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The Indian rupee closed marginally higher on Wednesday following a choppy trading session, influenced by maturity of positions in the non-deliverable forwards market, exporter activity, and mild dollar sales from foreign banks. The rupee ended at 85.7050 against the U.S. dollar, slightly higher from its previous close at 85.7550. The local currency hovered between 85.89 and 85.6850 through the session. Asian currencies were mixed while the dollar index was little changed at 104.2, with the focus turning to the upcoming announcement of reciprocal U.S. tariffs on April 2.Near-constant shifts in U.S. tariff policies have left traders unsure of how the…

The Reserve Bank of India (RBI) conducted its fifth open market operation (OMO) purchase and accepted Rs 44,541 crore of bids, lower than the notified amount of Rs 50,000 crores.This round of auctions, however, received bids worth Rs 67,540 crore.This is the only OMO auction, in the current liquidity-enhancement drive, where the RBI has accepted bids lower than the notified amount.The central bank has been conducting operations to inject durable liquidity into the banking system, which has been in deficit since mid-December. The daily average liquidity deficit in March stood at Rs 1.62 lakh crore.Economists expect liquidity to ease after…

The Indian rupee closed lower to halt a nine-day winning run on Tuesday as importers stepped in to hedge liabilities at favourable levels, dollar inflows moderated and the local currency’s regional peers slipped. The rupee ended at 85.7550 against the U.S. dollar, down 0.14% on the day. It had risen to a year-to-date peak of 85.49 on Monday and is up about 2% on the month so far. Intermittent inflows from overseas portfolio investors and the repatriation of corporate dollar-based earnings ahead of the fiscal year ending March 31 have helped the rupee outpace its Asian peers this month.The recent…

The Reserve Bank of India’s $10 billion dollar rupee buy-sell swap saw bids more than double the notified amount and a higher-than-expected premium. The swap auction saw bids worth $22.3 billion, while the average premium of accepted bids was at 592 paisa, higher than market expectations of 580 paisa to 590 paisa, market participants said. This was the second long term foreign exchange swap by the RBI, and both will reverse in March 2028.The swap auction is done by the RBI to tackle the persistent deficit seen in the banking system since mid December. The daily average deficit in system…

The Indian rupee leaped higher on Monday, with persistent dollar sales from foreign banks helping the local unit claw back all of its losses in 2025 so far. The rupee rose to a peak of 85.50 during the session, strengthening past levels last seen at the end of 2024. The currency closed at 85.6350 against the U.S. dollar, up 0.4% on the day.A nine-day streak of gains has boosted the rupee, as the currency benefited from dollar inflows related to inter-company borrowings and repatriation of corporate profits, which are usual in March, the last month of India’s financial year. Inflows…

The Indian rupee posted its best day against the dollar in more than a month on the back of dollar inflows and an unwinding of speculative long-dollar positions, which also helped it log its best week in more than two years. The rupee ended at 85.9725 against the U.S. dollar from 86.3675 in the previous session. It rose to a 10-week high of 85.9375 during the session and gained 1.2% in the week. A revival in domestic equities has lifted market sentiment for the rupee, Sugandha Sachdeva, founder of SS WealthStreet, a New Delhi-based research firm, said.If the rupee fails…

The Indian rupee rose for the seventh straight session on Thursday, its longest winning streak since January 2024, as persistent dollar sales by foreign banks and paring of short bets on the currency helped it weather a stronger dollar. The rupee rose to a near two-month high of 86.2075 per U.S. dollar earlier in the day before closing at 86.3675, up 0.1% on the day. Banks selling dollars to lock in profits on arbitrage trades between the non-deliverable and outright forwards also aided the rupee.A broadly weaker dollar has prompted a paring of short bets against Asian currencies with shorts…

The rupee closed about 12 paise higher at 86.4425 against the dollar, gaining for the sixth day in a row, and making it the longest gaining streak since September 2024.Dollar sales by exporters before the end of the financial year strengthened the local currency.The rupee opened a tad weaker at 86.6450 against Tuesday’s close of 86.57 but got strength with dollar sales and inflows. It touched the intra-day peak at 86.4250, which is the highest level since January 27.”The Indian rupee experienced its longest winning streak since September 2024, appreciating for the sixth consecutive day. This rally was fueled by…

The Indian rupee strengthened on Wednesday, touching a near two-month high, supported by dollar sales from foreign banks and seasonal inflows even as its regional peers dipped ahead of the U.S. Federal Reserve’s policy decision. The rupee ended the session at 86.4425 against the U.S. dollar, slightly higher than Tuesday’s close at 86.57. Earlier in the day, the currency hit 86.4250, a peak since January 27. While the rupee has been on a winning run this week, traders have also pointed to likely passive absorption of dollar inflows by the central bank, probably to replenish the forex reserves expended on…

The Indian rupee rose on Wednesday as a broadly weaker U.S. dollar spurred gains in most Asian currencies, with investors fretting over a slowdown in the U.S. and how trade tariffs may impact the world’s largest economy. The rupee closed 0.3% higher at 86.9550 against the U.S. dollar, its best single-day gain since February 11. Traders pointed to dollar sales from foreign and state-run banks during the session, which helped lift the rupee, alongside a markedly softer dollar.The dollar index fell nearly 0.6% to 104.9, its weakest level since November 2024, pressured by a sharp rise in the euro which…