After ending at 83.91 on August 26 instead of 83.95 roughly a week earlier, the Indian rupee has somewhat appreciated over the previous trading days. Though importers’ dollar demand and foreign portfolio withdrawals from Indian equities (totaling USD 1.5 billion as of August 26) have restricted the rupee’s gains, the currency is seeing some support…
In early trading on Wednesday, the rupee was moving in a limited range vs the US dollar, with local equities showing little movement. Because of the ongoing withdrawals of foreign funds, forex traders reported that investor mood was negatively impacted by the rupee’s narrow trading range. The local currency’s value versus the dollar at the…
In early trade on Wednesday, the US dollar dropped from its high levels after US inflation data came in lower than anticipated, giving the rupee a 32-paise boost to 83.01 against it. The US dollar declined after US inflation slipped to its lowest level since September 2021, according to forex traders, and the rupee began…
Amidst persistent outflows of foreign funds and a downward trend in domestic stocks, the rupee remained range-bound and ended the day 1 paisa higher at 83.29 vs the US dollar on Thursday. The rupee began trading at 83.25 versus the US dollar at the interbank foreign exchange and ended at 83.29, up 1 paisa from…
The rupee gave up its early gains and ended the day two paise weaker against the US dollar at 83.22 (provisional), as rising crude oil prices offset the support from strong domestic equities. According to forex dealers, a rising trend in domestic stocks limited the downside and maintained the local currency at lower levels. The…
A weak US dollar abroad and encouraging signals from the home equities markets helped the rupee break its three-day losing streak, allowing it to recover 2 paise to 83.23 versus the US dollar in early trade on Friday. Foreign equities investors’ selling pressure along with an increasing trend in crude oil prices was stated by…
As a result of a strong US dollar and unfavorable attitude in the equities market, the rupee fell for the third straight day, losing 6 paise to 83.23 against the US dollar in early trade on Thursday. Despite the fact that crude oil prices were hovering around USD 90 per barrel due to geopolitical tensions…
Earlier in the month, the rupee weakened and fell to an all-time low after data showed the trade deficit widened to a 10-month high of $24.2 billion in August from $20.7 billion the previous month. At the end of the week, JP Morgan announced the inclusion of India in its emerging market index. The Index…
In the opening hours of trading on Friday, the rupee strengthened by 38 paisa to 82.75 against the US dollar as investors’ confidence increased as a result of India’s inclusion in the JPMorgan bond index. Forex dealers predicted that JPMorgan Chase & Co.’s move to incorporate Indian government bonds in its benchmark emerging-market index would…
In response to statements of intervention by the central bank and inflows of foreign capital, the rupee defied a four-week downturn by rising by more than half a percentage point. However, in light of rising food prices and unequal rainfall distribution that call for vigilant monitoring, the RBI’s minutes sounded hawkish. While local benchmark indices…
