Page 2 - Dollar

Rupee tipped to weaken gradually amid dollar strength as 2025 kicks off

The local unit dipped to its sixth consecutive record closing low on Tuesday, pressured by a decline in its regional peers

On slippery slope: Rupee hits fresh low, extends losing streak to 7 years

Despite the decline, India's foreign exchange reserves remain the fourth largest in the world

Rupee falls 10 paise to hit new record low of 85.25 against US dollar

The rupee depreciated 10 paise to hit a new all-time low of 85.25 against the US dollar in early trade on Thursday, dragged down by the unabated outflow of foreign capital amid increased month-end demand of the American currency. Positive sentiment in domestic equity markets failed to support the Indian currency as the greenback index remained elevated while crude oil prices were on upward move, forex traders said. At the interbank foreign exchange, the rupee opened weak at 85.23 and slipped further to hit a life-time low of 85.25 against the greenback in initial deals, registering a loss of 10 paise against its previous closing level. On Tuesday, the rupee fell 4 paise to settle at a record low of 85.15 against the US dollar. The forex markets were closed on Wednesday for Christmas. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally lower by 0.11 per cent but remained elevated at 107.90, amid soaring US ...

Rupee likely to stay near record lows as strong dollar, US yields weigh

Long term US yields are at multi-month highs, further boosting the greenback

Rupee fails to recover, remains flat at 85.04 against dollar in early trade

The rupee failed to sustain a recovery from its all-time low level and turned flat at 85.04 against the US dollar in early trade on Monday, giving in to the strengthening American currency and unabated outflow of foreign funds. Forex traders said the rupee stayed weak due to significant dollar demand amid higher crude oil prices triggered by the volatile geopolitical situation, even though a positive sentiment in the domestic equity markets cushioned the local unit at lower level. They said the dollar index is expected to remain elevated in the near-term amid the fear of delayed interest rate cuts by the US Federal Reserve in 2025. At the interbank foreign exchange, the rupee opened at 85.02 and slipped to its previous session's closing level of 85.04 against the greenback. On Friday, the rupee saw some recovery from its all-time low level and settled 9 paise higher at 85.04 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket

Rupee gains 6 paise to 85.07 against US dollar during early trade

The rupee saw some recovery from its all-time low level and appreciated 6 paise to 85.07 against the US dollar in early trade on Friday. Forex traders said the rupee is likely to remain in a weakening mode due to significant dollar demand. The Dollar Index (DXY) is expected to remain elevated, with resistance near the 110 level in the near-term amid a reduced likelihood of significant Fed rate cuts in 2025. The Federal Reserve cut rates by 25 basis points on Wednesday, but its forward guidance for 2025 has softened, with expectations reduced from four rate cuts to just two. At the interbank foreign exchange, the rupee opened at 85.07, registering a gain of 6 paise from its previous close. It was later trading at 85.10 against the greenback, a tad above the all-time low level. On Thursday, the rupee depreciated 19 paise and breached the crucial 85 level to close at a fresh all-time low of 85.13 against the US dollar. "The Indian rupee is facing headwinds from both global and local

RBI ramps up forward dollar sales to defend stumbling rupee, say traders

In the last two trading sessions, the Reserve Bank of India (RBI) conducted buy-sell swaps of an estimated size of $3 billion-4 billion

Rupee falls past 85/USD to all-time low after hawkish US Fed outlook

The last time the local unit traded below the 83 mark against the US dollar was on December 18 last year, when it hit 82.19 during intraday deals

Rupee falls 3 paise to 84.83 against US dollar during early trade

The rupee fell 3 paise to 84.83 against the US dollar in early trade on Monday, dragged down by a muted trend in domestic equities and elevated crude oil prices. Forex traders said the rupee remains in a weakening mode due to dollar demand from importers and foreign banks. At the interbank foreign exchange, the rupee opened at 84.83 against the greenback, registering a fall of 3 paise over its previous close. On Friday, the rupee rebounded from its all-time low level and settled with a gain of 8 paise at 84.80 against the US dollar. Over the past week, the Indian rupee faced depreciation following the Reserve Bank of India's announcement of leadership transition. The RBI kept a close eye on banking system liquidity and opted for a buy-sell swap to provide much-needed support to the rupee. Additionally, Foreign Institutional Investors (FIIs) turning net buyers in December, following significant outflows in the past two months, is expected to lend further stability to the domestic

US' overreach, not Brics, poses the real threat to dollar dominance

If Trump wants to maintain the dollar's primacy, he should recognise that its value is not dependent on American power and threats, but on American reliability

Rupee falls 7 paise to 84.73 against US dollar during early trade

The rupee fell 7 paise to trade at 84.73 against the US dollar in early trade on Monday dragged down by foreign fund outflows and a muted trend in domestic equities. Forex traders said the rupee remains in a weakening mode due to dollar demand from importers and foreign banks. At the interbank foreign exchange, the rupee opened at 84.70 against the greenback, then touched 84.73 in the initial trade, registering a fall of 7 paise over its previous close. On Friday, the rupee appreciated by 5 paise to settle at 84.66 against the US dollar. "On the domestic front, all eyes will be on Industrial Production (IIP) and CPI data following last week's RBI monetary policy announcement. The 50-basis point CRR cut provided much-needed liquidity and lent support to the Rupee," CR Forex Advisors MD Amit Pabari said. The Reserve Bank of India on Friday kept its key interest rate unchanged citing inflation risks, but cut the Cash Reserve Ratio that banks are required to park with the central bank

Forex reserves up $1.51 bn to $658.091 bn; end consecutive weeks of decline

India's forex reserves increased by USD 1.51 billion to USD 658.091 billion for the week ended November 29, the RBI said on Friday. The overall reserves had dropped by USD 1.31 billion to USD 656.582 billion in the previous reporting week. The kitty has witnessed a declining trend in the recent past and had dropped by a record USD 17.761 billion in the week prior to the last. The forex reserves had increased to an all-time high of USD 704.885 billion in end-September. For the week ended November 29, foreign currency assets, a major component of the reserves, increased by USD 2.061 billion to USD 568.852 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves decreased by USD 595 billion to USD 66.979 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 22

Asian shares slip on South Korea risk, dollar steady ahead of payrolls

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 per cent in part due to a 1.7 per cent drop in South Korea's KOSPI

Rupee falls 15 paise to 83.44 against US dollar during early trade

The rupee fell sharply by 15 paise against the US dollar to 83.44 in early trade on Wednesday amid muted trends in the domestic equity markets. However, a decline in the dollar index and a marginal fall in the Brent crude index prevented further losses in the domestic unit, according to experts. At the interbank foreign exchange, the local unit opened at 84.38 -- down 9 paise from its previous close -- and then slid further to 84.44, registering a decline of 15 paise from its previous close. On Tuesday, the rupee pared its intra-day losses to settle flat at 84.29 against the US dollar. "The Indian banking liquidity fell into deficit as industry players paid Rs 1.6-1.8 lakh crore as GST payment. This was after two months that liquidity has fallen into a deficit as the RBI also intervened into forex markets to defend the rupee weighing on liquidity conditions," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. "The rupee may be in the

Rupee appreciates 0.2% tracking Asian peers, dollar index softens

The local currency settled at Rs 84.29 per dollar on Monday, against Rs 84.46 per dollar on Friday

Forex reserves see sharpest weekly drop on record, hit over four-month low

The reserves fell by $17.8 billion in the week of Nov. 15 - the most since available data starting 1998 - to $657.89 billion, data from the Reserve Bank of India (RBI) showed on Friday

Rupee rises 2 paise to 84.40 against US dollar during early trade

The rupee rose 2 paise to 84.40 against the US dollar in early trade on Tuesday amid a recovery in domestic equity markets and a weaker American currency against major Asian rivals. Forex traders said, however, sustained outflow of foreign funds and an upward movement in crude oil prices put pressure on the local unit and capped its sharp gain. At the interbank foreign exchange, the rupee opened at 84.39 and slipped further to 84.40 against the greenback, trading 2 paise higher from its previous close. On Monday, the rupee recovered from its lowest level of 84.46 to settle 4 paise higher at 84.42 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.09 per cent at 106.10. Brent crude, the global oil benchmark, rose by 0.19 per cent to USD 73.44 per barrel in futures trade. On the domestic equity market front, Sensex was trading 271.42 points, or 0.35 per cent higher, at 77,610.43 points

Dollar gains strength, poised for biggest weekly gain as rate cut hopes dim

A key pillar of support for the dollar has been the expectation that higher inflation under Trump will mean the Federal Reserve has less room to cut interest rates

Rupee falls 2 paise to all-time low of 84.40 against dollar in early trade

The rupee slipped 2 paise to an all-time low of 84.40 against the US dollar in early trade on Tuesday, as persistent foreign fund outflows and strength of the American currency in the overseas market dented investors' sentiments. Forex traders said the rupee is expected to trade between 83.80 and 84.50 in the medium term with the Reserve Bank of India likely limiting any significant downside, aided by its robust foreign exchange reserves. At the interbank foreign exchange, the rupee opened at 84.39 against the greenback, then fell further to an all-time low of 84.40, registering a fall of 2 paise over its previous close. On Monday, the rupee dropped 1 paisa to hit a new lifetime low of 84.38 against the US dollar, registering the fourth straight session of loss. "The Reserve Bank of India plays a key role in stabilizing the rupee, curbing its depreciation. Despite the Emerging Market Currencies Index dropping 6.30 per cent from October 2, the rupee fell only 0.69 per cent, reflect

Rupee falls 1 paisa to all-time low of 84.38 against dollar in early trade

The rupee slipped 1 paisa to an all-time low of 84.38 against the US dollar in early trade on Monday, weighed down by persistent foreign fund outflows and a muted trend in domestic equities. Forex traders said the rupee is likely to remain under pressure unless there is a softening in the dollar index or a slowdown in foreign fund outflows. At the interbank foreign exchange, the rupee opened at an all-time low of 84.38 against the greenback, registering a fall of 1 paisa over its previous close. On Friday, the rupee dropped 5 paise to hit a new lifetime low of 84.37 against the US dollar, registering a decline for the third straight session. Last week, the rupee came under pressure amid the US elections and sustained foreign fund outflows. Following nearly USD 12 billion in equity sell-offs in October, foreign funds have continued their retreat in November, with outflows of around USD 1.6 billion recorded in just the first 10 days. This trend reflects the overvaluation of Indian .