"rupee"

However, persistent foreign capital outflows capped the gains of the local unit, forex traders said.

At the interbank foreign exchange, the domestic unit opened lower at 82.33 against the dollar, then lost further ground to quote at 82.38, registering a fall of 19 paise over its previous close.

Moreover, risk aversion sentiment among investors and weak Asian and emerging market currencies weighed on the local unit.

Moreover, a negative trend in domestic equities and firm American currency sapped investor appetite, forex traders said.

The increase in tuition fees in the US, the UK and Australia by 10 to 20 per cent is another reason behind the costlier education abroad. Also, the airfares have increased in recent times, which has added burden on students studying abroad.

Moreover, a negative trend in domestic equities and elevated crude oil prices sapped investor appetite, forex traders said.

At the interbank foreign exchange, the rupee opened on a strong note at 81.52 against the greenback, then pared the gains and fell to 81.66, registering a fall of 4 paise over its previous closing.

Mumbai: The rupee strengthened by 31 paise to 81.51 against the US dollar in early trade on Tuesday, tracking weakness in the greenback in overseas markets and a rally in domestic equities. However, rising crude price in the international market restricted the rupee, forex traders said. At the interbank foreign exchange, the local currency opened […]

Besides, surging crude prices in the international market impacted the domestic unit, traders said.

The downward spiral of the Indian rupee could hit the industry hard, especially production segments where imports are a crucial component.

Forex traders said the rupee gained as the dollar retreated from its elevated levels. However, the local unit is likely to remain volatile amid the announcement of the Reserve Bank of India (RBI) monetary policy decision.

At the interbank foreign exchange, the domestic unit opened at 81.60 against the dollar, then touched 81.58, registering a gain of 35 paise over its previous close.

The rupee had slipped below the 82-level for the first time on Wednesday and that the falling rupee is spooking the financial plans of those wanting to pursue higher education abroad.

Moreover, a negative trend in domestic equities and significant foreign fund outflows sapped investor appetite, forex traders said.

The free fall of the rupee is continuing, racing towards an all-time record low of Rs.82 against the dollar and that the falling rupee would make pharma imports costlier as importers have to shell out more rupees per dollar.

This morning, the Rupee opened 25 paise lower from the previous session to touch a record low of 81.09 versus the US dollar, against Thursday's close of 80.86. Yesterday's depreciation was the biggest single-day fall for the rupee since February 24.

Forex traders said the strength of the American currency in the overseas market and a muted trend in domestic equities weighed on the local unit. Moreover, risk-off moods and firm crude oil prices weighed on the local unit.

Goyal and Saudi Minister for Energy Prince Abdulaziz bin Salman Al-Saud co-chaired the ministerial meeting of the Committee on Economy and Investments of the council.

At the interbank foreign exchange market, the rupee opened at 79.80 against the greenback, then fell to 79.82, registering a decline of 11 paise over its last close.

On Tuesday, the rupee appreciated by 36 paise to close at an over one-month high of 79.17 against the dollar.