Currency experts noted that on the afternoon of May 8, when tensions between India and Pakistan increased, the Indian rupee sank past the 85-mark. At the close of business, the local currency was trading at 85.3850 against the US dollar, down from 84.6387 at the open and 84.8325 at the close of business. Following rumors…
The rupee is doing well. The currency has broken over the psychologically significant 84/$ levels and is up almost 1% daily. These levels were last observed in June 2024. With Donald Trump’s victory in the November 2024 US presidential election, the currency has now erased all losses. Strong dollar inflows and short-covering are being cited…
Early Friday trading saw the rupee jump 51 paise versus the US dollar to 86.17 amid a fall in oil prices, a weakening greenback, and a robust start to domestic share markets. The local unit increased one day after US President Donald Trump halted the further 26% tariffs on India until July 9. The local…
The rupee gained 34 paise to 84.96 against the US dollar in Friday morning trading. Emerging market currencies, including the rupee, benefited from the dollar’s widespread decline after Trump’s tariffs took effect. The decline in crude oil prices and the US dollar’s depreciation in foreign exchange markets are the main drivers of the rupee’s recovery….
The much-needed support was given by robust domestic inflows, which caused the rupee to climb 12 paise to 85.86 against the US dollar in early trading on Monday. But, according to currency dealers, the local unit still faces difficulties due to hidden risks, which might range from crude oil prices to supply shortages. The rupee…
Tuesday saw the Indian rupee gain strength due to a surge in Asian currencies and probable central bank assistance, while the dollar fell to its lowest level since November versus major rivals. The rupee was up 0.1% for the day, closing at 87.2125 versus the US dollar. Due to pressure from dollar bids sparked by…
The range between the rupee’s starting and closing values has reduced to 5-7 paise in the past week due to the RBI’s action to stop the currency’s decline. Since December, there has been a gap between 10 and 20 paise. The intervention has resulted in consistent spot market sales of $1–2 billion per day, according…
On February 5, the Indian rupee began five paise down against the US dollar at 87.1263, according to currency experts, as Asian stocks were poor. The local currency’s opening value against the US dollar was 87.1263, while its closing value against the US dollar was 87.0762. Due to growing trade concerns between the two biggest…
August saw a minor decline in the value of the Indian rupee of 0.3% versus the US dollar, with August 12 marking a new record low of 83.98. In comparison, during the same period, the majority of other Asian currencies have appreciated in value relative to the US dollar. Notably, thus far this month, the…
The simmering geopolitical concerns in West Asia and the hardening of US Treasury yields caused the rupee to fall to an all-time closing low of 83.54 against the dollar on Tuesday. During intraday trading, the local currency fell to a record low of 83.56, but the Reserve Bank of India (RBI) probably intervened to stop…
