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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…

The dollar fell to a three-month low on Tuesday as concerns about slowing growth and the impact from tariffs on the U.S. economy outweighed any potential boost from the ramping up of levies on Canada, Mexico and China. President Donald Trump’s new 25% tariffs on goods from Mexico and Canada took effect, along with a doubling of duties on Chinese goods to 20%, at 12:01 a.m. EST (0501 GMT). In response, China said it will impose additional tariffs of 10-15% on certain U.S. imports from March 10. Canada has said that retaliatory tariffs on the United States would take effect…

The Indian rupee closed slightly higher on Tuesday tracking a rise in Asian peers, while dollar demand from importers and foreign banks kept a lid on the local unit’s gains. The imposition of U.S. trade tariffs on China, Canada and Mexico dampened risk appetite, triggering a decline in global stocks and bond yields. However, Asian currencies rose between 0.1% and 0.6%. The rupee closed at 87.2650 against the U.S. dollar, up 0.1% on the day.While the currency slipped a tad below 87.40 in early trading, intermittent dollar sales from state-run banks helped support the rupee, three traders said. “There was…

The rupee declined 8 paise to 87.40 against the US dollar in early trade on Tuesday, weighed down by persistent foreign fund outflows and a prevailing liquidity deficit. Forex traders said the ongoing uncertainty surrounding tariff imposition by the US has left financial markets in flux. Moreover, the tariff chaos has injected volatility and uncertainty into the US Dollar Index. At the interbank foreign exchange, the rupee opened at 87.38, then fell to 87.40 against the American currency, registering a decline of 8 paise over its previous close. On Monday, the rupee settled with a gain of 5 paise at…

The Indian rupee ended higher on Monday, tracking an uptick in regional peers at the start of a week in which the currency’s moves will depend on the news flow regarding U.S. tariffs and economic data, and the local central bank’s reaction. The rupee ended at 87.3700 against 87.4950 in the previous session. The Indian currency dropped 1% in February, logging its fifth straight monthly loss. “There was a mild recovery in the rupee, as it was slightly in an oversold zone last week,” a trader with a private bank said.Hedging demand, persistent equity outflows, and the usual market flows…

The rupee appreciated 9 paise to 87.28 against the US dollar in early trade on Monday as the American currency index retreated from elevated level and domestic equity markets indicated some recovery after firm macroeconomic data. According to forex traders, withdrawal of foreign capital is expected to halt as the latest government data released on Friday showed the country’s economy grew by 6.2 per cent in the October-December quarter, recovering sequentially from seven-quarter lows. However, the volatility triggered by the US tariff continued to linger, leading to an increase in crude oil prices and capping a sharp gain in the…

The Indian rupee logged its fifth straight monthly fall in February, weighed down by foreign portfolio outflows and increased hedging in the onshore and the non-deliverable forward market. The rupee ended at 87.4950 against the U.S. dollar compared with 87.20 in the previous session. The domestic unit fell 1% in February, and slipped to an all-time low of 87.95 during the month. However, periodic intervention by the Reserve Bank of India (RBI) largely curbed one-way moves on the domestic unit and prevented speculators from betting against the rupee.The RBI conducted a three-year dollar-rupee buy-sell swap auction on Friday, drawing bids…

The Indian rupee logged its worst day in three weeks on Tuesday, weighed down by weakness in regional peers, importer hedging and dollar demand related to the expiry of non-deliverable forward contracts. The rupee ended at 87.21 to the U.S. dollar, down from 86.6950 in the previous session. The domestic unit slipped 0.6% on the day, its biggest single-day fall since February 5. The rupee pared some losses as the central bank likely intervened to support the currency after it dropped due to demand for the greenback related to derivatives expiry, four traders told Reuters.”You have dollar demand on the…