In the midst of a strong U.S. dollar abroad on Thursday, the rupee gave up all of its early gains to end the day 10 paise worse at 81.84 (provisional). The robust sentiment on the domestic stock market, according to forex traders, limited the rupee’s decline. The local unit started out at the interbank foreign…
Following the weakness of the U.S. dollar in the international market, the rupee increased 21 paise to end the day at 81.74 (provisional) against the U.S. dollar. Forex traders claimed that the local currency was also supported by an upward trend in domestic equities. The local unit began trading at 82 against the U.S. dollar…
While Asian counterparts continued to decline, the Indian rupee finished Tuesday with little change as traders awaited new signals before placing significant wagers. As opposed to 81.9050 in the previous session, the rupee ended the day at 81.9125 to the dollar. Traders cited public sector bank-led dollar bids near 81.90-levels as the reason why additional…
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 Wednesday, the Indian rupee hit a more-than-two-week low versus the dollar as the dollar mounted a comeback due to stronger U.S. Treasury yields. The rupee reached its lowest level since April 3 at 82.2250 to the dollar at the close. The previous close for the currency was 82.04. Technically, 82.20 is a crucial level,…
The Indian rupee recorded the second weekly gain and best performance after the Chinese yuan due to foreign fund inflows, an increase in risk appetite as a result of foreign investors buying Adani group stock. Spot rupee increased by over one percentage point to close just above 82. The S&P 500 saw its first weekly…
On Friday, the Indian rupee made significant gains versus the US dollar, reaching a one-month high. The 82 mark was even removed by the currency! That might be the rupee’s greatest week in a month if the gains keep up. Positive Asian peers, a decline in the value of the dollar, and a substantial inflow…
The rupee gained 0.2% versus the dollar on Tuesday, finishing the day at 82.66. As a result, the value of the Indian rupee remains stable within a range of 82.40 and 83. Yet, the overall bias is still against the rupee due to a weak local market and risk aversion. The dollar has been strengthening…
The rupee has appreciated only 1.14 percent against the dollar since the US Fed raised rates by a quarter point on February 1 thanks in part to Central Bank of India’s intervention in the spot and non-deliverable forward (NDF) markets. Although the dollar index (DXY) increased 3.60% during that time, the currencies of emerging markets…
According to Ashutosh Tikekar, head of global markets at BNP Paribas India, the Indian rupee is anticipated to trade in a range of 81-84 against the US dollar in the upcoming quarter. The Reserve Bank of India (RBI) will continue to play a crucial role in controlling volatility. “In essence, the RBI has a significant…
