Page 2 - Indian Rupee

RBI asks some lenders to reduce speculative positions against rupee

While the RBI has previously stopped banks from adding long positions on the dollar-rupee, they have not asked them to cut positions in recent years

Rupee falls below 84.50/$ for first time on dollar strength, outflows

The gains paused earlier in the week but restarted on Wednesday due to heightened geopolitical risks and after the Federal Reserve officials signalled caution on rate cuts

Rupee hits record low as US dollar climbs, portfolio outflows continue

Rupee weakened to 84.4975 per US dollar in early trading on Friday, eclipsing its previous all-time low of 84.4925 on Thursday

Rupee hits new low of 84.50/$ amid equity sell-off, geopolitical tension

Uncertainty around the US Federal Reserve's future rate trajectory further weighed on the local currency

Rupee turns flat at 84.42 against US dollar amid volatile crude prices

The rupee turned flat at 84.42 against the US dollar in early trade on Thursday amid volatile crude oil prices and lackluster sentiment in the domestic equity markets. A weaker American currency supported the local unit, but it was weighed down by the relentless outflow of foreign funds, forex traders said. At the interbank foreign exchange, the rupee opened at 84.41 and slipped further to 84.42 against the greenback, trading at its previous closing level in early deals. On Tuesday, the rupee settled flat at 84.42 against the US dollar. The foreign exchange market was closed on Wednesday due to assembly elections in Maharashtra. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.11 per cent at 106.49. Brent crude, the global oil benchmark, rose by 0.22 per cent to USD 72.97 per barrel in futures trade. On the domestic equity market front, Sensex was trading 398.45points, or 0.51 per cent lower, at 77,179.9

Exports not adversely impacted by rupee exchange rate policy: RBI Bulletin

Rupee's 40-currency real effective exchange rate (REER) - a measure of its competitiveness - shows the currency was overvalued by 7.21 per cent at the end of October, close to highest in 6 years

No evidence of exchange rate policy hurting exports: RBI report

Rupee depreciated by 7.8 per cent during FY23 and by 1.4 per cent in FY24. And so far in FY25, it has depreciated by 1.5 per cent

Rupee depreciates to new low of 84.42 per dollar amid geopolitical tensions

The previous low of Rs 84.41 per dollar was hit last Thursday. The local currency had settled at Rs 84.40 per dollar on Monday

Rupee flat at 84.43 against USD; low crude price negates dollar strength

The rupee traded in an almost flat note and settled 1 paisa lower at 84.43 (provisional) against the US dollar on Tuesday, as support from positive domestic equity markets and lower crude oil prices was negated by strength of the American currency in the overseas market. Forex traders said the Ukraine-Russia war took a new turn with Russia updating its nuclear doctrine and Ukraine aimed American missiles at Russia. Safe haven assets like Gold, JPY and CHF and to some extent dollar were bought and rupee felt the heat and was sold at the closing hours. At the interbank foreign exchange, the rupee opened at 84.39 and stayed range-bound throughout the session. It finally settled at 84.43 (provisional) against the greenback, down 1 paisa 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. Praveen Singh, Associate VP, Fundamental Currencies and Commodities, Sharekhan by BNP Paribas, said the USD-I

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

Rupee gains 8 paise to 84.38 against US dollar amid crude price support

The rupee recovered from its lowest level and appreciated by 8 paise to 84.38 against the US dollar in early trade on Monday despite a stronger American currency and sustained outflow of foreign funds. Lower level of crude oil prices in the international market supported the recovery of local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 84.42 and strengthened further to 84.38 against the greenback, trading 8 paise higher from its previous close. On Thursday, the rupee fell 7 paise to settle at its all-time low of 84.46 against the US dollar. Forex markets were closed on Friday on account of Guru Nanak Jayanti. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.06 per cent at 106.68. Brent crude, the global oil benchmark, rose 0.51 per cent to USD 71.40 per barrel in futures trade. Analysts said that India's inflation surge is putting additional pressure on the currency.

BS Poll: Rupee may depreciate to 84.5 against US dollar by end of December

RBI is expected to be active in the currency market, which will cap the losses

Rupee settles at new low of 84.41 as US dollar strengthens, FII outflows

The dollar index rose to 106.66 per cent on Thursday post the US CPI data. Dollar index measures the strength of the greenback against a basket of six major currencies

Market sets exchange rate, RBI acts to curb undue volatility: Governor Das

Important to note that the exchange is a barometer of the economy's strength, Governor Shaktikanta Das says

Rupee stumbles 1 paisa to all-time low of 84.40 against US dollar

The rupee slipped 1 paisa to an all-time low of 84.40 against the US dollar in early trade on Thursday, weighed down by unabated foreign fund outflows and strong dollar demand from investors. Forex traders said the downward pressure on the USD/INR pair is largely driven by persistent inflation and significant foreign outflows. At the interbank foreign exchange, the rupee opened at 84.40 against the greenback, registering a fall of 1 paisa over its previous close. On Wednesday, the rupee moved in a narrow range and settled flat at 84.39 against the US dollar. "... the Reserve Bank of India (RBI) has stepped up as the rupee's primary protector. The central bank has intervened by selling dollars to support the currency, though this has led to a dip in India's forex reserves, which now stand at USD 682 billion, down from a peak of USD 704 billion," CR Forex Advisors MD Amit Pabari said. Pabari further added that "given the current landscape, the USD/INR is likely to trade within a ran

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

The rupee slipped 1 paisa to an all-time low of 84.40 against the US dollar in early trade on Wednesday, as persistent foreign fund outflows and a muted trend in domestic equities weighed on the local unit. Forex traders said the USDINR pair has shown significant volatility in recent sessions, with the rupee inching closer to its all-time low of 84.40. This downward pressure is largely driven by global factors, particularly the Dollar Index's strengthening. At the interbank foreign exchange, the rupee opened at 84.40 against the greenback, registering a fall of 1 paisa over its previous close. On Tuesday, the rupee fell 1 paisa to a new lifetime low of 84.39 against the US dollar. "It appears that the rupee has established support around the current levels, with depreciation limited near 84.50," CR Forex Advisors MD Amit Pabari said. Pabari further added that the RBI stands tall as the depreciation in the rupee seems to be limited as the Reserve Bank of India (RBI) continues to se

Rupee hits new intraday low of 84.40 against US dollar on FPI selling

The Dollar Index rose to 105.83, while the US 10-year Treasury yield climbed to 4.36 per cent

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 may depreciate 8-10% against dollar during Trump 2.0, says SBI report

The rupee may depreciate 8-10 per cent against the US dollar during the Trump 2.0 regime, said a SBI research report, even as the local currency hit its all-time low on Monday. The report, titled US Presidential Election 2024: How Trump 2.0 Impacts India's and Global Economy, emphasised that the rupee can have a brief spell of depreciation against the US dollar, followed by appreciation. Donald J Trump's historical comeback as the 47th President of the United States adds a morphine shot to the markets and select asset classes even as the focus is now shifting to wider economic ramifications and supply chain realignments, the report said. "Trump's victory introduces a mix of challenges and opportunities for India. While the potential for increased tariffs, H-1B restrictions, and a strong dollar could bring short-term volatility...But it also presents India with long-term incentives to expand its manufacturing, diversify export markets, and enhance economic self-reliance," it added.

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 .