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Rupee ends a tad lower, hurt by corporate dollar bids, outflows

Economic Times

Economic Times · 2m ago

Rupee ends a tad lower, hurt by corporate dollar bids, outflows

The Indian rupee slightly weakened, closing at 85.60 against the U.S. dollar due to corporate dollar demand and likely portfolio outflows, despite a global dollar dip. Asian currencies benefitted from the weaker dollar, with the Taiwanese dollar rising by 1.6%. Crude oil prices and Middle East tensions also influenced the market, while predictions of a U.S. Federal Reserve rate cut saw a rise in dollar-rupee forward premiums. India's equity indices fell by about 1%.

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

Economic Times

Economic Times · 2m 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 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 ends a tad lower, month-end importer dollar bids weigh

Economic Times

Economic Times · 2m 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 flat, unable to benefit from rise in Asian peers

VCCircle

VCCircle · 1y ago

Rupee ends flat, unable to benefit from rise in Asian peers

The Indian rupee closed flat against the US dollar on Monday, failing to benefit from the rise in other Asian currencies. The rupee closed at 83.90 against the dollar, almost unchanged from the previous session's close of 83.89. Despite the dollar's slump in August, the rupee has struggled to make gains due to increased dollar demand from importers and outflows from equities. Additionally, the recent comments by Federal Reserve Chair Jerome Powell indicate an imminent rate cut, further limiting the rupee's potential gains. Analysts expect the rupee to trade between 83.75 and 84 in the near-term.

Rupee ends at record low, logs fourth consecutive weekly decline

VCCircle

VCCircle · 1y ago

Rupee ends at record low, logs fourth consecutive weekly decline

The Indian rupee closed at its lowest ever level against the US dollar, marking its fourth consecutive weekly decline. The currency was pressured by strong dollar demand from local oil companies and other factors such as volatility in the Chinese yuan and outflows from local equities. Some analysts expect the rupee to weaken further in the coming weeks. The dollar index remained steady, while Asian currencies were mixed. Investors are now awaiting the release of US personal consumption expenditure price index data.

Rupee hits all-time low with more trouble ahead: 5 reasons why it is bad for markets

Economic Times

Economic Times · 4d ago

Rupee hits all-time low with more trouble ahead: 5 reasons why it is bad for markets

The Indian rupee hit a new low against the US Dollar, driven by concerns over a widening fiscal deficit due to US tariffs on Indian products, importers' hedging demand, and FPI outflows. Analysts warn the falling rupee could increase inflation and import costs, widen the trade deficit, lead to foreign capital outflows, and increase the burden of corporate debt. The Reserve Bank of India might intervene if the rupee approaches 88.50.

Rupee rises 10 paise to 87.59 against US dollar in early trade

Economic Times

Economic Times · 8d ago

Rupee rises 10 paise to 87.59 against US dollar in early trade

The rupee appreciated 10 paise to 87.59 against the US dollar, supported by a weaker dollar index and lower Brent crude prices. The Reserve Bank of India's intervention helped prevent the rupee from crossing its historic low. Despite these gains, foreign institutional investor outflows and weaker domestic equities limited further appreciation. The dollar index fell, influenced by concerns over the US Federal Reserve's independence, following President Trump's dismissal of FED Governor Lisa Cook.

Rupee ends lower despite rise in most Asian peers; US Fed chair's remarks in focus

VCCircle

VCCircle · 11m ago

Rupee ends lower despite rise in most Asian peers; US Fed chair's remarks in focus

The Indian rupee closed weaker against the US dollar despite most Asian currencies posting gains. The rupee was weighed down by importer and interbank dollar bids, as well as the unwinding of interbank long positions. The currency has been trading with a positive bias since the US Federal Reserve announced a 50 basis points rate cut, but has struggled to rise above a key resistance level. The rupee's gains have also been limited by speculative positioning and passive absorption of dollar inflows by the Reserve Bank of India.

Rupee ends at fresh record low, stays above 84/$ mark

VCCircle

VCCircle · 10m ago

Rupee ends at fresh record low, stays above 84/$ mark

The Indian rupee hit a new record low against the US dollar, closing at 84.0650 amidst equity outflows. However, it managed to avoid a steep decline due to continued dollar sales from state-run banks, possibly on behalf of the Reserve Bank of India. The rupee's depreciation comes as foreign investors withdraw $8.4 billion from Indian stocks this month, surpassing the previous record monthly outflow. Despite the rupee not benefitting from the positive trend in Asian currencies, benchmark Indian equity indices ended the day higher, but with a third consecutive weekly decline.

Rupee logs worst week in 18 months on foreign outflows

VCCircle

VCCircle · 7m ago

Rupee logs worst week in 18 months on foreign outflows

The Indian rupee experienced its worst weekly fall in 18 months, declining by 0.6% due to persistent foreign portfolio outflows and heightened dollar bids in the non-deliverable forwards market. It hit an all-time low of 86.6475 during the week, though Reserve Bank of India interventions limited further losses. Contributing factors included a strong U.S. dollar and uncertainty from incoming U.S. President Trump's policies. Foreign investors pulled out nearly $6 billion from local markets in January.

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