Rupee falls 18 paise to close at 85.94 against U.S. dollar
However, renewed foreign capital inflows and sliding global crude prices supported the domestic unit, according to forex traders.
At the interbank foreign exchange, the rupee opened weak at 86.02 against the dollar. It traded in the range of 85.74-86.05 during the day before closing at 85.94 (provisional), down 18 paise from its previous close.
In the previous session, the rupee appreciated 16 paise to close at 85.76 against the U.S. dollar.
'The Indian Rupee experienced notable volatility today, initially weakening against a robust U.S. Dollar before recovering mid-session due to dollar supply, only to conclude with net losses.
'This movement follows a three-day consolidation phase for the USD-INR pair, ranging from 85.70 to 86.05. The sentiment remains acutely favourable for the dollar, driven by expectations of a hawkish Federal Reserve post-U.S. inflation data and persistent uncertainties regarding India-U.S. trade agreements,' said Dilip Parmar, Research Analyst, HDFC Securities.
An Indian commerce ministry team is in Washington for another round of talks on the proposed bilateral trade agreement. The four-day talks, which started on Monday (July 14, 2025), will conclude on Thursday (July 17, 2025).
'We continue to await the outcome of the trade deal as inflows and outflows keep the rupee well entrenched in a range of 85.70 to 86.10. We expect a similar range for the rupee tomorrow (Thursday) as well,' Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.
Brent crude, the global oil benchmark, was down 0.26% to $68.53 per barrel in futures trade. The dollar index, which gauges the greenback's strength against a basket of six currencies, dipped 0.07% to 98.54.
On the domestic equity market front, the Sensex rose 63.57 points to settle at 82,634.48, while the Nifty inched up 16.25 points to 25,212.05.
Foreign institutional investors (FIIs) bought equities worth ₹120.47 crore on a net basis on Tuesday (July 15, 2025), according to exchange data.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
First Post
28 minutes ago
- First Post
China begins construction of $167.8 billion Brahmaputra dam near India border
China on Saturday formally started the construction of the USD 167.8 billion dam over the Brahmaputra river in Tibet, closer to the Indian border in Arunachal Pradesh. read more China on Saturday officially commenced construction of a massive USD 167.8 billion dam on the Brahmaputra river in Tibet, close to the Indian state of Arunachal Pradesh. Chinese Premier Li Qiang announced the project's launch during a ground-breaking ceremony held in Nyingchi City, located along the lower stretches of the Brahmaputra, locally known in China as the Yarlung Zangbo, according to state media. The ceremony was held at the site of the Mainling hydropower station in Tibet's Nyingchi region, the official Xinhua news agency reported. STORY CONTINUES BELOW THIS AD Touted as the world's largest infrastructure initiative, the project has triggered concerns in downstream countries, particularly India and Bangladesh. The project will consist of five cascade hydropower stations, with a total investment estimated at around 1.2 trillion Yuan (about USD 167.8 billion), the report said. According to a 2023 report, the hydropower station is expected to generate more than 300 billion kWh of electricity each year – enough to meet the annual needs of over 300 million people. It will primarily deliver electricity for external consumption while also addressing local demand in Tibet, which China officially refers to as Xizang. Representatives from various organisations, including the National Development and Reform Commission and the Power Construction Corporation of China and locals attended the ceremony, the report said. With inputs from agencies
Time of India
34 minutes ago
- Time of India
Deputy CM Shinde tells Nashik civic chief to resolve water supply, parking & road issues
Nashik: Deputy chief minister Eknath Shinde has asked Nashik's municipal commissioner Manisha Khatri to ensure the civic body carries out works to regularise drinking water supply to Cidco and neighbouring areas by appointing new valve-men, address the city's parking issues, and repair roads excavated for gas pipeline installation. This followed a meeting between Nashik West MLA Seema Hiray and Shinde, who also serves as the urban development minister, on Friday. Hiray briefed Shinde on citizens' concerns, including drinking water shortage, poor road condition, city-wide encroachments, parking difficulties causing traffic congestion, and other issues. "The minister gave us a patient hearing. NMC commissioner Manisha Khatri virtually attended the meeting. The minister asked the commissioner to take steps, including floating a fresh tender for the appointment of valve-men to operate the valves of drinking water supply pipelines, and ensure equitable water distribution across the city. He also asked the corporation to repair the roads that were dug up while laying the gas pipeline at the earliest," said Hiray. Hiray also reported that Shinde requested the corporation to execute developmental projects at Pelikan Park. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo The NMC is expected to allocate its funds for this initiative, supplemented by state govt. Shinde laid stress on the development of parking spaces in open areas to ensure traffic congestion is reduced, the MLA added. He also took note of the outstanding house and water cess owed by citizens and told the corporation to reduce these arrears by introducing attractive schemes and reducing penalties. The corporation must submit a proposal to state govt to implement these measures, Hiray said.
Time of India
an hour ago
- Time of India
Ola, Uber drivers resume services in Mumbai but union asks riders to pay govt-approved fare
Mumbai: Drivers of app-based cab services Ola and Uber , who were on an indefinite strike since July 14, temporarily resumed operations on Saturday after the state govt assured them of a meeting on their long-standing demands. However, even as the apps went live, confusion loomed large with the drivers' union asking commuters to ignore the app fare and instead pay as per the fare chart notified for Cool Cabs. The union clarified that the fare shown on the app would not be applicable during this interim period. Passengers are expected to verify the correct fare through or by scanning a QR code placed inside the cab, and then pay the driver in cash. The dual fare system has sparked fears of chaos and mistrust among users, especially those unfamiliar with govt-approved tariff charts. "All fares must be paid in cash, and passengers should follow the notified Cool Cab fare chart, not what's shown on the app," said Keshav Nana Kshirsagar, chairman of the Maharashtra Gig Workers' Union. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai As per the fare chart for Cool Cab, the minimum fare is Rs 48, and for subsequent kilometres, it is Rs 32.05 (rounded off to the nearest rupee). by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo Commuters are already anticipating trouble. "If two different fares are being shown—one on the app and another by the driver—people are going to get confused. Not everyone will take the trouble of verifying it on a separate site," said Priya Deshmukh, a Dadar-Powai commuter. Others fear arguments may become common. "There's bound to be chaos. Some commuters will insist on paying the app fare while drivers will demand more. This isn't going to end well," said Anjali Nair, a marketing executive from Malad. The drivers' agitation was sparked by multiple demands—fare parity with kaali-peelis, withdrawal of a govt complaint helpline, a ban on aggregator autos and bike taxis, and implementation of the aggregator policy. Union members say their earnings offered by aggregator firms are not sustainable. Though the apps are active again, delays and limited availability continue to affect passengers, with wait times stretching to 10–12 minutes in some areas. Commuters fear more trouble lies ahead. "People trust the app fares because it's visible and fixed. Now that they're being told to ignore it, confusion is inevitable," said Ashwin Patil, a daily commuter from Ghatkopar. "The QR code is a good idea, but most people won't know how or when to use it. If this continues beyond Tuesday, it'll become a huge hassle," said Rohan Malhotra, who travels from Churchgate to BKC. Transport officials said a meeting with aggregator firms and union leaders is likely early next week to resolve the matter. Until then, passengers are advised to carry cash, double-check fares, and brace for inconsistencies.
