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News18
2 hours ago
- Business
- News18
Rupee falls 7 paise to close at 86.38 against US dollar
Agency: PTI Last Updated: Mumbai, Jul 22 (PTI) The rupee pared initial gains and settled for the day down 7 paise at 86.38 against the US dollar on Tuesday, amid uncertainty over the US-India trade deal ahead of the August 1 deadline. 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. The weakness in the American currency and softening of crude oil prices supported the rupee at lower levels, while foreign fund outflows and a negative trend in domestic equities weighed on the local unit and restricted the upside. At the interbank foreign exchange, the domestic unit opened at 86.26 against the greenback and touched an intra-day high of 86.22 and a low of 86.41 against the greenback. At the end of Tuesday's trading session, the local unit settled at 86.38, down 7 paise over its previous closing price. This was rupee's fifth straight session of decline since July 16 when the unit had lost 16 paise and ended at 85.92 against the dollar. On Monday, the rupee depreciated 15 paise to close at 86.31 against the US dollar. 'We expect the rupee to trade with a slight negative bias on trade deal talks. However, weakness in the American currency and softening of crude oil prices may support the rupee at lower levels," Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said. Dilip Parmar, Research Analyst, HDFC Securities said the rupee depreciated for the fifth consecutive day, driven by risk-averse market sentiment and consistent dollar demand. 'Regional currencies remain range-bound as the dollar consolidates amid geopolitical uncertainties. Near-term, spot USD-INR has support at 85.95 and resistance at 86.70," he added. Meanwhile, the US team will visit India in August for the next round of negotiations for the proposed bilateral trade agreement between the two countries, an official said on Monday. India and the US teams concluded the fifth round of talks for the agreement last week in Washington. These deliberations are important as both sides are looking at finalising an interim trade deal before August 1, which marks the end of the suspension period of Trump tariffs imposed on dozens of countries, including India (26 per cent). 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. 'Traders may remain cautious ahead of PMI and durable goods orders data from the US this week," Choudhary said, adding that USD-INR spot price is expected to trade in a range of 86.10 to 86.65. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.03 per cent to 97.82. Brent crude, the global oil benchmark, fell 0.94 per cent to USD 68.56 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex declined 13.53 points, or 0.02 per cent, to close at 82,186.81, while the Nifty fell 29.80 points, or 0.12 per cent, to settle at 25,060.90. Foreign institutional investors (FIIs) offloaded equities worth Rs 3,548.92 crore on a net basis on Tuesday, according to exchange data. PTI DRR HVA view comments First Published: July 22, 2025, 20:30 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.
News18
a day ago
- Business
- News18
Rupee falls 15 paise against US dollar
Mumbai, Jul 21 (PTI) The rupee depreciated 15 paise to close at 86.31 against the US dollar on Monday due to consistent dollar demand from oil importers and foreign fund outflows. Forex traders said that after breaching the crucial 86 level, the rupee continued its decline, which intensified the downward trend, tracking a strengthening dollar index. At the interbank foreign exchange, the domestic unit opened at 86.27 against the greenback and touched an intra-day high of 86.19 and a low of 86.36. The local unit finally settled at 86.31, down 15 paise over its previous closing. On Friday, the rupee settled 4 paise lower at 86.16 against the US dollar. 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 closer. If the discussions fail or get delayed, it would add to the rupee's challenges, and if a deal is reached, it could offer a much-needed breather. The uncertainty around the India-US trade deal is likely to keep market participants cautious, they added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.22 per cent to 98.26. Brent crude, the global oil benchmark, fell 0.48 per cent to USD 68.95 per barrel in futures trade. 'The Indian rupee has experienced considerable weakness in recent days and remains the weakest among Asian currencies. 'The primary catalysts for this decline are consistent dollar demand from the importers and a continued exodus of foreign capital. On the technical front, the spot USD/INR has immediate resistance at 86.65 and a significant support at 85.80," said Dilip Parmar, Research Analyst, HDFC Securities. In the domestic equity market, the 30-share BSE Sensex advanced 442.61 points, or 0.54 per cent, to 82,200.34, while the Nifty rose 122.30 points, or 0.49 per cent, to 25,090.70. Foreign institutional investors (FIIs) sold equities worth Rs 1,681.23 crore on a net basis on Monday, according to exchange data. PTI DRR DRR BAL BAL view comments First Published: July 21, 2025, 20:30 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.
The Hindu
a day ago
- Business
- The Hindu
Rupee falls 14 paise to close at 86.30 against U.S. dollar
The rupee depreciated 14 paise to close at 86.30 (provisional) against the U.S. dollar on Monday (July 21, 2025) due to consistent dollar demand from oil importers. Forex traders said after breaching the crucial 86 level, the rupee continued its decline, which intensified the downward trend, tracking a strengthening dollar index. At the interbank foreign exchange, the domestic unit opened at 86.27 against the greenback and touched an intra-day high of 86.19 and a low of 86.36 against the greenback. At the end of Monday's (July 21, 2025) trading session, the local unit settled at 86.30, down 14 paise over its previous closing price. On Friday (July 18, 2025), the rupee settled 4 paise lower at 86.16 against the U.S. dollar. 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 closer. If the discussions fail or get delayed, it will add to the rupee's challenges, and if a deal is reached, it could offer a much-needed breather. The uncertainty around the India-U.S. trade deal is likely to keep market participants cautious, they added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.22% to 98.26. Brent crude, the global oil benchmark, fell 0.48% to $68.95 per barrel in futures trade. 'The Indian rupee has experienced considerable weakness in recent days and remains the weakest among Asian currencies,' the traders said. 'The primary catalysts for this decline are consistent dollar demand from the importers and a continued exodus of foreign capital. On the technical front, the spot USD/INR has immediate resistance at 86.65 and a significant support at 85.80,' said Dilip Parmar, Research Analyst, HDFC Securities. In the domestic equity market, the 30-share BSE Sensex advanced 442.61 points, or 0.54%, to 82,200.34, while the Nifty rose 122.30 points, or 0.49%, to 25,090.70. Foreign institutional investors (FIIs) purchased equities worth ₹374.74 crore on a net basis on Friday (July 18, 2025), according to exchange data.
Mint
a day ago
- Business
- Mint
Rupee falls 14 paise to close at 86.30 against US dollar
Mumbai, The rupee depreciated 14 paise to close at 86.30 against the US dollar on Monday due to consistent dollar demand from oil importers. Forex traders said after breaching the crucial 86 level, the rupee continued its decline, which intensified the downward trend, tracking a strengthening dollar index. At the interbank foreign exchange, the domestic unit opened at 86.27 against the greenback and touched an intra-day high of 86.19 and a low of 86.36 against the greenback. At the end of Monday's trading session, the local unit settled at 86.30, down 14 paise over its previous closing price. On Friday, the rupee settled 4 paise lower at 86.16 against the US dollar. 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 closer. If the discussions fail or get delayed, it would add to the rupee's challenges, and if a deal is reached, it could offer a much-needed breather. The uncertainty around the India-US trade deal is likely to keep market participants cautious, they added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.22 per cent to 98.26. Brent crude, the global oil benchmark, fell 0.48 per cent to USD 68.95 per barrel in futures trade. "The Indian rupee has experienced considerable weakness in recent days and remains the weakest among Asian currencies. "The primary catalysts for this decline are consistent dollar demand from the importers and a continued exodus of foreign capital. On the technical front, the spot USD/INR has immediate resistance at 86.65 and a significant support at 85.80," said Dilip Parmar, Research Analyst, HDFC Securities. In the domestic equity market, the 30-share BSE Sensex advanced 442.61 points, or 0.54 per cent, to 82,200.34, while the Nifty rose 122.30 points, or 0.49 per cent, to 25,090.70. Foreign institutional investors purchased equities worth ₹ 374.74 crore on a net basis on Friday, according to exchange data. This article was generated from an automated news agency feed without modifications to text.
News18
a day ago
- Business
- News18
Rupee falls 14 paise to close at 86.30 against US dollar
Mumbai, Jul 21 (PTI) The rupee depreciated 14 paise to close at 86.30 (provisional) against the US dollar on Monday due to consistent dollar demand from oil importers. Forex traders said after breaching the crucial 86 level, the rupee continued its decline, which intensified the downward trend, tracking a strengthening dollar index. At the interbank foreign exchange, the domestic unit opened at 86.27 against the greenback and touched an intra-day high of 86.19 and a low of 86.36 against the greenback. At the end of Monday's trading session, the local unit settled at 86.30, down 14 paise over its previous closing price. On Friday, the rupee settled 4 paise lower at 86.16 against the US dollar. 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 closer. If the discussions fail or get delayed, it would add to the rupee's challenges, and if a deal is reached, it could offer a much-needed breather. The uncertainty around the India-US trade deal is likely to keep market participants cautious, they added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.22 per cent to 98.26. Brent crude, the global oil benchmark, fell 0.48 per cent to USD 68.95 per barrel in futures trade. 'The Indian rupee has experienced considerable weakness in recent days and remains the weakest among Asian currencies. 'The primary catalysts for this decline are consistent dollar demand from the importers and a continued exodus of foreign capital. On the technical front, the spot USD/INR has immediate resistance at 86.65 and a significant support at 85.80," said Dilip Parmar, Research Analyst, HDFC Securities. In the domestic equity market, the 30-share BSE Sensex advanced 442.61 points, or 0.54 per cent, to 82,200.34, while the Nifty rose 122.30 points, or 0.49 per cent, to 25,090.70. Foreign institutional investors (FIIs) purchased equities worth Rs 374.74 crore on a net basis on Friday, according to exchange data. PTI DRR BAL BAL view comments First Published: 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.
