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The rupee fell 22 paise to 85.98 against the US dollar in early trade on Wednesday, weighed by rising global crude prices and weak trade data. However, later gains were supported by FPI inflows and a weaker dollar overseas.

The rupee strengthened by 21 paise to 85.87 against the US dollar in early trade Thursday amid global dollar weakness. Gains were capped by rising oil prices and FII outflows. Markets reacted to geopolitical stability and US economic cues.

The rupee declined by 17 paise to 86.72 against the US dollar as global crude oil prices spiked after US strikes on Iran. A strong dollar and weak equities added pressure, though FII inflows and forex reserves offered some cushion.

The rupee rose 12 paise to 85.43 against the US dollar on Monday, buoyed by weak global cues and robust GDP data. Analysts await RBI’s rate decision and PMI data as markets remain volatile amid foreign fund outflows and high oil prices.

The rupee’s rebound has been driven primarily by a decline in crude oil prices and the weakening of the US dollar in global markets. According to forex traders, the greenback lost ground due to growing concerns over inflationary pressures, triggered by tariffs and the looming threat of a potential recession in the United States.

Forex traders noted that the Indian rupee has pushed back against external pressures, bolstered by strong foreign inflows into debt markets. However, persistent foreign institutional investor sell-offs and uncertainty over Trump's tariff stance could still threaten the rupee's upward trajectory.

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 say indication of some recovery in domestic equity markets prevented the fall in local unit

Most major central banks have shifted towards rate cuts, with the US Fed recently lowering rates by 50 basis points. Meanwhile, the RBI has kept its accommodative stance. The focus now turns to whether the central bank will transition from this accommodative position to a more neutral approach.

Forex traders noted that rising crude oil prices and a strong U.S. dollar against major global currencies, driven by increased demand from importers at the month's end, exerted pressure on the local currency. Additionally, they mentioned that investor participation was subdued as they awaited cues from the upcoming domestic manufacturing PMI (Purchasing Managers' Index) figures to be released this week.

Forex traders noted that positive sentiment in both domestic and global equity markets, coupled with a weak American currency, supported the rupee. On the interbank foreign exchange, the rupee opened at 83.93 and traded at its previous session's closing level of 83.94 against the dollar.

This comes on the heels of significant downturn in Indian equity markets, foreign fund outflows

Forex traders say strength of dollar in overseas market, elevated crude oil prices weigh on local unit and restrict appreciation bias

Opens at 83.52, gains further to trade at 83.45 against the greenback in initial deals, registering an increase of 12 paise

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 82.05, then touched a high of 82.02 against the American currency, registering a rise of 6 paise over its last close.

A surge in crude oil prices capped sharp gains for the local unit, forex traders said.

The downward movement in crude price and inflows of foreign funds capped the fall of rupee, as per Forex traders.

Mumbai: The rupee depreciated 14 paise to 77.69 against the US dollar in the opening trade on Tuesday tracking persistent foreign fund outflows and elevated global crude oil prices. However, a firm trend in domestic equities capped the losses in the domestic unit, forex traders said. At the interbank foreign exchange, the rupee opened weak […]

At the interbank foreign exchange, the domestic unit opened lower at 73.47 against the dollar