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…
Early Friday trading saw the rupee jump 51 paise versus the US dollar to 86.17 amid a fall in oil prices, a weakening greenback, and a robust start to domestic share markets. The local unit increased one day after US President Donald Trump halted the further 26% tariffs on India until July 9. The local…
The rupee gained 34 paise to 84.96 against the US dollar in Friday morning trading. Emerging market currencies, including the rupee, benefited from the dollar’s widespread decline after Trump’s tariffs took effect. The decline in crude oil prices and the US dollar’s depreciation in foreign exchange markets are the main drivers of the rupee’s recovery….
The RBI reported on Friday that the nation’s foreign exchange reserves increased by USD 4.529 billion to USD 658.8 billion in the week ending March 21. The total reserves rose by USD 305 million to USD 654.271 billion over the previous reporting week. The kitty, which has been on a downward trajectory lately due to…
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 March 24, the RBI will unveil plans for a new liquidity increase, focusing on the banking industry and the rupee. Later this month, the RBI plans to hold a USD 10 billion/INR buy/sell swap auction to provide liquidity to the banking system. The RBI said in a news release that the swap auction for…
In early trading on Thursday, the rupee fell 22 paise to 87.41 against the US dollar as emerging currencies, particularly the rupee, were affected by the most recent US tariff measures. According to forex professionals, the recent US tariff pronouncements have rocked international markets and strengthened the currency. The rupee declined 22 paise from its…
In the afternoon of February 25, the rupee dropped 55 paise as the dollar gained strength due to safe-haven movements following US President Donald Trump’s announcement that tariffs on Canada and Mexico will proceed as planned. The rupee dropped from 86.85 to 87.25 due to changes in the RBI’s stance and month-end dollar demand over…
The range between the rupee’s starting and closing values has reduced to 5-7 paise in the past week due to the RBI’s action to stop the currency’s decline. Since December, there has been a gap between 10 and 20 paise. The intervention has resulted in consistent spot market sales of $1–2 billion per day, according…
Due to U.S. President Donald Trump’s implementation of fresh tariff measures, the Indian rupee fell to a new record low of 87.9563 against the US dollar on February 10. Compared to the previous trading session, when it opened at 87.4275 vs the US dollar, the local currency was significantly weaker at 87.9175. On February 9,…
