The Indian Rupee has been on a climb since last Thursday against the U.S. dollar. On Tuesday, the domestic currency gained 0.4 percent to close at 78.72. Thus, the year to date loss of INR versus USD is now down to 5.9 percent. The gain was largely due to the weakness in the dollar over…
The Rupee (INR), which has been one of the weakest Asian currencies in the past one month, remained stable against the dollar (USD) over the past week and has been gradually appreciating over the past few sessions. The currency market participants seem to be waiting for the announcements from the U.S. Federal Reserve which can…
The Indian rupee touched a new record low mark of 80 against the U.S. dollar today. Sentiment has been hit hard for the rupee as an unusual surge in U.S. inflation secured expectations that the Federal Reserve would hike policy rates by a record margin later this month and make the dollar the highest returning…
The Indian rupee (INR) decreased further on Tuesday against the U.S. dollar and hit a new low of 79.66 before closing the day at 79.60. The Indian rupee has lost a little over 7% for the year. On the one hand, the rising dollar is weighing on the rupee, and on the other, the continuous…
The Indian rupee hits a fresh record low against the U.S. dollar on July 11 amid weakness in the domestic stock market and as concerns about global economic growth continued to support the safe-haven greenback. The partially convertible rupee was trading at 79.41 per dollar compared to its previous close of 79.25 on Friday. The unit had hit…
The rupee depreciated 9 paise to 79.03 against the U.S. dollar in opening trade today, as consistent foreign funds outflows weighed on investor sentiments. Forex traders said the weakness of crude oil prices is supporting the local unit. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was at…
The rupee depreciated 22 paise to a record low of 78.59 against the U.S. dollar in early trade on Tuesday as continuing foreign funds outflows weighed on investor sentiments. At the interbank foreign exchange, the rupee opened on a weak note at 78.53 against the American dollar, then lost ground to quote at 78.59 its…
The rupee increased by 12 paise to 77.93 against the U.S. dollar in opening trade on Monday as soften crude oil prices supported the local unit. However, unabated foreign fund outflows, a dull trend in domestic equities and strong American dollar overseas restricted the gain, forex dealers said. At the inter-bank foreign exchange, the rupee…
The rupee closed at a fresh all time low of 78.065 against U.S. dollar on Wednesday due to demand for the greenback from foreign portfolio investors, who continued to expatriate the proceeds from the sale of their Indian equity investments. Oil marketing companies also bought dollars. The Reserve Bank of India (RBI) is believed to…
Indian rupee weakened to a fresh all-time low against U.S. dollar ahead of the release of U.S. inflation data, which is seen influencing the pace of future rate hikes by the Federal Reserve. Constantly raised crude oil prices also hurt sentiment for the domestic currency, with market participants fearing a fresh time of FII outflows,…
