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…
During the week ending August 16, the Indian rupee saw little change, finishing at 83.95 with little variation. There was modest support for the rupee due to the US recession fears abating, carry trade unwinding slowing down, and oil prices easing. Pressure was applied, though, in part because of a larger trade imbalance in July…
The Reserve Bank of India (RBI) reported that for the week ending May 17, forex reserves increased by $4.5 billion to an all-time high of $648.7 billion. The week ending May 17 saw an increase in the rupee of 17 paise, or 0.20%. The entire Forex kitty has increased for the past three weeks running….
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…
Following continuous inflows of foreign funds and a record-breaking run in domestic stocks, the rupee gained 29 paise to settle at 83.01 (provisional) against the US dollar on Friday. With the benchmark BSE Sensex surpassing the new milestone of 71,000, the stock markets maintained their historic run. Forex dealers reported that strong purchases by overseas…
