Amidst a recovery in the U.S. dollar and risk aversion in global markets, the rupee declined last week and reached a low of 82.32. While this was going on, a dramatic decline in the price of crude oil helped to limit declines in local currency. The dollar index recovered from its lows for the year…
On Thursday, as crude oil prices fell from high levels, the rupee strengthened 11 paise to settle at 82.14 (provisional). Forex traders claimed that the local currency was also supported by an upward trend in domestic equities. The local unit gained 11 paise from its previous close to close at the interbank foreign exchange market,…
On Monday, the rupee lost 25 paise to close at 82.10 (provisional) against the US dollar as investor sentiment was dampened by a strong US dollar abroad and a downward trend in domestic markets.Firm crude oil prices, according to forex traders, also weighed down the local currency. The domestic currency at the interbank foreign exchange…
On Friday, traders increased predictions of an impending halt to the U.S. Federal Reserve’s rate-hike cycle on signs of slowing inflation, sending the U.S. dollar plummeting to a one-year low versus a basket of currencies while the euro reached a one-year high. A day after inflation statistics indicated a moderating in consumer prices, data from…
The rupee increased 18 paise to 81.93 against the US dollar in early trade on Thursday, reflecting the American currency’s widespread weakness in the foreign exchange market. Forex brokers claimed that foreign funds were also supporting the local currency. The dollar index, which measures how strong the dollar is relative to a basket of six…
After a weakening U.S. dollar in the foreign exchange market, the rupee strengthened by 5 paise to end the day Monday at 81.97 (provisional). The local unit gained 5 paise from its previous finish to close at the interbank foreign exchange market, closing at 81.97 (provisional) versus the dollar after having opened at 81.90 against…
The RBI’s decision to maintain the crucial benchmark policy rate at 6.5 percent on Thursday caused the rupee to pare early losses and close 2 paise weaker at 81.92 (provisional) against the U.S. dollar. Forex traders claimed that after the Reserve Bank of India (RBI) stunned the market by halting the rate hike, the Indian…
Over the previous week, the rupee (INR) had no change. On Monday, it was valued at 82.3313 USD per unit. Good foreign inflows haven’t changed that. The net inflows during the previous week totaled more than $400 million, according to figures from the NSDL (National Securities Depository Ltd). This was aided by strong inflows into…
On Monday, the rupee lost 10 paise to settle at 82.31 (provisional) against the U.S. dollar as investor mood was dampened by the robust foreign exchange performance of the U.S. dollar and high crude oil prices. The rupee depreciated by 10 paise from its prior close of 82.21 to 82.31 (provisional) on the interbank foreign…
Tuesday, as the US dollar fell in the foreign exchange market, the rupee strengthened 15 paise to end the day at 82.16 (provisional). Global oil benchmark Brent crude futures decreased 0.42 percent to USD 77.79 per barrel. At the interbank foreign exchange market, the local unit started out at 82.20 against the dollar and ultimately…
