Indian Rupee

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

Rupee slides past 85 vs $ to hit new low after hawkish US Fed outlook

India, US bond yield spread narrowest in nearly 20-yr; Sensex slips below 80K after 4 days of equity selloff

Rising pressure on rupee clouds RBI's February rate cut prospects

India's foreign exchange reserves have declined by $50 billion this quarter as of December 13, according to the latest RBI data

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 hits new low of 84.96 per dollar, US Fed meet outcome in focus

RBI sold dollars via state-run banks, which avoided further depreciation, said dealers

RBI dials down use of NDFs to fight dollar, balance rupee stability

The Reserve Bank of India has recently let some short dollar positions in the overseas market expire without rolling into new contracts

Day after all-time low, rupee falls 1 paisa to 84.92 against US dollar

The rupee dropped 1 paisa to 84.92 against the US dollar in early trade on Wednesday and hovered around its all-time low level, as traders await more cues from the US FED on the interest rate front. Forex traders said dollar demand from importers and foreign banks and a muted trend in domestic equities further dented investor sentiments. At the interbank foreign exchange, the rupee opened at 84.92 against the greenback, registering a fall of 1 paisa over its previous close. On Tuesday, the rupee revisited its all-time low closing level of 84.91 against the US dollar. The rupee remains under pressure from both global and local factors. On the global front, the ripple effects of the Federal Reserve's anticipated slowdown in rate cuts for 2025 have been felt in India, as evidenced by a correction of over 1 per cent in Indian equities, CR Forex Advisors' MD-Amit Pabari said. Equity benchmark indices Sensex and Nifty slumped over 1 per cent on Tuesday, weighed down by an across-the-boa

Rupee weakens to new low of 84.93 as trade deficit hits record high

The local currency settled at Rs 84.90 per dollar as the Reserve Bank of India (RBI) intervened in the foreign exchange market via dollar sales

Rupee falls 1 paisa, hits new all-time low of 84.92 against US dollar

The rupee dropped 1 paisa to hit a new lifetime low of 84.92 against the US dollar in early trade on Tuesday, weighed down by foreign fund outflows and a muted trend in domestic equities. Forex traders said the rupee is likely to remain under pressure due to dollar demand from importers and foreign banks. At the interbank foreign exchange, the rupee opened at 84.89 against the greenback, then fell further to 84.92 against the American currency, registering a fall of 1 paisa over its previous close. On Monday, the rupee depreciated by 11 paise to close at an all-time low level of 84.91 against the US dollar. "The Indian rupee is expected to open at its lowest after a record number in respect of imports and a record trade deficit for November 24 mainly on account of increase in gold buying, took rupee lower in the NDF (Non-Deliverable Forward) markets," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. The opening will depend on where RB

Rupee weakens to new closing low of 84.87 due to rise in US Treasury yields

The rupee had settled at Rs 84.80 per dollar on Friday

Hurt by weak yuan, rise in US bond yields, Rupee logs record closing low

A decline in the yuan and elevated US bond yields had weighed on the rupee through the session and the currency declined further after the trade data was released

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

Domestic, global headwinds challenge RBI's forex intervention efforts

India's forex reserves are at a five-month low after the RBI sold $38 billion, per IDFC FIRST Bank's estimate, between October and the first week of December

Rupee recovers, gains 5 paise to 84.83 against US dollar in early trade

The rupee saw some recovery from its all-time low level and appreciated 5 paise to 84.83 against the US dollar in early trade on Friday on the back of favourable domestic inflation data. However, a strengthening American currency and volatile domestic equity markets amid foreign fund outflows capped the recovery in the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 84.85 and inched up further to 84.83 against the greenback, registering a gain of 5 paise from its previous close. On Thursday, the rupee fell 5 paise to end the session at the lowest level of 84.88 against the US dollar. The previous record low closing level was recorded on December 9, when the unit settled 20 paise lower at 84.86 against the dollar. The latest official data released on Thursday showed India's retail inflation declined in November to 5.48 per cent and came within the Reserve Bank's comfort zone mainly due to easing food prices, creating headroom for a rate cut at

Rupee falls to an all-time low, RBI intervention counters bearish tilt

While dollar-rupee forward premiums rose on Thursday in reaction to the heightened odds of a Fed rate cut and on the back of an elevated USD/INR overnight swap rate, they were pegged by the central

RBI's forex swaps, arbitrage spur inversion of rupee forward premiums curve

The implied yield on near-maturity forwards is now higher than on longer-term forwards for the first time this year

Nifty IT hits life high, tops 46,000; why are IT stocks in demand today?

The rupee fell 2 paise to near all-time low of 84.85 against the US dollar in early trade on Thursday on the back of foreign fund outflows and rising crude oil prices

Rupee falls 2 paise to near all-time low of 84.85 against US dollar

The rupee fell 2 paise to near all-time low of 84.85 against the US dollar in early trade on Thursday on the back of foreign fund outflows and rising crude oil prices. An elevated dollar index and muted domestic equity markets weighed on the Indian currency even as investors were awaiting cues from domestic inflation data to be released later in the day, forex traders said. At the interbank foreign exchange, the rupee opened at 84.85 against the greenback, registering a fall of 2 paise over its previous close. On Wednesday, the rupee settled with a gain of 2 paise at 84.83 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally lower by 0.12 per cent at 106.26. Brent crude, the global oil benchmark, rose 0.12 per cent to USD 73.61 per barrel in futures trade. On the domestic equity market front, the 30-share benchmark index Sensex was trading with a marginal gain of 53.59 points, or 0.07 per cent at

10-year bond yield may fall to 6.6% if RBI eases in Feb: ICICI's Prasanna

Prasanna expects a shallow monetary easing cycle of 50 basis points, with a 25-basis-point reduction in February, and a similar one in April or June

Rupee falls 2 paise to all-time low of 84.87 against dollar in early trade

The rupee fell 2 paise to all-time low of 84.87 against the US dollar in early trade on Wednesday, amid rising expectations of a shift in the Reserve Bank's monetary policy stance post the appointment of Sanjay Malhotra as the new RBI governor. Forex traders said markets now expect a rate cut in the upcoming monetary policy in February. While a muted tone in the domestic market and the overall strength of the US dollar index further pressurised the rupee. At the interbank foreign exchange, the rupee opened at 84.87, its all-time low against the greenback, registering a fall of 2 paise over its previous close. On Tuesday, the rupee settled for the day on a flat note higher by just 1 paisa at 84.85 against the US dollar. The Indian rupee opened at its lowest after the market expected the new RBI Governor to be dovish in his stance coming from the Finance Ministry and may cut rates as early as in February 2025, said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex