Page 4 - Indian Rupee

Rupee appreciates 19 paise to end at 82.51 against US dollar

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. A rally in the domestic equity markets and weakness in the greenback against major crosses overseas also supported the rupee, forex traders said. However, surging crude prices in the international market and persistent foreign fund outflows restricted the appreciation bias in the local unit, they added. At the interbank foreign exchange market, the local unit opened strong at 82.67 and touched an intra-day high of 82.47 and a low of 82.72 against the greenback. It finally settled at 82.51, up 19 paise over its previous close of 82.70. The Reserve Bank of India slowed the pace of interest rate increases for the second straight time when it on Wednesday expectedly increased borrowing cost by 25 basis points but hinted more to come as core inflation remained high. The central bank projected India's economic gr

Rupee set for muted open; US yields soar, 82.90 per dollar level in focus

The non-deliverable forward suggests that the rupee will open at around 82.68-82.74, compared with 82.7250 in the previous session

Novatek in talks with Indian firms on LNG, may consider payment in rupees

Russia supplied Europe with some 17 million tonnes of LNG last year, up about 20% from 2021 volumes, Refinitiv Eikon data showed on Tuesday

Rupee falls 1% as robust US jobs data stokes Fed rate hike fears

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

Rupee falls 42 paise to 82.50 to the dollar on back of domestic equities

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. Sustained foreign fund outflows and firm crude oil prices further dented investor sentiments, forex traders said. At the interbank foreign exchange, the domestic unit opened weak at 82.35 against the dollar, then fell to 82.50, registering a decline of 42 paise over its last close. In the previous session on Friday, the rupee settled at 82.08 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.17 per cent to 103.09. Brent crude futures, the global oil benchmark, advanced 0.25 per cent to USD 80.14 per barrel. The rupee started this Monday on a weaker note against the dollar after a better-than-expected US jobs report prompted investors to bet on more Federal Reserve rate increases, said Sriram Iyer, Senior Research Analyst at Relian

Rupee gains 12 paise to 82.08 against US dollar on easing crude oil prices

The rupee gained 12 paise to 82.08 against the US dollar in early trade on Friday supported by easing crude oil prices and a positive trend in domestic equities. Forex traders said significant foreign fund outflows and dollar demand from importers may weigh on the local unit and restrict the appreciating bias. At the interbank foreign exchange, the domestic unit opened at 82.15 against the dollar, then gained ground and touched 82.08, registering a rise of 12 paise over its previous close. In initial trade, the rupee also touched a low of 82.22 against American currency. On Thursday, the rupee fell 40 paise to close below the 82 per US dollar mark. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.09 per cent to 101.84. Brent crude futures, the global oil benchmark, declined 0.10 per cent to USD 82.09 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 348.05 points or 0.58 per cent higher at

Rupee poised for muted opening on dollar recovery, equity outflows

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

Rupee closes at 82.20 against US dollar amid foreign fund outflows

The rupee fell 40 paise to close below the 82 per US dollar mark on Thursday, weighed down by foreign fund outflows and corporate dollar demand. At the interbank foreign exchange market, the rupee opened at 81.81 against the greenback, and touched an intra-day high of 81.71 and a low of 82.20. It finally settled at 82.20 (provisional), down 40 paise over its previous close. On Wednesday, the rupee had appreciated 8 paise to close at 81.80 against the dollar after Finance Minister Nirmala Sitharaman presented the Union Budget for 2023-24. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.12 per cent lower at 101.10, after the US Fed hiked the interest rate along expected lines by 25 basis points to 4.50-4.75 per cent. Global oil benchmark Brent crude futures declined 0.14 per cent to USD 82.72 per barrel. "The Indian rupee became the worst performer among Asian currencies amid foreign fund outflows and corporate dollar demand

Budget 2023-24: Where does the rupee come from, and where does it go?

Budget 2023: The largest share of the Centre's expenditure goes towards paying the interest on borrowings

Rupee poised to inch up on fall in US yields; budget, Fed outcome eyed

The rupee is expected at around 81.75-81.80 per U.S. dollar at open, compared with 81.92 in the previous session

Rupee depreciates by 41 paise to close at 81.93 against US dollar

The rupee depreciated by 41 paise to close at 81.93 (provisional) against the US dollar on Tuesday after the Economic Survey 2022-23 said the domestic unit may remain under pressure on account of plateauing of exports and subsequent widening of current account deficit. Forex traders said significant foreign fund outflows and a muted trend in domestic equities also dented investor sentiment. At the interbank foreign exchange, the domestic unit opened weak at 81.61 against the dollar, and lost further ground to fall below the 82 per US dollar level. The rupee finally ended at 81.93, registering a decline of 41 paise over its last close. During the session, the local unit witnessed an intra-day high of 81.58 and a low of 82.07 against the US dollar. In the previous session on Monday, the rupee settled at 81.52 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.15 per cent to 102.43. Brent cr

Rupee may remain under depreciation pressure, says Economic Survey

The Indian rupee may remain under depreciation pressure on account of plateauing of exports and subsequent widening of the current account deficit, said the Economic Survey 2022-23 tabled in Parliament on Tuesday. It said the "risks to the current account balance stem from multiple sources". The country's current account deficit (CAD) widened to 4.4 per cent of the GDP in the quarter ended September from 2.2 per cent in April-June due to higher trade gap, as per latest data of the Reserve Bank of India. In the opening trade on Tuesday, the rupee depreciated 12 paise to 81.64 against the US dollar, weighed down by significant foreign fund outflows and a muted trend in domestic equities. Amid geopolitical situation and tightening of monetary policy by the US Fed, the Indian rupee has remained under pressure and even breached the 83-mark to a US dollar. According to the survey, while commodity prices have retreated from record highs, they are still above the "pre-conflict" ...

Rupee falls 12 paise to 81.64 against dollar on foreign fund outflows

The rupee depreciated 12 paise to 81.64 against the US dollar in early trade on Tuesday, weighed down by significant foreign fund outflows and a muted trend in domestic equities. At the interbank foreign exchange, the domestic unit opened weak at 81.61 against the dollar, then lost ground and fell to 81.64, registering a decline of 12 paise over its last close. In the previous session on Monday, the rupee settled at 81.52 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04 per cent to 102.23. Brent crude futures, the global oil benchmark, advanced 0.02 per cent to USD 84.92 per barrel. Forex traders said the rupee is likely to witness range-bound trading as investors brace for interest rate decisions from the Federal Reserve, and the Union Budget for 2023-24, both scheduled to be announced on Wednesday. Meanwhile, the Budget session of Parliament kicks off on Tuesday. The session will comm

Economic survey likely to peg 2023-24 growth at slowest in 3-yrs: Report

According to the report, the survey will likely caution that pressure on the rupee could continue due to the tightening of monetary policy

Top headlines: Adani counters Hindenburg charges, rupee undervalued by 40%

Business Standard brings you the top headlines at this hour

Burgeronomics: Big Mac index suggests rupee is undervalued by over 40%

A burger in India costs considerably less than peer economies

Rupee closes at 81.53 against US dollar amid heavy selling pressure

The rupee appreciated 8 paise to close at 81.53 (provisional) against the US dollar on Friday amid a firm American currency against major rivals overseas. However, heavy selling pressure in the domestic equity markets and unabated foreign fund outflows restricted the gains in the local currency, forex traders said. At the interbank foreign exchange market, the rupee opened stronger at 81.51 to a dollar. The local unit moved in the range of 81.50 to 81.67 during the day. It finally settled at 81.53, a rise of 8 paise against the previous close of 81.61. On Wednesday, the rupee had slipped 2 paise against the US dollar. The currency markets were closed on Thursday on account of Republic Day. Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.02 per cent to 101.82 after positive macroeconomic data released by the US government on Thursday. Brent crude was trading 1.19 per cent higher at USD 88.51 per barrel. On the dome

Rupee gains 20 paise to 81.50 against US currency in morning trade

The rupee rose by 20 paise to 81.50 against the US currency in morning trade on Wednesday following a weak dollar in the global markets. Early losses in domestic stock markets and a rebound in oil prices, however, restricted the rupee's gains. At the interbank foreign exchange, the rupee opened higher at 81.62 and rose further to a high of 81.49 in morning trade. The rupee was trading at 81.50 to a dollar at 0950 hrs. The local currency had closed lower at 81.70 on Tuesday. The US dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.04 per cent to 101.88. The Brent crude was trading 0.43 per cent lower at USD 86.48 per barrel while the oil for the Indian basket traded down 2.69 per cent at USD 79.98 per barrel. On the domestic equity market front, the 30-share BSE Sensex declined by 268 points or 0.44 per cent to 60,709.93. The broader NSE Nifty declined by 90.25 points or 0.5 per cent to 18,028.05. Foreign Institutional Investors (FI

Rupee sheds 33 paise on persistent dollar purchases by oil companies

So far this week, the domestic currency has shed 0.7% against the greenback, making it among the weakest performing Asian units over the past few days

After breaching 81 vs USD, rupee weakens as importers purchase greenback

The domestic currency closed at 81.39 per dollar on Monday, against 81.13 per dollar on Friday