Page 11 - Rupee

Best of BS Opinion: Threat from Claude calls for stronger governance of AI

From AI-driven cybersecurity risks and JNU's quota policy to India's macroeconomic challenges and the rupee debate, here is a concise roundup of Business Standard's key opinion pieces of the day

Let the rupee move freely: RBI intervention risks more harm than good

Attempts by the central bank to hold back the rupee risk doing more harm than good

RBI partially withdraws restrictions on certain rupee derivative trades

The central bank had also stopped authorised dealers from entering into any FX derivative contract involving INR with their related parties

Rupee rises 13 paise to 92.78 against US dollar during early trade

The rupee appreciated 13 paise to 92.78 against the US dollar in early trade on Monday, following a sharp drop in crude oil prices amid hopes of easing geopolitical tension and the impact of the Reserve Bank's measures. Forex traders, however, said the currency is likely to stay range-bound with the situation in West Asia remaining volatile after Iran closed the Strait of Hormuz for shipping. At the interbank foreign exchange market, the rupee opened at 92.73 and moved up to 92.70 level before trading at 92.78 against the greenback in early deals, up 13 paise from the previous closing level. The rupee strengthened 28 paise to settle at 92.91 against the US dollar on Friday, a day after gaining 19 paise in the preceding session on Thursday. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.22 per cent at 98.11. Brent crude, the global oil benchmark, was trading 5.34 per cent down at USD 95.21 per barrel in futures ...

Rupee rises 28 paise to 92.86 against US dollar during early trade

The rupee jumped 28 paise to 92.86 against the US dollar in early trade on Friday amid hopes of easing geopolitical tensions and positive sentiment in domestic equity markets. Buying of Indian equities by foreign investors also supported the local currency even though it stayed under pressure due to a firm dollar, forex traders said. At the interbank foreign exchange market, the rupee opened at 92.93 and gained further to trade at 92.86 against the greenback in early deals, up 28 paise from the previous closing level. On Thursday, the rupee strengthened 19 paise to settle at 93.14 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.05 per cent at 98.07. Brent crude, the global oil benchmark, was trading 1.16 per cent down at USD 98.24 per barrel in futures trade. Analysts said that crude oil prices fell below USD 100/barrel amid expectations that the crisis in West Asia would soon come to an end.

Rupee set to open higher on RBI's reported plan to curb dollar demand

The rupee will rise to 92.94-92.98 versus the US ‌dollar, traders said, having settled at 93.1950 on Thursday

Currency policy is costing India: Managing rupee harder in open economy

India is no longer the closed, simple economy of the 1970s. When the RBI attempts to fix the price of the rupee, it must contend with the incentives of millions of rational actors

Rupee ends higher on Iran-US ceasefire hopes, FPI inflows support sentiment

Rupee rises after four sessions of losses, supported by ceasefire hopes, lower crude prices and FPI inflows, though elevated oil levels cap sharp appreciation

Rupee rises 6 paise to 93.27 against US dollar during early trade

The rupee appreciated by 6 paise to 93.27 against the US dollar in early trade on Thursday, driven by retreating crude oil prices and a weakening American currency, amid hopes of a truce in West Asia. According to forex analysts, crude oil prices hovering below the USD 95-a-barrel level sent positive cues to investors in domestic equities, even though the outflow of foreign capital and demands for dollars from importers resisted a sharp recovery in the rupee. At the interbank foreign exchange market, the rupee opened at 93.29 and gained further, trading at 93.27 against the greenback in early deals, up 6 paise from its previous closing level. On Wednesday, the rupee gained 2 paise to settle at 93.33 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was lower by 0.12 per cent at 97.72. Brent crude, the global oil benchmark, was trading marginally up by 0.02 per cent at USD 94.95 per barrel in futures trade.

Datanomics: Rupee weakens, Indian economy slips to sixth-largest

India's GDP in domestic currency terms records a CAGR of 8.56 per cent between 2021 and 2025, reflecting highest economic growth among major economies

Foreign investors grow more wary of India as forex curbs hit bonds

Liquidity in the NDF market, a key channel through which foreign investors manage rupee exposure, has thinned, making hedging both more expensive and harder to execute

RBI's rupee defence may backfire: Measures may hurt confidence, inflows

When the war broke out in late February 2026, the RBI, backed by foreign exchange reserves of nearly $730 billion, intervened aggressively

RBI scrutinises methods banks use for unwinding rupee arbitrage trades

Following the central bank's measures, the rupee has recovered from near 95.20 per US dollar to near 92.50, before paring its rally on Monday

Rupee falls 49 paise to 93.32 against dollar in early trade amid Iran war

The rupee depreciated 49 paise to 93.32 against the US dollar in early trade on Monday, weighed down by higher crude oil prices and a firm American currency amid a volatile geopolitical situation. Renewed tension in West Asia and uncertainties on the opening of the Strait of Hormuz following inconclusive Iran-US peace talks triggered a surge in crude oil prices, while investors rushed to withdraw funds from domestic equities, putting further pressure on the Indian currency, forex traders said. At the interbank foreign exchange market, the rupee opened at 93.30 against the US dollar and lost further ground, trading at 93.32 against the greenback in early deals, down 49 paise from its previous closing level. On Friday, the rupee settled 32 paise lower at 92.83 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was higher by 0.38 per cent at 98.81. Brent crude, the global oil benchmark, was trading higher by 7

TCS, Infosys: Nifty IT falls 3% in rising market: Key reasons explained

Coforge, Infosys, Mphasis and Tata Consultancy Services (TCS) slipped over 3 per cent

RBI to push for reporting of offshore rupee trades despite resistance

The RBI wants lenders to start sharing data on at least 70% of such derivative transactions, starting February 2027

Biggest currency clampdown in a decade risks backfiring for India

Jefferies estimates banks could face losses of up to ₹5,000 crore ($539 million) from the forced unwinding

Rupee rises to 92.41 against dollar, faces risks from West Asia tensions

The rupee appreciated 10 paise to 92.41 against the US dollar in early trade on Friday, even as the USD/INR pair faces risks from rising global tensions, especially the US-Iran conflict. Forex traders said the rupee is likely to see high volatility intra-day as the deadline for RBI's instructions to banks to curb their overnight positions to USD 100 million closes today. At the interbank foreign exchange market, the rupee opened at 92.58 against the US dollar, then gained ground to touch 92.41 against the US dollar in initial trade, registering a gain of 10 paise over its previous close. On Thursday, the rupee settled with a marginal gain of 3 paise at 92.51 against the US dollar. "An estimated 8085 per cent of these positions have already been unwound, which means the bulk of this supportive flow is now behind us. In simple terms, the cushion that held the rupee steady is beginning to thin, and this is where the story starts to shift," CR Forex Advisors MD Amit Pabari said. Pabar

Banks exit bulk of rupee arbitrage positions ahead of RBI deadline

RBI imposed limits on banks on ‌March 27, directing them to cap their net open positions in the rupee in the onshore market at $100 million, requiring that they comply by April 10

Iran shock shows India's external vulnerability, tests growth ambitions

The truly unsettling element in the scenario has been the fall in the exchange rate of the rupee. The fall predates the Iran conflict