Page 4 - Rupee

Best of BS Opinion: India must avoid digital tariffs despite WTO rule lapse

From India's digital trade strategy and autonomous AI risks to youth employment, the rupee's stability and the evolution of the Chinese Communist Party, here are today's top Opinion pieces.

Rupee rises for third session on softer crude, firmer dollar caps gains

The rupee gained on lower crude oil prices and RBI-linked dollar sales, but a stronger dollar ahead of the US Federal Reserve's policy decision limited the upside

Rupee rises 11 paise to settle at 95.88 against US dollar amid oil dip

The rupee stayed on upward track for the third straight session and ended 11 paise higher at 95.88 (provisional) against the US dollar on Tuesday, supported by lower crude oil prices amid signals of easing West Asia crisis. According to forex traders, the sustained outflow of foreign capital amid selling pressure in domestic equity markets, as well as an elevated dollar index ahead of the US Federal Reserve's policy decision, capped gains for the local currency. At the interbank foreign exchange, the rupee opened at 95.75 and touched the intraday high of 95.63 before ending the session at 95.88 (provisional) against the greenback, up 11 paise from its previous closing level. On Monday, the rupee appreciated sharply by 54 paise to close at 95.99 against the US dollar, after rising 20 paise in the preceding session on Friday. Anuj Choudhary, Research Analyst, Mirae Asset ShareKhan, said the rupee strengthened on the halting of strikes between the US and Iran. "Traders may take cues

Rupee rises to near two-week high of ₹95.70/$ as RBI support bolsters rally

The rupee extended its upward momentum, rising 35 paise to 95.64 against the US dollar in early trade on Tuesday, driven by lower crude oil prices amid easing geopolitical tensions. Forex traders said a weak US dollar index and positive equity market sentiment further boosted the Indian currency. At the interbank foreign exchange, the rupee opened at 95.75 and gained further to trade at 95.64 against the greenback, up 35 paise from its previous closing level. The rupee appreciated sharply by 54 paise to close at 95.99 against the US dollar on Monday, after rising 20 paise in the preceding session on Friday. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading down 0.06 per cent at 101.31. Brent crude, the global oil benchmark, was trading 1.43 per cent lower at USD 87.10 per barrel in futures trade. Analysts said oil prices eased as the US and Iran refrained from attacking each other's targets for the third consecutive

Rupee posts biggest gain in six weeks as oil slump, inflows lift sentiment

Domestic currency outperformed Asian peers as falling crude oil prices, sustained foreign inflows and RBI intervention boosted sentiment and eased pressure

RBI intervention lifts rupee to strongest one-day gain in over a month

The Reserve Bank of India's intervention on Monday was fairly large, with the central bank beginning to sell dollars when the rupee traded near 96.15 per dollar

Rupee rises 28 paise to 96.25 against US dollar during early trade

The rupee gained 28 paise to 96.25 against the US dollar in early trade on Monday, taking cues from a sharp fall in crude oil prices and positive global sentiment after the US and Iran signalled an easing of tensions in West Asia. The American currency index also retreated from an elevated level, while domestic equities witnessed a strong buying trend, supporting the local currency further, forex traders said. At the interbank foreign exchange, the rupee opened at 96.18 but lost some ground to trade at 96.28 against the greenback, logging a gain of 28 paise from its previous closing level. On Friday, the rupee recovered from a low level and settled 20 paise higher at 96.53 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading down 0.26 per cent at 101.04. Brent crude, the global oil benchmark, was trading 4.17 per cent lower at USD 92.74 per barrel in futures trade. Analysts attributed the recover

Rupee rises 22 paise to 96.51 against US dollar during early trade

The rupee rose 22 paise to 96.51 against the US dollar in early trade on Friday on likely RBI intervention to stem its further slide after global crude oil prices crossed the USD 100-mark owing to heightened tensions in West Asia. A softer greenback provided mild support to the local unit while FII outflows, coupled with sustained slide in the domestic equity markets, maintained pressure, forex traders said. At the interbank foreign exchange, the rupee opened weaker at 96.81 before rising to 96.51, up 22 paise from its previous close. The rupee ended 20 paise weaker at 96.73 against the US dollar on Thursday. The US military announced 13th night of strikes on Thursday against Iran as clashes escalate over shipping routes. The attacks came after Yemen's Houthi said they attacked two Saudi oil tankers in the Red Sea, potentially widening the Iran war as international oil topped USD 100 a barrel. "The key factors for the weak opening of the rupee were -- Brent crude oil remained ...

Rupee rises 5 paise to 96.48 against US dollar on likely RBI intervention

The rupee rose 5 paise to 96.48 against the US dollar in early trade on Thursday on possible intervention by the Reserve Bank even as heightened tensions in West Asia maintained pressure on global crude oil prices. FII outflows and sustained negative sentiments in the domestic equity markets added pressure on the local unit, while a weaker greenback provided some respite, forex traders said. At the interbank foreign exchange, the rupee opened at 96.53 before inching up to 96.48, up 5 paise from its previous close. The rupee depreciated by 28 paise to close at 96.53 against the US dollar on Wednesday. "State-owned banks were seen selling dollars -- widely viewed as intervention on behalf of the RBI -- around the 96.50 level, preventing a steeper depreciation but the closure remained lower for the rupee on Wednesday. Rupee remains near its all-time closing low and if oil prices keep rising we may see it crossing this level, too," Anil Kumar Bhansali, Head of Treasury and Executive ..

Rupee dips to 96.57/$, a 2-month low as crude oil surge weighs on sentiment

Escalating tensions in West Asia lifted crude oil prices to a six-week high, while likely RBI intervention through state-owned banks capped losses in the rupee

Rupee falls 11 paise to 96.36 against US dollar during early trade

The rupee depreciated 11 paise to 96.36 against the US dollar in early trade on Wednesday as crude oil prices climbed on renewed geopolitical tensions, and demand for the US dollar increased as investors moved toward safe-haven assets. Forex traders said concerns over the security of oil shipments through the Red Sea and Strait of Hormuz continue to support crude oil prices. Moreover, Houthi threats against shipping and ongoing US-Iran hostilities have kept a geopolitical risk premium in the market, they said. At the interbank foreign exchange market the rupee opened at 96.36, registering a fall of 11 paise from its previous close. On Tuesday, the rupee had settled at 96.25 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 101.15 down 0.01 per cent, as the latest escalation in the US-Iran conflict has increased demand for the US dollar as a safe-haven currency. Brent crude, the glob

Best of BS Opinion: India's foreign exchange strategy needs stable capital

From forex inflows and examination reform to FPI policy, rupee depreciation and behavioural science, today's Best of BS Opinion examines India's key policy choices

Value of rupee market-determined with no specific level or band: Sitharaman

Finance Minister Nirmala Sitharaman on Tuesday said the rupee's value against the US dollar is market-determined and there is no target or specific band for the domestic currency. "The government closely tracks the trends in key economic parameters, including exchange rate movements, along with their implications for economic growth and fiscal stability. These issues are discussed at various fora at various levels of the government," she said in a written reply in the Rajya Sabha. On Tuesday, the rupee pared initial losses and settled 12 paise higher at 96.24 (provisional). Traders attribute the recovery to RBI's intervention. Sitharaman said the value of the rupee is market-determined, with no target or specific level or band, and RBI regularly monitors the foreign exchange market and intervenes in situations of excess volatility. Further, the RBI monitors key developments across the globe which may have an impact on the USD-INR exchange rate, she said. Various measures have been

Rupee falls 6 paise to 96.42 against US dollar during early trade

The rupee depreciated 6 paise to 96.42 against the US dollar in early trade on Tuesday as heightened geopolitical uncertainty put pressure on most Asian currencies, including the rupee. Forex traders said the rupee came under pressure from a combination of factors -- crude oil prices climbed on renewed geopolitical tensions, and demand for the US dollar increased as investors moved toward safe-haven assets. At the interbank foreign exchange market, the rupee opened at 96.41 then touched 96.42 registering a fall of 6 paise from its previous close. On Monday, the rupee had settled at 96.36 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 100.97 up 0.03 per cent. Brent crude, the global oil benchmark, was trading lower by 0.65 per cent at USD 88.64 per barrel in futures trade. As dollar index again rose to 100.97 while oil prices were well bid at USD 88.64 per barrel, traders weighe

Rupee weakens to 2-month intraday low on crude rally; RBI likely intervenes

The rupee slipped to a two-month intraday low as higher crude oil prices and West Asia tensions weighed on sentiment, with likely RBI intervention helping limit losses

RBI intervenes to support rupee as it nears record low on oil price surge

The Reserve Bank of India sold dollars in both offshore and onshore markets, traders familiar with the matter said

Rupee falls 12 paise to 96.42 against US dollar during early trade

The rupee weakened 12 paise to 96.42 against the US dollar in early trade on Monday due to a surge in crude oil prices and strong demand for the American currency amid the worsening West Asia crisis. Foreign capital outflows from domestic equity markets also weighed on the Indian currency, forex traders said. At the interbank foreign exchange, the rupee opened lower at 96.53 against the previous close of 96.30 to dollar. The local unit pared some losses to trade at 96.42 later, down 12 paise from its previous close. On Friday, the rupee gained 12 paise to settle at 96.30 against the US dollar, supported by positive domestic market sentiment and a decline in US Treasury yields. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally down by 0.05 per cent at 100.54. Brent crude, the global oil benchmark, was trading 2.45 per cent higher at USD 90.26 per barrel in futures trade, as the US and Iran have inched close

India FX traders eye oil prices, RBI defence; bonds bulls await index call

The rupee closed at 96.28 per dollar on Friday, down ​about 1% on the week, its steepest drop since May, the month in which the currency hit its all time-low of ‌96.96

RBI issues consolidated norms for Special Rupee Vostro Accounts and trade

The central bank has merged instructions issued since 2022 into a single circular, retaining the framework for rupee-denominated settlement of cross-border trade transactions

Rupee rises 14 paise to 96.28 against US dollar during early trade

The rupee gained 14 paise to 96.28 against the US dollar in early trade on Friday buoyed by positive sentiments at the domestic equity markets. However, heavy FII outflows and higher global crude oil prices amid heightened tensions in West Asia prevented further gains in the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 96.35 against the greenback before rising further to 96.28, up 14 paise from its previous close. The rupee depreciated for the fourth straight day on Thursday, shedding 17 paise to settle at 96.42 against the US dollar. The US expanded its airstrike campaign against Iran early on Friday by increasingly hitting bridges, part of President Donald Trump's threats to start striking infrastructure to pressure Tehran to ease its chokehold on the Strait of Hormuz. Iran launched new missile attacks against US-allied nations in West Asia and warned that its attacks would escalate. "Continued geopolitical uncertainties in West Asia ...