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Economic Times
20 hours ago
- Business
- Economic Times
Rupee rises 13 paise to 86.60 against US dollar in early trade
Rupee rose 13 paise to 86.60 against the US dollar in early trade on Friday over a decline in global crude oil prices and a weakening greenback. ADVERTISEMENT The rupee had lost 30 paise to close at an over two-month low of 86.73 against the US dollar on Thursday, logging a combined loss of 69 paise during the past three sessions. At the interbank foreign exchange, the rupee opened at 86.65 against the US dollar before rising to 86.60, up 13 paise from its previous close. "The uncertainty of Iran-Israel war remains, and US President Donald Trump has only postponed the US entry by 2 weeks... the rupee is expected to move between 86.35/95. Exporters are getting a good chance to sell dollars as when the fighting ends we may see the rupee back to 85.50/75 levels, which could happen in July," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. "Importers need to wait for hedging, while exporters can keep selling at 86.85/90 levels. FPIs have been small buyers of equity in the last three days, and the selling has mostly happened in mid-cap and small caps as indices have not fallen much despite the war in the Middle East," he said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.31 per cent lower at 98.59. ADVERTISEMENT In the domestic equity market, the 30-share BSE Sensex climbed 289.43 points to 81,651.30 while Nifty was up 88.25 points to 24,881.50. Brent crude, the global oil benchmark, declined 2.46 per cent to USD 76.91 per barrel in futures trade. ADVERTISEMENT "As the White House release said that Trump will decide in two weeks whether to attack Iran or not, there was some relief in various asset classes with Brent oil down to USD 77.16 per barrel with prices having jumped by almost 3 per cent overnight," Bhansali said. Foreign institutional investors (FIIs) purchased equities worth Rs 934.62 crore on a net basis on Thursday, according to exchange data. (You can now subscribe to our ETMarkets WhatsApp channel)
The Hindu
20 hours ago
- Business
- The Hindu
Rupee rises 13 paise to 86.60 against U.S. dollar in early trade
Rupee rose 13 paise to 86.60 against the U.S. dollar in early trade on Friday (June 20, 2025) over a decline in global crude oil prices and a weakening greenback. The rupee had lost 30 paise to close at an over two-month low of 86.73 against the U.S. dollar on Thursday, logging a combined loss of 69 paise during the past three sessions. At the interbank foreign exchange, the rupee opened at 86.65 against the US dollar before rising to 86.60, up 13 paise from its previous close. "The uncertainty of Iran-Israel war remains, and US President Donald Trump has only postponed the US entry by 2 weeks... the rupee is expected to move between 86.35/95. Exporters are getting a good chance to sell dollars as when the fighting ends we may see the rupee back to 85.50/75 levels, which could happen in July," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. "Importers need to wait for hedging, while exporters can keep selling at 86.85/90 levels. FPIs have been small buyers of equity in the last three days, and the selling has mostly happened in mid-cap and small caps as indices have not fallen much despite the war in the Middle East," he said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.31 per cent lower at 98.59. In the domestic equity market, the 30-share BSE Sensex climbed 289.43 points to 81,651.30 while Nifty was up 88.25 points to 24,881.50. Brent crude, the global oil benchmark, declined 2.46 per cent to USD 76.91 per barrel in futures trade. "As the White House release said that Trump will decide in two weeks whether to attack Iran or not, there was some relief in various asset classes with Brent oil down to USD 77.16 per barrel with prices having jumped by almost 3 per cent overnight," Bhansali said. Foreign institutional investors (FIIs) purchased equities worth Rs 934.62 crore on a net basis on Thursday, according to exchange data.
Economic Times
2 days ago
- Business
- Economic Times
Rupee falls 14 paise to 86.57 against US dollar in early trade
The rupee depreciated 14 paise to 86.57 against the US dollar in early trade on Thursday, as safe-haven demand amid prevailing risk-off sentiments pushed the dollar index higher. ADVERTISEMENT Forex traders said geopolitical uncertainties, prevailing risk-off sentiments, and elevated crude oil prices collectively pressured the local currency, while robust dollar demand from oil importers dented investment sentiments further. At the interbank foreign exchange, the domestic unit opened at 86.54 against the greenback, then touched an early high of 86.49 and a low of 86.57 against the greenback in initial trade. On Wednesday, the rupee depreciated 9 paise to close at 86.43 against the US dollar."As uncertainty grips the market, the rupee could remain on the weak side in the days to come. For the day, the range is expected between 86.25/75 as we await happenings in the Middle East, as also on the trade front," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors the US FED kept interest rates on hold despite Donald Trump's demand to cut them by 250 bps. ADVERTISEMENT "The signals from FED were mixed as they retained projections for 2 quarter-point rate cuts this year," Bhansali the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.06 per cent at 98.96. ADVERTISEMENT Brent crude, the global oil benchmark, fell 0.26 per cent to USD 76.50 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex advanced 33.49 points, or 0.04 per cent, to 81,478.15, while the Nifty rose 22.90 points, or 0.09 per cent, to 24,836.45. ADVERTISEMENT Foreign institutional investors (FIIs) purchased equities worth Rs 890.93 crore on a net basis on Wednesday, according to exchange data. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
2 days ago
- Business
- Time of India
Rupee falls 14 paise to 86.57 against US dollar in early trade
The rupee depreciated 14 paise to 86.57 against the US dollar in early trade on Thursday, as safe-haven demand amid prevailing risk-off sentiments pushed the dollar index higher. Forex traders said geopolitical uncertainties , prevailing risk-off sentiments, and elevated crude oil prices collectively pressured the local currency, while robust dollar demand from oil importers dented investment sentiments further. At the interbank foreign exchange, the domestic unit opened at 86.54 against the greenback, then touched an early high of 86.49 and a low of 86.57 against the greenback in initial trade. On Wednesday, the rupee depreciated 9 paise to close at 86.43 against the US dollar. "As uncertainty grips the market, the rupee could remain on the weak side in the days to come. For the day, the range is expected between 86.25/75 as we await happenings in the Middle East, as also on the trade front," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. Live Events Meanwhile, the US FED kept interest rates on hold despite Donald Trump's demand to cut them by 250 bps. "The signals from FED were mixed as they retained projections for 2 quarter-point rate cuts this year," Bhansali said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.06 per cent at 98.96. Brent crude, the global oil benchmark, fell 0.26 per cent to USD 76.50 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex advanced 33.49 points, or 0.04 per cent, to 81,478.15, while the Nifty rose 22.90 points, or 0.09 per cent, to 24,836.45. Foreign institutional investors (FIIs) purchased equities worth Rs 890.93 crore on a net basis on Wednesday, according to exchange data.
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Business Standard
2 days ago
- Business
- Business Standard
Rupee weakens for third day on Iran-Israel conflict; opens lower at 86.53/$
The Indian Rupee fell for the third consecutive session as tensions in West Asia and the US Federal Reserve Chair's warning of more inflation ahead weighed on the currency. The domestic currency depreciated 6 paise to open at 86.53 against the dollar, the lowest level since April 9 this year, according to Bloomberg. The currency has fallen by 1.13 per cent so far this month. The Indian rupee, which closed lower yesterday, is likely to open flat as demand for the US dollar from oil importers and foreign portfolio investors remains elevated, according to Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP. "The Reserve Bank of India (RBI) was seen selling dollars at 85.35 and later at 85.55 to curb volatility." With uncertainty persisting, the rupee may stay under pressure in the coming days, Bhansali said. "For the day, the expected trading range is between 86.25 and 86.75, with focus on developments in the Middle East and on the trade front." As missile exchanges between Iran and Israel continued, Iranian Supreme Leader Ayatollah Ali Khamenei rejected US President Donald Trump's calls for unconditional surrender. 'The Americans should know that any US military intervention will undoubtedly be accompanied by irreparable damage,' Khamenei warned. Trump, meanwhile, said on Wednesday that his patience with Iran had run out, with Bloomberg reporting that US officials are preparing for a possible strike on Iran in the coming days. Crude oil prices remained volatile after these developments. Brent crude price was down 0.37 per cent at $76.42 per barrel, while WTI crude prices were lower by 0.19 per cent at 75.00, as of 9:08 AM IST. Meanwhile, the Fed left rates unchanged and downgraded its growth estimates while projecting higher inflation. 'The cost of the tariff has to be paid, and some of it will fall on the end consumer,' Powell said. The dollar index, which measures the greenback against a basket of six major currencies, was up 0.14 per cent at 99.04. "The currency is expected to remain volatile in the range of 85.75 to 86.85, with global risk factors and trade uncertainties exerting pressure," according to Jateen Trivedi, VP research analyst - commodity and currency at LKP Securities. However, strength in domestic business activity and expectations of a good monsoon could offer stability to the rupee, he added.
