Rupee

Rupee falls 7 paise to 95.22 against US dollar during early trade

The rupee remained volatile and depreciated 7 paise to 95.22 against the US dollar in early trade on Tuesday, weighed down by elevated crude oil prices, geopolitical uncertainty, and a stronger greenback ahead of the US Federal Reserve's policy decision. Forex traders said the Indian currency showed some recovery on likely intervention by the Reserve Bank of India (RBI), but failed to withstand pressure from foreign fund outflows amid subdued domestic equity market sentiment. At the interbank foreign exchange market, the rupee opened at 95.17 and pared some losses to touch 95.11 but soon lost ground to trade at 95.22 against the greenback, lower by 7 paise from its previous close. On Monday, the rupee depreciated for the third consecutive day and settled 22 paise lower at 95.15 against the US dollar. In the last three sessions, the rupee has lost 77 paise against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, w

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Rupee falls 5 paise to 94.98 against US dollar during early trade

The rupee traded in a narrow range and fell 5 paise to 94.98 against the US dollar in early trade on Monday, weighed down by elevated crude oil prices and geopolitical tensions in the Middle East. Forex traders said the rupee opened on a negative note on risk aversion in global markets amid escalation of tensions in the Middle East. However, softness in the US Dollar and US treasury yields cushioned the downside. At the interbank foreign exchange market, the rupee opened at 94.92, then lost ground to touch 94.98, lower by 5 paise over its previous close. On Friday, the rupee depreciated for the second consecutive day and fell 12 paise to close at 94.93 against the US dollar. The Indian rupee opened slightly lower on elevated crude oil prices and geopolitical tensions in the Middle East. However, softness in the US Dollar and US treasury yields cushioned the downside," said Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan. "We expect the rupee to trade with a slight negative

Ten rules for external sector stress

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Rupee troubles run deeper than crude oil surge, West Asia conflict

Global yields, hedging shifts and capital outflows add to pressure on the currency

Rupee rises 3 paise to 94.78 against US dollar during early trade

The rupee traded in a narrow range and edged up 3 paise to 94.78 against the US dollar in early trade on Friday amid elevated crude oil prices and foreign fund outflows. Forex traders said rupee is under pressure amid persistent macroeconomic headwinds, including global dollar strength and Brent crude prices hovering near USD 113 per barrel. At the interbank foreign exchange market, the rupee opened at 94.78, registering a gain of 3 paise over its previous close. On Thursday, the rupee closed at 94.81 against the American currency. Foreign investors turned cautious seeking safe-haven greenback assets amid elevated US Treasury yields, 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 trading at 101.64, higher by 0.04 per cent. Brent crude, the global oil benchmark, was trading higher by 0.42 per cent at USD 113.65 per barrel in .

IMF urges exchange rate flexibility as RBI steps up rupee defence

Exchange rates should absorb global shocks, says IMF official as India rolls out measures to support the rupee

Rupee gains for eighth straight session, longest winning streak in 8 years

The rupee strengthened to 94.47 per dollar, its strongest level in six weeks, supported by foreign inflows linked to Jio Platforms' IPO and recent RBI measures to curb dollar demand

Rupee jumps to six-week high as Jio IPO-linked inflows bolster recovery

The rupee appreciated 29 paise to 94.62 against the US dollar in early trade on Wednesday, supported by positive sentiments in the domestic market and support from the RBI. Besides, the rupee got a boost from the foreign dollar inflows tied to the Jio IPO, which opened for public subscription on Wednesday, according to analysts. However, elevated crude oil prices and a firm US dollar capped the gains. At the interbank foreign exchange market, the rupee opened stronger at 94.78, and then gained further ground to touch 94.62 against the American currency, registering a gain of 29 paise from its previous close. On Monday, the rupee settled lower by 2 paise at 94.91 against the US dollar. The forex market was closed on Tuesday on account of Dussehra. ''This strength is primarily underpinned by foreign dollar inflows tied to the Jio IPO alongside support from the Reserve Bank of India (RBI). To navigate dollar flows during the IPO allotment process, foreign investors are largely rely

Rupee rises 9 paise to 94.80 against US dollar during early trade

The rupee gained 9 paise to 94.80 against the US dollar in early trade on Monday, supported by the ongoing impact of the Reserve Bank of India's structural forex interventions. Forex traders said the rupee has witnessed its sharpest rally in seven months. However, the surge in Brent crude oil to USD 110 per barrel poses the biggest threat to this recovery. The rupee is inching closer to a key support level near 94. Constant pressure from high crude prices, rising US Treasury yields, and steady foreign capital outflows has forced the RBI to step up its market intervention, they said. At the interbank foreign exchange market, the rupee opened at 94.90 then touched 94.80 against the American currency, registering a gain of 9 paise from its previous close. On Friday, the rupee settled 10 paise higher at 94.89 against the US dollar. "With USDINR holding below 95.00 for the last 3 sessions, the focus shifts to 94.8094.70. A sustained break below 94.80 could open the way towards 94.00 ov

King Canute and the sea waves

Let the rupee find its own level but allow that to happen in a calibrated way

India wants to push rupee trade to help forex-starved nations: Sitharaman

India wants to promote trade settlements in rupee to help partner countries facing a shortage of hard currencies so that they continue importing essential goods, Finance Minister Nirmala Sitharaman said on Friday. When countries struggling to access hard currencies often face difficulties in maintaining trade despite their need to import goods, and local currency settlements could help address the problem, she said in an interaction with the Atlantic Council on the sidelines of the IMF-World Bank annual meetings at Bangkok, Thailand. "One of the things that we in India want to do is to settle in rupee, whatever the payment is got to be done by those countries which import goods from us," she said. She said India was working towards facilitating rupee and local currency settlements to ensure that trade continued with countries facing foreign currency constraints. "Rupee and local currency settlements are something which we want to do for the benefit of countries which are starved of

RBI's rupee defence comes at a cost as liquidity dries up, yields rise

The RBI's measures have curbed speculative dollar demand but tightened forex liquidity and raised hedging costs, while high oil prices and capital outflows continue to weigh on the rupee

RBI has spent half of $140 bn FX capital to defend rupee, bankers estimate

RBI has deployed an estimated $75 bn-$80 bn through spot dollar sales and currency swaps since June, as high oil prices, rising US Treasury yields and foreign equity outflows weigh on the rupee

India may need rate hikes, tax relief to ease pressure on rupee: Analysts

The rupee's rebound after the RBI's latest measures may prove short-lived as energy import dependence and weak capital inflows weigh on the currency; further rate hikes could help address the pressure

Rupee rises 31 paise to 94.86 against US dollar during early trade

The rupee appreciated 31 paise to 94.86 against the US dollar in early trade on Thursday, supported by the ongoing impact of the Reserve Bank of India's structural forex interventions and liquidity-tightening measures. Market participants attributed the rupee's continued appreciation to central bank intervention and the unwinding of long dollar positions. However, ongoing external macroeconomic pressures are likely to temper further gains, they said. At the interbank foreign exchange market, the rupee opened at 94.95, then gained ground to touch 94.86, registering a gain of 31 paise over its previous close. On Wednesday, the rupee appreciated 19 paise to close at 95.17 against the US dollar. The rupee has now crossed 95.5095.00 range, bringing 94.80 into focus, CR Forex Advisors MD Amit Pabari said. "A sustained break below 94.80 could open the door to another 5075 paise of appreciation. And the reduced direct dollar demand from oil companies could support the momentum," Pabari .

Rupee gains for third straight session, closes at 95.16 on RBI support

The rupee closed at 95.16 per dollar, up 0.13 per cent, as RBI forex measures and Governor Sanjay Malhotra's comments lent support, while importer demand capped its gains

Rupee rises 44 paise to 94.92 against US dollar during early trade

The rupee appreciated 44 paise to 94.92 against US dollar in early trade on Wednesday, supported by Reserve Bank of India interventions designed to ease near-term dollar demand and limit speculative foreign exchange exposure. Forex traders said the USD/INR pair, which has gained nearly 2 per cent in the last three trading sessions, opened on a positive note on Wednesday, largely driven by regulatory measures implemented by the RBI to limit volatility and curb speculative trading. A sustained move below the 95.00 threshold opens potential toward 94.50, but ongoing external macroeconomic pressures are likely to temper further gains, they said. At the interbank foreign exchange market, the rupee opened at 95.05, then gained ground to touch 94.92, registering a gain of 44 paise over its previous close. On Tuesday, the rupee strengthened for the third straight session and appreciated 42 paise to close at 95.36 against the US dollar. Meanwhile, Finance Minister Nirmala Sitharaman on Tue

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