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Rupee falls 5 paise to 94.98 against US dollar during early trade
The rupee traded in a narrow range and fell 5 paise to 94.98 against the US dollar in early trade on Monday, weighed down by elevated crude
Key points
- The Indian Rupee fell 12 paise to settle at 94.50 against the US dollar.
- Brent crude futures rose 1.58 per cent to $110.54 per barrel.
- The dollar index fell 0.21 per cent to 101.56.
Why it matters. Rising crude oil prices and domestic equity market declines are weighing down the rupee, while US treasury yields and dollar weakness provide some support.
The rupee traded in a narrow range and fell 5 paise to 94.98 against the US dollar in early trade on Monday, weighed down by elevated crude oil prices and geopolitical tensions in the Middle East.Forex traders said the rupee opened on a negative note on risk aversion in global markets amid escalation of tensions in the West Asia.
Latest updates
Rupee falls 5 paise to 94.98 against US dollar during early trade
The rupee traded in a narrow range and fell 5 paise to 94.98 against the US dollar in early trade on Monday, weighed down by elevated crude oil prices and geopolitical tensions in the Middle East. Forex traders said the rupee opened on a negative note on risk aversion in global markets amid escalation of tensions in the Middle East. However, softness in the US Dollar and US treasury yields cushion The rupee traded in a narrow range and fell 5 paise to 94.98 against the US dollar in early trade on Monday, weighed down by elevated crude oil prices and geopolitical tensions in the Middle East.Forex traders said the rupee opened on a negative note on risk aversion in global markets amid escalation of tensions in the West Asia. However, softness in the US Dollar and US treasury yields cushioned the downside.At the interbank foreign exchange market, the rupee opened at 94.92, then lost ground to touch 94.98, lower by 5 paise over its previous close.On Friday, the rupee depreciated for the second consecutive day and fell 12 paise to close at 94.93 against the US dollar.The Indian rupee opened slightly lower on elevated crude oil prices and geopolitical tensions in the Middle East. However, softness in the US Dollar and US treasury yields cushioned the downside," said Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan."We expect the rupee to trade with a slight negative bias on ri.
Jio IPO inflows push Indian rupee higher into overbought zone against dollar
The Indian rupee strengthened on Thursday, advancing to 94.35 against the US dollar from its previous close of 94.46. The currency appreciation was driven by chunky foreign capital inflows tied to the Jio Platforms initial public offering. These IPO-related inflows provided critical tailwinds that easily offset the negative pressure exerted by renewed increases in global crude oil prices. Market analysts noted that the strong foreign capital influx has pushed the local currency into a technically overbought zone. The gain was also supported by recent regulatory measures implemented by authorities to prop up the domestic foreign exchange market.
Indian Rupee slips to 94.50 against US Dollar amid rising oil prices
The Indian Rupee slipped to 94.50 against the US dollar amidst mounting macroeconomic pressures driven by surging global crude oil prices and a weak performance on domestic equity indices. Dalal Street traded deeply in the red as key benchmark indices extended losses early in the trading session. Higher import bills for petroleum products combined with foreign institutional capital outflows have created adverse conditions for the domestic currency. Market participants remain cautious as currency traders evaluate the trajectory of global energy markets and central bank interventions. Further economic updates are anticipated as policymakers navigate the ongoing financial volatility.
Rupee falls 12 paise to 94.50 against U.S. dollar in early trade
The decline in the rupee comes as elevated crude oil prices and geopolitical tensions continue to pose risks to the domestic currency.
Rupee rises 29 paise to 94.62 against US dollar in early trade
The Indian rupee appreciated 29 paise to 94.62 against the US dollar in early trade on Tuesday. At the interbank foreign exchange market, the rupee opened at 94.78 before strengthening further to 94.62, compared with the previous close of 94.91. Analysts said the rupee got a boost from foreign dollar inflows tied to the Jio Platforms IPO, which opened for public subscription the same day. The currency's movement reflects investor response to India's largest-ever public offer.