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Time of India
7 hours ago
- Business
- Time of India
Rupee gains slightly to cap week clouded by Middle East conflict
The Indian rupee ended modestly higher on Friday but fell for a second consecutive week as the conflict between Iran and Israel remained the key driver for global markets and kept energy prices elevated, pressuring oil-sensitive currencies in Asia. The rupee ended at 86.5850, up from its close of 86.7225 in the previous session. It was down nearly 0.6% on the week. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo While escalating tensions in the Middle East kept risk appetite under pressure for much of the week, markets found some relief on Friday after U.S. President Donald Trump pushed back a decision on U.S. military involvement in the Israel-Iran war. Brent crude oil prices declined more than 2% on the day after rallying to a five-month high of $79.04 per barrel earlier in the week. Most equity gauges in Asia logged gains, with India's benchmark equity indexes, the BSE Sensex and Nifty 50 , rising 1.3% each. Live Events Analysts pointed out that oil prices and the Middle East conflict would likely remain the key drivers for FX markets in the near term. On the day, the dollar index was a tad lower at 98.6 but was on course for a weekly gain. "The FX market has taken the somewhat lower probability of the U.S. intervening in Iran already this weekend as an opportunity to re-enter USD short positions, especially against European currencies," ING Bank said in a note. "This confirms that a constant flow of oil-positive, risk-negative geopolitical news is needed to keep the dollar supported," the note added. For the rupee, meanwhile, traders will also gauge the extent of portfolio inflows that a large IPO scheduled next week will draw. Sizeable inflows could help the rupee hold ground above the 86.50 mark while a sharp rise in crude oil prices could build momentum for a fall below 87, a trader at a foreign bank said.
Economic Times
8 hours ago
- Business
- Economic Times
Rupee gains slightly to cap week clouded by Middle East conflict
The Indian rupee ended modestly higher on Friday but fell for a second consecutive week as the conflict between Iran and Israel remained the key driver for global markets and kept energy prices elevated, pressuring oil-sensitive currencies in Asia. ADVERTISEMENT The rupee ended at 86.5850, up from its close of 86.7225 in the previous session. It was down nearly 0.6% on the week. While escalating tensions in the Middle East kept risk appetite under pressure for much of the week, markets found some relief on Friday after U.S. President Donald Trump pushed back a decision on U.S. military involvement in the Israel-Iran war. Brent crude oil prices declined more than 2% on the day after rallying to a five-month high of $79.04 per barrel earlier in the week. Most equity gauges in Asia logged gains, with India's benchmark equity indexes, the BSE Sensex and Nifty 50 , rising 1.3% each. Analysts pointed out that oil prices and the Middle East conflict would likely remain the key drivers for FX markets in the near term. On the day, the dollar index was a tad lower at 98.6 but was on course for a weekly gain. ADVERTISEMENT "The FX market has taken the somewhat lower probability of the U.S. intervening in Iran already this weekend as an opportunity to re-enter USD short positions, especially against European currencies," ING Bank said in a note. "This confirms that a constant flow of oil-positive, risk-negative geopolitical news is needed to keep the dollar supported," the note added. ADVERTISEMENT For the rupee, meanwhile, traders will also gauge the extent of portfolio inflows that a large IPO scheduled next week will draw. Sizeable inflows could help the rupee hold ground above the 86.50 mark while a sharp rise in crude oil prices could build momentum for a fall below 87, a trader at a foreign bank said. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
Reuters
8 hours ago
- Business
- Reuters
Rupee gains slightly to cap week clouded by Middle East conflict
MUMBAI, June 20 (Reuters) - The Indian rupee ended modestly higher on Friday but fell for a second consecutive week as the conflict between Iran and Israel remained the key driver for global markets and kept energy prices elevated, pressuring oil-sensitive currencies in Asia. The rupee ended at 86.5850, up from its close of 86.7225 in the previous session. It was down nearly 0.6% on the week. While escalating tensions in the Middle East kept risk appetite under pressure for much of the week, markets found some relief on Friday after U.S. President Donald Trump pushed back a decision on U.S. military involvement in the Israel-Iran war. Brent crude oil prices declined more than 2% on the day after rallying to a five-month high of $79.04 per barrel earlier in the week. Most equity gauges in Asia logged gains, with India's benchmark equity indexes, the BSE Sensex (.BSESN), opens new tab and Nifty 50 (.NSEI), opens new tab, rising 1.3% each. Analysts pointed out that oil prices and the Middle East conflict would likely remain the key drivers for FX markets in the near term. On the day, the dollar index was a tad lower at 98.6 but was on course for a weekly gain. "The FX market has taken the somewhat lower probability of the U.S. intervening in Iran already this weekend as an opportunity to re-enter USD short positions, especially against European currencies," ING Bank said in a note. "This confirms that a constant flow of oil-positive, risk-negative geopolitical news is needed to keep the dollar supported," the note added. For the rupee, meanwhile, traders will also gauge the extent of portfolio inflows that a large IPO scheduled next week will draw. Sizeable inflows could help the rupee hold ground above the 86.50 mark while a sharp rise in crude oil prices could build momentum for a fall below 87, a trader at a foreign bank said.
Mint
12-06-2025
- Business
- Mint
Rupee ends a tad lower, hurt by corporate dollar bids, outflows
MUMBAI, June 12 (Reuters) - The Indian rupee weakened slightly on Thursday, pressured by corporate dollar demand and likely portfolio outflows even as broad-based dollar weakness boosted its regional peers. The rupee closed at 85.60 against the U.S. dollar, down 0.1% from its close at 85.51 in the previous session. Asian currencies rose with the Taiwanese dollar leading gains with a 1.6% rise while the offshore Chinese yuan rose 0.2%. The dollar index, meanwhile, fell 0.4% to 98, its lowest level in over a month. The rupee was unable to benefit from a broadly weaker dollar in the face of dollar bids from local companies and foreign banks, likely on behalf of custodial clients, traders said. The local currency has been a laggard among its regional peers over 2025 as well, with analysts citing India's external investment deficit among the hurdles that have held it back. On the day, India's benchmark equity indexes, the BSE Sensex and Nifty 50, fell about 1% each on the day, as ambiguity over the U.S-China trade deal and rising Middle East tensions dampened risk appetite. Crude oil prices pulled back on the day after rising over 4% in the previous session in light of Iran's threat to strike U.S. bases in the Middle East region if nuclear talks fail. "Higher oil prices are a dollar positive by way of the U.S. comparative advantage in energy independence," ING Bank said in a note. "Any further developments here could see the dollar favoured for its liquidity – although the yen and Swiss franc would be in demand too," ING said. Dollar-rupee forward premiums, meanwhile, ticked up on the back of a rise in bets on a rate cut by the U.S. Federal Reserve in September after data released on Wednesday showed that U.S. consumer prices rose less-than-expected in May. (Reporting by Jaspreet Kalra; Editing by Mrigank Dhaniwala)
Economic Times
12-06-2025
- Business
- Economic Times
Rupee ends a tad lower, hurt by corporate dollar bids, outflows
The Indian rupee weakened slightly to 85.60 against the dollar due to corporate demand and potential portfolio outflows. The Indian rupee weakened slightly to 85.60 against the dollar due to corporate demand and potential portfolio outflows, despite a broadly weaker dollar boosting Asian currencies. The rupee underperformed regional peers, weighed down by India's external investment deficit. Equity indexes fell amid U.S.-China trade deal uncertainty and Middle East tensions. Dollar-rupee forward premiums rose as bets on a U.S. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Indian rupee weakened slightly on Thursday, pressured by corporate dollar demand and likely portfolio outflows even as broad-based dollar weakness boosted its regional rupee closed at 85.60 against the U.S. dollar, down 0.1% from its close at 85.51 in the previous session. Asian currencies rose with the Taiwanese dollar leading gains with a 1.6% rise while the offshore Chinese yuan rose 0.2%. The dollar index, meanwhile, fell 0.4% to 98, its lowest level in over a rupee was unable to benefit from a broadly weaker dollar in the face of dollar bids from local companies and foreign banks, likely on behalf of custodial clients, traders local currency has been a laggard among its regional peers over 2025 as well, with analysts citing India's external investment deficit among the hurdles that have held it the day, India's benchmark equity indexes, the BSE Sensex and Nifty 50, fell about 1% each on the day, as ambiguity over the U.S-China trade deal and rising Middle East tensions dampened risk appetite. Crude oil prices pulled back on the day after rising over 4% in the previous session in light of Iran's threat to strike U.S. bases in the Middle East region if nuclear talks fail."Higher oil prices are a dollar positive by way of the U.S. comparative advantage in energy independence," ING Bank said in a note."Any further developments here could see the dollar favoured for its liquidity - although the yen and Swiss franc would be in demand too," ING forward premiums, meanwhile, ticked up on the back of a rise in bets on a rate cut by the U.S. Federal Reserve in September after data released on Wednesday showed that U.S. consumer prices rose less-than-expected in May.
