🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

Indian rupee sinks to record low of 12.33 versus offshore yuan in likely boost to competitiveness

Economic Times

Economic Times · 20h ago

Indian rupee sinks to record low of 12.33 versus offshore yuan in likely boost to competitiveness

The Indian rupee has dropped to a record low against the offshore Chinese yuan, driven by U.S. tariffs on Indian goods. The rupee's decline may boost competitiveness for Indian exporters against Chinese rivals in key markets. With a weaker rupee, Indian products become cheaper, potentially narrowing India’s trade deficit with China. This development is being closely monitored by the Reserve Bank of India, which might find the rupee's movement beneficial within certain limits.

2

Related News

Rupee falls to record low, RBI likely steps in

VCCircle

VCCircle · 1y ago

Rupee falls to record low, RBI likely steps in

The Indian rupee hit a new record low on Wednesday due to increased demand for dollars by local oil companies, importers, and equity-related outflows. The Reserve Bank of India (RBI) intervened by selling dollars through state-run banks to prevent further losses. The rupee closed at 83.3725 against the U.S. dollar, down 0.1% compared to the previous session's close. The RBI also likely intervened in the non-deliverable forwards market to prevent further depreciation. Weakness in the offshore Chinese yuan and the Japanese yen also contributed to the rupee's decline.

Rupee hits record low, posts steepest weekly fall in seven months

VCCircle

VCCircle · 1y ago

Rupee hits record low, posts steepest weekly fall in seven months

The Indian rupee hit a record low against the US dollar, experiencing its steepest weekly decline in seven months. Factors such as a drop in the offshore Chinese yuan, lack of substantial dollar inflows, and dollar strength contributed to the rupee's fall. A foreign exchange trader noted an "artificial dollar scarcity" in the market, while the Reserve Bank of India appeared absent from the session near its closure. The Korean won and offshore Chinese yuan also experienced losses. Analysts suggest the coming days will be critical for the rupee's performance.

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 likely to decline on yuan-led weakness in Asia fx

Reuters · 2y ago

Rupee likely to decline on yuan-led weakness in Asia fx

The Indian rupee recovered against the US dollar in the offshore NDF market due to the Reserve Bank of India's intervention and the Chinese yuan's rebound. The USD/INR one-month NDF improved to 83.24/83.26 from an earlier high of 83.54. The offshore yuan also rose against the dollar, aiding the rupee's recovery. Although the Indian rupee is expected to drop at the opening on Monday, tracking losses in Asian peers and on persisting worries over U.S. yields.

Rupee nears 84/$ mark as Asian currencies weaken, dollar gains

VCCircle

VCCircle · 1y ago

Rupee nears 84/$ mark as Asian currencies weaken, dollar gains

The Indian rupee reached its weakest ever level against the US dollar on Tuesday due to weakening Asian currencies and increased demand for dollars. The rupee closed at a record low of 83.9525 per US dollar, down 0.1% from the previous session. The Reserve Bank of India's interventions in various markets have helped to stabilise volatility. However, concerns about a US economic slowdown and the unwinding of carry trades involving the Chinese yuan and the rupee have put pressure on the currency.

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 hits record low of 87.59/$ on tariff, outflow worries

Economic Times

Economic Times · 28d ago

Rupee hits record low of 87.59/$ on tariff, outflow worries

The Indian rupee hit a record low of 87.59 per US dollar due to U.S. tariff concerns, outflows from local equities, and a strong dollar. It briefly touched 87.74/$1 before closing slightly stronger, likely aided by the Reserve Bank of India's intervention. The rupee was pressured by constant dollar demand from oil companies and local institutions, with the central bank actively defending its value. Importers began hedging, fearing further depreciation.

Rupee slips to fresh record low, in line with other Asian currencies

VCCircle

VCCircle · 1y ago

Rupee slips to fresh record low, in line with other Asian currencies

The Indian rupee reached a record low on Monday, influenced by the decline in other Asian currencies. The rupee closed at 83.9725 against the U.S. dollar, with the Reserve Bank of India likely stepping in to prevent further depreciation. Traders expect the rupee to remain rangebound until the release of U.S. consumer inflation data later in the week. Interest rate futures currently anticipate rate cuts in 2024, starting in September. The dollar-rupee forward premiums slipped, with the 1-year implied yield down 2 basis points at 2.02%.

Rupee logs biggest weekly gain in more than a year, but underperforms peers

VCCircle

VCCircle · 7m ago

Rupee logs biggest weekly gain in more than a year, but underperforms peers

The Indian rupee recorded its largest weekly gain in over a year, closing up 0.3% at 86.2050 per U.S. dollar, driven by temporary relief from potential U.S. tariffs under President Trump. Despite this rise, the rupee underperformed compared to other regional currencies like the Korean won and the offshore Chinese yuan. The dollar index fell amidst speculation of a potential trade deal with China. However, concerns over India's current account and outflows persist.

RBI intervention shields rupee from record low after Trump tariff threat

Economic Times

Economic Times · 24d ago

RBI intervention shields rupee from record low after Trump tariff threat

The Indian rupee fell on escalating U.S. trade tensions, nearing a record low, but likely RBI intervention helped stabilize it. The currency closed at 87.8000 to the U.S. dollar, declining 0.2% from the previous day's close. President Trump's tariff threats raised economic concerns, prompting India to vow protective actions. The Reserve Bank of India intervened via state-run banks to cushion the rupee, amid fears of increased foreign outflows and geopolitical tensions affecting crude oil prices.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Download the medial app to read full posts, comements and news.