) against the US dollar on Thursday, supported by the weakening of the American currency in the overseas market. Forex traders said there is a negative bias for the USD/INR pair amid a muted trend in domestic equities and the unabated foreign fund outflow is weighing on investor sentiments. At the interbank foreign exchange, the rupee opened at 86.88 and touched the high of 86.58 and a low of 86.88 against the greenback during intraday. It ended the session at 86.65 (provisional) against the dollar, logging a gain of 33 paise from previous close. On Tuesday, the rupee depreciated 10 paise to close at 86.98 against US dollar. The forex market was closed on Wednesday on account of 'Chatrapati Shivaji Maharaj Jayanti'. "The Indian rupee gained strength after lingering within a confined range for the past five days. This ascent was propelled by foreign banks dollar selling and the persistent unwinding of long positions by ma

Rupee performed well due to strong forex reserves, says Piyush Goyal

Union Commerce Minister Piyush Goyal on Thursday said the Indian rupee has performed well compared to other global currencies due to the country's strong foreign currency reserves. He also said that a skill development centre and a startup incubation centre will come up at AURIC (the industrial node of Shendra and Bidkin) in the near term. Goyal held a meeting with representatives of the industrial association at the AURIC hall on Wednesday to discuss issues related to industrial zones. He addressed the press on Thursday regarding the issues raised in the meeting. While talking about the downfall of the Indian rupee, he said, "The Indian rupee has strengthened in comparison to the emerging economies of the country. After US elections almost all the currencies across the globe have come down. But India had good reserves of foreign exchange so the Indian rupee performed better than that of other currencies". Goyal said, "We had a conversation with the industrial representatives on

Rupee appreciates 19 paise to 86.79 against US dollar in early trade

The rupee appreciated 19 paise to 86.79 against the US dollar in early trade on Thursday, as the American currency and crude oil prices retreated from their elevated levels. Forex traders said there is a negative bias for the USD/INR pair amid a muted trend in domestic equities and the unabated foreign fund outflow is weighing on investor sentiments. At the interbank foreign exchange, the rupee opened at 86.88 and gained further ground to trade at 86.79 against the greenback during early deals, up 19 paise from its previous close. On Tuesday, the rupee depreciated 10 paise to close at 86.98 against US dollar. The forex market was closed on Wednesday on account of 'Chatrapati Shivaji Maharaj Jayanti' Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.16 per cent lower at 107. Brent crude, the global oil benchmark, fell 0.34 per cent to USD 75.78 per barrel in futures trade. Forex traders said on the domestic fro

Net short position of RBI's forward book swells to $67.9 billion

REER moderates to 104.82 in January

Rupee declines 10 paise to close at 86.98 against dollar amid rise in crude

Elevated interbank dollar demand due to the maturity of positions in the NDF market weighed on the rupee alongside likely outflows from local stocks

Rupee falls 8 paise to 86.96 against US dollar in early trade today

The rupee depreciated 8 paise to 86.96 against the US dollar in early trade on Tuesday, weighed down by sustained foreign fund outflows and a negative trend in domestic equities. Forex traders said there is a negative bias for the USD/INR pair as foreign investors continue to sell domestic equities and the RBI support is tapering off slowly. At the interbank foreign exchange, the rupee opened at 86.94 then fell further to 86.96 against the American currency, registering a decline of 8 paise over its previous close. On Monday, the rupee depreciated 17 paise to close at 86.88 against the US dollar. Traders said the central bank's measures, coupled with the absence of anticipated US tariffs, have alleviated trade-related concerns, but despite this challenges persists on the domestic macroeconomic front. India's exports declined for the third month in a row in January, falling by 2.38 per cent year-on-year to USD 36.43 billion, while the trade deficit widened to USD 22.99 billion in t

Forex reserves increase $7.65 bn to $638.26 bn in week ended Feb 7

India's forex reserves jumped by USD 7.654 billion to USD 638.261 billion in the week ended February 7, the RBI said on Friday. This is the third consecutive week of a jump in the kitty, which had increased by USD 1.05 billion to USD 630.607 billion for the week ended January 31. The reserves had been on a declining trend recently due to revaluation along with forex market interventions by RBI to help reduce volatilities in the rupee. The forex reserves had increased to an all-time high of USD 704.885 billion at end-September 2024. For the week ended February 7, foreign currency assets, a major component of the reserves, increased by USD 6.422 billion to USD 544.106 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves increased by USD 1.315 billion to USD 72.208 billion during the week,

RBI intervention boosts rupee to strongest weekly gain in 19 months

On Monday, the rupee slipped to an all-time low of 87.95 against the dollar, but the fall was limited as the RBI intervened by selling dollars in the spot market