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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
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The rupee depreciated 4 paise to 83.24 against the US dollar in early trade on Wednesday
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Forex traders said muted domestic macroeconomic data and sustained FII outflows also mounted downside pressure on rupee
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The rupee depreciated 17 paise to 83.23 against the US dollar in early trade on Tuesday
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The rupee opened strong at 83.13 against the US dollar and moved in the range of 83.03 to 83.13 against the greenback
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Massive selling of equities by foreign investors and an upward trend in crude oil prices, however, capped the rise of domestic currency
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The indices slumped sharply after the US central bank, while keeping its interest rate steady in the September meeting, hinted that it may again hike rates going ahead if need be, in its fight against inflation.
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Foreign fund outflows and losses in local equities, however, restricted the rupee's gains, forex dealers said.
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As per the data, reserve assets accounted for 64.2 per cent of India's international financial assets at the end of the June quarter.
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The rupee opened flat at 83.22 against the US dollar and later moved in a range of 83.25 to 83.20 in morning deals. It was trading at 83.21 to US dollar at 9.35 am, up by 1 paisa over the previous close.
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Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.05 per cent to 106.28.
