Rupee slips to fresh intraday low against the dollar The rupee opened at 90.53 against the US dollar in the interbank foreign exchange market and weakened further to an intraday low of 90.58, marking a decline of 9 paise from the previous close of 90.49. Market snapshot Previous close: 90.49 per USD Open: 90.53 per … Read more
The one-month non-deliverable forward suggests the Indian rupee is set to open slightly weaker against the US dollar, in a narrow band of 90.46–90.52. The onshore spot rupee had settled at 90.4150 on Friday. What the 1-month NDF means Non-deliverable forwards (NDFs) are contracts used to hedge and price currencies that are not freely tradable. … Read more
RBI’s gold reserves climb to $106.984 billion Reserve Bank of India’s latest data shows the country’s gold reserves are now valued at $106.984 billion. That is an increase of $1.033 billion from the previous week. Quick facts Current value: $106.984 billion Weekly change: +$1.033 billion Approximate rise: ~0.98% week-on-week What this means A weekly rise … Read more
The rupee is under pressure as importers step up aggressive dollar buying to pay for rising imports of precious metals, forex traders say. Surging global prices for metals such as gold and silver have pushed import bills higher, lifting demand for dollars and weighing on the local currency. Why importers are buying more dollars Global … Read more
Rupee slides to become Asia’s weakest currency this year The Indian rupee has fallen nearly 6% year-to-date against the US dollar, making it the weakest currency in Asia so far this year. The slide comes as steep US tariffs, some as high as 50%, on Indian goods hit exports to the country’s biggest trading partner … Read more
Rupee Likely to Face Downward Pressure Forex traders expect the rupee to trade with a negative bias after the delay in a trade deal between India and the US. The setback has the potential to dent investor confidence and increase caution among foreign funds and currency traders. Why the delay matters A trade agreement can … Read more
Market mood: rupee faces a negative bias Forex traders say the rupee is likely to trade with a negative bias amid muted domestic markets and sustained foreign fund outflows. The combination of low local demand and continued selling by overseas investors is keeping pressure on the currency. Why the rupee is under pressure Muted domestic … Read more
Rupee slips marginally against the US dollar The Indian rupee showed a little weakness in the interbank foreign exchange market, finishing the day at 89.96 against the US dollar (provisional). That was a decline of 9 paise from the previous close. Intraday movement Opening rate: 90.00 Intra-day low: 90.10 Closing (provisional): 89.96, down 9 paise … Read more
Rupee slips slightly after opening at 90.00 against the US dollar The Indian rupee opened the trading session at 90.00 against the US dollar in the interbank foreign exchange market. Early trading saw the currency lose ground and dip to 90.07, a move of seven paise from the open. Market snapshot Opening rate: 90.00 per … Read more
Dollar weakness keeps rupee from slipping further Forex traders say the rupee found support after the US dollar weakened in overseas markets. The softness in the greenback is being driven by growing expectations that the US Federal Reserve will cut interest rates in December. Why the dollar is under pressure Markets are increasingly pricing in … Read more