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Forex traders said the rupee is trading in a narrow range as sustained foreign fund outflows and strength of the American currency in the overseas market weighed on investor sentiments.
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An upward trend in the crude oil prices and selling pressure from foreign equity investors continued to weigh on the Indian currency, forex traders said.
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The rupee stayed on downward track for the third consecutive session and depreciated by 6 paise to 83.23 against the US dollar
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A correction in crude oil prices and firm domestic stock markets in opening trade capped the losses of the rupee, according to forex dealers.
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Negative equity market sentiment and a strong dollar also weighed on the Indian currency, forex traders said
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Forex traders said the rupee is trading in a narrow range as sustained foreign fund outflows and strength of the American currency in the overseas market weighed on investor sentiments.
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Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, said the rupee declined amid weak domestic markets and a jump in crude oil prices.
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Rupee appreciated by 5 paise to 83.22 against the US dollar in early trade on Tuesday supported by a positive trend
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Forex traders said positive macroeconomic data supported the rupee, while geopolitical tensions, particularly the Israel-Hamas conflict, dented investor sentiments
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Forex traders said falling domestic inflation, rise in industrial production figures and improvement in trade deficit aided the local unit.
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India must strike a balance between utilising debt as a financial tool and ensuring fiscal sustainability
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Analysts said that the dollar index remained elevated above 106 after the US data showed the country's inflation slightly higher than estimated, raising expectations of further interest rate hikes by the US Federal Reserve.
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The rupee traded on a flat note at 83.24 against the US dollar in early trade on Friday
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The rupee opened at 83.17 and then traded between the range of 83.13 to 83.17 against the greenback. The Indian unit later traded at 83.14 against dollar, registering a gain of 4 paise from its previous close.
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However, unabated withdrawal of funds by foreign institutional investors weighed on the domestic currency, forex analysts said
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The rupee opened at 83.20 and then touched 83.22 against the greenback, up 3 paise from its previous close.
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The rupee rose 4 paise to 83.24 against the US dollar in early trade on Tuesday
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Mumbai: The rupee witnessed range-bound trading against the US dollar in early trade on Monday, weighed down by a negative trend in domestic equities and the strength of the American currency in the overseas market. Forex traders said the safe-haven dollar gained ground amidst heightened concerns in the Middle East. At the interbank foreign exchange, the […]
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Selling pressure from foreign equity investors amid strengthening dollar resulted in a negative bias, according to forex traders
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Forex traders said the strength of the American currency in the overseas market further dented investor sentiments
