"rupee"

Forex traders said the strength of the American currency, foreign fund outflows, and elevated crude oil prices in the international market dented investors' sentiments.

At the interbank foreign exchange, the rupee opened at 82.82 against the dollar and touched an early low of 82.85 against the greenback.

The rupee initially started at 82.74 against the dollar in the interbank foreign exchange but quickly recovered to reach 82.64 against the greenback during early trading, marking a 3-paise increase from its previous close.

Positive equity markets provided support to the local currency, but its rally was limited by volatile crude oil prices, according to forex traders.

Forex traders noted that while a positive sentiment in the equity markets boosted the local currency, the higher level of the dollar index introduced a negative bias.

Forex traders noted that the domestic unit was dragged down by a volatile equity market and continued outflow of foreign funds.

Forex analysts note that the rupee was influenced by crude oil prices remaining above USD 83 per barrel. Nevertheless, the rupee found support from positive equity markets, limiting its decline.

In interbank forex trading, the local currency opened at 82.88 and edged slightly to 82.89 against the US dollar, marking a 2 paise increase from the previous close.

Positive equity market sentiment and a weak American currency, however, provided support to the domestic unit, forex traders said.

Forex trader said, however, the Indian currency was under pressure due to subdued equity market sentiment and elevated level of crude oil prices.

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

Forex traders said a strong American currency and elevated crude oil prices, however, weighed on the local unit

Forex traders said rupee is trading in a narrow range as strong American currency and elevated crude oil prices weighed on the local unit and restricted the uptick in the domestic unit.

Forex traders noted weakened investor sentiment due to strong American currency and high international crude oil prices.

At the interbank foreign exchange, the domestic currency opened at 83.01, then touched 82.99 against the greenback in initial deals, registering a rise of 8 paise from its previous close.

Apart from demand, it’s the actual traders who make the greenback powerful and most sought-after currency

Forex traders noted that the downturn in domestic equities and foreign fund inflows dampened investor sentiment.

At the interbank foreign exchange, the rupee opened at 82.94 against the dollar, later reaching 82.90, marking a 6 paise gain from its last close.

"At the interbank foreign exchange, the rupee started at 83.03 against the dollar, marking a 2 paise increase from its last closing."

Forex traders said the interim budget had a positive impact on the domestic currency as it highlighted a reduction in the fiscal deficit to 5.1 per cent of GDP for FY25.