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Indian rupee rises the most in a month on broad dollar weakness

Economic Times

Economic Times · 2d ago

Indian rupee rises the most in a month on broad dollar weakness

The Indian rupee experienced its largest gain in over a month, rising by 0.31% due to softer U.S. inflation data suggesting a potential Federal Reserve rate cut. This development weakened the dollar and boosted emerging market currencies like the rupee. Market optimism increased as hopes for a Fed rate cut in September grew to 94%. The dollar index fell by 0.4%, affecting market sentiment with the upcoming Trump-Putin summit being a key risk event for the rupee.

Related News

Rupee sees worst month since March as dollar rises

VCCircle

VCCircle · 8m ago

Rupee sees worst month since March as dollar rises

The Indian rupee had its worst month in eight as the US dollar and bond yields increased following Donald Trump's election win. Despite closing at 84.4825 against the dollar on Friday, which is slightly up from last week's lifetime low of 84.5075, the rupee fell by almost 0.5% in November. The dollar has been performing well and US yields have increased following Trump's win, which has hurt emerging market assets. Despite this, the rupee has performed relatively well compared to its regional counterparts, due to frequent interventions by the Reserve Bank of India.

Rupee hits over two-month low, hurt by geopolitical worries, Trump tariff remark

Economic Times

Economic Times · 1m ago

Rupee hits over two-month low, hurt by geopolitical worries, Trump tariff remark

The Indian rupee reached a two-month low, falling to 86.24 against the US dollar, due to escalating geopolitical tensions in the Middle East and U.S. President Donald Trump's announcement of impending pharmaceutical tariffs. This decline comes as Indian pharmaceutical companies, significantly reliant on U.S. revenue, face potential impacts. Additionally, a trader mentioned that ongoing dollar demand from state-run banks contributed to the rupee's weakness. Market focus remains on Federal Reserve decisions and Middle East developments.

Rupee ends a tad lower, month-end importer dollar bids weigh

Economic Times

Economic Times · 1m ago

Rupee ends a tad lower, month-end importer dollar bids weigh

The Indian rupee closed slightly weaker at 86.0775 against the U.S. dollar, down 0.1% from the previous session, due to month-end importer dollar demand and slight weakness in the offshore Chinese yuan. Despite pressure, local equities gained, buoyed by a ceasefire between Iran and Israel which improved risk sentiment. The dollar index increased by 0.1%, while Brent crude oil futures rose about 1% to $67.8 per barrel.

Rupee ends month and quarter a tad lower, trails most Asian peers

Economic Times

Economic Times · 1m ago

Rupee ends month and quarter a tad lower, trails most Asian peers

The Indian rupee ended the month and quarter slightly lower against the U.S. dollar, underperforming most Asian peers due to muted portfolio inflows and an external investment deficit. The rupee closed at 85.7550 against the dollar, with losses of 0.2% and 0.3% for the month and quarter. While Asian currencies like the Taiwanese dollar and Korean won rose, India’s external investment deficit remained a key factor in the rupee's underperformance.

Rupee logs 9th straight week of losses, analysts expect more weakness

VCCircle

VCCircle · 7m ago

Rupee logs 9th straight week of losses, analysts expect more weakness

The Indian rupee ended at a record low, marking its ninth consecutive week of decline, driven by the rising U.S. dollar and a weakening Chinese yuan. The rupee closed at 85.77 to the dollar, down 0.2% for the week. The Reserve Bank of India's interventions have prevented further decline. The ongoing pressure is due to global dollar strength, fewer expected Federal Reserve rate cuts, and better U.S. economic performance. Analysts predict further rupee weakness.

Rupee weakens slightly, broad dollar softness cushions pressure

Economic Times

Economic Times · 25d ago

Rupee weakens slightly, broad dollar softness cushions pressure

The Indian rupee experienced a slight decline against the U.S. dollar, with local and foreign banks contributing to the pressure through dollar bids. However, overall dollar weakness mitigated larger losses. The rupee ended at 86.2925 per dollar, slipping 0.2% for the day. Analysts attributed the rupee's ongoing underperformance to factors like muted portfolio flows, India’s external investment deficit, and potential reserve accumulation by the Reserve Bank of India.

Rupee breaches 83.58/$ level, ends at fresh record low

VCCircle

VCCircle · 1y ago

Rupee breaches 83.58/$ level, ends at fresh record low

The Indian rupee hit a new record low against the US dollar on Thursday, reaching 83.6650 before closing at 83.6425. The currency has been under pressure due to expected outflows and strong demand for dollars from local importers. In addition, a stronger dollar and weakness in the Chinese yuan also contributed to the rupee's decline. Despite strong economic growth in India, the rupee has been hovering around record lows due to equity outflows and corporate dollar demand. The central bank has been attempting to support the currency within a tight range but was absent from the market on Thursday, allowing the rupee to fall.

Rupee rises 2 paise to close at 83.95 against US dollar as local equities gain

Money Control

Money Control · 1y ago

Rupee rises 2 paise to close at 83.95 against US dollar as local equities gain

The Indian rupee ended marginally higher against the US dollar, supported by gains in the domestic markets. The rupee consolidated in a narrow range and settled higher by 2 paise at 83.95 against the dollar. Traders are now waiting for the release of US CPI data, India CPI, WPI, IIP data, and India's trade data next week for further cues on the rupee. The rupee is expected to trade with a slight negative bias due to selling pressure from foreign investors and a positive US dollar.

Rupee jumps most in a month as Iran-Israel ceasefire sparks relief rally

Economic Times

Economic Times · 1m ago

Rupee jumps most in a month as Iran-Israel ceasefire sparks relief rally

The Indian rupee experienced its largest single-day rise in a month, closing at 85.9750 against the U.S. dollar after a ceasefire between Israel and Iran led to a drop in oil prices. The relief rally strengthened Asian currencies and boosted risk sentiment. The dollar weakened as oil prices fell, while traders engaged in dollar sales and adjusted rupee bets. Indian stock indexes rallied but gains were limited amid geopolitical concerns.

Rupee hits over two-week low hurt by weaker Chinese yuan, importer hedging

VCCircle

VCCircle · 4m ago

Rupee hits over two-week low hurt by weaker Chinese yuan, importer hedging

The Indian rupee dropped to its lowest point in over two weeks, affected by a weaker Chinese yuan and importer hedging. It closed at 86.2650 against the U.S. dollar, a decline of 0.5%. The onshore Chinese yuan declined, impacting Asian currencies. Indian importer dollar bids were strong, contributing to the rupee's weakness. Global and Indian equities saw gains despite ongoing tariff-related volatility, and investors anticipate the Reserve Bank of India's policy decision amid declining forward premiums.

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