archiveIndian rupee

MUMBAI: The Indian rupee experienced choppy trading before ending nearly flat on Monday as a broad based decline in the U.S. dollar blunted risk aversion spurred by the escalation in the Iran-Israel conflict. The rupee closed at 86.0650 against the U.S. dollar, nearly unchanged from its close of 86.08 in the previous session. The South Asian currency hovered in a 85.9525-86.23 range on the day with traders pointing to exporter hedging, oil prices and broad-based dollar weakness among the cues that impacted its trajectory. While “traders were biased towards buying...

MUMBAI: The Indian rupee is set to extend losses at Monday’s open, weighed by fears that the intensifying Israel-Iran conflict is likely to increase oil prices further. Expectations that the Reserve Bank of India (RBI) will step in to curb depreciation pressures amid oil risks may offer some support to the local currency, traders said. The 1-month non-deliverable forward indicated an open in the 86.16-86.20 range, versus 86.08 in the previous session. The Indian currency had slipped to 86.20 on Friday — its weakest level in over two months —...

MUMBAI: The Indian rupee weakened slightly on Thursday, pressured by corporate dollar demand and likely portfolio outflows even as broad-based dollar weakness boosted its regional peers. The rupee closed at 85.60 against the U.S. dollar, down 0.1% from its close at 85.51 in the previous session. Asian currencies rose with the Taiwanese dollar leading gains with a 1.6% rise while the offshore Chinese yuan rose 0.2%. The dollar index, meanwhile, fell 0.4% to 98, its lowest level in over a month. The rupee was unable to benefit from a broadly...

MUMBAI: The Indian rupee strengthened modestly on Friday as the Reserve Bank of India’s steepest rate cut in five years boosted local equities, helping the South Asian currency eke out a gain even as the dollar firmed against major peers. The rupee closed at 85.6250 against the US dollar, up from its close at 85.79 in the previous session. The rupee declined 0.2% on the week. The Reserve Bank of India (RBI) cut its key repo rate by 50 basis points on Friday and slashed the cash reserve ratio (CRR)...

MUMBAI: The Indian rupee strengthened on Monday, aided by likely dollar inflows related to the rejig of a global equity index that helped the local currency sidestep a dip in most of its regional peers as U.S.-China trade tensions continued to simmer. The rupee rose to 85.4075 per U.S. dollar as of 11:00 a.m. IST, up 0.2% from its close of 85.5775 in the previous session. Traders said the rupee was supported by dollar sales from at least two large foreign banks on the day, likely related to the rejig...

The Indian rupee is emerging Asia’s worst performer this quarter and may continue to lag peers as the central bank aims to avert a depletion in its foreign-exchange reserves, according to analysts.The Reserve Bank of India had dollar repayments of about $73 billion as of April as indicated by its net short forwards position, a measure of the amount of greenback it has agreed to sell at a future date, according to the central bank’s latest data. It has narrowed from an all-time high of $88.8 in February. That may...

After appreciating towards 83.94/$1 levels in April, the combined impact of tariff uncertainties, border tensions and expectations of further monetary easing by the central bank made the rupee the worst performing currency in Asia in May. The rupee weakened 1.27% in May, from 84.48/$1 at the beginning of the month to 85.57/$1 as of May 30, and retreated the most in Asia. Agencies“There have been unwinding of long rupee positions amid tariff uncertainties while importers are taking advantage of lower forward premiums,” said Kunal Sodhani, head of treasury at Shinhan...

MUMBAI: The Indian rupee declined by about 1% in May, reversing course after gaining in the previous two months, influenced by factors such as continued uncertainty over U.S. trade policies, gains in its Asian peers and a conflict between India and Pakistan. The rupee closed at 85.5775 on Friday, capping a day of choppy trading with a mild decline. The currency had rallied to a six-month high earlier in May but shed its gains through the month. Initially, a military conflict between India and Pakistan hurt the currency but it...

MUMBAI: The Indian rupee is poised to open higher on Friday, after the U.S. dollar’s rally, which was sparked by a U.S. court ruling on tariff policy, proved short-lived. The 1-month non-deliverable forward indicated a open in the 85.36-85.40 range, versus the previous session’s close of 85.5075. So far this week, the Indian currency has been in a 84.78 to 85.70 range and is on track for a marginal weekly decline. Indian rupee to open nearly flat, holds upper hand as dollar remains vulnerable The rupee “is in a space...

MUMBAI: The Indian rupee is set to open weaker on Thursday, weighed by the dollar’s strength after a U.S. court blocked President Donald Trump’s tariffs. The 1-month non-deliverable forward indicated the local currency would open in the 85.48-85.52 range, compared to a close of 85.36 in the previous session. “When you think about it, it’s a bit counterintuitive that Asia is lower on the back of the U.S. court blocking tariffs,” a currency trader at a Mumbai-based bank said. “However, that’s been the pattern — tariffs imply weaker U.S. growth...