archiveIndian rupee

By Jaspreet Kalra MUMBAI (Reuters) - The Indian rupee rose on Thursday to log its best weekly performance in a month as foreign portfolio inflows into Indian equities picked up and as the dollar remained on the defensive amid concerns about how tariffs would affect the world's largest economy. The rupee closed at 85.3675 against the U.S. dollar, up from its close at 85.6775 in the previous session. The currency rose about 0.8% week-on-week, its best weekly gain since March 17. Indian financial markets are shut on Friday for the...

India’s stock, currency, and bond markets will remain closed on Monday, April 14, for a local holiday, resuming trading on Tuesday.  | Photo Credit: iStockphoto India's equity, currency and debt markets will be closed on Monday, April 14, for a local holiday. Trading will resume on Tuesday, April 15.The benchmark BSE Sensex rose 1.8%, while the broader NSE index advanced 1.9%, paring most of their weekly losses after U.S. President Donald Trump's 90-day pause on hefty "retaliatory" tariffs on countries excluding China.The Indian rupee rose 0.75% versus the U.S. dollar...

India's foreign exchange reserves stand at USD 658.8 billion, enough to cover 11 months of imports, Finance Minister Nirmala Sitharaman informed the Rajya Sabha.New Delhi, Apr 1 (PTI) India is the fourth largest country to hold foreign exchange reserves of USD 658.8 billion, enough to meet the country's imports for 11 months, Finance Minister Nirmala Sitharaman told the Rajya Sabha on Tuesday.Replying to supplementaries during the question hour, she assured members of their concerns on the foreign exchange reserves and the current account deficit."I want to assure you that total...

Indian stock markets have staged an impressive recovery in March, rebounding from a protracted period of negative returns that began in October. India has been one of the best performing markets in the last few weeks. The recovery in stock markets is driven by a change in stance of foreign portfolio investors. In the last two weeks of March, FPIs have been net buyers due to aggressive buying of Indian debt. The spate of selling in the equity market has slowed down considerably, compared to the previous months. Supported by...

The Indian rupee gained marginally on Wednesday to end at 85.705 per US dollar, up from the previous close of 85.755, LSEG data showed. Dollar inflows, maturity of positions in the non-deliverable forwards market with a sharp focus on tariff announcement on India by the US kept the rupee in a 20-paisa range during the day, traders said.The currency opened at 85.69 to $1 and weakened up to 85.89 to $1 during the day, before closing slightly stronger, according to LSEG data. The dollar index was largely stable at 104.2.“There...

MUMBAI: The Indian rupee is set to open higher on Wednesday following weak U.S. consumer confidence data that heightened anxieties regarding the U.S. economic trajectory. The resumption of equity flows should provide an additional impetus to the rupee. The 1-month non-deliverable forward indicated that the rupee will open at 85.62 to 85.64 against the U.S. dollar compared with 85.7550 in the previous session. The Indian currency snapped a nine-day winning run on Tuesday, during which it has rallied by 2%. A predominantly softer dollar, the return of foreign capital to...

New Delhi , March 23 (ANI): India's foreign exchange reserves rose USD 305 million to USD 654.271 billion in the week that ended on March 14. The previous week witnessed the highest weekly gains in over three years. Prior to that, forex reserves had slumped for about four months, recently hitting an 11-month low. Then followed the latest rollercoaster movement, with gains some weeks and declines the next. Forex reserves started falling after touching an all-time high of USD 704.89 billion in September. They are now about 7 percent lower...

MUMBAI: The Indian rupee jumped to its highest level in over three weeks on Tuesday, boosted by likely dollar inflows and persistent weakness in the greenback, which teetered near a five-month low against major peer currencies. The rupee rose to a peak of 86.54 against the US dollar, its highest since February 21, before closing at 86.57, up over 0.2% on the day. At least three large foreign banks sold dollars, helping lift the rupee, a trader at a mid-sized private bank said. Bids by state-run banks, however, kept a...

MUMBAI: The Indian rupee (INR) jumped to its highest level in over three weeks on Tuesday, boosted by likely US Dollar (USD) inflows and persistent weakness in the greenback, which teetered near a five-month low against major peer currencies. The rupee rose to a peak of 86.54 against the US dollar, its highest since February 21, before closing at 86.57, up over 0.2% on the day. At least three large foreign banks sold dollars, helping lift the rupee, a trader at a mid-sized private bank said. Bids by state-run banks,...

Reserve Bank and the Bank of Mauritius (BOM) have signed a pact for establishing a framework to promote the use of the Indian Rupee and the Mauritian Rupee (MUR) for cross-border transactions.The Memorandum of Understanding (MoU) was signed by RBI Governor Sanjay Malhotra and BOM Governor Rama Krishna Sithanen G C S K, the central bank said in a statement on Tuesday. "The MoU documents were exchanged in Port Louis, Mauritius in the presence of the Prime Minister of India Narendra Modi and Prime Minister of Mauritius Navinchandra Ramgoolam, on...