The Indian rupee lost around 9 paise to the US dollar on Wednesday, closing at 89.96. After opening at a low of 90.03, the currency experienced a slight rebound by the afternoon, reaching 89.88, and then increased slightly, closing at 89.87 against the US dollar. But compared to yesterday’s close of 89.87, today’s end was…
In order to strengthen the banking system, the Reserve Bank of India (RBI) recently announced a number of liquidity initiatives, including bond purchases through open market operations (OMO) and foreign exchange swaps. According to market players, the central bank frontloaded the measures in December, probably taking into account significant withdrawals throughout the month. The majority…
The Indian rupee extended its losing trend, following cues from the equity market. At 90.07, it finished the day down 0.1%. The currency fell 0.2% from its opening level of 90.06 to 90.17 against the US dollar. The US Federal Reserve’s impending policy decision on Wednesday, which is expected to impact the currency’s future course,…
The Reserve Bank of India unveiled a liquidity-boosting package that comprises a three-year USD/INR buy-sell swap and Rs 1 lakh crore in government bond OMO purchases, along with a unanimous 25 basis point repo rate drop to 5.25 percent. Governor Sanjay Malhotra stated that the central bank is still dedicated to supplying enough long-term liquidity,…
Indian rupee closed at a historic low of 89.87 versus the US dollar, continuing its losing trend. The stalled India–US trade pact and continued FPI outflows from equities have added to the negative pressure on the currency. The rupee plummeted for the fifth straight day, setting a fresh low of 89.95 per dollar, down 0.45%…
In early trading on Wednesday, the rupee recovered its early losses and gained 2 paise to 89.20 against the US dollar, following a weak US dollar and positive sentiment in the domestic share market. Forex traders claim that, despite the Indian currency being under pressure due to increased crude oil prices, there was a foreign…
Due to bank sales of US dollars and a decline in the price of crude oil globally, the rupee recovered from record lows on Monday, rising 49 paise to 89.17 against the US dollar in early trading. Forex traders claim that the Reserve Bank of India’s (RBI) involvement and a favorable opening in the domestic…
Due to declining risk appetite, dwindling hopes for a Federal Reserve rate decrease, and uncertainty around a US-India trade agreement, the Indian rupee fell to a record low against the dollar on Friday. The rupee fell from its previous all-time low of 88.80, which was reached in late September and earlier this month, to 89.48….
Due to high crude oil prices and withdrawals of foreign funds, the rupee fell 15 paise to 88.65 against the dollar in early trading on Wednesday. Forex traders reported that the domestic unit was supported at lower levels by renewed confidence for the trade agreement between the US and India. The rupee began trading at…
Due to a sharp increase in the cost of the US H-1B visa, which is predicted to have a significant negative impact on Indian IT services exports, the rupee fell 47 paise to reach an all-time low of 88.75 (provisional) against the US dollar on Tuesday. Forex dealers reported that as market participants examined the…
