Page 26 - Rupee Vs Dollar

A day after rebound, Rupee falls 16 paise to settle at 86.56 against dollar

The rupee depreciated 16 paise to close at 86.56 (provisional) against the US dollar on Thursday, dragged down by a strong American currency overseas, elevated crude oil prices and foreign fund outflows. However, positive domestic equity markets provided some cushion at the lower level, forex traders said. At the interbank foreign exchange, the rupee opened at 86.42 and touched the intraday high of 86.37 before ending the session at 86.56 (provisional) against the greenback, 16 paise lower from the previous close. The local unit settled with a gain of 13 paise at 86.40 against the dollar on Wednesday, a day after rebounding 17 paise from its lowest-ever level. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said the rupee declined due to increased demand for dollars by importers. "Importers may continue to buy dollars, which may further pressurise the rupee. Traders may take cues from retail sales and weekly unemployment claims data from the US. USD-INR spot price is ..

RBI must shun excessive forex market intervention, says former head

Rupee tested a series of new lows recently, slipping to an all-time low of 86.7025 per dollar on Jan 14, and rose 0.3 per cent on January 15

After 5-day streak of lows, rupee posts best day in 7 mths against dollar

A narrowing trade deficit in December, down to $21.94 billion down from a record $31.86 billion in November, further bolstered market sentiment

India Inc's foreign borrowings decline 20.2% in 2024 as rupee slips

The decline last calendar year followed a major uptick in 2023 when foreign loans had more than doubled from $14.38 billion in 2022 - the sharpest spike in over a decade

Budget may levy higher import duties to stem rupee slide: EY's Srivastava

The government, in the forthcoming Budget, could consider levying higher tariffs on imports to check the significant decline in rupee value witnessed in the past few months, said EY Chief Policy Advisor DK Srivastava. The noted economist argued that higher import duties would curb the demand for dollars from importers and help arrest the sliding value of the rupee, which touched a historic low of 86.70 to a dollar on January 13. In an interview with PTI, Srivastava said the sudden downward movement of the rupee against the US dollar is going to be a challenge for policymakers -- for Budget makers on the fiscal side and the RBI on the monetary side. The expectation is that the US economy is going to recover, and therefore, a lot of financial resources are moving to the world's largest economy. Srivastava, who is a Member of the Advisory Council to the 15th Finance Commission, also said it is not just the rupee but other European currencies are also experiencing similar pressure. "In

Rupee falls 2 paise to 86.55 against US dollar in early trade today

The rupee pared its initial marginal gain and slipped 2 paise to 86.55 against the US dollar in early trade on Wednesday as the positive sentiment in the domestic equity markets was negated by elevated crude oil prices and massive withdrawal of foreign funds. A retreating American currency, however, supported the Indian currency at lower level, forex traders said. At the interbank foreign exchange, the rupee opened at 86.50 and touched 86.45 against the greenback in initial deals. However, the local unit soon pared the gains and traded at 86.55 against the dollar, 2 paise lower from its previous close. On Tuesday, the rupee rebounded from its lowest-ever level and settled with a gain of 17 paise at 86.53 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03 per cent lower at 109.07. Brent crude, the global oil benchmark, rose 0.06 per cent to USD 79.96 per barrel in futures trade. In the domesti

Impact of Trump's presidency to be short-lived on Indian rupee: SBI

Historical analysis of US presidencies, dating back to the Nixon era, reveals that the rupee tends to perform more stably during Republican administrations compared to Democratic ones

Rupee hits new low of 86.68 per dollar as oil importers boost demand

RBI's intervention policy unlikely to have changed

RBI Governor Malhotra shows willingness for a more flexible rupee

Malhotra showed keen interest in the RBI's currency intervention functions and expressed no opposition when his team explained the recent movements in the rupee and the need to allow it to depreciate

Rupee recovers from record low to settle 8 paise higher at 86.62/$

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.39 per cent lower at 109.38

Rupee logs steepest fall in two years, hits record low of 86.58/$

The rupee weakened to 86 per dollar from 85 in just 16 trading sessions. In contrast, its movement from 84 to 85 took 46 working days, while the shift from 83 to 84 happened in 478 days

Rupee among the world's most stable currencies: BJP counters Cong's claims

The BJP on Monday said the rupee is among the "most stable" currencies in the world and slammed the Congress for painting a "grim picture" of the fall in its value against the US dollar. India's improved external position, reduced current-account deficit and strong foreign exchange reserves have made the rupee one of the most stable currencies globally, BJP's IT cell head Amit Malviya said in a post on X. Over the last year, the rupee depreciated by a modest 3.68 per cent, outperforming major currencies like the Japanese Yen and Korean Won, which fell by 9 per cent to 12 per cent during the same period, even as the US Dollar Index surged by 9.8 per cent, Malviya said. "So, the next time someone paints a grim picture of the Indian rupee, remind them of its disastrous performance under the UPA and the remarkable turnaround under the Modi government," he added. The reaction of the Bharatiya Janata Party (BJP) leader came after the Congress took a swipe at Prime Minister Narendra Modi

Rupee down 27 paise at record low of 86.31 against US dollar in early trade

The rupee's slide show went on for the second straight session on Monday as it crashed 27 paise to hit a new lifetime low of 86.31 against the US dollar, dragged down by a robust American currency amid volatile global cues. A record surge in crude oil prices, sustained outflow of foreign capital, and a negative trend in domestic equity markets also kept the Indian currency under pressure, forex traders said. The dollar, they said, strengthened on better-than-expected job growth in the US market, which also fuelled the benchmark treasury yields amid expectations of slower interest rate cut by the Federal Reserve. At the interbank foreign exchange, the rupee opened at 86.12 and fell to the historic low level of 86.31 against the greenback in initial deals, registering a steep loss of 27 paise from its previous close. On Friday, the rupee declined 18 paise to settle at 86.04 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of

Rupee hits new low of 85.97/$; forex reserves drop further to $634 billion

The local currency edged higher by 3 paise on Friday against the previous low of 85.94 recorded on Thursday

Rupee hits 86 against US dollar for the first time, closes 14 paise lower

The rupee declined 14 paise and touched the crucial 86.00-mark (provisional) for the first time against the US dollar on Friday as it failed to resist pressure from a stronger American currency and huge outflow of foreign funds. Surging crude oil prices overseas and negative sentiment in domestic equity markets also weighed down the Indian currency, forex traders said. Also, dollar strengthened on increased demand amid the anticipation of restrictive trade measures by the new US administration after Donald Trump takes over as president on January 20. At the interbank foreign exchange, the rupee opened at 85.88, hit the intra-day peak of 85.85 before settling at the lowest-ever level of 86.00 (provisional) against the greenback, 14 paise lower from its previous close. On Thursday, the rupee gained 5 paise to settle at 85.86 against the US dollar, recovering from the steep decline of 17 paise in the preceding session. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said t

Softening base metal prices cushion rupee fall for consumer durables makers

In the last three months, the rupee has depreciated 2.2 per cent against the dollar, which typically hurts consumer durable companies.

Rupee depreciates 9 paise to hit record low of 85.83 against US dollar

The rupee depreciated 9 paise to hit its record low of 85.83 against the US dollar in early trade on Wednesday as strengthening American currency and higher crude oil prices continued to play spoilsports even as the government lowered the country's economic growth projection. According to analysts, subdued domestic equity markets also weighed on the Indian currency even as better growth prospect in the US economy fuelled the expectations of delayed interest rate cut by the Federal Reserve, leading to a record rise in the US Treasury yields as well as dollar demand. The latest government data released on Tuesday showed India's economic growth rate is estimated to slip to a four-year low of 6.4 per cent in 2024-25 due to poor show by the manufacturing and services sectors. The Gross Domestic Product (GDP) growth at 6.4 per cent will be the lowest since the Covid year (2020-21) when the country witnessed a negative growth of 5.8 per cent. It was 8.2 per cent in the last fiscal ended ..

Rupee settles 5 paise lower at 85.73 against dollar on higher crude price

The rupee fell 5 paise to settle at 85.73 (provisional) against the US dollar on Tuesday, as higher crude oil prices and outflow of foreign funds continued to weigh on the local unit. Forex traders said the rupee pared some of its intraday losses as the American currency retreated from its elevated levels. Moreover, the recovery in the domestic equity market also aided sentiments. At the interbank foreign exchange, the rupee opened at 85.77, touched the day's peak of 85.65 and hit an intraday low of 85.80 against the greenback. The unit settled at 85.73 (provisional) against the dollar, registering a fall of 5 paise from its previous close. On Monday, the rupee settled 11 paise higher at 85.68 against the dollar. During intraday, the unit had hit the lowest-ever level of 85.84 against the American currency. "We expect the rupee to trade with a negative bias on FII outflows and underlying strength in the US dollar amid expectations of no rate cut by Fed in January. However, any ...

Rupee depreciates 7 paise to 85.75 against US dollar in early trade

The rupee depreciated 7 paise to 85.75 against the US dollar in early trade on Tuesday, dragged down by a strong American currency and sustained outflow of foreign funds. The Indian currency, however, capped the fall on the back of some recovery in domestic equity markets and receding crude oil prices overseas, forex traders said. At the interbank foreign exchange, the rupee opened at 85.77, slipped to 85.80 before trading again at 85.75 against the greenback in initial deals, 7 paise lower from its previous close. On Monday, the rupee settled 11 paise higher at 85.68 against the dollar. During intraday, the unit had touched the lowest level of 85.84 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.09 per cent lower at 108.09. Brent crude, the global oil benchmark, declined 0.05 per cent to USD 76.26 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex

Rupee falls to new low of 85.83 as dollar hovers near two-year high

The local currency settled at Rs 85.78 per dollar on Friday