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Forex traders noted the rupee's resilience against the dollar, influenced by consumer price index data and the US Federal Reserve's policy decision.
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Forex traders noted resistance for the local unit due to subdued domestic macroeconomic data.
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Forex traders noted reduced market uncertainty as Narendra Modi was sworn in for a third term as Prime Minister on Sunday, matching a record.
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At the interbank foreign exchange market, the rupee opened at 83.46 and then slipped to 83.47 against the dollar, gaining 6 paise from its previous close
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Forex traders noted that despite an increase in crude oil prices, the Indian currency saw limited gains, with investors exercising caution before the RBI's monetary policy decision on Friday.
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Forex traders attribute uptick in equity markets to value-buying surge, buoying local currency post-election results shortfall.
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Forex traders noted that a weak American currency and foreign capital inflows into domestic equities also bolstered the local unit.
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Forex traders noted that the weakness of the US dollar in overseas markets supported the rupee, but high international crude oil prices limited its gains.
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Indian Rupee Underperforms in Asia Due to Higher Commodity Prices and Foreign Fund Outflows Amid Election Result Worries
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Forex traders noted that the rupee is facing pressure due to ongoing elections and foreign fund outflows, expecting relief post-results.
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Among sectors, almost all the major sectoral indices witnessed profit booking at higher levels but energy and metal indices lost the most, shedding nearly 3 per cent.
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At the interbank foreign exchange market, the local unit opened at 83.43 against the greenback. It later touched 83.42 in initial trade, registering a rise of 3 paise from its previous close.
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According to forex traders, the Indian currency faced pressure due to the outflow of foreign funds and persistently high crude oil prices.
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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.
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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.
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According to forex traders, high crude oil prices and substantial foreign fund outflows in the global market dampened investor sentiment.
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According to forex traders, the domestic currency strengthened as the US dollar and crude oil prices pulled back from their recent highs.
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Boost in manufacturing exports for sustained current account surpluses is a must while maintaining prowess in service exports and remittances
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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.
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Forex traders cited a robust US dollar in global markets and crude oil prices above USD 90 per barrel as factors dampening investor sentiment.