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The Hindu
a day 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
a day 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.
Economic Times
4 days ago
- Business
- Economic Times
Rupee holds steady at 86.06 amid RBI Intervention
Meanwhile, traders are looking forward to the developments on the trade deal between India and the US. The Indian rupee closed nearly unchanged at 86.06 per dollar on Monday, despite initial weakness due to high crude oil prices and geopolitical tensions between Israel and Iran. A softer dollar index and likely RBI intervention limited the rupee's losses. Further weakening is expected due to ongoing geopolitical uncertainties, with traders closely monitoring developments in the India-US trade deal. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: The Indian rupee ended nearly unchanged at 86.06 per dollar despite opening with a weakening bias and trading to 86.23 on Monday. A fall in the dollar index and likely intervention by the Reserve Bank of India helped contain losses in the currency, traders rupee opened at 86.19 per dollar, 10 paisa weaker from its previous close of 86.08/$1 as high crude oil prices continued to weigh on the currency and as Israel and Iran continued attacks over the weekend. The currency traded in the range of 85.95/$1 to 86.23/$1 on Monday."There was dollar demand seen from foreign investors and oil companies to cover their oil payments for the next few days as oil prices were up since the Iran-Israel confrontation began," said Anil Bhansali, head of treasury at Finrex Treasury a mildly softer dollar index at 97 levels from 98 seen at the start of the day helped contain by the Reserve Bank of India above 86.20/$1 levels also helped ease the pressure on rupee, traders the coming days, weakening bias is expected to continue for the rupee due to geopolitical uncertainties.'There may continue to remain some pressure on the rupee till the point the geopolitical uncertainties prevail. For USD-INR, immediate support comes at 85.60 levels while a break above 86.23 may open doors for 86.50 levels,' said Kunal Sodhani, head of treasury, forex and rates at Shinhan Bank traders are looking forward to the developments on the trade deal between India and the US.
Time of India
4 days ago
- Business
- Time of India
Rupee holds steady at 86.06 amid RBI Intervention
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai: The Indian rupee ended nearly unchanged at 86.06 per dollar despite opening with a weakening bias and trading to 86.23 on Monday. A fall in the dollar index and likely intervention by the Reserve Bank of India helped contain losses in the currency, traders rupee opened at 86.19 per dollar, 10 paisa weaker from its previous close of 86.08/$1 as high crude oil prices continued to weigh on the currency and as Israel and Iran continued attacks over the weekend. The currency traded in the range of 85.95/$1 to 86.23/$1 on Monday."There was dollar demand seen from foreign investors and oil companies to cover their oil payments for the next few days as oil prices were up since the Iran-Israel confrontation began," said Anil Bhansali, head of treasury at Finrex Treasury a mildly softer dollar index at 97 levels from 98 seen at the start of the day helped contain by the Reserve Bank of India above 86.20/$1 levels also helped ease the pressure on rupee, traders the coming days, weakening bias is expected to continue for the rupee due to geopolitical uncertainties.'There may continue to remain some pressure on the rupee till the point the geopolitical uncertainties prevail. For USD-INR, immediate support comes at 85.60 levels while a break above 86.23 may open doors for 86.50 levels,' said Kunal Sodhani, head of treasury, forex and rates at Shinhan Bank traders are looking forward to the developments on the trade deal between India and the US.
