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The Hindu
3 hours ago
- Business
- The Hindu
Rupee gives up gains, settles 4 paise lower at 86.16 against U.S. dollar
The rupee gave up initial gains to settle 4 paise lower at 86.16 (provisional) against the U.S. dollar on Friday (July 18, 2025), dragged by foreign fund outflows, rising global crude oil prices and a steep decline in domestic equity markets. However, a weak greenback against major currencies prevented a sharp depreciation in the local unit, forex traders said. At the interbank foreign exchange, the rupee opened higher against the U.S. dollar at 85.99 and moved in the range of 85.97-86.23 before closing at 86.16 (provisional), down 4 paise from its previous close. The rupee declined 20 paise to settle at 86.12 against the U.S. dollar on Thursday (July 17, 2025). Foreign investors turned sellers while "dollar buyers bought heavily to take rupee lower before we saw the Reserve Bank of India stepping in to control the pace of the fall", said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. 'We expect the rupee to remain in the weakening mode till the deal with the U.S. is finalised and if it is not done, then we could see the rupee travel to 87 levels. For Monday, we expect the rupee to trade in the range of 85.90-86.40,' he said. Negotiations between India and the U.S. are underway to iron out pending issues for a trade deal, the Ministry of External Affairs said on Thursday (July 17, 2025). The comments came a day after U.S. President Donald Trump said Washington is 'very close' to the trade pact with India. Brent crude, the global oil benchmark, rose sharply by 1.17% to $70.33 per barrel in futures trade. The dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.36% to 98.38. In the domestic equity markets, the Sensex declined 501.51 points to settle at 81,757.73, while the Nifty dropped 143.05 points to close at 24,968.40. Foreign institutional investors (FIIs) sold equities worth ₹3,694.31 crore on a net basis on Thursday (July 17, 2025), according to exchange data.

The Hindu
10 hours ago
- Business
- The Hindu
Rupee rises 6 paise to 86.06 against U.S. dollar in early trade
The rupee appreciated 6 paise to 86.06 against the U.S. dollar in early trade on Friday (July 18, 2025) on the back of a weaker greenback and a marginal drop in global crude oil prices. However, steady foreign fund outflows capped sharp gains for the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 85.99 before dropping to 86.06 against the US dollar, up 6 paise from its previous close. The rupee declined 20 paise to settle at 86.12 against the US dollar on Thursday. "Thursday's buying of U.S. dollar was mainly on account of the outflow of an IPO subscribed 63 times, the allotment of which was done Thursday (July 17, 2025) itself. Today it will be up to the Reserve Bank whether it wants to allow further weakening or keep it on the already defined range. "We await for further developments on the trade deal, which still is to be finalised and signed between India and the US," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. Negotiations between India and the U.S. are underway to iron out pending issues for a trade deal, the Ministry of External Affairs (MEA) said on Thursday (July 17, 2025). The comments came a day after U.S. President Donald Trump said that Washington is "very close" to the trade pact with India. Brent crude, the global oil benchmark, was down by 0.14% to $69.42 per barrel in futures trade. The dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.29% to 98.45. On the domestic equity market front, the Sensex declined 185.67 points to 82,073.57 in early trade, while the Nifty was down 45.4 points to 25,066.05. Foreign institutional investors (FIIs) sold equities worth ₹3,694.31 crore on a net basis on Thursday (July 17, 2025), according to exchange data.

Business Standard
11 hours ago
- Business
- Business Standard
Rupee recovers after breaching 86-mark as dollar, oil prices ease
The Indian currency eased off after breaching the 86 mark on Thursday amid a dip in the dollar index and crude oil prices. The domestic currency opened 7 paise higher at 86.01 against the dollar on Friday, according to Bloomberg. The rupee has witnessed 0.44 per cent depreciation in the current calendar year and a 0.23 per cent fall this week. On Thursday, the dollar buying was largely driven by outflows related to an initial public offering (IPO) that was subscribed 63 times, with allotment completed the same day, Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP, said. "Exporters, having sold near 86.00–86.05, may wait for further depreciation today or on Monday. Importers are advised to hold for now, though a breach of the 86.10 level could trigger further dollar buying," Bhansali said. The dollar fell after Federal Reserve Governor Christopher Waller said policymakers should cut interest rates this month to support a labour market that is showing signs of weakness, Bloomberg reported. Furthermore, US retail sales rebounded in June above estimates while the US unemployment benefits declined for a fifth straight week to the lowest since mid-April. The dollar index, a measure of the greenback against a basket of six major currencies, was down 0.3 per cent at 98.45. However, markets remained largely steady on the Fed outlook, with no significant change in expectations for a September rate cut or the total number of rate cuts anticipated in 2025, reports said. In commodities, crude oil prices dropped in Asian trade after sharp gains, fuelled by drone attacks on Iraqi oil fields. Brent crude price was down 0.14 per cent at 69.42 per barrel, while WTI crude prices were lower by 0.16 per cent at 67.43, as of 9:18 AM IST.

The Hindu
a day ago
- Business
- The Hindu
Rupee falls 15 paise to close at 86.07 against U.S. dollar
The rupee declined 15 paise to settle at 86.07 (provisional) against the U.S. dollar on Thursday (July 17, 2025) amid a stronger greenback, outflow of foreign funds and volatile global crude oil prices. Selling trend in the domestic equity markets and uncertainties over the outcome of the ongoing India-U.S. trade talks further pressured the rupee, according to forex traders. At the interbank foreign exchange, the rupee opened at 85.93 against the U.S. dollar and traded in the range of 85.80-86.09 during the day before settling at 86.07 (provisional), down 15 from its previous close. The rupee had declined 16 paise against the U.S. dollar to close at 85.92 on Wednesday. "The strong dollar index kept rupee weak while fall in Asian currencies also did not help as rupee continued to depreciate towards 86 levels. Near-term premiums rose on the VRRR auctions by the RBI while one-year premiums were generally constant," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. "For tomorrow [Friday] we expect the range of 85.75 to 86.25 to continue with trade deals are the only things to be watched for," he said. An Indian Commerce Ministry team is in Washington for another round of talks on the proposed India-U.S. bilateral trade agreement. The four-day talks, which started on Monday, are expected to conclude on Thursday. U.S. President Donald Trump has said the proposed trade deal with India would be on the lines of what America has finalised with Indonesia on Tuesday. Brent crude, the global oil benchmark, was marginally down by 0.06% to $68.48 per barrel in futures trade. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.25% to 98.63. On the domestic equity market front, the Sensex fell 375.24 points to settle at 82,259.24, while Nifty was down 100.60 points to 25,111.45. Foreign institutional investors (FIIs) sold equities worth ₹1,858.15 crore on a net basis on Wednesday, according to exchange data.


The Hindu
a day ago
- Business
- The Hindu
Rupee rises 12 paise to 85.80 against U.S. dollar in early trade
The rupee rose 12 paise to 85.80 against the U.S. dollar in early trade on Thursday (July 17, 2025) amid a drop in global crude oil prices and a hope of a breakthrough in the ongoing India-U.S. trade talks. However, a strengthening dollar against overseas currencies and FII outflows prevented sharper gains in the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened weaker at 85.93 against the U.S. dollar but moved into positive territory to 85.80, up 12 paise from its previous close. The rupee had declined 16 paise against the U.S. dollar to close at 85.92 on Wednesday (July 16, 2025). 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. U.S. President Donald Trump has said that the proposed trade deal with India would be on the lines of what America has finalised with Indonesia on Tuesday (July 15, 2025). "The rupee in a volatile move moved from 86.06 to 85.73 and then closed at 85.92 on Wednesday as dollar index was up. For today (Thursday), rupee is expected to be in the range of 85.75/86.25 with RBI resisting the currency pair near to 86.00 level," Anil Kumar Bhansali, head of treasury and executive director, Finrex Treasury Advisors LLP, said. Brent crude, the global oil benchmark, was down 0.36% to $68.46 per barrel in futures trade. "Brent oil prices rose after U.S. data showed a sharper-than-expected drop in crude inventories, highlighting tight supplies, while investors remained cautious ahead of potential U.S. tariff announcements on 150 countries as part of his ongoing agenda prompting global efforts to avoid steeper import duties," Mr. Bhansali said. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.17% to 98.55. On the domestic equity market front, the Sensex rose 119.05 points to 82,753.53 in opening trade, while Nifty was up 18.7 points to 25,230.75. Foreign institutional investors (FIIs) sold equities worth ₹1,858.15 crore on a net basis on Wednesday, according to exchange data.