"rupee"

Indian Rupee Underperforms in Asia Due to Higher Commodity Prices and Foreign Fund Outflows Amid Election Result Worries

Forex traders noted that the rupee is facing pressure due to ongoing elections and foreign fund outflows, expecting relief post-results.

According to forex traders, the USD/INR pair is anticipated to stay range-bound with a slight bias towards weakness, as foreign investors purchase US dollars and the Reserve Bank of India (RBI) sells the currency.

According to forex traders, the Indian currency faced pressure due to the outflow of foreign funds and persistently high crude oil prices.

Forex traders noted pressure on the Indian currency due to rising crude oil prices, but it received support from positive domestic equity market sentiment and foreign capital inflows

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.

In the interbank foreign exchange market, the rupee started at 83.34 against the dollar, then dropped to an early low of 83.39 against the greenback, marking a 6-paise decline from its previous close.

According to forex traders, high crude oil prices and substantial foreign fund outflows in the global market dampened investor sentiment.

According to forex traders, the domestic currency strengthened as the US dollar and crude oil prices pulled back from their recent highs.

Boost in manufacturing exports for sustained current account surpluses is a must while maintaining prowess in service exports and remittances

Forex Traders Cite Overseas Strength of Dollar, Dampening Investor Sentiment

In the interbank foreign exchange market, the local unit opened at 83.51 against the greenback, touching 83.49 in initial trade, marking a 12 paise rise from its previous close.

Forex traders cited a robust US dollar in global markets and crude oil prices above USD 90 per barrel as factors dampening investor sentiment.

In the interbank foreign exchange market, the rupee opened at 83.23 against the US dollar, later reaching 83.16 in initial trade, marking a 15 paise increase from its previous close.

Forex traders noted that investor sentiment was dampened by both elevated crude oil prices and continuous foreign fund outflows.

In the interbank foreign exchange market, the rupee commenced trading at 83.33 against the dollar. It dipped to an early low of 83.34, marking a decline of 5 paise compared to its previous close.

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

The unit moved in a range of 83.23 to 83.33 in morning deals.

In the interbank foreign exchange market, the rupee opened at 83.07 against the US dollar, stronger than the previous close of 83.19. It fluctuated between 83.08 and 83.04 in early trading.

At the interbank foreign exchange market, the rupee opened higher at 83.00 against the previous close of 83.03 in line with firm domestic stock markets.