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Rupee slips 17 paise to 88.26 against US dollar on FPI outflows
Economic Times
·
1d ago
Medial
The Indian rupee depreciated by 17 paise to 88.26 against the US dollar due to continuous foreign fund outflows and concerns over US tariffs. The rupee had previously breached the 88 per dollar mark, closing at an all-time low of 88.09. The Reserve Bank of India continued selling dollars to protect the rupee, but it might allow further depreciation to maintain competitiveness. India's economy grew 7.8% in the first quarter, despite trade and tariff issues.
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Rupee hits all-time low with more trouble ahead: 5 reasons why it is bad for markets
Economic Times
·
20h ago
Medial
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.
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Rupee falls 18 paise to 87.76 against US dollar in early trade
Economic Times
·
4d ago
Medial
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.
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Rupee rises 10 paise to 87.59 against US dollar in early trade
Economic Times
·
4d ago
Medial
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.
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Rupee slips to record low as equity sentiment sours after tax hike
VCCircle
·
1y ago
Medial
The Indian rupee reached a new all-time low against the US dollar as concerns about outflows from local equities weighed on the currency. However, the Reserve Bank of India's intervention helped ease the pressure. The rupee hit a record low of 83.72 against the dollar before closing at 83.7175. Sentiment surrounding local equities has been dampened by the government's decision to raise taxes on profits from equity investments and derivatives trades. The RBI's routine interventions have helped to limit volatility expectations for the rupee.
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Rupee falls 35 paise to hit all-time low of 83.48 against US dollar
Money Control
·
1y ago
Medial
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.
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Rupee rises 2 paise to close at 83.95 against US dollar as local equities gain
Money Control
·
1y ago
Medial
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.
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Rupee recovers 3 paise to 83.58 against dollar in early trade
YourStory
·
1y ago
Medial
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.
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Rupee breaches 83.58/$ level, ends at fresh record low
VCCircle
·
1y ago
Medial
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.
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Rupee ends flat, unable to benefit from rise in Asian peers
VCCircle
·
1y ago
Medial
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.
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Rupee rises 31 paise to close at 85.31 against US dollar
Economic Times
·
2m ago
Medial
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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