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Rupee recovers 3 paise to 83.58 against dollar in early trade

YourStory

YourStory · 1y ago

Rupee recovers 3 paise to 83.58 against dollar in early trade

The Indian rupee strengthened against the US dollar due to inflow of foreign capital and positive sentiment in the domestic equity market. The rupee opened at 83.60 and gained further to 83.58 against the dollar. The previous day, the rupee had fallen to its lowest level in over two months. The decline was partly caused by block deals and a decline in the pound after the Bank of England decided not to cut interest rates. The dollar index was trading lower and crude oil prices eased.

Related News

Indian rupee rises 5 paise to 86.26 against US dollar in early trade

Economic Times

Economic Times · 1m ago

Indian rupee rises 5 paise to 86.26 against US dollar in early trade

The Indian rupee appreciated by 5 paise to 86.26 against the US dollar in early trade, boosted by a positive trend in domestic equities. Despite trading in a narrow range, forex traders remain cautious due to uncertainties surrounding global tariffs and India-US trade talks. The dollar index rose slightly as investors anticipate trade deal outcomes. Additionally, domestic stock indices, Sensex and Nifty, saw modest gains, supported by domestic market trends amidst forex market challenges.

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 falls 18 paise to 87.76 against US dollar in early trade

Economic Times

Economic Times · 3h ago

Rupee falls 18 paise to 87.76 against US dollar in early trade

The Indian rupee fell by 18 paise to 87.76 against the US dollar due to ongoing foreign fund outflows and increased month-end dollar demand. Traders highlighted pressure on the rupee from US tariffs impacting Indian exports and the trade deficit. The Reserve Bank of India cited uncertainties in US trade policies affecting India's economic demand, while the government plans support for exporters. Meanwhile, the dollar index rose by 0.18%, reflecting a stronger dollar environment.

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 39 Paise to 84.18 Against US Dollar in Early Trade

OutlookIndia

OutlookIndia · 3m ago

Rupee Rises 39 Paise to 84.18 Against US Dollar in Early Trade

The Indian rupee appreciated by 39 paise to reach 84.18 against the US dollar in early trade. This gain was bolstered by foreign investor interest in Indian assets, a significant decline in crude oil prices, and a positive trend in domestic equities. Brent crude oil prices fell nearly 4% following OPEC+'s decision to increase production, contributing to an easing of India's oil import bill. The rupee's stability was also supported by steady capital inflows and evolving Reserve Bank actions.

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

Economic Times

Economic Times · 23h 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 falls 35 paise to hit all-time low of 83.48 against US dollar

Money Control

Money Control · 1y ago

Rupee falls 35 paise to hit all-time low of 83.48 against US dollar

The Indian rupee depreciated to a record low of 83.48 against the US dollar as the greenback strengthened against major currencies. The decline was driven by the surprising interest rate cut by the Swiss National Bank, which increased the likelihood of a rate cut by the European Central Bank. Foreign fund outflows also impacted the rupee. However, the domestic equity market showed gains, with the Sensex rising by 0.26% and the Nifty by 0.39%. Overall, the rupee is expected to have a negative bias due to the strong US dollar and potential rebound in crude oil prices.

Rupee slumps to record low, logs worst day in nearly 7 months as dollar bids spike

VCCircle

VCCircle · 8m ago

Rupee slumps to record low, logs worst day in nearly 7 months as dollar bids spike

The Indian rupee reached a new low against the US dollar as dollar demand increased due to maturing non-deliverable forwards and currency futures. The rupee weakened to a new all-time low of 85.8075 against the dollar, before recovering slightly after intervention by the central bank. The rupee has been hit by concerns over India's slowing growth and widening trade deficit, as well as the strengthening US dollar.

Strong dollar demand by banks weakens rupee by 28 paise

Economic Times

Economic Times · 1m ago

Strong dollar demand by banks weakens rupee by 28 paise

The Indian rupee weakened by 28 paise to 85.75 per dollar due to strong dollar demand from foreign and domestic banks, despite other Asian currencies strengthening. The Reserve Bank of India likely intervened by purchasing dollars through state-run banks, as the rupee traded between 85.44/$1 to 85.78/$1. Demand from nationalized banks, oil companies, and importers constrained the rupee, while the dollar index traded near a three-year low.

Rupee rises 31 paise to close at 85.31 against US dollar

Economic Times

Economic Times · 1m ago

Rupee rises 31 paise to close at 85.31 against US dollar

The Indian rupee strengthened by 31 paise to close at 85.31 against the US dollar, influenced by a weaker dollar globally and declining US treasury yields. Forex traders attributed the rupee's rise to decreased global crude oil prices. The domestic unit faced initial losses but recovered to settle significantly higher. In contrast, Indian equity markets reflected a downward trend, with both the Sensex and Nifty experiencing declines. Traders may monitor upcoming US Non-Farm payrolls for further cues.

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