Latest news with #NIFTY50
Business Standard
10 hours ago
- Business
- Business Standard
INR rallies against US dollar after recent slide
Indian Rupee saw good gains today as firm local equities boosted the currency after it tested a three-month low against the US dollar in last session. The US dollar index is witnessing choppy moves as it holds around 98.30 mark. INR approached at 86.56 per US dollar, up 17 paise on the day. Meanwhile, global geopolitical scenario remains uncertain but the Crude oil prices are mostly holding in a range this week following a freak spike to six-month high. This is capping weakness in INR. NIFTY50 index also spiked today, hitting one-week high above 25000 mark and offered good support to INR. The dollar index eased from one-week high.
Business Standard
15 hours ago
- Business
- Business Standard
INR supported as NIFTY scales up one-week top
Indian Rupee edged up today as firm local equities boosted the currency after it tested a three-month low against the US dollar in last session. The US dollar index is witnessing choppy moves as it holds around 98.30 mark. INR started the session on a firm note and currently trades at 86.61 per US dollar, up 12 paise on the day. Meanwhile, global geopolitical scenario remains uncertain but the Crude oil prices are mostly holding in a range this week following a freak spike to six-month high. This is capping weakness in INR. NIFTY50 index also spiked today, hitting one-week high above 25000 mark and offered good support to INR. On the NSE, USD/INR futures are currently quoting at 86.64, down 0.15% on the day.
Business Standard
09-06-2025
- Business
- Business Standard
Indian Rupee: Seen extending upside amid dollar weakness
The Indian rupee is seen extending upside in opening trades on Monday as weak dollar, lower oil prices and expectation of a positive start to local equities support. Rupee opened higher at Rs 85.61 per dollar and hit a low of 85.60 so far during the day. On Friday, INR saw good gains against the US dollar after the Reserve Bank of India (RBI) cut interest rates by half a percent, continuing to witness good support around 86 threshold. RBI has slashed its key lending rate, or the repo rate, by 50 basis points to 5.5% amid softening inflation. INR added 16 paise at 85.64 per US dollar. Local stocks soared following this with the NIFTY50 index zooming up 1% to hit 25K mark. Reserve Bank of India (RBI) Governor Sanjay Malhotra also noted that with the moderation in trade deficit in Q4:2024-25, alongside strong services exports and remittance receipts, the current account deficit (CAD) for 2024-25 is expected to remain low. On the NSE, USDINR pair eased slightly to 85.73 tracking loses in dollar overseas.
Business Standard
06-06-2025
- Business
- Business Standard
INR rebounds as current account deficit expected to remain low
Indian Rupee saw good gains against the US dollar today after the Reserve Bank of India (RBI) cut interest rates by half a percent, continuing to witness good support around 86 threshold. RBI has slashed its key lending rate, or the repo rate, by 50 basis points to 5.5% amid softening inflation. Local stocks soared following this with the NIFTY50 index zooming up 1% to hit 25K mark. Reserve Bank of India (RBI) Governor Sanjay Malhotra has noted today that with the moderation in trade deficit in Q4:2024-25, alongside strong services exports and remittance receipts, the current account deficit (CAD) for 2024-25 is expected to remain low. INR added 16 paise at 85.64 per US dollar. The dollar index is holding just under 99 mark with focus on US nonfarm jobs data due on Friday.
Business Standard
06-06-2025
- Business
- Business Standard
INR flips after testing 86 mark following RBI rate cut
Indian Rupee stabilized around 85.80 per US dollar mark today after the Reserve Bank of India (RBI) cut interest rates by half a percent, continuing to witness good support around 86 threshold. A good recovery was seen in the US dollar index as it has edged up near 99 mark and this capped gains in INR. RBI has slashed its key lending rate, or the repo rate, by 50 basis points to 5.5% amid softening inflation. Local stocks soared following this with the NIFTY50 index zooming up 1% to hit 25K mark. INR currently quotes flat around 85.80 per US dollar. On the NSE, USD/INR futures are trading at 85.83, down 0.06% on the day after a spike to 86.05 mark.
