archiveIndian rupee

MUMBAI: The Indian rupee weakened on Tuesday as dollar bids from foreign banks, likely on behalf of custodial clients, and a softer Chinese yuan outweighed positive cues from broad weakness in the greenback. The rupee closed at 85.6350 against the US dollar, down about 0.3% on the day. Asian currencies were mixed on the day while the offshore Chinese yuan dipped lower after China cut key benchmark lending rates and corporate seasonal demand for dollars remained high. A fall in local equities also weighed on the rupee, with traders pointing...

MUMBAI: The Indian rupee weakened on Tuesday as dollar bids from foreign banks, likely on behalf of custodial clients, and a softer Chinese yuan outweighed positive cues from broad weakness in the greenback. The rupee closed at 85.6350 against the U.S. dollar, down about 0.3% on the day. Asian currencies were mixed on the day while the offshore Chinese yuan dipped lower after China cut key benchmark lending rates and corporate seasonal demand for dollars remained high. A fall in local equities also weighed on the rupee, with traders pointing...

MUMBAI: The Indian rupee is expected to open marginally weaker on Tuesday, pressured by the dip in the yuan amid a cut in China’s key lending rates. The 1-month non-deliverable forward indicated that the rupee will open at 85.44-85.46 to the U.S. dollar compared with 85.40 in the previous session. Following the volatility triggered by India-Pakistan tensions, the Indian rupee has settled into a relatively narrow range. On Monday, the currency traded within a 25-paisa band. Throughout May, the rupee has moved in a wider range of 83.77 to 85.84,...

MUMBAI: The Indian rupee closed nearly flat on Tuesday as a fall in local equities and dollar bids from state-run banks ate into the currency’s early gains spurred by the cessation of military hostilities between India and Pakistan. The rupee touched a peak of 84.6350 in early trading before ending at 85.33 against the US dollar, nearly unchanged from its close at 85.37 on Friday. The benchmark equity indexes, the BSE Sensex and Nifty 50, fell about 1.5% each on fears of foreign flows moving to China after its trade...

Mumbai: The Indian rupee opened 75 paise stronger at 84.65 against the US dollar on Tuesday, following its previous close at 85.38 a dollar. The trading range for the day was expected to be between 84.50 and 85.25, according to analysts. The dollar maintained its gains following a significant trade pact between the US and China. The US will reduce tariffs on Chinese goods from 145 per cent to 30 per cent for 90 days, while China said it will cut tariffs on US goods from 125 per cent to...

Listen to article Indian stock markets lost an estimated $83 billion in market capitalisation this week as escalating military conflict with Pakistan triggered investor concerns and rattled financial markets. The sell-off deepened after Pakistan launched a retaliatory military operation, Operation Bunyan-un-Marsoos, targeting strategic Indian installations in response to missile strikes by New Delhi earlier in the week. The Nifty 50 index fell 1.1% on Friday, closing just above the key 24,000-point psychological level. The BSE Sensex also declined 1.1%, finishing below the 80,000 mark it held a day earlier. The two benchmark...

The rupee depreciated 30 paise to 85.88 against the US dollar in early trade on Friday, weighed down by intensifying geopolitical tensions between India and Pakistan.Forex traders said geopolitical tensions between India and Pakistan have sparked risk-off sentiment in the market leading to the rupee weakness. Besides, increased demand for the US dollar further dented investor sentiments. At the interbank foreign exchange, the domestic unit opened at 85.88 against the greenback, registering a fall of 30 paise over its previous close. On Thursday, the rupee saw its steepest single-day fall...

The Indian rupee depreciated 45 paise to close at 84.80 against the US dollar on Wednesday, driven by heightened tensions between India and Pakistan following India's military strikes on terrorist camps in Pakistan. Mumbai, May 7 (PTI) The rupee depreciated 45 paise to close at 84.80 (provisional) against the US dollar on Wednesday, as heightened cross-border tensions following India's military strikes against terrorist camps in Pakistan and Pakistan-Occupied Kashmir weighed on the domestic currency.Indian armed forces on early Wednesday carried out missile strikes on nine terror targets in Pakistan and...

MUMBAI: The Indian rupee is expected to find support from the Chinese yuan at Wednesday’s open while market participants remain vigilant for any news related to the India-Pakistan border, where tensions continue to simmer. The 1-month non-deliverable forward indicated that the rupee will open marginally higher-to-flat to the US dollar from the close of 85.2625 in the previous session. It was a choppy session for the rupee on Tuesday, with traders highly sensitive to any news related to India-Pakistan developments. The Indian currency hit a year-to-date high during the day,...

MUMBAI: The Indian rupee yet again failed to move past the psychological 85 mark on Friday after a sell-off in local equities and bonds amid investors weighing the potential for increased geopolitical uncertainty following a deadly militant attack. The rupee, having peaked at 85.10 during the session, dropped to 85.6550 versus the U.S. dollar. This is the third time in recent days that the Indian currency has been driven back from the 85 level. India’s Nifty 50 Index dropped over 1%, significantly underperforming other Asian equity indices, which followed their...