Latest news with #USDINR
The Hindu
4 hours ago
- Business
- The Hindu
Rupee rises 1 paisa to close at 86.40 against U.S. dollar
The rupee pared its initial gains and settled for the day 1 paisa higher at 86.40 (provisional) against the U.S. dollar on Thursday (July 24, 2025), as risk aversion in global markets and an overnight recovery in crude oil prices dented investors' sentiments. Forex traders said uncertainty over the India-U.S. trade deal has been an overhang for the forex market, leaving the rupee trading in a tight range. Moreover, a negative trend in domestic equities and foreign fund outflows weighed on investors' sentiments and restricted the upmove of the local unit. At the interbank foreign exchange, the domestic unit opened at 86.33 against the greenback and touched an intra-day high of 86.24 and a low of 86.42. At the end of Thursday's trading session, the local unit settled at 86.40 (provisional), higher by 1 paisa over its previous closing price. On Wednesday, the rupee settled with a loss of 3 paise at 86.41 against the dollar. "We expect the rupee to trade with a slight negative bias amid geopolitical tensions between Thailand and Cambodia and positive crude oil prices. FII outflows may also weigh on the rupee," Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan said. "Optimism over U.S.-EU trade deal and weak U.S. Dollar may support the rupee at lower levels. Traders may take cues from new home sales data from the U.S. and remain cautious ahead of PMI and durable goods orders data from the U.S. this week. Investors may also take cues from ECB's monetary policy decision. USDINR spot price is expected to trade in a range of 86.10 to 86.75," Mr. Choudhary said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.16% to 97.36, as investors watched out for an India-U.S. trade deal ahead of the August 1 deadline. 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. Brent crude, the global oil benchmark, went up by 1.18% to $69.32 per barrel in futures trade. The U.S. team will visit India in August for the next round of negotiations for the proposed bilateral trade agreement between the two countries. India and the U.S. teams concluded the fifth round of talks for the agreement last week in Washington. Meanwhile, in the domestic equity market, Sensex fell 542.47 points, or 0.66%, to settle at 82,184.17, while Nifty declined 157.80 points, or 0.63%, to close at 25,062.10. Foreign institutional investors (FIIs) offloaded equities worth ₹4,209.11 crore on a net basis on Wednesday, according to exchange data.
News18
5 hours ago
- Business
- News18
Rupee rises 1 paisa to close at 86.40 against US dollar
Mumbai, Jul 24 (PTI) The rupee pared its initial gains and settled for the day 1 paisa higher at 86.40 (provisional) against the US dollar on Thursday, as risk aversion in global markets and an overnight recovery in crude oil prices dented investors' sentiments. Forex traders said uncertainty over the India-US trade deal has been an overhang for the forex market, leaving the rupee trading in a tight range. Moreover, a negative trend in domestic equities and foreign fund outflows weighed on investors' sentiments and restricted the upmove of the local unit. At the interbank foreign exchange, the domestic unit opened at 86.33 against the greenback and touched an intra-day high of 86.24 and a low of 86.42. At the end of Thursday's trading session, the local unit settled at 86.40 (provisional), higher by 1 paisa over its previous closing price. On Wednesday, the rupee settled with a loss of 3 paise at 86.41 against the dollar. 'We expect the rupee to trade with a slight negative bias amid geopolitical tensions between Thailand and Cambodia and positive crude oil prices. FII outflows may also weigh on the rupee," Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan said. 'Optimism over US-EU trade deal and weak US Dollar may support the rupee at lower levels. Traders may take cues from new home sales data from the US and remain cautious ahead of PMI and durable goods orders data from the US this week. Investors may also take cues from ECB's monetary policy decision. USDINR spot price is expected to trade in a range of 86.10 to 86.75," Choudhary said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.16 per cent to 97.36, as investors watched out for an India-US trade deal ahead of the August 1 deadline. 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. Brent crude, the global oil benchmark, went up by 1.18 per cent to USD 69.32 per barrel in futures trade. The US team will visit India in August for the next round of negotiations for the proposed bilateral trade agreement between the two countries. India and the US teams concluded the fifth round of talks for the agreement last week in Washington. Meanwhile, in the domestic equity market, Sensex fell 542.47 points, or 0.66 per cent, to settle at 82,184.17, while Nifty declined 157.80 points, or 0.63 per cent, to close at 25,062.10. Foreign institutional investors (FIIs) offloaded equities worth Rs 4,209.11 crore on a net basis on Wednesday, according to exchange data. PTI DRR ANU ANU view comments First Published: July 24, 2025, 16:15 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.
Business Standard
a day ago
- Business
- Business Standard
INR fails to sustain gains
The Indian rupee depreciated 2 paise to 86.40 against the US dollar in early trade on Wednesday, amid outflow of foreign funds and higher international crude oil prices. However, positive local equities and broad dollar weakness limited fall in the counter. Indian shares rose notably on Wednesday, mirroring firm global cues after U.S. President Donald Trump announced trade agreements with Japan and the Philippines, easing concerns about the tariff war. The BSE Sensex surged 539.83 points, or 0.66 percent, to 82,726.64 while the broader NSE Nifty index closed up 159 points, or 0.63 percent, at 25,219.90. At the interbank foreign exchange, the domestic unit opened weak at 86.46 and recovered to a high of 86.34 against the greenback during the day. On the NSE, USDINR futures ended almost flat at 86.46. Powered by Capital Market - Live News
Business Standard
6 days ago
- Business
- Business Standard
INR pares intraday gains to settle marginally lower
The Indian rupee gave up initial gains to settle 4 paise lower at 86.16 (provisional) against the US dollar on Friday, 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. Dollar index gave back recent gains and is quoting lower by 0.4% at 98.06. Meanwhile, Indian shares fell notably on Friday, with uncertainty over U.S. tariffs and a muted start to the quarterly earnings season weighing on markets. The benchmark S&P/BSE Sensex fell 501.51 points, or 0.61 percent, to 81,757.73 while the broader NSE Nifty index closed at 24,968.40, down 143.05 points, or 0.57 percent, from its previous close. At the interbank foreign exchange, the rupee opened higher against the US 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. On the NSE, USDINR futures were marginally lower at 86.17.
Business Standard
6 days ago
- Business
- Business Standard
Mild dollar pullback likely to support INR
Mild pullback in dollar overseas could likely support the Indian rupee in opening trades on Friday. Yesterday, rupee declined 15 paise to settle at 86.07 against the US dollar 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-US trade talks further pressured the rupee. The benchmark S&P/BSE Sensex ended the session down 375.24 points, or 0.45 percent, at 82,259.24 despite mostly positive cues from global markets. The broader NSE Nifty index dropped 100.60 points, or 0.40 percent, to 25,111.45. At the interbank foreign exchange, the rupee opened at 85.93 against the US dollar and traded in the range of 85.80-86.09 during the day. On the NSE, USDINR futures pared early losses and settled only marginally lower at 85.97.
