Rupee

Rupee falls 48 paise to 96.16 against US dollar during early trade

The rupee depreciated 48 paise to 96.16 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 due to a combination of factors -- crude oil prices climbed on renewed geopolitical tensions, while demand for the US dollar increased as investors moved toward safe-haven assets. At the interbank foreign exchange market, the rupee opened at 95.95 then lost ground and touched 96.16 registering a fall of 48 paise from its previous close. On Monday, the rupee depreciated 30 paise to close at 95.68 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 101.17, down 0.06 per cent. Brent crude, the global oil benchmark, was trading higher by 2.02 per cent at USD 84.98 per barrel in futures trade amid concerns over disruptions to supplies through the Strait of Hormuz. I

Rupee hits 1-month low as West Asia tensions, oil prices weigh on sentiment

The rupee fell to a one-month low against the US dollar as rising crude oil prices and renewed tensions in West Asia weighed on sentiment, with RBI intervention limiting losses

Rupee falls 39 paise to 95.77 against US dollar during early trade

The rupee fell 39 paise to 95.77 against the American currency in early trade on Monday, weighed down by elevated crude oil prices. Forex traders said with Brent oil prices rising over USD 79 to the barrel the Indian rupee is expected to open weaker at 95.53 levels after Iran declared the Strait of Hormuz as closed. At the interbank foreign exchange market, the rupee opened at 95.72, then touched 95.77 against the US dollar, registering a loss of 39 paise from its previous close. On Friday, the rupee rose 9 paise to settle at 95.38 against the US dollar. "The renewed fighting between the US and Iran revived fears of a major disruption to global Crude supplies," 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 101.12, up 0.17 per cent. Meanwhile, Brent crude, the global oil benchmark, was trading higher by 4.05 per ce

Rupee rises 15 paise to 95.32 against US dollar during early trade

The rupee rose 15 paise to 95.32 against US dollar in early trade on Friday as the greenback weakened and oil prices eased despite intensifying tensions in West Asia. FII outflows and uncertainties over fresh tensions in West Asia weighed on the local unit while a strong start to the day's trade at the domestic equity markets provided support, according to forex traders. The US launched new airstrikes against Iran on early Thursday, and Tehran responded by targeting US-allied West Asian countries in an exchange of fire that threatened an interim deal intended to help end the war. Back-and-forth attacks, including a day earlier, have repeatedly threatened the ceasefire. But Thursday's appeared bigger all around, with sirens sounding at least three times in Bahrain, home to the US Navy's 5th Fleet headquarters, and missiles targeting Kuwait and Qatar. At the interbank foreign exchange market, the rupee opened at 95.27 against the greenback before slipping to 95.32, up 15 paise from i

RBI faces $100 billion unwinding challenge after record defence of rupee

With a spate of recent measures expected to attract foreign capital, the RBI has started trimming its massive short dollar forward position, a stock of commitments to sell the greenback at future date

Rupee slips 4 paise to 95.52 against US dollar during early trade

The rupee fell 4 paise to 95.52 against the US dollar in early trade on Thursday, weighed down by surging crude oil prices after fresh tensions in West Asia rattled sentiments worldwide, raising fears of uncertainties over global trade. According to analysts, oil prices soared to their highest point in weeks after President Donald Trump announced an end to the ceasefire with Iran in response to Iranian attacks on commercial ships in the Strait of Hormuz and on American military sites in other Gulf nations. However, positive sentiment in domestic equity markets supported the Indian currency, they said. At the interbank foreign exchange market, the rupee opened at 95.52 and remained weaker against the US dollar, down 4 paise from its previous close. On Wednesday, the rupee plunged 52 paise to settle at 95.48 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 100.98, down 0.09 per cent. Brent c

Weak rupee weighs on BMW India margins; further price hikes on the cards

BMW Group India said every Re 1 depreciation in the rupee against the euro trims its profit margin by about 1 per cent, prompting the company to consider further price increases

Rupee hits one-month low as oil soars after Trump says Iran deal is 'over'

The rupee fell to a one-month low against the dollar as oil prices surged after Donald Trump said the Iran accord was "over", raising supply disruption fears

Rupee declines 20 paise to 95.16 against US dollar during early trade

The rupee slipped 20 paise to 95.16 against the greenback in early trade on Wednesday as the US launched fresh strikes on Iran after Tehran struck three ships in the Strait of Hormuz, pushing up crude oil prices and strengthening the dollar. A weaker opening in the domestic equity markets further pressured the local unit, according to forex traders. At the interbank foreign exchange market, the rupee opened at 95.15 against the US dollar before slipping further to 95.16, down 20 paise from its previous close. On Tuesday, the rupee appreciated 47 paise to close at 94.96 against the US dollar. "The rupee opened at 95.15 levels on Wednesday as the dollar index moved higher and Brent crude touched USD 76 levels with most Asian currencies also falling against the dollar," 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 at .

Rupee strengthens 15 paise to 95.28 against US dollar in early trade

The rupee appreciated 15 paise to 95.28 against the US dollar in early trade on Tuesday on improved market sentiment after reports that Saudi Arabia has slashed August crude oil prices for Asia amid easing of geopolitical tensions in the Middle East. Forex traders said lower Middle East risk premium and higher traffic from the Strait of Hormuz kept the oil prices lower. At the interbank foreign exchange market the rupee opened at 95.33 and later touched 95.28 against the American currency, registering a gain of 15 paise from its previous close. On Monday, the rupee had settled at 95.43 against the US dollar. The positive factor for the Indian rupee was Saudi Arabia slashing Asia oil prices by USD 11 per barrel in a record cut in the last 26 years amid improving supply conditions, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. Bhansali further noted that the buying by Indian oil companies also was indicated by the fact that Indian Oi

Rupee hits three-week low as OMC dollar demand, NDF maturities weigh

The rupee slipped to a three-week low as dollar buying by oil firms and NDF demand offset support from lower crude oil prices

Rupee declines 10 paise to 95.28 against US dollar during early trade

The rupee fell 10 paise to 95.28 against the American currency in early trade on Monday, weighed down by the broad strength of the American currency in the overseas market. Forex traders said whenever fresh foreign inflows enter the country, the central bank is likely to use the opportunity to rebuild its reserve position rather than allowing the rupee to strengthen too much. Moreover, uncertainty prevailed over the progress of US-Iran peace talks keeping a geopolitical risk premium in the market. At the interbank foreign exchange market, the rupee opened at 95.25, then touched 95.28 against the US dollar, registering a loss of 10 paise from its previous close. On Friday, the rupee appreciated 17 paise to close at 95.18 against the US dollar. "The message from last week is simple. When the rupee cannot rally on good news like falling oil and a softer dollar, it tells you the underlying mood is fragile. Any fresh negative trigger could push USDINR towards the 95.80 to 96.00 zone, w

Rupee rises 19 paise to 95.16 against US dollar during early trade

The rupee appreciated 19 paise to 95.16 against US dollar in early trade on Friday, as the dollar index retreated from its recent 15-month high levels. Forex traders said despite a weaker dollar index and lower crude oil prices rupee is still facing pressure from robust dollar demand from importers and corporate hedgers. At the interbank foreign exchange market, the rupee opened at 95.20, then touched 95.16 against the US dollar, registering a gain of 19 paise from its previous close. On Thursday, the rupee pared initial gains and settled for the day on a negative note, lower by 19 paise at 95.35 against the US dollar. Despite a weaker dollar index and lower crude oil prices, the rupee still weakened on Thursday. "If the rupee cannot strengthen on positive global cues, any negative development could easily push USDINR towards the 95.80 to 96.00 zone," CR Forex Advisors MD Amit Pabari said. Pabari further added that the Reserve Bank of India is focused on restoring its forex reserv

Rupee rises 26 paise to 94.90 against US dollar during early trade

The rupee appreciated 26 paise to 94.90 against US dollar in early trade on Thursday, supported by easing crude oil prices. Forex traders said the rupee opened on a positive note as crude oil prices have fallen back to levels seen before the West Asia conflict. Even global risk sentiment has stabilised compared to the panic witnessed a few weeks ago. Foreign investors poured nearly USD 5.3 billion into Indian bond markets during June, marking the first month of positive inflows after three consecutive months of outflows, they said. At the interbank foreign exchange market, the rupee opened at 94.95, then touched 94.90 against the US dollar, registering a gain of 26 paise from its previous close. On Wednesday, the rupee depreciated 60 paise to close at 95.16 against the US dollar. "... As fresh foreign capital starts entering India, markets believe the RBI may continue absorbing a significant portion of these inflows rather than allowing them to fully strengthen the rupee," CR Fore

Rupee falls 19 paise to 94.75 against US dollar during early trade

The rupee fell 19 paise to 94.75 against the American currency in early trade on Wednesday, weighed down by the strength of the American currency in the overseas market. Forex traders said whenever fresh foreign inflows enter the country, the central bank is likely to use the opportunity to rebuild its reserve position rather than allowing the rupee to strengthen too much. Moreover, uncertainty prevailed over the progress of US-Iran peace talks keeping a geopolitical risk premium in the market. At the interbank foreign exchange market, the rupee opened at 94.67, then touched 94.75 against the US dollar, registering a loss of 19 paise from its previous close. On Tuesday, the rupee depreciated by 5 paise to close at 94.56 against the US dollar. "The global dollar is also adding pressure. After the US Federal Reserve maintained a cautious stance in its latest policy meeting, the Dollar Index has continued to hold above the 101 mark," CR Forex Advisors MD Amit Pabari said. As long as

Rupee falls 7 paise to 94.58 against US dollar despite stable oil prices

The rupee fell 7 paise to 94.58 against the American currency in early trade on Tuesday, as month-end demand for dollars from importers and corporates added pressure on the domestic unit. Forex traders said the losses for the rupee were partly cushioned by relatively stable crude oil prices globally. However, concerns about potential supply disruptions in the Gulf and continued uncertainty around the Strait of Hormuz weighed on investor sentiments. At the interbank foreign exchange market, the rupee touched 94.58 against the US dollar, registering a loss of 7 paise from its previous close. On Monday, the rupee pared initial gains and settled lower by 6 paise at 94.51 against the dollar. "As June draws to a close, month-end and quarter-end dollar demand has started showing up once again. Importers, corporates, and banks typically use this period to square positions and meet payment obligations, creating additional demand for dollars," CR Forex Advisors MD Amit Pabari said. The dol

Rupee rises 20 paise to 94.25 against US dollar during early trade

The rupee appreciated 20 paise to 94.25 against the US dollar in early trade on Monday supported by easing crude oil prices, even as a firm US dollar and tepid investor risk appetite weighed on sentiments. Forex traders said the rupee opened on a positive note with oil prices remaining supportive and foreign inflows improving. The overall bias remains positive for the rupee, they said, adding that the immediate hurdle remains the US dollar, which continues to hold firm near a 13-month high. At the interbank foreign exchange market the rupee opened at 94.36, then gained momentum and touched 94.25, registering a gain of 20 paise from its previous low. On Thursday, the rupee settled at 94.45 against the US dollar. Indian stock, currency, and commodities markets were shut on Friday on account of Muharram. "The rupee may remain under pressure amid a firm US dollar and the risk of a rebound in crude oil prices, though bond inflows could offer some support. Technically, 93.5094.10 is a .

Rupee, bonds gain as oil falls below pre-Iran war levels; FPIs buy debt

The rupee rose for a fourth straight session and bond yields eased as crude oil prices fell below pre-conflict levels and strong foreign debt inflows lifted market sentiment

Rupee rises 31 paise to 94.24 against US dollar as oil prices fall

The rupee rose 31 paise to 94.24 against the US dollar in early trade on Thursday as global crude oil prices continued to decline and went below levels seen before the start of the West Asia conflict. A weaker greenback and positive sentiments in the domestic equity market further supported the local unit while heavy FII outflows prevented a sharper rise, forex traders said. At the interbank foreign exchange market, the rupee opened at 94.30 against the US dollar and strengthened further to 94.24, up 31 paise from its previous close. The rupee appreciated 21 paise to settle at 94.55 against the US dollar on Wednesday. "The rupee opened stronger at 94.30 against the US dollar, supported by a sharp decline in global crude oil prices, which fell below levels seen before the Iran conflict. Brent crude is down more than 10 per cent this week and above 21 per cent for the month, easing concerns over India's import bill and supporting the domestic currency," Pinky Yadav, Commodity ...

Rupee falls 10 paise to 94.86 against US dollar during early trade

Rupee declined 10 paise to 94.86 against the US dollar in early trade on Wednesday as the greenback continued to gain in strength. However, sharp decline in global crude oil prices and FII inflows supported the local unit to prevent a sharper decline, forex traders said. At the interbank foreign exchange, the rupee opened at 94.88 before rising marginally to 94.86, down 10 paise from its previous close. The rupee declined 13 paise to close at 94.76 against the US dollar on Tuesday. "The rupee opened weaker against the dollar, extending its third straight session of pressure as the greenback stayed broadly firm. Early trade suggests the pair may remain biased higher as importer demand and dollar buying continue to outweigh selective exporter supply," Kaveri More, Commodity Analyst Technical Commodity Analyst at Choice Broking, said. "A sustained break above 95 could open the door toward 95.50 and then 96.00, while immediate support is seen around 94.10-94. Near-term direction will