The rupee dived deeper to settle near all-time low at 84.08 (provisional) against the US dollar on Friday weighed down by a firm American currency and unprecedented foreign fund outflows. Also read: IndusInd Bank Q2 results: Why the street is spooked Forex traders said the selling rush by foreign investors in pursuit of better gains … Read more
The rupee stayed stuck at its near-record low of 84.07 (provisional) against the US dollar on Thursday as surging crude oil prices and persistent foreign fund outflow weighed on the local unit. Analysts said the selling rush by foreign investors in pursuit of better gains from the Chinese market has been preventing the rupee’s recovery, … Read more
The rupee stayed flat at 84.07 against the US dollar in early trade on Thursday amid elevated crude oil prices and continuous withdrawal of foreign funds from capital market. However, the local unit found some cushion as the dollar retreated from its higher level while the domestic equity markets indicated a recovery, forex traders said. … Read more
The rupee settled flat at 84.08 (provisional) against the US dollar on Wednesday, facing pressure from a stronger American currency as well as relentless outflow of foreign funds. Forex traders said the lacklustre sentiment in domestic equity markets and volatile geopolitics ahead of the US Presidential election kept investors on the sidelines. At the interbank … Read more
The rupee on Monday settled flat at 84.07 (provisional) against the US dollar amid strong American currency against major rivals overseas and relentless foreign fund outflows. Investors remained cautious and stayed away from riskier assets due to geopolitical uncertainties, forex dealers said. At the interbank foreign exchange market, the local unit opened at 84.06 against … Read more
The dollar index continued its rise for the third consecutive week. The rise to 104 almost happened last week in line with our expectation. The index touched a high of 103.87, and has come down from there to close the week at 103.49. Dollar outlook The overall bullish view is intact. The dollar index (103.49) … Read more
India’s foreign exchange reserves dipped below the $700 billion mark in the week ended October 11th after staying above this level in the preceding two weeks. The reserves shrunk by $10.746 billion during the reporting week to stand at $690.43 billion as on October 11, 2024. Nuvama Wealth, in a report, said,“This (decline in reserves) … Read more
The rupee slipped 1 paisa to 84.07 against the US dollar in early trade on Friday, as the weakening American currency failed to support the local unit amid negative domestic equity markets and higher crude oil prices. Forex traders said the unabated outflow of foreign funds also weighed on the domestic unit. At the interbank … Read more
The country’s aggressive energy transition and robust economic growth is expected to keep the rupee stable against the dollar even as the US Fed ventures into rate cuts. India has made significant strides in reducing its carbon intensity, with a 33 per cent reduction between 2005 and 2019, as per a UN report. This trend … Read more
The rupee witnessed range-bound trade and appreciated 1 paisa to 84.04 (provisional) against the US dollar on Tuesday, as weak crude oil prices and suspected intervention by the Reserve Bank supported the local currency at lower levels. Forex traders said the rupee was weighed down by significant foreign fund outflows, a negative trend in domestic … Read more