Forex reserves at record high of $724 billion
Rupee slips on dollar outflows but logs its strongest weekly gain in over three years after India-US trade deal lifts sentiment
The rupee strengthened marginally on Thursday on modest inflows from a bond issue, but importer demand for dollars and foreign outflows kept gains limited ahead of the RBI's policy decision
The foreign lender had earlier forecast the currency at 90.50-91.00 levels
Rupee posts its biggest single-day gain in seven years as US tariff cut to 18 per cent boosts sentiment and triggers unwinding of speculative short positions
The rupee's gains come after India and the US reached a trade agreement following months of negotiations, although details of the pact are yet to be released
RBI intervention via dollar sales prevented the rupee from breaching the 92 mark, even as it closed at a fresh low amid FPI outflows and dollar strength
The Economic Survey 2025-26 highlighted three possible scenarios emerging in the year ahead that can have an impact on how the global economies shape up going ahead
CEA V Anantha Nageswaran said that inflation is largely contained, rainfall and agricultural prospects are supportive, external liabilities remain low, and banks are in good health
Trade deal with US could reverse the fortune of the Indian currency
The rupee hitting a historic low of 92 against the US dollar on January 23 is likely to make imports ranging from crude oil to electronic goods, overseas education and foreign travel costlier, stoke inflation concerns, but may offer some relief to exporters. The local currency has slumped by 202 paise, or over 2 per cent, so far this month. In 2025, it had plunged 5 per cent on unabated foreign fund outflows and dollar strength. The immediate impact of a depreciating rupee is on importers who will have to shell out more for the same quantity and price. India is 85 per cent dependent on foreign oil to meet its needs for fuels, such as petrol, diesel and jet fuel. However, it is a relief for the Indian exporters as they receive more rupees in exchange for dollars. Here is how a continuously weakening rupee is likely to impact spending: IMPORTS: The basket of Indian imports includes crude oil, coal, plastic material, chemicals, electronic goods, vegetable oil, fertiliser, machinery,
The rupee fell to a fresh record low as foreign equity outflows, weak global risk sentiment and yen carry trade unwinding weighed on the currency, with RBI intervention limiting further losses
The Indian currency fell 77 paise to a fresh low of 91.75 against the US dollar on Wednesday
Renewed threats of tariffs by US President Donald Trump -- specifically targeting European nations over a dispute regarding Greenland -- have triggered a global "risk-off" sentiment
The rupee's depreciation is often seen as an opportunity - but this narrative overlooks its impact on borrowers of foreign-currency debt
At the auction, the central bank received 348 bids worth $29.94 billion and accepted 42 bids, with the cut-off premium set at 728 paise
The rupee settled at 90.03 per dollar, against the previous close of 89.89 per dollar
The local currency settled at 89.88 per dollar, against the previous close of 90.17 per dollar, after touching an intraday high of 89.83 per dollar
The rupee snapped the four-day losing streak and appreciated 12 paise to settle at 90.18 (provisional) against the American currency on Tuesday, tracking a decline in the US dollar index. Forex traders said weak domestic equity markets and geopolitical tensions between the US and Venezuela capped sharp gains for the domestic unit. At the interbank foreign exchange, the rupee opened at 90.22 against the US dollar and traded in the range of 90.08-90.25 before settling at 90.18 (provisional), up 12 paise from its previous close. On Monday, the rupee closed 10 paise lower at 90.30 against the US dollar. "We expect the Rupee to trade with a negative bias on risk aversion in global markets emanating out of geopolitical tensions between the US and Venezuela. Surge in crude oil prices and FII outflows may further pressurise the Rupee," said Anuj Choudhary, Research Analyst, Commodities Research, Mirae Asset Sharekhan. However, a weak Dollar amid disappointing US economic data and any ...
A weak rupee has wiped out nearly half of global investors' gains, leaving foreign funds waiting for a currency rebound to revive returns