Rupee falls 10 paise to close at 82.85 against U.S. dollar
The Hindu
On the domestic macroeconomic front, India's forex reserves dropped by $5.681 billion to $561.267 billion in the week ended February 17, the RBI said on Friday.
The rupee depreciated by 10 paise to close at 82.85 (provisional) against the U.S. currency on Monday as a stronger dollar in the overseas market and a muted trend in domestic equities weighed on investor sentiments.
At the interbank foreign exchange market, the rupee opened at 82.87 against the greenback and closed at 82.85 (provisional), registering a fall of 10 paise over its previous close of 82.75.
During the session, the domestic unit witnessed an intra-day high of 82.82 and a low of 82.94 against the American dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally lower at 105.15.
Global oil benchmark Brent crude futures advanced 0.46 per cent to $83.54 per barrel.
The Indian rupee depreciated on weak domestic markets and a strong greenback. Surge in crude oil prices and FII outflows also weighed on rupee, said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas.
Dollar strengthened on concerns over higher interest rates for longer amid higher inflation and upbeat economic data from the U.S., Mr. Choudhary added.
Viatris faces U.S. FDA import alert for products from Indore plant, exceptions made for certain shortages.
xAI’s Grok may soon come to an iOS app as the company announced its Series C funding round of $6 billion.
Biocon and Zentiva receive EU approval for Liraglutide, a complex formulation for diabetes and weight management.
Equity markets fluctuate as Sensex and Nifty rise initially, then fall; global markets and oil prices also discussed.
Microsoft has been working on adding internal and third-party AI models to power Microsoft 365 Copilot.
China's dominance in critical minerals poses supply chain vulnerabilities for India, US, and EU nations, requiring strategic diversification efforts.
India's controversial popcorn tax system sparks outrage and criticism, with opposition questioning the complex GST rates.
ICAI President investigates auditing lapses at Byju's, disciplinary committee probing, details undisclosed, part of ongoing investigations.
Sensex and Nifty rebound sharply after steep decline, driven by value buying, bluechip stocks, and global market rally.
AS-IT-IS Nutrition aims for ₹300 crore GMV in 2025 with ATOM range, endorsed by Ravindra Jadeja.
Adani Group acquires Air Works, India's largest MRO company, expanding its aviation services with a ₹400 crore deal.