Rupee ends flat at 85.64 against U.S. dollar
The Hindu
Rupee remains flat at 85.64 against the U.S. dollar amid foreign fund outflows and positive domestic equities.
The rupee settled flat at 85.64 against the U.S. dollar in the first session of 2025 on Wednesday (January 1, 2025), as gains from positive domestic equities were offset by unabated foreign fund outflows.
At the interbank foreign exchange, the rupee opened at 85.63 and touched an intraday low of 85.72 against the greenback during the session.
The unit ended the session at 85.64 against the dollar, unchanged from its previous close.
On Tuesday (December 31, 2024), the rupee depreciated 12 paise to close at a fresh all-time closing low of 85.64 against the U.S. dollar.
On December 27, the local currency touched its lifetime intraday low of 85.80 against the greenback.
The rupee remained well-bid on Wednesday (January 1, 2025). The Reserve Bank of India (RBI) sold around 85.7250 and ensured no more fall in the currency, as it rose to 85.62 but closed lower in a low-volume day due to a holiday in the U.S. and most corporates were absent from the scene, according to Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
“The rupee is still vulnerable to lower levels as dollar and yields remain well bid. The dollar index was at 108.4675 virtually unchanged from its morning level, while U.S. 10-year yields were at 4.5730%. Asian currencies generally remained stable...,” Mr. Bhansali added.