The rupee fell 21 paise to close as 81.38 (provisional) against the US dollar on Monday amid rise in crude prices. However, strong sentiment at domestic equities market and a weak dollar restricted the fall of the local currency, forex traders said. At the interbank foreign exchange market, the rupee opened stronger at 80.92 to a dollar against the previous close of 81.17. The local unit moved in a range of 81.47 to 80.93 during the day. On Friday, the rupee had appreciated by 19 paise to close at 81.17 against the US dollar. Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.35 per cent to 101.66 amid concerns over US economic growth. The Brent crude rose 0.26 per cent to USD 87.86 per barrel. On the domestic equity market front, the 30-share BSE Sensex rose by 319.90 points or 0.53 per cent to 60,941.67, while the broader NSE Nifty gained 90.90 points or 0.5 per cent to settle at 18,118.55. Foreign Institutional
The Indian rupee briefly rose against the dollar above a level that's being closely watched by traders, but was unable to pierce it convincingly
The RBI purchased US dollars worth $22.28 billion and sold US dollars worth $17.92 billion in November, data in the central bank's January 2023 Bulletin showed
In the previous session on Wednesday, the rupee had settled at 81.30 against the US dollar
The local currency on Tuesday climbed 0.6%, likely helped by dollar debt inflows, according to traders
The dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.45 per cent to 101.93
Brent crude futures, the global oil benchmark, advanced 0.65 per cent to $86.48 per barrel
FPI outflows, likely RBI dollar purchases weigh on domestic currency
Average dollar purchases by importers, beyond the spot date, rose to $1.64 bn last week from $1.14 bn the week before, latest data collated by The Clearing Corporation of India Ltd (CCIL) revealed
The rupee depreciated 31 paise to 81.89 against the US dollar in early trade on Tuesday weighed down by a rebound in American currency and firm crude oil prices. Sustained foreign fund outflows further dented investor sentiments, forex traders said. At the interbank foreign exchange, the domestic unit opened weak at 81.79 against the dollar, then fell to 81.89, registering a decline of 31 paise over its last close. In the previous session on Monday, the rupee settled at 81.58 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.18 per cent to 102.38. Brent crude futures, the global oil benchmark, advanced 0.19 per cent to USD 84.62 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 280.06 points or 0.47 per cent higher at 60,373.03. The broader NSE Nifty advanced 44.90 points or 0.25 per cent to 17,939.75. Foreign Institutional Investors (FIIs) were net sellers in the capi
The domestic currency finally settled at 81.59, down 21 paise over its previous close
The rupee gained 9 paise to 81.29 against the US dollar in early trade on Monday supported by broad dollar weakness and a firm trend in domestic equities. Forex traders said sustained foreign fund outflows weighed on investor sentiments and restricted the appreciation bias. At the interbank foreign exchange, the domestic unit opened at 81.29 against the dollar, registering a rise of 9 paise over its previous close. On Friday, it depreciated by 8 paise to close at 81.38 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.32 per cent to 101.87. Brent crude futures, the global oil benchmark, fell 0.53 per cent to USD 84.83 per barrel. According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the Indian rupee opened stronger on Monday, tracking a weak dollar and a possibility of smaller rate hike from the US Fed in February. Most of the Asian peers were stronger this morning, and stable
Hope of reduced Fed rate hikes, lack of RBI dollar buys drive rupee gains
The rupee depreciated by 4 paise to close at 81.34 (provisional) against the US dollar on Friday, tracking a rebound in crude oil prices and sustained foreign fund outflows. Forex traders said positive macroeconomic data and broad weakness in the American currency supported the rupee and contained the depreciation bias. At the interbank foreign exchange market, the rupee opened on a weak note at 81.32 against the greenback, but lost ground and fell to an intra-day low of 81.45. The domestic currency finally settled at 81.34, down 4 paise over its previous close of 81.30. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent lower at 102.18. Global oil benchmark Brent crude futures rose 0.42 per cent to USD 84.38 per barrel. According to Dilip Parmar, Research Analyst, HDFC Securities, the Indian rupee registered the biggest weekly gains after November 11 on the back of better-than-expected economic data and broad-bas
The Indian rupee rose against the dollar on Friday following another fall in the U.S. inflation rate, while forward premiums rose to their highest level in two months
The rupee was likely to be around 81.20-81.30 per dollar in early trades, compared to 81.55 in the previous session
On Wednesday, the rupee settled at 81.68 against the US dollar
The rupee gained 14 paise to 81.54 against the US dollar in early trade on Thursday supported by broad dollar weakness and a firm trend in domestic equities. Forex traders said sustained foreign fund outflows weighed on investor sentiments and restricted the appreciation bias. At the interbank foreign exchange, the domestic unit opened at 81.54 against the dollar, registering a rise of 14 paise over its previous close. In initial trade, the local unit also touched an early low of 81.66 against US dollar. On Wednesday, the rupee settled at 81.68 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.10 per cent to 103.08. Brent crude futures, the global oil benchmark, rose 0.06 per cent to USD 82.72 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 117.7 points or 0.20 per cent higher at 60,223.20. The broader NSE Nifty advanced 33.25 points or 0.19 per cent to 17,928.95. F
Reduced dollar demand from oil firms, lack of RBI dollar buys prop up rupee
At the interbank foreign exchange, the domestic unit opened at 81.73 against the dollar, then gained ground to touch 81.61, registering a rise of 13 paise over its previous close