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The rupee saw a steep loss of 42 paise to settle at 91.50 (provisional) against the US dollar on Monday after US and Israeli attacks on Iran intensified worldwide risk aversion, setting crude oil prices on fire and demand for the American currency soaring.Massive selling in domestic equity markets and withdrawal of foreign funds further dragged the Indian currency down, forex traders said.At the interbank foreign exchange, the rupee opened at 91.23 and touched the intraday low of 91.65 against the greenback. The currency ended the session at 91.50 (provisional) against the dollar, registering a steep loss of 42 paise…
The rupee fell to its weakest in a month, while the cost of hedging against further depreciation against the dollar rose, as the escalating military conflict in the Middle East kept financial markets across the globe on edge.The Reserve Bank of India likely stepped into the market, traders said, while dollar sales by foreign banks also helped curb losses in the rupee, which fell 0.5% to close at 91.47 per dollar in its steepest drop in more than a month.Stocks in Asia and Europe retreated, with MSCI’s gauge of Asia-Pacific shares down over 1.5% and India’s benchmark Nifty 50 index…
The Indian rupee slid to its weakest level in a month and local stocks slumped on Monday as the Iran war hurt risk assets and lifted oil prices, compounding worries for India which relies on the Middle East for a substantial part of its energy imports. The rupee fell 0.3% to 91.2350, its weakest level since early February, while benchmark stock indexes Nifty 50 and BSE Sensex were down about 1% each. The U.S. and Israel launched strikes on Iran over the weekend. The military action resulted in the death of Iran’s Supreme Leader and sparked a wave of retaliation…
India’s foreign exchange reserves dipped by $2.119 billion in the week that ended February 20 to $723.608 billion, after having reached a new all-time high recently, according to the Reserve Bank of India’s latest data.Foreign exchange reserves dipped in the latest week, driven by a drop in gold reserves and foreign currency assets. Over the past few weeks, the forex kitty has been largely in an uptrend. Foreign exchange reserves touch record high of $725.727 billion in February.For the reported week (that ended February 20), India’s foreign currency assets (FCA), the largest component of foreign exchange reserves, stood at $572.564…
The rupee declined 8 paise to settle at 90.99 (provisional) against the US dollar on Friday weighed down by a sharp rise in global crude oil prices amid geopolitical uncertainties.FII outflows and a fall in the domestic equity markets further pressured the local unit, according to forex traders.At the interbank foreign exchange, the rupee opened at 90.91 and moved in a narrow range of 90.91-91.06 before settling at 90.99 (provisional), down 8 paise from its previous close.The rupee settled on a flat note at 90.91 against the US dollar on Thursday.”We expect the rupee to trade with a negative bias…
The Indian rupee strengthened in February to log its first monthly rise since April 2025 as a pick-up in foreign portfolio inflows and the announcement of a U.S. trade deal eased pressure on the emerging market laggard.The currency strengthened about 1% in February, recovering from a struggle near record low levels at the end of last month after the U.S. and India announced a long-awaited trade deal.The boost proved short-lived, though, as the U.S. Supreme Court order to strike down President Trump’s signature global tariffs and jitters about how artificial intelligence may impact India’s IT sector rocked sentiment.IT shares logged…
Commerzbank’s Antje Praefcke argues that renewed tariff uncertainty under the US president is eroding long‑term confidence in the Dollar, even as upcoming US data such as ISM, ADP and NFP loom. She warns that doubts about US trade policy, fiscal balances and future Federal Reserve independence could mean stronger US growth no longer translates into sustained Dollar support.Tariffs, Fed doubts and Dollar support”With each step of reduced confidence in a stable, long-term economic and trade policy (I am leaving geopolitics out of the equation for now, but it is ultimately also part of it), I think the US president is…
The rupee fell 4 paise to 90.95 against the US dollar in early trade on Friday, weighed down by FII outflows and a fall in the domestic equity markets in morning session.However, a weaker greenback and a dip in global crude oil prices prevented sharper decline in the local unit, forex traders said.At the interbank foreign exchange, the rupee opened at 90.91 against the US dollar before slipping to 90.95, down 4 paise from its previous close.The rupee settled on a flat note at 90.91 against the US dollar on Thursday.”Despite FPIs selling dollars there was good dollar buying yesterday…
The AUD/USD pair attracts fresh buyers following the previous day’s modest pullback and holds steady above the 0.7100 mark through the Asian session on Friday. Spot prices seem poised to register gains for the sixth straight week and remain within striking distance of a three-year peak, touched earlier this month.The AUD/USD pair holds above the rising 100-period Exponential Moving Average (EMA) on the 4-hour chart, keeping the recent series of higher lows intact on the back of the Reserve Bank of Australia’s (RBA) hawkish stance. Adding to this, the Relative Strength Index at 58 stays above its midline, signalling firm…
China’s central bank has stepped in to temper the rapid rise of the yuan, announcing that it will scrap foreign exchange risk reserve requirements for certain forward contracts, a move seen as encouraging dollar buying and cooling the currency’s recent surge.The decision follows a sharp rally in the yuan, which climbed to a near three-year high against the U.S. dollar in onshore trading on Thursday. The appreciation has been driven in part by exporters rushing to convert dollar holdings after China posted a record trade surplus last year. Following the announcement, the offshore yuan weakened by around 0.2%, according to…