Page 30 - Indian Rupee

Rupee falls 16 paise to record low of 77.60 against the US Dollar

The rupee on Wednesday declined by 16 paise to close at its fresh lifetime low of 77.60 against the US dollar amid unabated foreign fund outflows and a stronger greenback in overseas markets. At the interbank foreign exchange market, the rupee opened lower at 77.57 and later hit the day's low of 77.61 as the dollar rebounded in global markets following hawkish comments from US Federal Reserve chief Jerome Powell. Crude oil prices also surged over 1 per cent, which weighed on the rupee. The local unit finally ended at its all-time low of 77.60, showing a loss of 16 paise over its previous close of 77.44. "The dollar index took support near 103.50 and the capital market witnessed profit booking from higher levels, sending rupee into weakness," said Jateen Trivedi, VP Research Analyst at LKP Securities. The US Fed chief asserted that the central bank would increase interest rates as high as needed to contain a spike in inflation which threatens the foundation of the economy. The dol

Rupee slips 6 paise to 77.50 against US dollar in opening trade

The rupee depreciated 6 paise to 77.50 against the US dollar in the opening trade on Wednesday as persistent foreign fund outflows weighed on investor sentiment.

Top headlines: Weakening rupee, LIC may exit Ambuja Cements, ACC and more

Business Standard brings you top headlines on Wednesday

A weak rupee spells more trouble for consumer durables companies

The first of a four-part series looks at its impact on consumer durables

RBI's multiple battles

It should not defend currency to contain inflation

RBI turns net seller of US currency in March to defend rupee; sells $20 bn

Reserve Bank of India turned net seller of the US currency in March after it sold $ 20.101 billion on a net basis in the spot market, according to RBI's monthly bulletin for May 2022.

Rupee recovers from record low, ends 7 paise higher at 77.47 to a dollar

The rupee on Tuesday recovered from its all-time intra day low of 77.79 to close higher by 7 paise on a stellar rally in domestic stock markets.

Indian rupee off record lows on RBI intervention; bond yields rise

The partially convertible rupee was trading at 77.63/64 per dollar by 0805 GMT compared with its close of 77.45 on Friday. The rupee touched a record low of 77.7975 during the session.

Govt must cut import duty rates to combat inflation

Our government need not merely wait for the global commodity prices to drop but take active measures to supplement the actions of the monetary authorities

Weak rupee to make imports costly for metal firms, exports may get a push

According to CRISIL Research, India imported close to 57-59 million tonnes of coking coal - a key input for steelmaking - worth Rs 1 trillion in fiscal 2022

Rupee rebounds from all-time low; rises 19 paise to 77.31 against US dollar

At the interbank foreign exchange, the rupee opened at 77.35 against the American dollar, then gained further ground to quote at 77.31, registering a rise of 19 paise from the last close

Rupee at all-time low of 77.5 as high inflation triggers rate hike fears

The rupee plunged by 25 paise to close at its lifetime low of 77.50 as the dollar touched a fresh two-decade high amid global risk-averse sentiment and a higher-than-expected US inflation

Rupee recovers 12 paise, ends at 77.32 to the dollar as crude prices fall

Snapping its two-day losing streak, the rupee appreciated 12 paise to end at 77.32 (provisional) against the US dollar, supported by a rebound in regional currencies and fall in crude oil prices

Rupee reaches all-time low of 77.42 per dollar amid rising crude oil prices

The hawkish stance of the US Federal Reserve has resulted in the hardening of the US bond yields with the dollar index strengthened to 20 year high

Rupee hits all-time low; foreign exchange reserves below $600 billion

Double-digit BoP deficit seen in FY23, says Standard Chartered

Rupee weakens against US dollar in early trade, falls 38 paise to 76.73/$

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.13 per cent lower at 103.61

Rupee surges 29 paise to 76.11 against US dollar in early trade

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03 per cent lower at 102.55.

Rupee surges 8 paise to 76.40 against US dollar in early trade

The forex market was closed on Tuesday on account of Id-Ul-Fitr.

Rupee ends flat against US dollar amid forex outflows, oil prices decline

The rupee pared initial gains to settle almost flat against the US dollar on Monday as subdued domestic equities offset the impact of a sharp decline in global crude oil prices. A strengthening American currency overseas and continuous foreign fund outflows also weighed on the domestic unit, forex traders said. At the interbank foreign exchange market, the rupee opened slightly higher at 76.48 against the American dollar and gained further ground to trade at 76.35. It oscillated between a high of 76.35 and a low of 76.51 during the session. The rupee finally settled at 76.51 against the dollar, showing a marginal fall of 1 paisa. Brent crude futures, the global oil benchmark, declined 2.61 per cent to USD 104.34 per barrel. On the domestic equity market front, the 30-share BSE Sensex ended 84.88 points or 0.15 per cent lower at 56,975.99, while the broader NSE Nifty fell 33.45 points or 0.20 per cent to 17,069.10. Meanwhile, the dollar index, which gauges the greenback's strength

Rupee surges by 18 paise to close at 76.43 against US dollar

At the interbank forex market, the domestic unit opened at 76.62 against the US dollar