"american-currency"

The local currency also gained support from increased foreign fund inflows and the RBI's announcement of a record dividend payout to the government for FY25, according to forex traders.

According to forex traders, the local currency came under pressure due to weak sentiment in the equity markets and a modest rebound in crude oil prices. At the interbank foreign exchange, the rupee opened at 85.48 and eased to 85.54 against the US dollar in early trade, marking a 10 paise gain from its previous close.

Forex traders noted that the local currency initially gained support following the US decision to postpone higher tariffs on Canada and Mexico. Additionally, the RBI's move to inject Rs 1.9 trillion liquidity into the banking system further strengthened the domestic unit. However, they added that volatile equity markets dampened sentiment, dragging the currency into negative territory.

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Forex traders noted that lower crude oil prices in the international market boosted the local currency's recovery. At the interbank forex market, the rupee opened at 84.42 and gained further to 84.38 against the US dollar, up by 8 paise from its previous close.

Forex traders noted that subdued sentiment in the domestic equity markets, along with significant foreign fund outflows over the past three days, hindered any recovery in the rupee. In the interbank foreign exchange market, the local currency opened at 83.96 against the US dollar but was unable to recover from the sharp decline experienced in the previous session.

Falling crude oil prices provided support to the Indian currency, though it was partially weighed down by foreign fund outflows, according to forex traders. At the interbank foreign exchange market, the rupee opened at 83.63 and strengthened to 83.56 against the US dollar, trading 9 paise higher than its previous close.

Forex traders noted that market participants are awaiting the US Fed's policy announcement on Wednesday, where a rate cut is expected, though its size remains uncertain. They also mentioned that the rupee remains stable within a defined range due to active intervention by the Reserve Bank of India (RBI).

Forex traders noted that the rupee remains in a tight range, with the Reserve Bank of India (RBI) keeping a strong hold on the domestic currency. At the interbank foreign exchange market, the rupee opened at 83.92 and edged up to 83.91, marking a 5 paise increase from its previous close.

Forex traders noted that foreign institutional inflows, along with notable corrections in asset classes such as the dollar index and crude oil prices, supported the rupee. Additionally, the Reserve Bank's active intervention helped maintain the rupee within a narrow range.

Forex traders noted that easing crude oil prices and overall weakness in the dollar index supported the rupee, though the Reserve Bank's active intervention kept it within a tight range. In the interbank foreign exchange market, the rupee traded within a narrow band, opening at 83.96 against the dollar and reaching 83.85 in early trade. It later remained steady at 83.95, unchanged from its previous close.

Forex traders noted that the market is awaiting the US GDP and Personal Consumption Expenditure (PCE) inflation data. These data points are crucial as they could influence the Federal Reserve's decision on whether to implement a 25 or 50 basis point rate cut at its September meeting.

Forex traders noted that the weakening of the American currency in global markets and falling crude oil prices boosted investor sentiment. On the interbank foreign exchange market, the rupee opened at 83.88 against the dollar, then strengthened to 83.84, marking an 11 paise gain from its previous close.

Forex traders noted resistance for the local unit due to a stronger US dollar and elevated crude oil prices abroad.

At the interbank foreign exchange market, the local unit opened at 83.43 against the greenback. It later touched 83.42 in initial trade, registering a rise of 3 paise from its previous close.

The domestic unit opened at 83.39 against the greenback at the interbank foreign exchange, slipping further to 83.43, marking a 5 paise loss from its previous close.

Brent crude futures, the global oil benchmark, declined 0.05 per cent to USD 85.74 per barrel.

Analysts: Foreign Investors' Selling Pressure and High Oil Prices Hinder Rupee's Sharp Gain

"The Indian rupee faced pressure due to an advancing dollar index, driven by hawkish remarks from Federal Reserve officials, according to forex traders."

Forex traders said the rupee is trading lower on strong dollar and sustained foreign fund outflows over the past few days.