Rupee rises 1 paisa to close at 86.40 against US dollar
Forex traders said uncertainty over the India-US trade deal has been an overhang for the forex market, leaving the rupee trading in a tight range. Moreover, a negative trend in domestic equities and foreign fund outflows weighed on investors' sentiments and restricted the upmove of the local unit.
At the interbank foreign exchange, the domestic unit opened at 86.33 against the greenback and touched an intra-day high of 86.24 and a low of 86.42.
At the end of Thursday's trading session, the local unit settled at 86.40 (provisional), higher by 1 paisa over its previous closing price.
On Wednesday, the rupee settled with a loss of 3 paise at 86.41 against the dollar.
'We expect the rupee to trade with a slight negative bias amid geopolitical tensions between Thailand and Cambodia and positive crude oil prices. FII outflows may also weigh on the rupee," Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan said.
'Optimism over US-EU trade deal and weak US Dollar may support the rupee at lower levels. Traders may take cues from new home sales data from the US and remain cautious ahead of PMI and durable goods orders data from the US this week. Investors may also take cues from ECB's monetary policy decision. USDINR spot price is expected to trade in a range of 86.10 to 86.75," Choudhary said.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.16 per cent to 97.36, as investors watched out for an India-US trade deal ahead of the August 1 deadline.
If the discussions fail or get delayed, Indian exporters could face fresh pressure — adding to the rupee's challenges.
However, if a deal is reached, it could offer a much-needed breather. Until then, the uncertainty is likely to keep market participants cautious.
Brent crude, the global oil benchmark, went up by 1.18 per cent to USD 69.32 per barrel in futures trade.
The US team will visit India in August for the next round of negotiations for the proposed bilateral trade agreement between the two countries.
India and the US teams concluded the fifth round of talks for the agreement last week in Washington.
Meanwhile, in the domestic equity market, Sensex fell 542.47 points, or 0.66 per cent, to settle at 82,184.17, while Nifty declined 157.80 points, or 0.63 per cent, to close at 25,062.10.
Foreign institutional investors (FIIs) offloaded equities worth Rs 4,209.11 crore on a net basis on Wednesday, according to exchange data. PTI DRR ANU ANU
view comments
First Published:
July 24, 2025, 16:15 IST
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
8 minutes ago
- Time of India
Uber expands intercity cab network in India by 50%, eyes further growth in 2026
Ride-hailing giant Uber has significantly expanded its intercity cab operations in India, now covering over 3,000 routes — a 50 per cent jump from the 2,000 routes it operated in 2024. The company aims to add another 1,500 routes next year, taking the total to 4,500 by 2026, ETTech reports. Among the new connections rolled out this year are Gaya to Patna (Bihar), Ayodhya to Prayagraj and Lucknow (Uttar Pradesh), and Bagdogra (West Bengal) to Gangtok (Sikkim). These additions are part of Uber's strategy to strengthen its footprint in the country's fast-growing intercity travel market, estimated to be worth at least $6 billion annually, with around 8 billion road passenger trips. 'This is an India-first innovation that we're also working to take global. We already have pilots running in several international markets,' said Shweta Mantri, Head of Rider Verticals, Uber India and South Asia. Uber's intercity service now operates in 79 Indian cities. Uber Intercity Motorhomes To attract more users, Uber is introducing a premium offering under a limited-time pilot called Uber Intercity Motorhomes in the Delhi-NCR region. These 4-5 seater vehicles are equipped with a television, microwave, lavatory, mini-fridge, and entertainment options. ' According to Uber, the most popular intercity routes in the last 12 months included Mumbai–Pune, Delhi–Agra, and Bengaluru–Mysore. The company has seen users opting for intercity rides for a range of travel needs including business, leisure, pilgrimages, and airport or railway station transfers. Indian market, a key player India remains a key market for Uber, with operations in more than 125 cities and over 1.4 million monthly active drivers. In 2024, Uber facilitated over a billion trips across the country. The company's India business reported strong financial performance for FY24, with a 41 per cent rise in operating revenue to ₹3,762 crore and reduced losses driven by improved ride-hailing operations and the growth of its support services. Beyond ride-hailing, Uber has also diversified its offerings in India. In May 2024, it launched Courier XL for large-item deliveries and announced plans to enter the B2B logistics space through the Open Network for Digital Commerce (ONDC). It has also partnered with ONDC to offer metro ticket bookings on its app, beginning with Delhi Metro.
Time of India
8 minutes ago
- Time of India
Anurag Thakur Blasts Rahul Gandhi For Backing Trump's 'Dead Economy' Jab; Shinde Calls It 'Pak Prem'
In a fresh political face-off, BJP leaders Anurag Thakur and Eknath Shinde launched sharp attacks on Congress MP and Lok Sabha LoP Rahul Gandhi. Thakur accused Rahul of echoing anti-India voices globally and failing to digest PM Modi's global popularity. He mocked Rahul's political legacy, calling the UPA era a 'dead decade of opportunities'. Maharashtra Deputy CM Eknath Shinde also hit out, questioning Rahul's patriotism for allegedly defaming the country and targeting armed forces. This follows Rahul Gandhi's support of former US President Donald Trump's 'dead economy' remark, where he blamed BJP for destroying India's economy to benefit Adani.#rahulgandhi #anuragthakur #donaldtrump #indianpolitics #pmmodi #eknathshinde #indianeconomy #bjp #congress #toi #toibharat Read More
&w=3840&q=100)
Business Standard
8 minutes ago
- Business Standard
Ambuja Cements Q1 net rises to Rs 788 cr as volumes, premium mix improve
Ambuja Cements, owned by the Adani Group, posted a 23.13 per cent year-on-year (YoY) rise in consolidated net profit for the first quarter of FY2026 to Rs 787.9 crore. The growth was driven by the company's highest-ever quarterly cement sales volume of 18.4 million tonnes (mt), up 20 per cent YoY. However, the profit figure fell short of Bloomberg's consensus estimate of Rs 920.1 crore. Strong trade volumes, a higher share of premium products, and improved realisations contributed to the earnings performance. The company also completed its acquisition of Orient Cement during the quarter. Revenue from operations rose 22.6 per cent YoY to Rs 10,289.1 crore, exceeding analysts' expectations of Rs 9,751.1 crore. This marks the company's best quarterly revenue performance to date. Orient Cement integration boosts operational strength 'The integration of Orient assets has been completed ahead of time with good results from these assets,' said Vinod Bahety, whole-time director and CEO of Ambuja Cements. 'We have good visibility to sustain this performance and are well-positioned to lead the next phase of growth with a sustainable EBITDA of Rs 1,500 per metric tonne.' Trade volumes rose 2.4 per cent, while the share of premium products climbed to 33 per cent—up 43 per cent YoY—supported by a solution-oriented approach, improved supply chains, and stronger brand pull across key markets. Cement demand outlook remains optimistic Bahety noted that cement demand grew 4 per cent YoY during Q1 FY26, compared to 2 per cent in the same quarter last year. According to Elara Capital, pan-India cement prices rose 3 per cent quarter-on-quarter to Rs 377 per bag during Q1 FY26, recovering from a 4 per cent decline in Q1 FY25. Prices softened in June due to the onset of the monsoon. 'For FY26, we expect cement demand to grow in the range of 7–8 per cent, backed by sturdy rural and urban demand, modest pickup in infrastructure spending, and a steady recovery in housing and real estate,' Bahety added. Sequentially, revenue grew by 3.1 per cent, though profit declined 17.6 per cent. With a current installed capacity of 104.5 mtpa, Ambuja is India's second-largest cement producer and aims to reach 140 mtpa by FY2028. UltraTech Cement reported a 48.9 per cent YoY jump in profit and a 9.7 per cent increase in sales volume. Nuvoco Vistas Corp posted a 6 per cent rise in sales and significant profit growth on a low base. Dalmia Bharat, by contrast, saw a 5 per cent decline in volume.
