Rupee falls 4 paise to 83.26 against U.S. dollar in early trade
The Hindu
Rupee depreciates 4 paise to 83.26 vs US dollar, due to strong American currency & FII outflows. Dollar index down 0.01% & Brent crude up 0.15%. Sensex & Nifty up 0.53% & 0.56% respectively. RBI selling US dollars to protect rupee from further depreciation.
The rupee depreciated 4 paise to 83.26 against the U.S. dollar in the morning session on Friday, tracking a strong American currency overseas and sustained foreign fund outflows.
Forex traders said a positive trend in domestic equities supported the local unit at lower levels and restricted the downside.
At the interbank forex exchange, the rupee opened at 83.22 then touched 83.26 against the American currency, registering a decline of 4 paise over its previous close.
On Thursday, the rupee had settled at 83.22 against the U.S. dollar.
Most traders are betting that the U.S. FED is done with rate hikes and therefore we saw some reprieve in the rising dollar index, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
Mr. Bhansali further said "the rupee is expected to remain in the same range as RBI continues to sell U.S. dollars and protect the rupee from any depreciation beyond 83.30."
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.01 per cent lower at 106.11.
CBIT and Customs clarify that reports on GST rate hike are premature and speculative, pending final recommendations from GoM.
Titan's Tanishq aims for double-digit growth in diamond jewelry sales in India, partnering with De Beers for promotion.
Sensex and Nifty rise for third day, led by blue-chip stocks; global markets show firm trends.
Digital Naukri is the fourth prize challenge by The/Nudge Institute in a series of grand challenges that focus on scalable solutions for complex livelihood challenges, ensuring urgency and a sharp focus on supporting the vulnerable segments of society.
Rupee hits all-time low against US dollar due to Trump's tariff threat, geopolitical tensions, and foreign outflows.
Stay informed with the latest updates from The Hindu’s updates on Sensex and Nifty
RBI reports significant decline in circulation of ₹2,000 banknotes since withdrawal announcement in May 2023.
The United States on Monday launched its third big crackdown in three years on China’s semiconductor industry.
Intel CEO Pat Gelsinger has retired, the struggling chipmaker said Monday.
Bangladesh reduces power purchase from Adani due to lower winter demand and payment disputes, facing mounting dues.
Škoda Auto India introduces the Kylaq SUV with four variants, starting at ₹7.89 lakh, promising a game-changing customer experience.