Page 26 - Rupee Vs Dollar

Rupee rises 14 paise to 86.50 against US dollar during early trade

The rupee appreciated 14 paise to 86.50 against the US dollar in early trade on Friday, fuelled by the broad weakening of the US dollar, which faced downward pressure from lackluster economic data. Forex traders said rupee is expected to trade with a slight negative bias on weak domestic equities and foreign fund outflows. However, overall weakness in crude oil prices may cushion sharp downside. At the interbank foreign exchange, the rupee opened at 86.50 against the greenback, up 14 paise from its previous close. On Thursday, the rupee appreciated 34 paise to close at 86.64 against the US dollar. "The dollar's weakness created a favourable environment for the Indian rupee," CR Forex Advisors MD - Amit Pabari said, adding that "India's robust real yield of 2.39 per cent attracted capital, supported by the Reserve Bank of India's proactive interventions". Investors will await cues from the minutes of the RBI's monetary policy meeting, that is expected to provide further insights in

After Tuesday fall, rupee rises 33 paise to close at 86.65 against dollar

The rupee appreciated 33 paise to close at 86.65 (provisional) against the US dollar on Thursday, supported by the weakening of the American currency in the overseas market. Forex traders said there is a negative bias for the USD/INR pair amid a muted trend in domestic equities and the unabated foreign fund outflow is weighing on investor sentiments. At the interbank foreign exchange, the rupee opened at 86.88 and touched the high of 86.58 and a low of 86.88 against the greenback during intraday. It ended the session at 86.65 (provisional) against the dollar, logging a gain of 33 paise from previous close. On Tuesday, the rupee depreciated 10 paise to close at 86.98 against US dollar. The forex market was closed on Wednesday on account of 'Chatrapati Shivaji Maharaj Jayanti'. "The Indian rupee gained strength after lingering within a confined range for the past five days. This ascent was propelled by foreign banks dollar selling and the persistent unwinding of long positions by ma

Rupee appreciates 19 paise to 86.79 against US dollar in early trade

The rupee appreciated 19 paise to 86.79 against the US dollar in early trade on Thursday, as the American currency and crude oil prices retreated from their elevated levels. Forex traders said there is a negative bias for the USD/INR pair amid a muted trend in domestic equities and the unabated foreign fund outflow is weighing on investor sentiments. At the interbank foreign exchange, the rupee opened at 86.88 and gained further ground to trade at 86.79 against the greenback during early deals, up 19 paise from its previous close. On Tuesday, the rupee depreciated 10 paise to close at 86.98 against US dollar. The forex market was closed on Wednesday on account of 'Chatrapati Shivaji Maharaj Jayanti' Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.16 per cent lower at 107. Brent crude, the global oil benchmark, fell 0.34 per cent to USD 75.78 per barrel in futures trade. Forex traders said on the domestic fro

Rupee declines 10 paise to close at 86.98 against dollar amid rise in crude

Elevated interbank dollar demand due to the maturity of positions in the NDF market weighed on the rupee alongside likely outflows from local stocks

Rupee falls 8 paise to 86.96 against US dollar in early trade today

The rupee depreciated 8 paise to 86.96 against the US dollar in early trade on Tuesday, weighed down by sustained foreign fund outflows and a negative trend in domestic equities. Forex traders said there is a negative bias for the USD/INR pair as foreign investors continue to sell domestic equities and the RBI support is tapering off slowly. At the interbank foreign exchange, the rupee opened at 86.94 then fell further to 86.96 against the American currency, registering a decline of 8 paise over its previous close. On Monday, the rupee depreciated 17 paise to close at 86.88 against the US dollar. Traders said the central bank's measures, coupled with the absence of anticipated US tariffs, have alleviated trade-related concerns, but despite this challenges persists on the domestic macroeconomic front. India's exports declined for the third month in a row in January, falling by 2.38 per cent year-on-year to USD 36.43 billion, while the trade deficit widened to USD 22.99 billion in t

Rupee rises 8 paise to 86.85 against US dollar during early trade

The rupee appreciated 8 paise to 86.85 against the US dollar in early trade on Friday as the American currency retreated from elevated level and domestic equity markets shows favourable trend. The local unit, however, remained under pressure due to unabated foreign fund withdrawal and higher crude oil prices, forex traders said. At the interbank foreign exchange, the rupee opened at 86.86 and gained further ground to trade at 86.85 against the greenback during early deals, up 8 paise from its previous close. On Thursday, the rupee settled almost flat with a gain of just 2 paise at 86.93 against the US dollar. The unit had closed 16 paise lower on Wednesday, a day after surging 66 paise, witnessing the highest single-day rise in nearly two years. The domestic unit has been facing extreme volatility for the past few months due to several global macroeconomic uncertainties. Finance Minister Nirmala Sitharaman on Thursday said the rupee along with other Asian currencies has depreciate

Rupee's two-day RBI-driven surge peters out despite rally in regional peers

The Reserve Bank of India (RBI) is believed to have intervened heavily on Monday to prevent the rupee from breaching 88 per dollar and then again on Tuesday for further support

Rupee weakens as corporate hedging, NDF maturity boost dollar demand

The dollar index was a tad higher at 108 while Asian currencies were largely rangebound ahead of the release of closely watched US consumer inflation data later in the day

Rupee rises 27 paise to 86.52 against US dollar during early trade

The rupee sustained its recovery from lowest level for the second straight session and appreciated 27 paise to 86.52 against the US dollar on Wednesday supported by easing crude oil prices and measures by the Reserve Bank. However, rupee's gain was capped by the volatile domestic equity markets, outflow of foreign funds and strengthening American currency amid concerns over the worldwide tariff war, forex traders said. At the interbank foreign exchange, the rupee opened at 86.44, touched a high of 86.36 and then traded at 86.52 against the greenback during early deals, 27 paise higher from its previous close. On Tuesday, the rupee appreciated 66 paise, logging the maximum single-day gain since March 3, 2023, to close at 86.79 against the US dollar. The steep surge came a day after the unit plunged to near 88 per US dollar level during intraday on Monday, though the currency staged a dramatic rebound in the second half to end the session with gains at 87.45 against the ...

Rupee appreciates 61 paise to 86.84 against US dollar in early trade

The rupee gained 61 paise to 86.84 against the US dollar in early trade on Tuesday, after nearing closer to 88-level on Monday, amid high volatility as heightened trade war fears have created widespread economic uncertainty, significantly impacting global currency markets. The sharp depreciation in the rupee was driven primarily by the threats of reciprocal tariffs and additional protectionist measures that have strained global supply chains, deepening concerns over prolonged economic disruption, forex traders said. At the interbank foreign exchange, the rupee opened at 87.45 against the greenback, then touched 86.84 against the American currency in morning trade, registering a rise of 61 paise from its previous close. On Monday, the rupee plunged 45 paise and moved closer to the 88 per US dollar level, weighed down by the strength of the American currency tariff concerns, but eventually settled at 87.45, up 5 paise, following RBI intervention. "As USD/INR neared 88, the RBI ...

Rupee hits record low of 87.95 against US dollar in early trade today

The rupee depreciated 45 paise to hit a record low of 87.95 against the US dollar in early trade on Monday weighed down by the strength of the American currency in the overseas market and a negative trend in domestic equities. Forex traders said the dollar index was quoted at 108 gained after President Donald Trump said he was said to impose new 25 per cent tariffs on all steel and aluminium imports. The move has added jitters over the global trade war with China's reciprocal duties coming into effect, they said. At the interbank foreign exchange, the rupee opened at 87.94 and slipped further to all-time low of 87.95 against the greenback in initial deals, a fall of 45 paise from its previous close. On Friday, the rupee recovered 9 paise from all-time low level to close at 87.50 against the US dollar. Rupee was expected to open weaker after RBI cut rates on Friday by 25 bps and was expected to cut another 25 bps in April to promote growth as inflation seemed to be showing a downwa

Rupee sidesteps RBI rate cut to end higher, posts worst week in over 2 yrs

The Reserve Bank of India cut its key interest rate for the first time in nearly five years and signalled a less restrictive policy approach, seeking to provide stimulus to a sluggish economy

RBI allows 156 vostro accounts with 26 banks for rupee trade settlement

The government on Friday said so far the RBI has permitted 123 correspondent banks from 30 trading partner countries to open 156 Special Rupee Vostro Accounts (SRVAs) with 26 banks in India to promote bilateral trade in local currencies. The RBI has also entered into local currency settlement system arrangements with select trade partner countries like the UAE, Indonesia and Maldives for encouraging settlement of cross-border trade in rupee and the local bank of the partner country, Minister of State For Commerce and Industry Jitin Prasada said in a written reply to the Rajya Sabha. "As on date, RBI has permitted 123 Correspondent banks from 30 trading partner countries for opening of total 156 SRVAs with 26 AD (authorised deal) banks in India," he said. The government in consultation with the RBI, has taken several steps towards increasing the availability and acceptability of the domestic currency and use of other local currencies for cross-border transactions. This would enable

Markets Today: RBI MPC outcome; FIIs; M&M, ITC Q3; Chamunda IPO allotment

The Reserve Bank of India may cut the benchmark repo rate by 25 basis points to 6.25 per cent later in the day

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