The Indian rupee closes at 90.19 versus the US dollar, down 0.36% from the previous close, setting yet another record low. The currency has declined by over 5% on a cumulative basis this year against the greenback. A stalled trade agreement between the US and India, persistent equity sales by foreign portfolio investors, and a…
Despite the staggering GDP figure, the Indian rupee fell to new lows. The solid Q2 GDP report was overshadowed by FII outflows and uncertainties around the US-India trade pact, which kept the rupee trading well below the 89.50/$ barrier. The currency fell significantly from its November low of 89.49/$. Despite the spectacular Q2 GDP numbers,…
The presence of state-run banks curbed weakening in the local currency. Still, consistent interbank dollar bids dampened positive signals from increased risk appetite worldwide, causing the Indian rupee to move in a narrow band on Monday. The rupee was almost steady from its finish of 88.66 in the previous session, closing at 88.6750 against the…
Traders indicated that the RBI is believed to have sold between $3 billion and $5 billion in both spot and non-deliverable forward markets on Wednesday to support the rupee, marking its most extensive intervention in several months. Estimates were provided by seven traders from various private, public, and foreign banks, with two of them citing…
As foreign portfolio inflows into Indian stocks increased and the dollar continued to be defensive due to worries about the impact of tariffs on the largest economy in the world, the Indian rupee strengthened on Thursday to record its best weekly performance in a month. The rupee climbed from its previous session’s close of 85.6775…
Strong inflows of foreign funds helped the rupee rise 33 paise to 85.4625 vs. the US dollar on Friday, its highest level in three months. In addition, the domestic currency saw its largest monthly increase in more than six years in March, rising 2.17%, the most since November 2018. During the week, foreign portfolio investors…
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…
The rupee fell 13 paise versus the dollar to 86.46 on Thursday, according to currency traders, due to a drop in the majority of regional currencies and demand for dollars from overseas banks. Experts predict that the currency’s decline will continue, but at a slower rate now that the pessimistic outlook around the rupee has…
As the dollar is expected to strengthen in the upcoming months due to Donald Trump’s election, the rupee fell to a record low on Thursday. The rupee fell to 84.2950, inching past the previous all-time low of 84.28, which was reached on Wednesday. Analysts predicted that the fear of tariffs would weaken the euro and…
The rupee held below the $84 level on Friday, following a two-month low on Thursday, as the Reserve Bank of India (RBI) increased its intervention in the foreign exchange market to halt the depreciation. After closing nearly unchanged against the dollar on Thursday at 83.9750, the rupee fell to 83.9688 on Friday. Market players think…
