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The Indian rupee ended little changed on Monday, in contrast to the gains in its regional peers, as dollar demand from oil companies weighed. The rupee ended at 86.6950 to the U.S. dollar, compared with its close of 86.7125 on Friday. The Indian currency had opened higher at 86.56 and had hit 86.51 in early trades.”There was good dollar buying from state-run banks, on behalf of oil companies, which may have wanted to take advantage of the rupee edging closer to 86.50,” said a trader with a private bank. The likely outflows from Indian equities also contributed to the rupee’s…

The rupee pared initial gains and settled 7 paise lower at 86.71 (provisional) against the US dollar on Friday, weighed down by sustained foreign fund outflows and a recovery in the American currency index. Forex traders said the Indian rupee declined on Friday on weak domestic markets and a recovery in the US dollar index. However, weak crude oil prices cushioned the downside. At the interbank foreign exchange, the rupee opened on a positive note at 86.50 against the greenback. During the session it pared the gains and fell to an intra-day low of 86.77 before ending the session at…

Indian rupees weakened slightly on Friday, pressurizing dollars demand from importers and weakness in local shares, who have witnessed a migration of more than 2025 foreign funds. The rupee decreased to 86.7125 against the US dollar after increasing by 86.4850 in the session. The currency was 0.1% from the week to week. While a businessman from a private bank said that Mudra benefited from widely weak dollars in early trades, a consistent dollar purchases from foreign banks ate, said a businessman from a private bank.”The price action of the last two days suggests that the Dips (on USD/INR) will be…

The rupee appreciated 14 paise to 86.50 against the US dollar in early trade on Friday, fuelled by the broad weakening of the US dollar, which faced downward pressure from lackluster economic data.Forex traders said rupee is expected to trade with a slight negative bias on weak domestic equities and foreign fund outflows. However, overall weakness in crude oil prices may cushion sharp downside. At the interbank foreign exchange, the rupee opened at 86.50 against the greenback, up 14 paise from its previous close. On Thursday, the rupee appreciated 34 paise to close at 86.64 against the US dollar. “The…

The rupee appreciated 33 paise to close at 86.65 (provisional) against the US dollar on Thursday, supported by the weakening of the American currency in the overseas market. Forex traders said there is a negative bias for the USD/INR pair amid a muted trend in domestic equities and the unabated foreign fund outflow which is weighing on investor sentiments. At the interbank foreign exchange, the rupee opened at 86.88 and touched a high of 86.58 and a low of 86.88 against the greenback during intraday. It ended the session at 86.65 (provisional) against the dollar, logging a gain of 33…

Benchmark indices ended Wednesday’s session nearly flat after a volatile day of trading, even as mid and small-cap stocks rallied sharply from recent lows. The Sensex closed at 75,939.18, down marginally by 28.21 points or 0.04 per cent, while the Nifty 50 slipped 12.40 points or 0.05 per cent to end at 22,932.90. The day saw a remarkable divergence between benchmarks and broader markets, with the Nifty Midcap Select surging 1.20 per cent to 11,270.25 and the Nifty Next 50 climbing 1.19 per cent to 60,156.40. Banking stocks showed strength, with the Nifty Bank index rising 0.98 per cent to…

The prevailing conditions indicate that the rupee is likely to remain in the 86.60-87 range over the next week. Post which, an eventual breach of 87 can result in a fall to 87.60. | Photo Credit: Andrii Yalanskyi The rupee, after witnessing a volatile first half of February, has now stabilised against the dollar. It has been witnessing a sideways movement in the past few sessions. The domestic currency has closed Tuesday’s session at 86.96.Helping the rupee stabilise, the dollar fell over the past week. The greenback softened as the retail sales data in the US came in weaker-than-expected. For…

Rupee depreciated 8 paise to close at 86.96 (provisional) against the US dollar, weighed down by sustained foreign fund outflows and an uptick in the US dollar index.Forex traders said there is a negative bias for the USD/INR pair as foreign investors continue to sell domestic equities and RBI support is tapering off slowly.At the interbank foreign exchange, the rupee opened at 86.94 and touched a high of 86.91 against the greenback intraday. It also touched a low of 86.98, before ending the session at 86.96 (provisional) against the dollar, logging a loss of 8 paise from its previous close.On…

The Rupee opened 6 paise weaker at 86.9425 per Dollar against the previous close of 86.88 and appears to be within striking distance of breaching the crucial 87. It hit an intraday low of 86.9675 per Dollar so far and is currently trading at 86.96. Amit Pabari, MD, CR Forex Advisors, observed that the central bank’s measures, coupled with the absence of anticipated U.S. tariffs, have alleviated trade-related concerns, allowing emerging market currencies like the rupee to stay firm. However, the trade deficit and RBI’s plan to purchase bonds worth ₹40000 crore (which will further boost the rupee’s liquidity creating…

The Indian Rupee (INR) is expected to trade within the range of 86.5 to 87.5 per US dollar in the near term, with the Reserve Bank of India (RBI) likely to keep its intervention limited, according to a recent report by Bank of Baroda.The report highlighted that the RBI’s intervention in the forex market may remain limited due to the prevailing tight domestic liquidity conditions. “RBI’s intervention is likely to be limited going ahead given the tight domestic liquidity situation. We expect INR to trade in the range of 86.5-87.5/$ in the near-term” the report stated. The Indian Rupee witnessed…