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The Hindu
5 days ago
- Business
- The Hindu
Rupee rises 3 paise to close at 87.72 against U.S. dollar
The rupee consolidated in a narrow range to settle just 3 paise higher at 87.72 (provisional) against the U.S. dollar on Tuesday (August 12, 2025) amid a negative trend in domestic equities. Forex traders said the rupee is trading in a tight range as a late decline in domestic markets and foreign fund outflows capped sharp gains for the domestic unit. Moreover, there is an overall negative bias amid uncertainties over the trade tariff issue between India and the U.S. At the interbank foreign exchange, the domestic unit opened at 87.70 and moved in a range of 87.59-87.72 during the day before settling at 87.72 (provisional), just 3 paise higher than its previous close. On Monday (August 11, 2025), the domestic unit closed at 87.75 against the U.S. dollar. Investors are in a wait-and-watch mode ahead of the U.S. CPI inflation data and are also awaiting cues from the U.S.-Russia talks on August 15, traders said. 'We expect the rupee to trade with a negative bias on account of the ongoing trade tariff war between India and the U.S. Sustained FII outflows may also pressurise the rupee.' "However, weakness in the U.S. Dollar and declining crude oil prices may support the rupee at lower levels. Investors now focus on the U.S. and Indian inflation data this week. USD/INR spot price is expected to trade in a range of 87.40 to 87," said Anuj Chaudhary, Research Analyst Commodities and Currencies, Mirae Asset Sharekhan. Meanwhile, Brent crude prices rose 0.41% to $66.70 per barrel in futures trade. The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.04% to 98.55. On the domestic equity market front, Sensex dropped 368.49 points to settle at 80,235.59, while Nifty declined 97.65 points to close at 24,487.40. Foreign Institutional Investors offloaded equities worth ₹1,202.65 crore on Monday (August 11, 2025), according to exchange data.
News18
5 days ago
- Business
- News18
Rupee rises 3 paise to close at 87.72 against US dollar
Agency: PTI Mumbai, Aug 12 (PTI) The rupee consolidated in a narrow range to settle just 3 paise higher at 87.72 (provisional) against the US dollar on Tuesday amid a negative trend in domestic equities. Forex traders said the rupee is trading in a tight range as a late decline in domestic markets and foreign fund outflows capped sharp gains for the domestic unit. Moreover, there is an overall negative bias amid uncertainties over the trade tariff issue between India and the US. At the interbank foreign exchange, the domestic unit opened at 87.70 and moved in a range of 87.59-87.72 during the day before settling at 87.72 (provisional), just 3 paise higher than its previous close. On Monday, the domestic unit closed at 87.75 against the US dollar. Investors are in a wait-and-watch mode ahead of the US CPI inflation data and are also awaiting cues from the US-Russia talks on August 15, traders said. 'We expect the rupee to trade with a negative bias on account of the ongoing trade tariff war between India and the US. Sustained FII outflows may also pressurise the rupee. 'However, weakness in the US Dollar and declining crude oil prices may support the rupee at lower levels. Investors now focus on the US and Indian inflation data this week. USD/INR spot price is expected to trade in a range of 87.40 to 87," said Anuj Chaudhary, Research Analyst Commodities and Currencies, Mirae Asset Sharekhan. The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.04 per cent to 98.55. On the domestic equity market front, Sensex dropped 368.49 points to settle at 80,235.59, while Nifty declined 97.65 points to close at 24,487.40. Foreign Institutional Investors offloaded equities worth Rs 1,202.65 crore on Monday, according to exchange data. PTI DRR BAL BAL view comments First Published: August 12, 2025, 16:00 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.
Time of India
08-08-2025
- Business
- Time of India
Currency watch: Rupee ends flat at 87.58 as dollar weakens, FIIs turned net buyers amid looming US tariff deadline
The rupee pared early losses and ended flat at 87.58 against the US dollar on Friday, supported by a weaker greenback and a return of foreign fund inflows, even as escalating trade tensions with the US kept market sentiment under pressure. Tired of too many ads? go ad free now Forex traders said the Indian currency moved in a narrow range during the session, amid weakness in domestic equities and caution around President Donald Trump's fresh tariff actions, which are set to take effect later this month. At the interbank foreign exchange, the rupee opened at 87.56 and moved between 87.52 and 87.75, before closing unchanged from its previous level. On Thursday, the currency had gained 14 paise, PTI reported. 'Uncertainty revolving around the trade war pressurised the rupee. However, softness in crude oil prices prevented a sharp fall,' said Anuj Choudhary, Research Analyst, Commodities and Currencies at Mirae Asset Sharekhan. The dollar index eased 0.16% to 98.24, reflecting broader weakness in the US currency amid rising expectations of a Federal Reserve rate cut and signs of a softening labour market. On August 6, the US announced an additional 25% tariff on all Indian imports—on top of an existing 25% duty—raising total duties to 50%, among the highest ever imposed on any country by the US. The new levy will take effect on August 27. Trump has also ruled out renewed trade talks with India unless the tariff issue is resolved. 'No, not until we get it resolved,' he said in the Oval Office on Thursday, when asked about the possibility of reopening negotiations. The US president's recent executive order links the additional tariff burden to India's continued purchase of Russian oil, a move that has drawn criticism from trade analysts and import-dependent industries. Tired of too many ads? go ad free now On the domestic front, foreign institutional investors (FIIs) turned net buyers after several days, purchasing Rs 1,932.81 crore worth of equities on Friday, as per exchange data. However, broader markets remained under pressure. The Sensex fell 765.47 points to settle at 79,857.79, while the Nifty declined 232.85 points to 24,363.30. Brent crude futures were up 0.60% to $66.83 per barrel, helping cushion rupee downside. Meanwhile, India's forex reserves fell by $9.322 billion to $688.871 billion for the week ended August 1 — one of the steepest weekly drops in recent months, RBI data showed. In the previous week, reserves had risen by $2.703 billion.
Hans India
05-07-2025
- Business
- Hans India
Crude oil prices may rebound as supply stabilises, geopolitical tensions ease
New Delhi: Crude oil prices may see a recovery in the near term as positive signals emerge from the supply side and geopolitical tensions show signs of easing, experts said on Saturday. While demand concerns continue to weigh on global sentiment, market experts believe crude prices could bounce back if key technical levels are sustained. West Texas Intermediate (WTI) crude prices remained subdued on Friday, trading near the mid $65 range amid thin holiday trading and weak global demand. However, analysts are pointing to a potential turnaround, especially with key events like the OPEC+ meeting and the US tariff deadline on the horizon. Tejas Shigrekar, Chief Technical Research Analyst -- Commodities and Currencies at Angel One Ltd, said the crude oil outlook remains mixed, but there are reasons for cautious optimism. He noted that while demand has been hit due to slowdowns in global manufacturing --particularly in China and the Eurozone -- OPEC+ production cuts are still keeping global supply tight. 'These cuts, mainly led by Saudi Arabia and Russia, have helped prevent a deeper fall in prices,' he explained. 'Even with softer demand projections from OECD countries, the coordinated output curbs are providing a floor to prices,' Shigrekar said. 'And unless there's a major supply shock, crude futures are likely to remain in a broad range, supported by strategic buying,' he stated. Geopolitical risks, which had earlier pushed prices higher, have somewhat eased after the ceasefire between Iran and Israel. Iran's renewed commitment to the Nuclear Non-Proliferation Treaty has also helped calm the market. While tensions in the South China Sea and the Middle East persist, there has been no major disruption to global supply chains so far. Traders are now focused on the July 5 OPEC+ meeting, where a third consecutive production hike of 411,000 barrels per day is expected to be approved for August. From a technical point of view, Shigrekar believes a price rebound is possible if WTI crude holds above the $62.70 support level. A break above Rs 5,780 could push domestic crude prices to Rs 6,000-Rs 6,200. But if support slips below Rs 5,550, we may see a drop toward Rs 5,330 or even Rs 5,000,' analysts mentioned.
New Indian Express
09-06-2025
- Business
- New Indian Express
Silver hits new all-time high of Rs 1.08 lakh per kg on strong demand
MUMBAI: Continuing its upward momentum, silver prices surged by Rs 1,000 to reach a fresh all-time high of Rs 1,08, 100 per kilogram in the national capital on Monday, according to the All India Sarafa Association. This follows a steady performance on Saturday, when the white metal traded flat at Rs 1,07,100 per kg (inclusive of all taxes), after soaring by Rs 3,000 to hit a previous record high of Rs 1,07,100 per kg on Friday. In the international market, spot silver rose by 0.9% to USD 36.30 per ounce. On the MCX, silver prices were trading above 106,500 level on Monday. The recent surge in silver prices is driven by strong industrial demand, particularly from the EV and solar sectors. Further, heightened geopolitical tensions and a weakening dollar have bolstered its appeal as a hedge. Commodity experts suggest that the metal could scale new peaks in the near future. Tejas Shigreka, Chief Technical Research Analyst Commodities and Currencies at Angel One said that the outlook for silver in the coming weeks appears robust, underpinned by safe-haven demand amid persistent geopolitical and economic uncertainties. 'Ongoing geopolitical tensions—such as the Russia-Ukraine conflict and regional instabilities—alongside macroeconomic challenges, including inflationary pressures, recession risks, and fiscal imbalances in major economies like the United States, are compelling investors to seek refuge in precious metals to safeguard their wealth,' said Shigreka.
