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Economic Times
8 hours ago
- Business
- Economic Times
Rupee falls 14 paise to 86.57 against US dollar in early trade
The rupee depreciated 14 paise to 86.57 against the US dollar in early trade on Thursday, as safe-haven demand amid prevailing risk-off sentiments pushed the dollar index higher. ADVERTISEMENT Forex traders said geopolitical uncertainties, prevailing risk-off sentiments, and elevated crude oil prices collectively pressured the local currency, while robust dollar demand from oil importers dented investment sentiments further. At the interbank foreign exchange, the domestic unit opened at 86.54 against the greenback, then touched an early high of 86.49 and a low of 86.57 against the greenback in initial trade. On Wednesday, the rupee depreciated 9 paise to close at 86.43 against the US dollar."As uncertainty grips the market, the rupee could remain on the weak side in the days to come. For the day, the range is expected between 86.25/75 as we await happenings in the Middle East, as also on the trade front," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors the US FED kept interest rates on hold despite Donald Trump's demand to cut them by 250 bps. ADVERTISEMENT "The signals from FED were mixed as they retained projections for 2 quarter-point rate cuts this year," Bhansali the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.06 per cent at 98.96. ADVERTISEMENT Brent crude, the global oil benchmark, fell 0.26 per cent to USD 76.50 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex advanced 33.49 points, or 0.04 per cent, to 81,478.15, while the Nifty rose 22.90 points, or 0.09 per cent, to 24,836.45. ADVERTISEMENT Foreign institutional investors (FIIs) purchased equities worth Rs 890.93 crore on a net basis on Wednesday, according to exchange data. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
9 hours ago
- Business
- Time of India
Rupee falls 14 paise to 86.57 against US dollar in early trade
The rupee depreciated 14 paise to 86.57 against the US dollar in early trade on Thursday, as safe-haven demand amid prevailing risk-off sentiments pushed the dollar index higher. Forex traders said geopolitical uncertainties , prevailing risk-off sentiments, and elevated crude oil prices collectively pressured the local currency, while robust dollar demand from oil importers dented investment sentiments further. At the interbank foreign exchange, the domestic unit opened at 86.54 against the greenback, then touched an early high of 86.49 and a low of 86.57 against the greenback in initial trade. On Wednesday, the rupee depreciated 9 paise to close at 86.43 against the US dollar. "As uncertainty grips the market, the rupee could remain on the weak side in the days to come. For the day, the range is expected between 86.25/75 as we await happenings in the Middle East, as also on the trade front," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. Live Events Meanwhile, the US FED kept interest rates on hold despite Donald Trump's demand to cut them by 250 bps. "The signals from FED were mixed as they retained projections for 2 quarter-point rate cuts this year," Bhansali said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.06 per cent at 98.96. Brent crude, the global oil benchmark, fell 0.26 per cent to USD 76.50 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex advanced 33.49 points, or 0.04 per cent, to 81,478.15, while the Nifty rose 22.90 points, or 0.09 per cent, to 24,836.45. Foreign institutional investors (FIIs) purchased equities worth Rs 890.93 crore on a net basis on Wednesday, according to exchange data.
The Hindu
15-05-2025
- Business
- The Hindu
Rupee slumps 18 paise to close at 85.50 against U.S. dollar
The rupee depreciated 18 paise to close at 85.50 (provisional) against the U.S. dollar on Thursday (May 15, 2025), weighed down by demand for American dollars from importers and foreign fund outflows. Forex traders the rupee declined on dollar demand. However, a surge in the domestic markets and overnight weakness in crude oil prices cushioned the downside. At the interbank foreign exchange, the domestic unit opened at 85.53 and moved between an intra-day high of 85.48 and a low of 85.73 against the greenback. The unit ended the session lower at 85.50 (provisional), registering a fall of 18 paise over its previous closing level. On Wednesday, the rupee pared most of its initial gains and ended the day higher by 4 paise at 85.32 against the American currency. Over the past two trading sessions, the rupee opened on a bullish note, but pared most of the gains and settled with marginal gains against the greenback. After a firm opening, it rose to near 84.62 on Tuesday and 85.05 on Wednesday, and lost momentum during the trading session. Going ahead, Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said "we expect the rupee to trade with a positive bias amid positive domestic markets and rise in risk appetite in global markets. Easing geopolitical tensions between India and Pakistan and easing trade tariff tensions between the U.S. and China may also support the rupee". "Traders may take cues from PPI, retail sales, Empire State manufacturing index, industrial production and weekly unemployment claims data from the US," Choudhary said, adding that USDINR spot price is expected to trade in a range of 85.20 to 85.90. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.28% at 100.75. Brent crude, the global oil benchmark, fell 3.72% to $63.63 per barrel in futures trade. Forex traders said investors are awaiting cues from US FED Chair Jerome Powell's speech on Thursday. His comments will be closely watched on how the Central Bank plans to proceed with Monetary Policy easing, they said. The domestic equity market faced heavy volatility on Thursday. The 30-share BSE Sensex after opening on a weak note, recovered the losses and finally settled with gains of 1,200.18 points, or 1.48%, to close at 82,530.74 points. In tandem, the Nifty opened weak but gained momentum during the day and ended the session on a positive note, up 395.20 points, or 1.60%, at 25,062.10 points. Foreign institutional investors (FIIs) bought equities worth ₹931.80 crore on a net basis on Wednesday, according to exchange data.
News18
15-05-2025
- Business
- News18
Rupee Falls 32 Paise To 85.64 Against US Dollar In Early Trade
Last Updated: The weakness of the American currency and easing crude oil prices offered some support to the local unit and restricted the downfall. The rupee depreciated 32 paise to 85.64 against the US dollar in early trade on Thursday, tracking a negative trend in domestic equities. Forex traders said investors are awaiting cues from US FED Chair Jerome Powell's speech on Thursday. His comments will be closely watched on how the Central Bank plans to proceed with Monetary Policy easing, they said. Meanwhile, the weakness of the American currency and easing crude oil prices offered some support to the local unit and restricted the downfall. At the interbank foreign exchange, the domestic unit opened at 85.53 and fell to 85.64 against the greenback, registering a loss of 32 paise over its previous close. On Wednesday, the rupee pared most of its initial gains and ended the day higher by 4 paise at 85.32 against the American currency. The rupee witnessed a modest depreciation on Wednesday. 'The move was largely driven by India's Wholesale Price Inflation data, which cooled to a 13-month low of 0.85 per cent in April," CR Forex Advisors MD Amit Pabari said. 'With inflation easing, expectations have risen that the RBI could consider another rate cut in its June monetary policy meeting. While this may be positive for growth in the medium term, in the short run, a cut in rates could pressure the rupee due to increased money supply and narrowing interest rate differentials," Pabari said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.23 per cent at 100.81. Brent crude, the global oil benchmark, fell 1.92 per cent to USD 64.82 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex declined 230.76 points, or 0.28 per cent, to 81,099.80, while the Nifty fell 54.95 points, or 0.22 per cent, to 24,611.95. Foreign institutional investors (FIIs) bought equities worth Rs 931.80 crore on a net basis on Wednesday, according to exchange data. PTI) First Published: May 15, 2025, 10:36 IST
Economic Times
15-05-2025
- Business
- Economic Times
Rupee falls 32 paise to 85.64 against US dollar in early trade
The rupee depreciated 32 paise to 85.64 against the US dollar in early trade on Thursday, tracking a negative trend in domestic equities. Forex traders said investors are awaiting cues from US FED Chair Jerome Powell's speech on Thursday. His comments will be closely watched on how the Central Bank plans to proceed with Monetary Policy easing, they said. ADVERTISEMENT Meanwhile, the weakness of the American currency and easing crude oil prices offered some support to the local unit and restricted the downfall. At the interbank foreign exchange, the domestic unit opened at 85.53 and fell to 85.64 against the greenback, registering a loss of 32 paise over its previous close. On Wednesday, the rupee pared most of its initial gains and ended the day higher by 4 paise at 85.32 against the American currency. The rupee witnessed a modest depreciation on Wednesday. "The move was largely driven by India's Wholesale Price Inflation data, which cooled to a 13-month low of 0.85 per cent in April," CR Forex Advisors MD Amit Pabari said. "With inflation easing, expectations have risen that the RBI could consider another rate cut in its June monetary policy meeting. While this may be positive for growth in the medium term, in the short run, a cut in rates could pressure the rupee due to increased money supply and narrowing interest rate differentials," Pabari said. ADVERTISEMENT Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.23 per cent at 100.81. Brent crude, the global oil benchmark, fell 1.92 per cent to USD 64.82 per barrel in futures trade. ADVERTISEMENT In the domestic equity market, the 30-share BSE Sensex declined 230.76 points, or 0.28 per cent, to 81,099.80, while the Nifty fell 54.95 points, or 0.22 per cent, to 24,611.95. Foreign institutional investors (FIIs) bought equities worth Rs 931.80 crore on a net basis on Wednesday, according to exchange data. (You can now subscribe to our ETMarkets WhatsApp channel)
