Rupee Rises 14 Paise to 96.28 Against per US Dollar
- On Friday, the rupee gained 14 paise to 96.28 against the USD, buoyed by positive sentiment in domestic equity markets after four days of depreciation.
- Geopolitical tensions in West Asia and higher global crude oil prices have pressured the rupee, preventing further gains despite the domestic market rally.
- Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, said "geopolitical uncertainties sustain demand for safe-haven assets," keeping the rupee range-bound with oil near USD 85 per barrel.
- President Donald Trump expanded airstrikes against Iran on Friday, targeting infrastructure to pressure Tehran regarding the Strait of Hormuz amid escalating regional tensions.
- Foreign Institutional Investors offloaded equities worth Rs 4,205.56 crore on Thursday, adding pressure on the rupee amid persistent volatility and global oil price concerns.
13 Articles
13 Articles
The Siasat Daily
Rupee rises 14 paise to close at 96.28 against US dollar
Mumbai: The rupee rose 14 paise to settle at 96.28 (provisional) against the US dollar on Friday on possible intervention from the Reserve Bank of India after four consecutive sessions of decline. Elevated tensions in West Asia, which pushed up global oil prices, maintained pressure on the local unit, forex traders said. In the interbank foreign exchange market, the rupee opened at 96.35 against the greenback and traded in a narrow range of 96.2…
Rupee rises 14 paise in early trade as Dalal Street cheers; oil adds limited gains
The rupee opened stronger against the US dollar on Friday, gaining fourteen paise in early trade. Upbeat equity markets provided support for the domestic currency's early gains. However, sustained foreign fund outflows and firm crude oil prices capped further appreciation. Geopolitical tensions in the Middle East kept investors cautious towards emerging market currencies. The rupee is expected to trade within a narrow range with a downside bias.
Rupee rises 14 paise to 96.28 against per US dollar
The rupee edged up fourteen paise against the US dollar in early trade on Friday. Positive domestic equity markets supported the local unit's slight gain. However, significant foreign institutional investor outflows capped further appreciation. Heightened West Asian tensions and rising global crude oil prices also impacted the rupee. The rupee is expected to trade within a narrow range for the day.
Rupee opens 4 paise higher at 96.31 against US dollar
The Indian rupee opened at 96.31 against the US dollar, facing pressure amid global risk sentiment and high oil prices. Despite foreign investments returning, the currency is close to its record low as the Reserve Bank of India intervenes to manage volatility.
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