Page 2 - Rupee Vs Dollar

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 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.

Relief for Asian peers may slightly aid rupee but portfolio outflows weigh

A rally in the dollar and the rise in US bond yields following Donald Trump's victory in the US election has weighed on Asian currencies over the last two weeks, including the rupee

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 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 .

Rupee hits another low on rise in crude oil prices, equity selloff

Caution ahead of the US Fed meet outcome weighs on currency

Indian rupee drops to all-time low of 84.28 on bullish dollar outlook

Traders expect the Reserve Bank of India to continue intervening to prevent sharp moves in the rupee, which is evident in the currency's muted implied volatility compared to its regional peers

Rupee hits new low; yet second best performer among Asian currencies

RBI intervenes to cut volatility

Rupee hits record low as US election news boosts dollar, RBI steps in

The dollar index climbed 1.5 per cent to a four-month high of 105.19 as trends signalled an edge for Republican candidate Donald Trump, prompting interest in so-called 'Trump trades.

Rupee recovers from all-time low, rises 2 paise against US dollar

Forex traders said investors were cautious ahead of the US presidential election. Markets are bracing for potential volatility over the coming days

Rupee down 2 paise at all-time low of 84.13 against US dollar on FDI exodus

The rupee fell 2 paise to an all-time low of 84.13 against the US dollar in early trade on Tuesday, as persistent foreign fund outflows and a muted trend in domestic equities dented investor sentiments. Forex traders said all eyes are on the US as it decides its next President. Markets are bracing for potential volatility over the coming days, especially with the Federal Reserve's monetary policy announcement also scheduled this week. At the interbank foreign exchange, the rupee opened at 84.13 against the greenback, registering a fall of 2 paise over its previous close. On Monday, the rupee fell 4 paise to settle at a record low level of 84.11 against the US dollar. The rupee closed at an all-time low on Monday and opened at a new low of 84.13 as US elections rattled stock markets amid persistent foreign fund outflows, said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP. "The Reserve Bank of India (RBI) was present to absorb the fall

Rupee falls to new low on FPI selloff and rise in crude oil prices

Market participants said the Reserve Bank of India (RBI) intervened in the foreign exchange market via dollar sales to protect the rupee from further depreciation

Rupee opens on flat note, rises 1 paisa to 84.07 against US dollar in trade

The rupee opened on a flat note and rose 1 paisa to 84.07 against the US dollar in initial deals on Thursday, as strong dollar and persistent foreign fund outflows dented investor sentiments. Forex traders said the rupee remained range bound as month-end demand kept the US dollar well-bid. Moreover, a muted trend in domestic equities weighed on the local unit, while any intervention by the Reserve Bank of India (RBI) may support the local currency at lower levels, they said. At the interbank foreign exchange, the rupee opened at 84.08 against the greenback, it rose 1 paisa to 84.07 in initial trade. On Wednesday, the rupee depreciated 3 paise to close at 84.08 against US dollar. The local currency has been hovering around its all-time low level. Rupee touched its lowest closing level of 84.10 against the dollar on October 11. The rupee has been trading below the 84-level for the majority of October, but the recent pressure is primarily due to domestic factors, notably month-end d

Rupee depreciates 2 paise to 84.07 against US dollar in early trade

The rupee opened on a flat note and depreciated 2 paise to 84.07 against the US dollar in initial deals on Wednesday, weighed down by persistent foreign fund outflows and muted domestic equities. Forex traders said the strength of the American currency in overseas markets dented investor sentiments, while easing crude oil prices and any intervention by the Reserve Bank of India (RBI) may support the local currency at lower levels. At the interbank foreign exchange, the rupee opened at 84.06 against the greenback. In the initial trade, it touched 84.07, down 2 paise from its previous closing. On Tuesday, the rupee gained 2 paise to settle at 84.05 against the US dollar. The local currency has been hovering around its all-time low level. Rupee touched its lowest closing level of 84.10 against the dollar on October 11. According to traders, the rupee remains under intense pressure, mainly due to persistent foreign fund outflows. "The Indian rupee remains firmly range-bound, trading

Rupee opens on flat note at 84.08 against US dollar during early trade

The rupee opened on a flat note and depreciated 1 paisa to 84.08 against the US dollar in initial deals on Tuesday, as persistent foreign fund outflows and the strength of the American currency in the overseas market dented investor sentiments. Forex traders said a muted trend in domestic equities and strong dollar weighed on the local unit, while easing crude oil prices and any intervention by the Reserve Bank of India (RBI) may also support the local currency at lower levels. At the interbank foreign exchange, the rupee opened at 84.08 against the greenback. In the initial trade, it touched 84.07. On Monday, the rupee settled 1 paisa higher at 84.07 against the US dollar. The local currency touched its lowest closing level of 84.10 against the dollar on October 11. According to traders, the rupee remains under intense pressure, mainly due to persistent foreign fund outflows. "The Indian rupee remained in a range of 2 paise on Monday and is expected to remain in the same small r

Rupee holds steady as exporters delay dollar hedging amid volatility

Most exporters reckon that the risks that rupee will depreciate from here are much higher than it will appreciate, a forex salesperson at a mid-sized private