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The Hindu
2 days ago
- Business
- The Hindu
Rupee falls 30 paise to close at 86.73 against U.S. dollar
The rupee registered the third straight session of fall and depreciated 30 paise to close at 86.73 (provisional) against U.S. dollar on Thursday (June 19, 2025), weighed down by the strength of the American currency in the overseas markets and rising crude oil prices. Forex traders said the rupee depreciated for the third consecutive day, logging a loss of 69 paise, primarily due to prevailing risk-averse market sentiment and dollar demand from importers, fuelled by ongoing geopolitical uncertainties. Moreover, muted domestic equity markets and rising geopolitical tensions in the Middle East also pressurised the rupee, they added. At the interbank foreign exchange, the domestic unit witnessed heavy volatility. It opened at 86.54 against the greenback and touched an intra-day high of 86.49 and a low of 86.89 against the greenback during the day. At the end of Thursday's trading session, the local unit was at 86.73 (provisional), down 30 paise over its previous closing price. On Wednesday, the rupee depreciated 9 paise to close at 86.43 against the U.S. dollar. "We expect the rupee to trade with a negative bias as rising geopolitical tensions in the Middle East may pressure the domestic currency. Strong U.S. dollar and rising global crude oil prices may also put downside pressure on the rupee," Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan said, adding that the USD-INR spot price is expected to trade in a range of 86.50 to 87.20. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.02% at 98.92, on safe-haven demand, but momentum remained capped as investors digested the Fed's reluctance to act decisively. The U.S. Federal Reserve kept interest rates on hold despite Donald Trump's demand to cut them by 250 bps. Brent crude, the global oil benchmark, rose 0.25% to $76.89 per barrel in futures trade. Elevated crude oil prices weighed down on the rupee as higher oil import costs and rising global risk aversion will dent sentiment and widen India's current account stress, traders said. In the domestic equity market, the 30-share BSE Sensex declined 82.79 points, or 0.10%, to 81,361.87, while the Nifty fell 18.80 points, or 0.08%, to 24,793.25. Foreign institutional investors (FIIs) purchased equities worth ₹890.93 crore on a net basis on Wednesday, according to exchange data.
Mint
2 days ago
- Business
- Mint
Rupee falls 30 paise to close at 86.73 against US dollar
Mumbai, The rupee registered the third straight session of fall and depreciated 30 paise to close at 86.73 against US dollar on Thursday, weighed down by the strength of the American currency in the overseas markets and rising crude oil prices. Forex traders said the rupee depreciated for the third consecutive day, logging a loss of 69 paise, primarily due to prevailing risk-averse market sentiment and dollar demand from importers, fuelled by ongoing geopolitical uncertainties. Moreover, muted domestic equity markets and rising geopolitical tensions in the Middle East also pressurised the rupee, they added. At the interbank foreign exchange, the domestic unit witnessed heavy volatility. It opened at 86.54 against the greenback and touched an intra-day high of 86.49 and a low of 86.89 against the greenback during the day. At the end of Thursday's trading session, the local unit was at 86.73 , down 30 paise over its previous closing price. On Wednesday, the rupee depreciated 9 paise to close at 86.43 against the US dollar. "We expect the rupee to trade with a negative bias as rising geopolitical tensions in the Middle East may pressure the domestic currency. Strong US dollar and rising global crude oil prices may also put downside pressure on the rupee," Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan said, adding that the USD-INR spot price is expected to trade in a range of 86.50 to 87.20. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.02 per cent at 98.92, on safe-haven demand, but momentum remained capped as investors digested the Fed's reluctance to act decisively. The US Federal Reserve kept interest rates on hold despite Donald Trump's demand to cut them by 250 bps. Brent crude, the global oil benchmark, rose 0.25 per cent to USD 76.89 per barrel in futures trade. Elevated crude oil prices weighed down on the rupee as higher oil import costs and rising global risk aversion will dent sentiment and widen India's current account stress, traders said. In the domestic equity market, the 30-share BSE Sensex declined 82.79 points, or 0.10 per cent, to 81,361.87, while the Nifty fell 18.80 points, or 0.08 per cent, to 24,793.25. Foreign institutional investors purchased equities worth ₹ 890.93 crore on a net basis on Wednesday, according to exchange data. This article was generated from an automated news agency feed without modifications to text.
The Print
2 days ago
- Business
- The Print
Rupee falls 9 paise to close at 86.43 against US dollar
Moreover, elevated global crude oil prices and selling pressure from foreign investors also weighed on the local unit, they said, adding that the domestic markets are falling on risk aversion in the global markets amid the ongoing geopolitical tensions in the Middle East. Forex traders said the rupee dwindled amid weak domestic equity markets and the broad strength of the dollar. Mumbai, Jun 18 (PTI) The rupee depreciated 9 paise to close at 86.43 against the US dollar on Wednesday, dragged down by risk-off sentiments and elevated crude oil prices. At the interbank foreign exchange, the domestic unit witnessed heavy volatility. It opened at 86.42 against the greenback and touched an intra-day high of 86.25 and a low of 86.57 against the greenback during the day. At the end of Wednesday's trading session, the local unit was at 86.43, down 9 paise over its previous closing price. On Tuesday, the rupee declined 30 paise to close at 86.34 against the greenback. 'We expect the rupee to trade with a negative bias on risk aversion in the global markets and worries over rising crude oil prices. Escalating geopolitical tensions in the Middle East may weigh on the rupee. 'However, any de-escalation of tensions may see a recovery in the global risk assets. Traders may take cues from weekly unemployment claims data from the US. Traders may also await the Federal Open Market Committee (FOMC) meeting outcome. The US Federal Reserve is expected to keep interest rates unchanged. USDINR spot price is expected to trade in a range of 86.15 to 86.90,' said Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan. According to Dilip Parmar, Senior Research Analyst, HDFC Securities, the rupee depreciated for the second consecutive day, primarily due to prevailing risk-averse market sentiment and anticipated dollar outflows, which are fuelled by ongoing geopolitical uncertainties. 'The negative carry return is also contributing to the rupee's downward pressure,' he said and added that the spot USD-INR pair is expected to find support around 85.90, while encountering resistance at the 86.70 level. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.17 per cent at 98.65. Brent crude, the global oil benchmark, fell 0.86 per cent to USD 75.79 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex declined 138.64 points, or 0.17 per cent, to close at 81,444.66, while the Nifty fell 41.35 points, or 0.17 per cent, to 24,812.05. Foreign institutional investors (FIIs) purchased equities worth Rs 890.93 crore on a net basis on Wednesday, according to exchange data. PTI DRR HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
3 days ago
- Business
- Time of India
Currency watch: Rupee slips 13 paise to 86.47 against US dollar, crude prices and Middle East tensions weigh on sentiment
The rupee depreciated 13 paise to close at 86.47 against the US dollar on Wednesday, hurt by persistent risk-off sentiment, elevated crude oil prices, and geopolitical tensions in the Middle East. Tired of too many ads? go ad free now The local currency opened at 86.42 at the interbank foreign exchange and saw high intraday volatility, touching a high of 86.25 and a low of 86.57 during the session before settling at 86.47, a 13-paise drop from Tuesday's close of 86.34, PTI reported. Forex traders attributed the rupee's weakness to selling pressure from foreign investors, broad dollar strength, and weakness in domestic equities. 'The rupee may continue to trade with a negative bias amid global risk aversion and worries over rising crude oil prices. Any escalation in Middle East tensions could further weigh on the rupee,' said Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan. Choudhary added that traders are likely to take cues from weekly US unemployment data and the outcome of the Federal Open Market Committee (FOMC) meeting, where the US Fed is expected to hold interest rates steady. The dollar index, which tracks the greenback against a basket of six major currencies, was down 0.17% at 98.65. In commodities, Brent crude futures slipped 0.86% to USD 75.79 per barrel, offering limited relief after recent gains. On the domestic front, equity markets remained under pressure, with the BSE Sensex falling 138.64 points to 81,444.66 and the Nifty50 losing 41.35 points to close at 24,812.05. Despite the weak rupee, foreign institutional investors (FIIs) remained net buyers, purchasing Rs 1,482.77 crore worth of equities on Tuesday, according to exchange data.
The Print
4 days ago
- Business
- The Print
Rupee rises 7 paise to close at 86.04 against US dollar
At the interbank foreign exchange, the local unit opened at 86.16 against the greenback and traded in the range of 85.94-86.24 before closing at 86.04, up 7 paise from its previous close. However, decline in exports, along with foreign fund outflows, capped further gains in the local unit, forex traders said. Mumbai, Jun 16 (PTI) The rupee rose 7 paise to settle at 86.04 against the US dollar on Monday amid a strong show at the domestic equity markets, weakening dollar, and easing of global crude oil prices. The rupee had plummeted 59 paise to 86.11 against the US dollar on Friday. The rupee regained, 'but there was good dollar buying at lower levels as markets awaited the outcome of the continuing Iran-Israel war in the Middle East', Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said, adding that the rupee level could be in a wider range of 85.75 to 86.50 on Tuesday. According to Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, the Indian rupee gained on weak US dollar and surge in domestic markets. A decline in crude oil prices also supported the rupee. However, geopolitical tensions in the Middle East capped sharp gains. 'Traders may take cues from the Empire State Manufacturing Index data from the US. USD-INR spot price is expected to trade in a range of Rs 85.70 to Rs 86.40,' Choudhary added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.20 per cent to 97.98. After registering a positive growth for two months, India's exports slipped into negative territory again, contracting 2.17 per cent year-on-year to USD 38.73 billion in May due to a fall in global petroleum prices, while trade deficit narrowed at USD 21.88 billion during the month, the latest government data showed on Monday. Imports declined 1.7 per cent year-on-year to USD 60.61 billion in May. Wholesale price inflation (WPI) in the country declined to 0.39 per cent in May as prices of food articles, manufactured products, and fuel eased, as per government data. WPI-based inflation was 0.85 per cent in April. It was 2.74 per cent in May last year. According to the monthly data released by the Ministry of Statistics & Programme Implementation on Monday, the rate of unemployment in the country rose to 5.6 per cent in May from 5.1 per cent in April this year mainly due to seasonal variation. In the domestic equity market, the 30-share BSE Sensex jumped 677.55 points to settle at 81,796.15 while Nifty climbed 227.90 points to 24,946.50. The prices of Brent crude — the global oil benchmark — dipped 0.79 per cent to 73.64 per barrel in futures trade after rising sharply over the past few days owing to the escalating Israel-Iran conflict. Foreign institutional investors (FIIs) offloaded equities worth Rs 2,539.42 crore on a net basis on Monday, according to exchange data. PTI TRB HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
