Wednesday’s 5 paise increase in the rupee against the US dollar to close at 83.32 (provisional) was aided by a bullish trend in local equities and steady intake of foreign funds. Forex dealers claimed that strong gains for the local currency were limited by the Reserve Bank of India (RBI) purchasing dollars and the increase…
For the second week in a row, foreign exchange reserves increased, reaching a nearly three-month high of $597.9 billion for the week ending November 24. In the week ending November 24, reserves increased by $2.5 billion, following a $5.1 billion increase in the week ending November 17. Both the appreciation or depreciation of foreign assets…
Following a downward trend in domestic equities, the rupee lost 2 paise and hit an all-time low of 83.36 against the US dollar in the morning session on Friday. The opening rate of the rupee versus the dollar at the interbank foreign exchange was 83.33. In the first trades, it fell 2 paise from its…
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…
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…
The Reserve Bank of India reported on Friday that for the week ending on October 27, India’s foreign exchange reserves climbed by USD 2.579 billion to USD 586.111 billion. Overall reserves fell by USD 2.363 billion to USD 583.532 billion in the preceding reporting week. The nation’s foreign exchange reserves peaked in October 2021 at…
Following the US dollar’s strength versus key international rivals and persistent outflows of foreign money, the rupee fell 9 paise to settle at an all-time low of 83.33 (provisional) against the US dollar on Wednesday. Furthermore, rising crude oil prices and a downward trend in US stocks combined with geopolitical unpredictability in the Middle East…
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…
Despite a number of events unfolding both domestically and globally over the past few weeks, the rupee has been trading in a limited range with little volatility. Due to a lack of domestic cues, active RBI intervention is keeping volatility in control, and it is anticipated that this will continue throughout the next several weeks…
