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Business Standard
10 hours ago
- Business
- Business Standard
Rupee rises after three-day slide on likely FII inflows; ends at 86.59/$
The Indian Rupee ended higher on Friday, breaking a three-day losing streak, with US President Donald Trump taking two weeks to decide on potential action against Iran. The domestic currency rose 14 paise to end at 86.59 against the dollar, after closing at 86.73 on Thursday, according to Bloomberg. The currency has fallen 1.17 per cent so far this month. During the session, most Asian currencies inched up, with the Korean won leading gains. The uncertainty around the Iran-Israel conflict continues, with US President Trump delaying the country's response to Iran by two weeks, according to analysts. The White House said Trump still considers negotiations with Iran an option and will decide on supporting Israel within two weeks, leaving investors uncertain. However, Israel said it destroyed nearly half of Iran's missile launchers, adding that its strikes create the conditions for the downfall of the Iranian government. Meanwhile, potential inflows into equities also supported the currency's movement. Friday promises to be an action-packed day with two major semi-annual index rebalances lined up, the Sensex and the FTSE, Nuvama said in a note, anticipating large foreign inflows. Foreign portfolio investors (FPIs) have bought equities worth ₹3308.32 crore over the past three days. Most of the selling pressure has been in the mid- and small-cap segments, while broader indices have remained stable despite geopolitical tensions, according to Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP. "Inflows are expected this week and next, especially with the upcoming HDB Financial Services IPO." Rupee traded positively, supported by softer crude oil prices and a weaker dollar index, according to Jateen Trivedi, VP research analyst - commodity and currency at LKP Securities. Continued foreign and domestic inflows into Indian markets have helped limit the rupee's downside despite ongoing geopolitical tensions over the past few months, he said. "The rupee is expected to trade in a range of 86.00 to 86.85."
Economic Times
15 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
16 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.
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Business Standard
16 hours ago
- Business
- Business Standard
Rupee snaps three-day losing streak; opens 9 paise higher at 86.64/$
The Indian Rupee snapped a three-day losing streak on Friday, a day after hitting a three-month low, as tensions in the Iran-Israel conflict escalated. The domestic currency rose 9 paise to open at 86.64 against the dollar, after closing at 86.73 on Thursday, according to Bloomberg. During the previous session, the currency fell as low as 86.90, taking the fall to 1.19 per cent so far this month. The rupee is down 0.75 per cent this week through Thursday, putting it on track for its worst weekly performance in one and a half months, according to Reuters. The uncertainty around the Iran-Israel conflict continues, with US President Trump delaying the country's response to Iran by two weeks, according to analysts. Crude oil prices fell after a volatile session after Trump's two-week decision. Brent crude price was down 2.46 per cent at $76.91 per barrel, while WTI crude prices were higher by 0.71 per cent at 75.67, as of 9:20 AM IST. The rupee, which touched a three-month low of 86.90 on Thursday, is set to open at 86.62 this morning and is expected to trade in the 86.35–86.95 range, according to Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP. Exporters are seeing favourable levels to sell dollars, especially with the possibility of the rupee strengthening back to 85.50–85.75 in July if the conflict eases, Bhansali said. "Importers, on the other hand, should wait to hedge and can consider covering immediate cash requirements around 86.50, with better hedging opportunities likely below 86." Foreign portfolio investors (FPIs) have bought equities worth ₹3308.32 crore over the past three days. Most of the selling pressure has been in the mid- and small-cap segments, while broader indices have remained stable despite geopolitical tensions, Bhansali said. "Inflows are expected this week and next, especially with the upcoming HDB Financial Services IPO." The US dollar index, which measures the greenback against a basket of six major currencies, was down 0.31 per cent at 98.60. The Index remains under pressure, unable to sustain above 100, despite global risk aversion, Bhansali noted.
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.
