Due to the dollar’s appreciation against other major currencies and persistent demand for the dollar from public sector banks acting on behalf of customers of oil marketing companies, the rupee (INR) fell on Tuesday, breaching the critical 82 level. The Indian rupee, which hit a two-week low, decreased 24 paise from the previous close of…
On Monday, the rupee lost some of its early gains and fell 2 paise to close at 81.80 (provisional) against the U.S. dollar, following a rise in crude oil prices. The gains from a weak American dollar and strong domestic equities were offset by a rise in crude oil prices, according to forex traders, who…
Following the weakness of the U.S. dollar in the international market, the rupee nudged up 2 paise to close at 81.78 (provisional) against the U.S. dollar on Thursday. Significant inflows of foreign capital, according to forex traders, as well as crude oil prices trading below USD 75 per barrel, strengthened the local currency. The local…
With a close of 81.88 against the dollar, the rupee was nearly unchanged on Tuesday. In line with our expectations, it so continues to trade between the important levels of 81.60 and 82.15. Nevertheless, the Indian rupee has been rising since March, and the trend is still upward. The increase was mostly caused by foreign…
In response to a strong U.S. dollar abroad, the rupee gave up all of its early gains and depreciated by 3 paise to close at 81.82 (provisional) on Friday. The declining inclination in the rupee was nonetheless restrained, according to forex traders, by the positive attitude on the domestic equity market. At the interbank foreign…
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…
Amidst a recovery in the U.S. dollar and risk aversion in global markets, the rupee declined last week and reached a low of 82.32. While this was going on, a dramatic decline in the price of crude oil helped to limit declines in local currency. The dollar index recovered from its lows for the year…
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,…
