Page 24 - Rupee

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 performed well due to strong forex reserves, says Piyush Goyal

Union Commerce Minister Piyush Goyal on Thursday said the Indian rupee has performed well compared to other global currencies due to the country's strong foreign currency reserves. He also said that a skill development centre and a startup incubation centre will come up at AURIC (the industrial node of Shendra and Bidkin) in the near term. Goyal held a meeting with representatives of the industrial association at the AURIC hall on Wednesday to discuss issues related to industrial zones. He addressed the press on Thursday regarding the issues raised in the meeting. While talking about the downfall of the Indian rupee, he said, "The Indian rupee has strengthened in comparison to the emerging economies of the country. After US elections almost all the currencies across the globe have come down. But India had good reserves of foreign exchange so the Indian rupee performed better than that of other currencies". Goyal said, "We had a conversation with the industrial representatives on

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 falls 16 paise to close at 86.87 against dollar on FII outflows

The rupee depreciated 16 paise to close at 86.87 (provisional) against the US dollar on Monday, weighed down by significant foreign fund outflows and a recovery in the US dollar index from intraday lows. Forex traders said the Indian rupee is trading with a negative bias as foreign banks went on a dollar-buying spree and importers scrambled to secure dollars, as they feared further depreciation amid global uncertainty. At the interbank foreign exchange, the rupee opened at 86.70 and touched the high of 86.68 against the greenback during intraday. It also touched the low of 86.88 before ending the session at 86.87 (provisional) against the dollar, logging a loss of 16 paise from its previous close. On Friday, the rupee extended its recovery and settled 21 paise higher at 86.71 against the US dollar. "Indian rupee declined today on a weak tone in the domestic markets and a recovery in the US dollar index from intraday lows. However, weak tone in crude oil prices and a decline in US .

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

Govt, RBI keeping vigil on rupee fluctuation: FM Sitharaman in Rajya Sabha

The FM said that the value of the Indian rupee is influenced by various factors such as the index of the dollar, trends in capital flows, interest rates, and crude price movements

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 set for losses as RBI focuses on monetary easing, rising volatility

The rupee's recent gyrations mark a departure from its stability in the past two years, and the moves are testing new central bank chief Sanjay Malhotra's tolerance in dealing with swings

Rupee gives up early gains, drops 6 paise to close at 86.89 against dollar

Bids in VRR auction fall short of notified amount of Rs 2.5 trillion

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

US tariffs' scare push rupee to record low, RBI steps in to cap losses

Trump said he will introduce new 25 per cent tariffs on steel and aluminium imports into the US

Rupee recovers 16 paise from all-time low level to 87.43 against dollar

The rupee recovered 16 paise from all-time low closing level to 87.43 against the US dollar in early trade on Friday, ahead of the Reserve Bank of India's monetary policy announcement. Forex traders said there is an overall negative bias in the rupee as market participants are projecting RBI to cut rates by 25 bps. While a rate cut could help ease some of the pressure by improving liquidity and attracting foreign investments, it would also lead to an increase in rupee supply, which could further weaken the currency and exacerbate depreciation pressures, they said. At the interbank foreign exchange, the rupee opened at 87.57 against the greenback, and touched 87.43 against the greenback in initial trade, registering a rise of 16 paise from its previous close. On Thursday, the rupee plunged 16 paise to close at an all-time low of 87.59 against the US dollar. "As long as the liquidity deficit persists, the rupee will remain under pressure. Additionally, the CRR cut is further weighin

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

Hedging, cost cut: India Inc takes cover as rupee plunges against dollar

Firms securing forex, cross-currency cover

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 ...