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Time of India
2 days ago
- Business
- Time of India
Rupee slips 7 paise to 85.55 against US dollar amid volatile equities and rising crude prices
The rupee gave up its early gains to close 7 paise lower at 85.55 against the US dollar on Friday, pressured by volatile domestic equity markets and a rebound in global crude oil prices. Caution prevailed among investors ahead of the upcoming GDP data release, forex traders said. The domestic currency opened at 85.35 and fluctuated between an intraday high of 85.25 and a low of 85.64 before settling at 85.55, marking a modest decline from the previous close. On Thursday, the rupee had ended 10 paise lower at 85.48, PTI reported. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said, "The rupee's weakness today reflects a combination of increased demand for dollars from importers due to month-end transactions and rising crude oil prices. However, sustained foreign inflows and a softer US dollar index provided some support." The US dollar index, which measures the greenback against a basket of six currencies, was up 0.28% at 99.49. Analysts noted that the dollar regained strength following a temporary stay imposed by a federal appeals court on a US federal court ruling that had challenged President Donald Trump's sweeping reciprocal tariffs. Brent crude futures, the global oil benchmark, gained 0.41% to USD 64.41 per barrel. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo In the domestic stock market, the BSE Sensex declined 182.01 points, or 0.22%, to close at 81,451.01, while the Nifty dropped 82.90 points, or 0.33%, to 24,750.70. Foreign institutional investors (FIIs) were net sellers, offloading equities worth Rs 6,449.74 crore on Friday, according to exchange data. The Reserve Bank of India's latest annual report highlighted the country's robust growth outlook, stating that India is set to remain the fastest-growing major economy in the world in the fiscal year 2025-26. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Hindu
2 days ago
- Business
- The Hindu
Rupee falls 8 paise to settle at 85.56 against U.S. dollar
The rupee pared its initial gains to settle 8 paise lower at 85.56 (provisional) against the U.S. dollar on Friday (May 30, 2025), as volatility in domestic equities and recovering global crude prices pressured the local currency. However, a steady inflow of foreign funds supported the domestic unit even as investors stayed cautious, awaiting domestic GDP data to be released later in the day, forex traders said. At the interbank foreign exchange, the domestic unit opened at 85.35 and moved between the intraday high of 85.25 and the low of 85.64 against the greenback. The unit settled the day at 85.56 (provisional), registering a loss of 8 paise from its previous close. The rupee ended 10 paise lower at 85.48 against the dollar on Thursday (May 29, 2025). Anuj Choudhary, a research analyst at Mirae Asset Sharekhan, said the rupee fell on weak domestic markets and a recovery in crude oil prices. Month-end dollar demand from importers also pressurised the rupee. However, the weak US dollar index and FII inflows cushioned the downside. 'Traders may take cues from the core PCE price index and personal income data from the U.S. The USD-INR spot price is expected to trade in a range of ₹85.30 to ₹86,' he added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.28 per cent at 99.49. Analysts said the dollar showed signs of recovery after the U.S. federal court's ruling against President Donald Trump's sweeping reciprocal tariffs proved short-lived as a federal appeals court put a temporary stay on the ruling. Brent crude, the global oil benchmark, rose 0.41 per cent to $64.41 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex fell 182.01 points, or 0.22 per cent, to close at 81,451.01, while the Nifty declined 82.90 points, or 0.33 per cent, to 24,750.70. Foreign institutional investors (FIIs) purchased equities worth ₹884.03 crore on a net basis on Thursday (May 29, 2025), according to exchange data. The Reserve Bank, in its latest annual report on Thursday (May 29, 2025), said the country is poised to remain the fastest-growing major economy in the world even in FY26.
The Print
2 days ago
- Business
- The Print
Rupee declines 10 paise against US dollar
At the interbank foreign exchange, the domestic unit opened at 85.56 and touched the intra-day low of 85.62 against the greenback. The unit hit the day's high of 85.40 before ending the session at 85.48, 10 paise lower from its previous close. However, positive domestic equity market and foreign fund inflows supported the local currency and restricted its slide, forex traders said. Mumbai, May 29 (PTI) The rupee declined 10 paise to close at 85.48 against the US dollar on Thursday due to a strong American currency against major crosses overseas and rising global crude oil prices. The rupee ended Wednesday's session two paise higher at 85.38 against the dollar. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said a surge in the US dollar index and crude oil prices weighed on the rupee. 'Month-end dollar demand and FII outflows may also pressurise the rupee. USD-INR spot price is expected to trade in a range of Rs 85.15 to Rs 85.80,' he said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.11 per cent at 99.89. Analysts said the American currency index gained after a US federal court blocked President Donald Trump's sweeping reciprocal tariff order, fuelling hope of easing global trade uncertainties. Brent crude, the global oil benchmark, climbed 1.25 per cent to USD 65.71 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex rose 320.70 points, or 0.39 per cent, to close at 81,633.02, while the Nifty went up 81.15 points, or 0.33 per cent, to 24,833.60. Foreign institutional investors (FIIs) purchased equities worth Rs 4,662.92 crore on a net basis on Wednesday, according to exchange data. The Reserve Bank, in its latest annual report on Thursday, said the country is poised to remain the fastest-growing major economy in the world even in FY26. According to official data released on Wednesday, India's industrial production growth slowed to 2.7 per cent in April 2025 due to poor performance of manufacturing, mining and power sectors. PTI HVA BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
News18
3 days ago
- Business
- News18
Rupee Declines 10 Paise To Settle At 85.48 Against US Dollar
Last Updated: At the interbank foreign exchange, the rupee opens at 85.56 and touched the intra-day low of 85.62 against the greenback. The rupee declined 10 paise to close at 85.48 (provisional) against the US dollar on Thursday due to a strong American currency against major crosses overseas and rising global crude oil prices. However, positive domestic equity market and foreign fund inflows supported the local currency and restricted its slide, forex traders said. At the interbank foreign exchange, the domestic unit opened at 85.56 and touched the intra-day low of 85.62 against the greenback. The unit hit the day's high of 85.40 before ending the session at 85.48 (provisional) against the dollar, 10 paise lower from its previous close. The rupee ended Wednesday's session two paise higher at 85.38 against the dollar. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said a surge in the US dollar index and crude oil prices weighed on the rupee. 'Month-end dollar demand and FII outflows may also pressurise the rupee. USD-INR spot price is expected to trade in a range of Rs 85.15 to Rs 85.80," he said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.11 per cent at 99.89. Analysts said the American currency index gained after a US federal court blocked President Donald Trump's sweeping reciprocal tariff order, fuelling hope of easing global trade uncertainties. Brent crude, the global oil benchmark, climbed 1.25 per cent to $65.71 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex rose 320.70 points, or 0.39 per cent, to close at 81,633.02, while the Nifty went up 81.15 points, or 0.33 per cent, to 24,833.60. The Reserve Bank, in its latest annual report on Thursday, said the country is poised to remain the fastest-growing major economy in the world even in FY26. According to official data released on Wednesday, India's industrial production growth slowed to 2.7 per cent in April 2025 due to poor performance of manufacturing, mining and power sectors. (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI)
The Hindu
3 days ago
- Business
- The Hindu
Rupee declines 10 paise to settle at 85.48 against U.S. dollar
The rupee declined 10 paise to close at 85.48 (provisional) against the U.S. dollar on Thursday (May 29, 2025) due to a strong American currency against major crosses overseas and rising global crude oil prices. However, positive domestic equity market and foreign fund inflows supported the local currency and restricted its slide, forex traders said. At the interbank foreign exchange, the domestic unit opened at 85.56 and touched the intra-day low of 85.62 against the greenback. The unit hit the day's high of 85.40 before ending the session at 85.48 (provisional) against the dollar, 10 paise lower from its previous close. The rupee ended Wednesday's session two paise higher at 85.38 against the dollar. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said a surge in the U.S. dollar index and crude oil prices weighed on the rupee. "Month-end dollar demand and FII outflows may also pressurise the rupee. USD-INR spot price is expected to trade in a range of ₹85.15 to ₹85.80," he said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.11% at 99.89. Analysts said the American currency index gained after a US federal court blocked President Donald Trump's sweeping reciprocal tariff order, fuelling hope of easing global trade uncertainties. Brent crude, the global oil benchmark, climbed 1.25% to $65.71 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex rose 320.70 points, or 0.39%, to close at 81,633.02, while the Nifty went up 81.15 points, or 0.33%, to 24,833.60. Foreign institutional investors (FIIs) purchased equities worth ₹4,662.92 crore on a net basis on Wednesday (May 28, 2025), according to exchange data. The Reserve Bank, in its latest annual report on Thursday, said the country is poised to remain the fastest-growing major economy in the world even in FY26. According to official data released on Wednesday, India's industrial production growth slowed to 2.7% in April 2025 due to poor performance of manufacturing, mining and power sectors.
