Page 6 - Indian Rupee

$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

Rupee rises 22 paise to 96.51 against US dollar during early trade

The rupee rose 22 paise to 96.51 against the US dollar in early trade on Friday on likely RBI intervention to stem its further slide after global crude oil prices crossed the USD 100-mark owing to heightened tensions in West Asia. A softer greenback provided mild support to the local unit while FII outflows, coupled with sustained slide in the domestic equity markets, maintained pressure, forex traders said. At the interbank foreign exchange, the rupee opened weaker at 96.81 before rising to 96.51, up 22 paise from its previous close. The rupee ended 20 paise weaker at 96.73 against the US dollar on Thursday. The US military announced 13th night of strikes on Thursday against Iran as clashes escalate over shipping routes. The attacks came after Yemen's Houthi said they attacked two Saudi oil tankers in the Red Sea, potentially widening the Iran war as international oil topped USD 100 a barrel. "The key factors for the weak opening of the rupee were -- Brent crude oil remained ...

Rupee rises 5 paise to 96.48 against US dollar on likely RBI intervention

The rupee rose 5 paise to 96.48 against the US dollar in early trade on Thursday on possible intervention by the Reserve Bank even as heightened tensions in West Asia maintained pressure on global crude oil prices. FII outflows and sustained negative sentiments in the domestic equity markets added pressure on the local unit, while a weaker greenback provided some respite, forex traders said. At the interbank foreign exchange, the rupee opened at 96.53 before inching up to 96.48, up 5 paise from its previous close. The rupee depreciated by 28 paise to close at 96.53 against the US dollar on Wednesday. "State-owned banks were seen selling dollars -- widely viewed as intervention on behalf of the RBI -- around the 96.50 level, preventing a steeper depreciation but the closure remained lower for the rupee on Wednesday. Rupee remains near its all-time closing low and if oil prices keep rising we may see it crossing this level, too," Anil Kumar Bhansali, Head of Treasury and Executive ..

Rupee dips to 96.57/$, a 2-month low as crude oil surge weighs on sentiment

Escalating tensions in West Asia lifted crude oil prices to a six-week high, while likely RBI intervention through state-owned banks capped losses in the rupee

Rupee falls 11 paise to 96.36 against US dollar during early trade

The rupee depreciated 11 paise to 96.36 against the US dollar in early trade on Wednesday as crude oil prices climbed on renewed geopolitical tensions, and demand for the US dollar increased as investors moved toward safe-haven assets. Forex traders said concerns over the security of oil shipments through the Red Sea and Strait of Hormuz continue to support crude oil prices. Moreover, Houthi threats against shipping and ongoing US-Iran hostilities have kept a geopolitical risk premium in the market, they said. At the interbank foreign exchange market the rupee opened at 96.36, registering a fall of 11 paise from its previous close. On Tuesday, the rupee had settled at 96.25 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 101.15 down 0.01 per cent, as the latest escalation in the US-Iran conflict has increased demand for the US dollar as a safe-haven currency. Brent crude, the glob

Why a weaker rupee is not necessarily a sign of economic weakness

A stable economy does not require a permanently stable exchange rate

Rupee falls 6 paise to 96.42 against US dollar during early trade

The rupee depreciated 6 paise to 96.42 against the US dollar in early trade on Tuesday as heightened geopolitical uncertainty put pressure on most Asian currencies, including the rupee. Forex traders said the rupee came under pressure from a combination of factors -- crude oil prices climbed on renewed geopolitical tensions, and demand for the US dollar increased as investors moved toward safe-haven assets. At the interbank foreign exchange market, the rupee opened at 96.41 then touched 96.42 registering a fall of 6 paise from its previous close. On Monday, the rupee had settled at 96.36 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 100.97 up 0.03 per cent. Brent crude, the global oil benchmark, was trading lower by 0.65 per cent at USD 88.64 per barrel in futures trade. As dollar index again rose to 100.97 while oil prices were well bid at USD 88.64 per barrel, traders weighe

Rupee's depreciation pace, not level key for markets, shows 18-year history

For the world's third-largest oil importer and consumer, India, a falling rupee presents unique challenges: a weaker economy, wary foreign investors, and declining earnings quality.

RBI intervenes to support rupee as it nears record low on oil price surge

The Reserve Bank of India sold dollars in both offshore and onshore markets, traders familiar with the matter said

Rupee falls 12 paise to 96.42 against US dollar during early trade

The rupee weakened 12 paise to 96.42 against the US dollar in early trade on Monday due to a surge in crude oil prices and strong demand for the American currency amid the worsening West Asia crisis. Foreign capital outflows from domestic equity markets also weighed on the Indian currency, forex traders said. At the interbank foreign exchange, the rupee opened lower at 96.53 against the previous close of 96.30 to dollar. The local unit pared some losses to trade at 96.42 later, down 12 paise from its previous close. On Friday, the rupee gained 12 paise to settle at 96.30 against the US dollar, supported by positive domestic market sentiment and a decline in US Treasury yields. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally down by 0.05 per cent at 100.54. Brent crude, the global oil benchmark, was trading 2.45 per cent higher at USD 90.26 per barrel in futures trade, as the US and Iran have inched close

India FX traders eye oil prices, RBI defence; bonds bulls await index call

The rupee closed at 96.28 per dollar on Friday, down ​about 1% on the week, its steepest drop since May, the month in which the currency hit its all time-low of ‌96.96

Rupee rises 14 paise to 96.28 against US dollar during early trade

The rupee gained 14 paise to 96.28 against the US dollar in early trade on Friday buoyed by positive sentiments at the domestic equity markets. However, heavy FII outflows and higher global crude oil prices amid heightened tensions in West Asia prevented further gains in the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 96.35 against the greenback before rising further to 96.28, up 14 paise from its previous close. The rupee depreciated for the fourth straight day on Thursday, shedding 17 paise to settle at 96.42 against the US dollar. The US expanded its airstrike campaign against Iran early on Friday by increasingly hitting bridges, part of President Donald Trump's threats to start striking infrastructure to pressure Tehran to ease its chokehold on the Strait of Hormuz. Iran launched new missile attacks against US-allied nations in West Asia and warned that its attacks would escalate. "Continued geopolitical uncertainties in West Asia ...