Local currency opens weaker at 89.95 to the dollar The local unit opened the interbank foreign exchange market at 89.95 against the dollar, slipping by 5 paise from its previous close. The small move reflects a modest weakening of the currency in early trade, as participants digest global cues and domestic flows. How significant is … Read more
Rupee Set to Open Largely Flat After Friday’s Settlement The 1-month non-deliverable forward (NDF) suggests the Indian rupee will open largely flat on Monday, following a Friday close at 89.85 per US dollar. Traders and businesses will be watching early moves closely for signs of momentum after a relatively calm finish to the week. What … Read more
A financial report released earlier this month struck a balanced note on the Indian rupee. It warned of near-term pressure on the currency but projected a modest recovery by 2026, putting the rupee broadly around the 90-per-dollar mark. The mixed outlook reflects competing forces — global dollar strength and domestic resilience — that will shape … Read more
Gold Reserves Jump by USD 2.623 Billion to USD 110.365 Billion Gold reserves have recorded a notable rise of USD 2.623 billion, lifting the total holdings to USD 110.365 billion. That represents roughly a 2.4% increase from the prior level of about USD 107.742 billion. While the headline number is straightforward, the implications and drivers … Read more
Rupee closes lower at 89.86, pares earlier losses At the end of trading on Friday, the Indian rupee settled at 89.86 to the US dollar (provisional), slipping 15 paise from its previous close. The move shows the currency gave up some earlier gains but avoided a larger slide as market participants balanced domestic and global … Read more
Rupee slips further, trades at 89.94 against the dollar The local currency opened the day at 89.84 to the US dollar on the interbank foreign exchange but lost ground and was trading at 89.94, down 23 paise from the previous close of 89.71. The modest retreat reflects continued demand for the dollar and cautious sentiment … Read more
Central bank statements fail to lift market mood Recent announcements from the central bank did not succeed in lifting investor optimism. Traders in the foreign exchange market say persistent demand for the US dollar and a climb in crude oil prices have kept pressure on sentiment, outweighing whatever reassurance the central bank tried to offer. … Read more
The Indian rupee showed a modest recovery in early trade at the interbank foreign exchange market, opening at 89.56 against the US dollar and then strengthening to 89.51. That move represented a gain of 12 paise over its previous close. Market snapshot: small gain, steady tone The intraday movement was subtle but notable: after opening … Read more
Why the local currency didn’t rise more despite positive momentum Currency markets showed some strength for the local unit, but gains were muted. Forex traders point to two main headwinds: a rise in global crude oil prices and continued foreign capital outflows. Together, these forces acted as a brake on sharper appreciation. How crude oil … Read more
Global central banks are trimming their dollar holdings A recent report finds that the share of the US dollar in global central bank reserves has been falling steadily. That shift is subtle but meaningful: central banks around the world are gradually reducing how much of their foreign-exchange buffers are held in dollars and reallocating to … Read more