Page 23 - Rupee Vs Dollar

Rupee plunges 14 paise to close at record low of 87.57 against dollar

Rupee plunged 14 paise to close at an all-time low of 87.57 (provisional) against the US dollar on Thursday, as rising odds of a rate cut by the Reserve Bank of India in its monetary policy meeting on Friday pressurised the rupee. Forex traders said the Indian rupee plunged to fresh record lows amid weak domestic markets and importer demand for dollars. Moreover, risk aversion in global markets amid ongoing uncertainty over US trade tariffs may further weigh on the rupee. At the interbank foreign exchange, the rupee opened at 87.54 and slipped further to an all-time intraday low of 87.60 against the greenback in initial deals. The domestic unit finally settled for the day at 87.57 (provisional) against the greenback, registering a plunge of 14 paise from its previous close. On Wednesday, the rupee plunged 36 paise to close at an all-time low of 87.43 against the US dollar. The local unit has lost over 2 per cent so far this year. The sharp drop in the domestic unit comes after ne

Rupee falls 14 paise to 87.57 against US dollar in early trade today

The rupee depreciated 14 paise to hit record low of 87.57 against the US dollar in early trade on Thursday weighed down by anticipation of an RBI rate cut and weak economic data. Forex traders said the Indian rupee opened on a weak note and made a fresh record low of 87.57 as market participants anticipated that the Reserve Bank of India (RBI) may slash interest rates on February 7, 2025. Moreover, the rupee continued to face pressure due to sustained foreign fund outflows and a negative trend in domestic equities amid weak risk appetite, they added. At the interbank foreign exchange, the rupee opened at 87.54 and slipped further to all-time low of 87.57 against the greenback in initial deals, a fall of 14 paise from its previous close. On Wednesday, the rupee plunged 36 paise to close at an all-time low of 87.43 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.11 per cent higher at ...

Rupee falls 39 paise to close at all-time low of 87.46 against dollar

The rupee plunged 39 paise to close at an all-time low of 87.46 (provisional) against the US dollar on Wednesday, as global trade war concerns fuelled risk aversion among investors. Forex traders said the rupee is trading with a negative bias over global trade war as market participants mulled the impact of tariffs being imposed by the United States and China. Moreover, rate cut concerns by the Reserve Bank of India and broad strength of the American currency in the overseas market dented investor sentiments further. At the interbank foreign exchange, the rupee opened on a weak note at 87.13 and touched an intraday low of 87.49 against the American currency during the session. The local unit finally settled at a record closing low of 87.46 (provisional), lower by 39 paise over its previous close. On Tuesday, the rupee recovered 4 paise from its all-time low level to close at 87.07 against US dollar. Trump is pressing ahead with a 10 per cent tariff on US companies importing thing

Rupee falls 9 paise to 87.16 against US dollar in early trade today

The rupee traded in a narrow range and depreciated 9 paise to 87.16 against the US dollar in early trade on Wednesday, as global trade war has fuelled risk aversion among investors. Forex traders said the rupee is trading with a negative bias over global trade war as market participants mulled the impact of tariffs being imposed by the United States and China. However, any central bank intervention may support the rupee, they added. At the interbank foreign exchange, the rupee opened at 87.13 then fell further to 87.16 against the American currency, registering a decline of 9 paise over its previous close. On Tuesday, the rupee recovered 4 paise from its all-time low level to close at 87.07 against US dollar. "For now the trade war seems to have slowed down as we await comments from Donald Trump on European exports and also on currencies. Meanwhile, the rupee remains range bound within a range of 86.90/87.25," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finre

Rupee ends at 87.067 against dollar, US-China trade tensions in focus

The rupee ended at 87.0675 against the US dollar, against a record closing low of 87.1850 in the previous session, when it also fell to an all-time low of 87.28

Rupee recovers 13 paise from its all-time low of 86.98 against US dollar

The rupee recovered 13 paise from its all-time low closing level to 86.98 against the US dollar in early trade on Tuesday, after President Donald Trump agreed to pause tariffs on Mexico and Canada for 30 days. Forex traders said the US dollar index, which had surged past 109.88 level, retreated to 108.74 after Trump announced the temporary pause on tariffs. At the interbank foreign exchange, the rupee opened at 86.98 against the greenback, registering a rise of 13 paise from its previous close. On Monday, the rupee plunged 49 paise to close at an all-time low of 87.11 against the US dollar. "The Indian rupee opened near to 86.98 on Tuesday after relief from Trump's tariffs overnight on reaching an agreement with Canada and Mexico. "The range for the day is expected between 86.80 to 87.20 with dips to be bought. Premiums rose on Monday after the Reserve Bank of India set the cut off for 6 months swap higher than market expectations," said Anil Kumar Bhansali, Head of Treasury and

Not concerned about rupee value, RBI managing volatility: Finance Secretary

Amid rupee falling to a record low level of 87.29 to a dollar, Finance Secretary Tuhin Kanta Pandey on Monday said there is no concern over rupee value and the Reserve Bank of India is managing the volatility of the local currency. "There is no concern about the value of the rupee. The volatility in rupee is being managed by the RBI," Pandey told reporters. He said the Indian rupee is "free-float" and no control or fixed rate is applicable on the currency. He said the exchange rate is facing pressure amid unabated foreign fund outflows. The rupee depreciated 67 paise to hit record low of 87.29 against the US dollar in early trade on Monday after Trump Tariffs on Canada Mexico and China triggered fears of a broad trade war. Donald Trump slapped Canada and Mexico with 25 per cent duties and China with a 10 per cent duty, The move was the first strike in what could usher a destructive global trade war, forex traders said. In 2025, the Indian rupee depreciated 1.8 per cent from the 8

Rupee crosses 87 per dollar mark amid tariff hikes and safe haven demand

The rupee was trading at 87.16 per dollar at 10:31 IST.

Rupee plunges 67 paise to hit record low of 87.29 against US dollar

The rupee depreciated 67 paise to hit record low of 87.29 against the US dollar in early trade on Monday after Trump Tariffs on Canada Mexico and China triggered fears of a broad trade war. Donald Trump slapped Canada and Mexico with 25 per cent duties and China with a 10 per cent duty, The move was the first strike in what could usher a destructive global trade war, forex traders said. The rupee continued to face pressure due to sustained foreign fund outflows and the broad strength of the American currency in the overseas markets due to unabated dollar demand from oil importers and weak risk appetite, they added. At the interbank foreign exchange, the rupee opened at 87.00 and slipped further to 87.29 against the greenback in initial deals, a plunge of 67 paise from its previous close. On Friday, the rupee settled flat at 86.62 against the American currency. "The start of the week saw financial markets on edge as US President Donald Trump followed through on his tariff threats,

Rupee strained by Trump tariffs; bonds await RBI's policy decision

There was little impact on the rupee from India's federal budget on Saturday. Indian shares, which were open for a special trading session, closed lower

Rupee not depreciating against any currency other than $: FM Sitharaman

Finance Minister Nirmala Sitharaman on Sunday rejected criticism over the slide of the Indian rupee, saying it has depreciated only against a strengthening US dollar but remained stable against all other currencies because of the strong macroeconomic fundamentals. In an interview with PTI, she said a 3 per cent depreciation in the rupee against the US dollar in past few months is a matter of concern as it makes imports costlier, but she rejected criticism that the local currency has seen all-round weakness. "I am concerned but I will not accept the criticism that 'Oh Rupee is weakening!' Our macroeconomic fundamentals are strong. Rupee wouldn't be stable against all the currencies if the fundamentals were weak," she said. The Indian rupee has been under pressure in the last few months but it continues to be the least volatile currency against the US dollar among its Asian and global peers. The reasons for the rupee hitting record lows almost on a daily basis against the US dollar ..

Rupee falls 3 paise to 86.65 against US dollar during early trade

The rupee traded in a narrow range and depreciated 3 paise to 86.65 against the US dollar in early trade on Friday, ahead of the release of Economic Survey 2024-25. Finance Minister Nirmala Sitharaman will table Economic Survey 2024-25 on Friday, providing an official assessment of the performance of the economy in the ongoing financial year, and list out the challenges being faced by the nation. Forex traders said the rupee continued to face pressure due to sustained foreign fund outflows and the broad strength of the American currency in the overseas markets due to unabated dollar demand from oil importers and weak risk appetite. At the interbank foreign exchange, the rupee opened at 86.63 then fell further to 86.65 against the American currency, registering a decline of 3 paise over its previous close. On Thursday, the rupee depreciated 7 paise to close at 86.62 against the US dollar. The Indian rupee continues to struggle, hovering near its all-time low, weighed down by multip

Rupee falls 4 paise to 86.59 against US dollar during early trade

The rupee depreciated 4 paise to 86.59 against the US dollar in early trade on Thursday, after the US FED kept rates on hold and was hawkish in its outlook. Forex traders said the rupee continued to face pressure due to sustained foreign fund outflows and broad strength of the American currency in the overseas market. At the interbank foreign exchange, the rupee opened at 86.58 then fell further to 86.59 against the American currency, registering a decline of 4 paise over its previous close. On Wednesday, the rupee pared its initial losses and settled for the day on a positive note, higher by 2 paise to close at 86.55 against the US dollar. The US FED kept rates on hold but was hawkish in its outlook as it said rates would be held higher for longer and downplaying expectations for future rate cuts. "The US Federal Reserve's decision to hold rates at 4.25 per cent-4.50 per cent has further added to the rupee's woes. Despite pressure from former President Donald Trump for deeper cut

Paring initial losses, Rupee rises 2 paise to close at 86.55 against dollar

The rupee pared its initial losses and settled for the day on a positive note, higher by 1 paisa to close at 86.56 (provisional) against the US dollar on Wednesday, supported by positive domestic markets, while a strong US dollar and a recovery in crude oil prices capped sharp gains. Forex traders said the US dollar gained on expectations of a no rate cut by the Fed in its Federal Open Market Committee (FOMC) decision. Besides, global risk sentiments were dampened amid tariff threats by the US President Donald Trump, they said. At the interbank foreign exchange, the rupee opened on a weak note at 86.58, and during the day touched a high of 86.49 and a low of 86.61 against the American currency. The local unit settled on a positive note at 86.56 (provisional), registering a rise of 1 paisa over its previous close. On Tuesday, the rupee depreciated 26 paise to close at 86.57 against the US dollar. "We expect the rupee to trade with negative bias on underlying strength in the US doll

Rupee falls 4 paise to 86.61 against US dollar during early trade

The rupee depreciated 4 paise to 86.61 against the US dollar in early trade on Wednesday, due to sustained foreign fund outflows, unabated dollar demand from oil importers and weak risk appetite. Forex traders said the rupee continued to face pressure as investors are awaiting cues from the US FED meeting outcome. Besides, global risk sentiments were dampened amid tariff threats by the US President Donald Trump, they said. At the interbank foreign exchange, the rupee opened at 86.58 then fell further to 86.61 against the American currency, registering a decline of 4 paise over its previous close. On Tuesday, the rupee depreciated 26 paise to close at 86.57 against the US dollar. Forex traders said broad dollar demand, foreign fund outflows pressurised the rupee. However, a decline in crude oil prices cushioned the downside. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 107.83, lower by 0.03 per cent. Brent crude, the

Rupee falls 25 paise to close at 86.56 against dollar amid tariff threats

The rupee depreciated 25 paise to close at 86.56 (provisional) against the US dollar on Tuesday, as global risk sentiments were dampened amid tariff threats by the US President Donald Trump. Forex traders said the rupee continued to face pressure due to sustained foreign fund outflows and the strength of the American currency in the overseas market amid unabated dollar demand from oil importers and weak risk appetite. At the interbank foreign exchange, the rupee opened on a weak note at 86.53, and during the day touched a high of 86.50 and a low of 86.57 against the American currency. The local unit settled for the day at 86.56 (provisional), registering a fall of 25 paise over its previous close. On Monday, the rupee depreciated 9 paise to close at 86.31 against the US dollar. "The Indian rupee declined as global risk sentiments were dampened amid tariff threats by the US President Donald Trump. This impacted the Chinese Yuan, which also led to strengthening of the US dollar," sa

Rupee falls 26 paise to 86.57 against US dollar during early trade

The rupee depreciated 26 paise to 86.57 against the US dollar in early trade on Tuesday, due to unabated dollar demand from oil importers and weak risk appetite. Forex traders said the rupee continued to face pressure due to sustained foreign fund outflows and the strength of the American currency in the overseas market. Moreover, the upcoming Union Budget will play a crucial role in shaping market sentiment and the rupee's trajectory, as expectations are high for favourable measures aimed at rekindling foreign investments. At the interbank foreign exchange, the rupee opened at 86.53 then fell further to 86.57 against the American currency, registering a decline of 26 paise over its previous close. On Monday, the rupee depreciated 9 paise to close at 86.31 against the US dollar. The Indian rupee fell this morning as risk aversion was the name of the game, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. "FPIs continued their selling

Rupee depreciates 22 paise to 86.44 against US dollar in early trade

The rupee depreciated 22 paise to 86.44 against the US dollar in early trade on Monday, weighed down by the strength of the American currency in the overseas market and a muted trend in domestic equities. Forex traders said the Indian rupee gained on Friday but opened on a lower note on Monday as Trump Tariffs uncertainty gained. At the interbank foreign exchange, the rupee opened at 86.35 then fell further to 86.44 against the American currency, registering a decline of 22 paise over its previous close. On Friday, the rupee appreciated 22 paise to close at 86.22 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 107.67, higher by 0.21 per cent, after Trump threatened to apply 25 per cent Tariffs on Colombia after the plane carrying migrants was returned by the country. Meanwhile, the US has paused sanctions and tariffs on Colombia after it agreed to accept all the terms of President Donald Trump, ..

Dollar on track for worst week since Nov 2023 amid Trump policy fears

The dollar index was last down 0.67 per cent on the day at 107.42. It reached 110.17 on Jan. 13, the highest since November 2022

Weaker rupee seen as boost for exports, but reality is more complex: FIEO

A weaker rupee is often seen as a boost for Indian exports by making goods more competitive globally, but the reality is more complex, the apex exporters' body FIEO said on Friday. Federation of Indian Export Organisations (FIEO) President Ashwani Kumar also said the recent depreciation of the domestic currency against the US Dollar represents a complex economic scenario with mixed outcomes. "A weaker rupee is not a one-size-fits-all solution to boost exports. A strategic, multi-pronged approach is needed to address the root causes of depreciation while mitigating its adverse effects," he said. Explaining it further, he said, that if the rupee depreciates by 2 per cent and the currencies of key competitors decline by 3-5 per cent, Indian exporters lose competitiveness in global markets. "This relative disadvantage erodes any potential price advantage Indian goods might gain," Kumar added. The domestic currency has depreciated over 4 per cent last year. The rupee closed at 86.22 .