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Business Standard
16 hours ago
- Business
- Business Standard
Rupee extends losses even as oil prices, dollar decline; ends at 86.30/$
The Indian Rupee extended its decline to the weakest level in nearly one month even as crude oil prices and the dollar index edged lower. The domestic currency closed 14 paise lower at 86.30 against the dollar on Monday, according to Bloomberg. The rupee has witnessed over 0.8 per cent depreciation in the current calendar year. Most Asian currencies traded lower during the day. The rupee has declined nearly 1 per cent over the past two weeks and is now trading close to its lowest level in almost a month as traders' focus remains on a possible tariff deal with the US ahead of the August 1 deadline. The trade deal with the US remains stalled due to unresolved issues around agriculture and automobiles, according to Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP. Markets will closely watch remarks from US Federal Reserve Chair Jerome Powell on Tuesday, especially after criticism from the US President over his reluctance to cut rates. Rupee traded weak as focus shifts to this week's Fed Chair Powell's speech, which is expected to drive volatility in the dollar index, according to Jateen Trivedi, VP research analyst - commodity and currency at LKP Securities. "Additionally, key economic indicators such as Manufacturing and Services PMI will be closely tracked by market participants. The rupee is likely to continue moving within the broader range of 85.50-86.50." In India, attention is also turning to the possibility of domestic rate cuts, following a sharper-than-expected decline in inflation to 2.1 per cent, a more than six-year low, Bhansali said. "The combination of falling inflation, surplus liquidity, and weak high-frequency data suggesting a potential economic slowdown is contributing to pressure on the rupee." After falling for fice straight months, the dollar index has recovered 1.5 per cent in July on strong economic data and less probability of an immediate rate cut. The measure of the greenback against a basket of six major currencies was down 0.24 per cent at 98.24. Key global events this week include a speech by US Fed Chair Powell and ECB President Lagarde on July 22. Crude oil prices wavered higher as traders assessed the impact of new European sanctions on Russian oil supply. Brent crude price was down 0.49 per cent at 68.94 per barrel, while WTI crude prices were lower by 0.34 per cent at 67.11, as of 3:36 PM IST.
The Hindu
a day ago
- Business
- The Hindu
Rupee falls 20 paise to 86.36 against U.S. dollar in early trade
The rupee depreciated 20 paise to 86.36 against the U.S. dollar in early trade on Monday (July 21, 2025), weighed down by the overall strength of the American currency in the overseas market and a negative trend in domestic equities. Forex traders said the rupee extended its slide with the breach of the key 86.00 level accelerating the decline as a recovering dollar index sapped rupee sentiment. At the interbank foreign exchange, the domestic unit opened at 86.27 against the greenback. In initial trade, it witnessed a low of 86.36, registering a fall of 20 paise over its previous close. On Friday (July 18, 2025), the rupee settled 4 paise lower at 86.16 against the U.S. dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.02% to 98.46. "As the dollar recovered, the Indian rupee has been showing downside syndromes and is expected to move between 85.90 to 86.40 with a downward bias for the rupee," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. Brent crude, the global oil benchmark, went up by 0.12% to $69.36 per barrel in futures trade. Forex traders said all eyes are now on the outcome of India-U.S. trade talks, especially as the August 1 deadline for potential tariffs on Indian exports draws near. 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, CR Forex Advisors MD — Amit Pabari said. Pabari further added that for now, the trend continues to favour a weaker rupee. "The pair may find support around 85.70-85.80, but having crossed 86.00, the door is open for a possible move toward 86.50-86.80," he added. Meanwhile, in the domestic equity market, Sensex declined 155.73 points or 0.19% to 81,602.00, while Nifty fell 63.55 points or 0.25% to 24,904.85. Foreign institutional investors (FIIs) purchased equities worth ₹374.74 crore on a net basis on Friday, according to exchange data.
Time of India
a day ago
- Business
- Time of India
Rupee falls 20 paise to 86.36 against US dollar in early trade
The rupee depreciated 20 paise to 86.36 against the US dollar in early trade on Monday, weighed down by the overall strength of the American currency in the overseas market and a negative trend in domestic equities. Forex traders said the rupee extended its slide with the breach of the key 86.00 level accelerating the decline as a recovering dollar index sapped rupee sentiment. Explore courses from Top Institutes in Select a Course Category Project Management Cybersecurity Operations Management Data Science Management Technology CXO Healthcare PGDM Leadership Data Science Data Analytics Degree Finance Digital Marketing Others Design Thinking others Artificial Intelligence Product Management MBA healthcare MCA Public Policy Skills you'll gain: Portfolio Management Project Planning & Risk Analysis Strategic Project/Portfolio Selection Adaptive & Agile Project Management Duration: 6 Months IIT Delhi Certificate Programme in Project Management Starts on May 30, 2024 Get Details Skills you'll gain: Project Planning & Governance Agile Software Development Practices Project Management Tools & Software Techniques Scrum Framework Duration: 12 Weeks Indian School of Business Certificate Programme in IT Project Management Starts on Jun 20, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Join new Free to Play WWII MMO War Thunder War Thunder Play Now Undo At the interbank foreign exchange, the domestic unit opened at 86.27 against the greenback. In initial trade, it witnessed a low of 86.36, registering a fall of 20 paise over its previous close. On Friday, the rupee settled 4 paise lower at 86.16 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.02 per cent to 98.46. Live Events "As the dollar recovered, the Indian rupee has been showing downside syndromes and is expected to move between 85.90 to 86.40 with a downward bias for the rupee," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. Brent crude, the global oil benchmark, went up by 0.12 per cent to USD 69.36 per barrel in futures trade. Forex traders said all eyes are now on the outcome of India-US trade talks , especially as the August 1 deadline for potential tariffs on Indian exports draws near. 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, CR Forex Advisors MD - Amit Pabari said. Pabari further added that for now, the trend continues to favour a weaker rupee. "The pair may find support around 85.70-85.80, but having crossed 86.00, the door is open for a possible move toward 86.50-86.80," he added. Meanwhile, in the domestic equity market , Sensex declined 155.73 points or 0.19 per cent to 81,602.00, while Nifty fell 63.55 points or 0.25 per cent to 24,904.85. Foreign institutional investors (FIIs) purchased equities worth Rs 374.74 crore on a net basis on Friday, according to exchange data.
News18
a day ago
- Business
- News18
Rupee falls 20 paise to 86.36 against US dollar in early trade
Mumbai, Jul 21 (PTI) The rupee depreciated 20 paise to 86.36 against the US dollar in early trade on Monday, weighed down by the overall strength of the American currency in the overseas market and a negative trend in domestic equities. Forex traders said the rupee extended its slide with the breach of the key 86.00 level accelerating the decline as a recovering dollar index sapped rupee sentiment. At the interbank foreign exchange, the domestic unit opened at 86.27 against the greenback. In initial trade, it witnessed a low of 86.36, registering a fall of 20 paise over its previous close. On Friday, the rupee settled 4 paise lower at 86.16 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.02 per cent to 98.46. 'As the dollar recovered, the Indian rupee has been showing downside syndromes and is expected to move between 85.90 to 86.40 with a downward bias for the rupee," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. Brent crude, the global oil benchmark, went up by 0.12 per cent to USD 69.36 per barrel in futures trade. Forex traders said all eyes are now on the outcome of India-US trade talks, especially as the August 1 deadline for potential tariffs on Indian exports draws near. 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, CR Forex Advisors MD – Amit Pabari said. Pabari further added that for now, the trend continues to favour a weaker rupee. 'The pair may find support around 85.70-85.80, but having crossed 86.00, the door is open for a possible move toward 86.50-86.80," he added. Meanwhile, in the domestic equity market, Sensex declined 155.73 points or 0.19 per cent to 81,602.00, while Nifty fell 63.55 points or 0.25 per cent to 24,904.85. Foreign institutional investors (FIIs) purchased equities worth Rs 374.74 crore on a net basis on Friday, according to exchange data. PTI DRR DR DR view comments First Published: July 21, 2025, 10:00 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.
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Business Standard
a day ago
- Business
- Business Standard
Rupee opens lower at 86.22/$, tracking Asian peers and firm dollar
The Indian rupee posted a lower start to the week, tracking weakness in Asian peers against a firm dollar and a slight uptick in crude oil prices. The domestic currency opened 7 paise lower at 86.22 against the dollar on Monday, according to Bloomberg. The rupee has witnessed over 0.8 per cent depreciation in the current calendar year. The rupee has declined nearly 1 per cent over the past two weeks and is now trading close to its lowest level in almost a month as traders focus remains on a possible tariff deal with the US ahead of the August 1 deadline. The Indian rupee has shown weakness as the US dollar recovers, and it is expected to trade in the range of 85.90 to 86.40 with a downward bias, according to Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP. The trade deal with the US remains stalled due to unresolved issues around agriculture and automobiles, he noted. Markets will closely watch remarks from US Federal Reserve Chair Jerome Powell on Tuesday, especially after criticism from the US President over his reluctance to cut rates. In India, attention is also turning to the possibility of domestic rate cuts, following a sharper-than-expected decline in inflation to 2.1 per cent, a more than six-year low, Bhansali said. "The combination of falling inflation, surplus liquidity, and weak high-frequency data suggesting a potential economic slowdown is contributing to pressure on the rupee." After falling for fice straight months, the dollar index has recovered 1.5 per cent in July on strong economic data and less probability of an immediate rate cut. The measure of the greenback against a basket of six major currencies was down 0.02 per cent at 98.46. Key global events this week include a speech by US Fed Chair Powell and ECB President Lagarde on July 22. For the dollar-rupee pair, the 85.80 level is seen as support, while 86.40 acts as resistance, according to Kunal Sodhani, head of treasury at Shinhan Bank India.
