Forex traders said a positive trend in domestic equities and fresh foreign fund inflows also supported investor sentiments
Amid Adani crisis, uncertain US rate view, improving fundamentals to buttress rupee
The Reserve Bank on Friday updated its 'Alert List' for the public on unauthorised forex trading platforms to include names of entities/platforms/ websites which appear to be promoting such entities
Analysts say RBI sold dollars to protect rupee amid Adani crisis
Besides, sustained foreign fund outflows and elevated crude oil prices in the international market weighed on the domestic unit, forex traders said
The rupee pared initial losses and settled on a flat note at 82.54 (provisional) against the US dollar on Thursday, supported by a rebound in domestic equities.
The rupee depreciated 12 paise to 82.66 against the US dollar in early trade on Thursday, weighed down by sustained foreign fund outflows and a muted trend in domestic equities
The non-deliverable forwards indicated the rupee would open around 82.60-82.62 per dollar, compared with the 82.4925 closing in the previous session
The rupee appreciated 19 paise to close at 82.51 (provisional) against the US dollar on Wednesday after the Reserve Bank of India (RBI) hiked the repo rate by 25 basis points
The non-deliverable forwards indicate an opening of 82.68-82.74 for the rupee, compared with 82.70 in the previous session
Brent crude futures, the global oil benchmark, advanced 0.98 per cent to $81.78 per barrel
The non-deliverable forward suggests that the rupee will open at around 82.68-82.74, compared with 82.7250 in the previous session
Globally, investors fear that the US Fed will have to continue raising interest rates for longer than expected to cool labour markets and bring down inflation
The rupee depreciated 42 paise to 82.50 against the US dollar in early trade on Monday, weighed down by a strong American currency and a muted trend in domestic equities
India's foreign exchange reserves rose above a six-month high of $576.76 billion in the week through Jan. 27, the Reserve Bank of India's (RBI) statistical supplement showed on Friday
The non-deliverable forwards indicated an opening of around 82.12-82.20 for the rupee versus the dollar compared with 82.1725 in the previous session
Global oil benchmark Brent crude futures declined 0.14 per cent to $82.72 per barrel
Rupee likely to open higher after Fed rate hike, local equities in focus
After a series of jumbo rate hikes in 2022 to tame inflation, the market is all but certain of a 25 basis points (bps) increase in interest rates later on Wednesday
At the interbank foreign exchange, the domestic unit opened at 81.76 against the dollar, registering a rise of 12 paise over its previous close