Page 28 - Rupee

Rupee's slide may continue despite higher rate cut expectations: Survey

The rupee is currently overvalued by 8 per cent compared to its trading peers, according to RBI data on the real effective exchange rate

Rupee hedging costs in Indian assets highest since 2022 on bearish bets

Dollar-rupee three-month offshore forward points, the cost of locking in forward dollar purchases, are hovering near the highest since November 2022 reached last week

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 falls 13 paise to settle at new record low of 85.87 against dollar

The rupee extended its slide for the second straight session and declined 13 paise to hit a fresh record low of 85.87 (provisional) against the US dollar on Wednesday amid higher crude oil prices and stronger American currency. Lacklustre sentiment in domestic equity markets and sustained outflow of foreign funds also played spoilsport even as investors stayed cautious over lower economic growth projection by the government, forex analysts said. At the interbank foreign exchange, the rupee opened at 85.82 and touched the lowest-ever level of 85.89 against the greenback during intra-day. The unit settled at 85.87 (provisional) against the dollar, 13 paise lower than its previous close. On Tuesday, the rupee settled with a loss of 6 paise at 85.74 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.35 per cent higher at 108.76. The 10-year US bond yields also remained elevated at 4.67 per cent amid

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 ..

RBI Guv Malhotra faces calls to unshackle rupee amid surging dollar

Sanjay Malhotra, the new governor, hasn't spelled out his policy stance on the rupee. Yet, there are signs he may allow the currency to fluctuate more naturally

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

Rupee falls 4 paise to close at new record low of 85.83 against dollar

The rupee declined 4 paise to settle at a fresh record low of 85.83 (provisional) against the US dollar on Monday, amid a steep fall in domestic equity markets and unabated outflow of foreign capital. Forex traders said the surging US bond yields and concern over HMPV virus outbreak triggered a US dollar chase due to its safe-haven appeal. At the interbank foreign exchange, the rupee opened at 85.77 and touched the lowest-ever level of 85.84 against the greenback in intraday trade. The unit finally settled at its record low closing level of 85.83 (provisional), registering a fall of 4 paise from its previous close. On Friday, the rupee depreciated 4 paise to close at 85.79 against the dollar. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said the rupee touched a fresh record low amid weak tone in the domestic markets and persistent FII outflows, while rising US bond yields and worries over HMPV virus scare also weighed on the rupee. "However, a soft US dollar and any

Rupee to stay under pressure as traders eye RBI's defence of 85.80

The 1-month non-deliverable forward indicated that the rupee will open flat-to-slightly-lower from its closing level of 85.77

Best of BS Opinion: Risks and Outcomes in an Uncertain Future

Here's a quick capsule of the best of Business Standard's opinion pages today for your quick reading.

Weakening rupee may not be shot in the arm for India's pharma exporters

The rupee has been hovering above Rs 85 mark vis-a-vis the US dollar in the recent past

Rupee falls 3 paise to 85.78 against US dollar during early trade

The rupee depreciated 3 paise to 85.78 against the US dollar in early trade on Friday, weighed down by the strength of the American currency in the overseas market and a muted trend in domestic equities. Forex traders said the US dollar gained against most currencies during 2024 and continued to remain on a strong footing this year. Moreover, the market will keep its focus on Donald Trump's policies which could boost growth but could also increase price pressures and this would keep the US FED on a hold for longer on interest rate cuts. At the interbank foreign exchange, the rupee opened at 85.77 then fell further to 85.78 against the American currency, registering a decline of 3 paise over its previous close. On Thursday, the rupee depreciated 11 paise to close at a record low of 85.75 against the US dollar. On December 27, the local currency touched its lifetime intraday low of 85.80 against the greenback. "The Indian rupee opened weaker after a record closing on Thursday, as d

Rupee may dip to all-time low on Fed outlook-spurred dollar rally

The dollar index rose 0.7 per cent on Thursday, hitting 109.54, helped by the US jobless claims data

Banks urge RBI to inject liquidity via foreign-exchange swaps amid crunch

The higher financing costs are posing a challenge for the RBI to support an economy that's witnessing a slowdown in manufacturing activities

Rupee falls 11 paise to 85.75 against US dollar during early trade

The rupee dropped 11 paise to 85.75 against the US dollar in early trade on Thursday, weighed down by the significant uptrend in the dollar index and US 10-year bond yields. Forex traders said the dollar gained against most currencies during the year 2024 and continued to remain on a strong footing this year. Moreover, persistent foreign fund outflows further dented investors' sentiments. Additionally, global markets are expected to see low volumes as the holiday season is underway in major economies like the UK and Europe. At the interbank foreign exchange, the rupee opened at 85.69 then fell further to 85.75 against the American currency, registering a fall of 11 paise over its previous close. On Wednesday, the rupee settled flat at 85.64 against the US dollar. On December 27, the local currency touched its lifetime intraday low of 85.80 against the greenback. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 108.32,

Rupee falls 5 paise to 85.69 against US dollar during early trade

The rupee dropped 5 paise to 85.69 against the US dollar in early trade on Wednesday, the first session of 2025, as the strength of the American currency in the overseas market and persistent foreign fund outflows weighed on the local unit. Forex traders said the dollar index (DXY) and US 10-year bond yields have been on an uptrend largely owing to the Federal Reserve's cautious stance and the "Trump factor". Additionally, global markets are expected to see low volumes as the holiday season is underway in major economies like the UK and Europe. At the interbank foreign exchange, the rupee opened at 85.63 then fell further to 85.69 against the American currency, registering a fall of 5 paise over its previous close, On Tuesday, the rupee depreciated 12 paise to close at a fresh all-time closing low of 85.64 against the US dollar. On December 27, the local currency touched its lifetime intraday low of 85.80 against the greenback. According to Anil Kumar Bhansali, Head of Treasury a

Rupee tipped to weaken gradually amid dollar strength as 2025 kicks off

The local unit dipped to its sixth consecutive record closing low on Tuesday, pressured by a decline in its regional peers

On slippery slope: Rupee hits fresh low, extends losing streak to 7 years

Despite the decline, India's foreign exchange reserves remain the fourth largest in the world