Markets end higher in highly volatile trade led by bank stocks
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News18
an hour ago
- News18
Rupee falls 20 paise to close at 86.12 against US dollar
Mumbai, Jul 17 (PTI) The rupee declined 20 paise to settle at 86.12 against the US dollar on Thursday amid a stronger greenback, outflow of foreign funds and volatile global crude oil prices. Selling trend in the domestic equity markets and uncertainties over the outcome of the ongoing India-US trade talks further pressured the rupee, according to forex traders. At the interbank foreign exchange, the rupee opened at 85.93 against the US dollar and traded in the range of 85.80-86.13 during the day before settling at 86.12, down 20 from its previous close. The rupee had declined 16 paise against the US dollar to close at 85.92 on Wednesday. 'The strong dollar index kept rupee weak while fall in Asian currencies also did not help as rupee continued to depreciate towards 86 levels. Near-term premiums rose on the VRRR auctions by the RBI while one-year premiums were generally constant," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. 'For tomorrow (Friday) we expect the range of 85.75 to 86.25 to continue with trade deals are the only things to be watched for," he said. An Indian commerce ministry team is in Washington for another round of talks on the proposed India-US bilateral trade agreement. The four-day talks, which started on Monday, are expected to conclude on Thursday. US President Donald Trump has said the proposed trade deal with India would be on the lines of what America has finalised with Indonesia on Tuesday. Brent crude, the global oil benchmark, was marginally down by 0.06 per cent to USD 68.48 per barrel in futures trade. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.25 per cent to 98.63. On the domestic equity market front, the Sensex fell 375.24 points to settle at 82,259.24, while Nifty was down 100.60 points to 25,111.45. Foreign institutional investors (FIIs) sold equities worth Rs 3,694.31 crore on a net basis on Thursday, according to exchange data. PTI TRB HVA view comments First Published: July 17, 2025, 20:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
2 hours ago
- News18
Indonesia To Pay 19% One-Way Tariffs, Buy 50 Boeing Jets From US As Trump Announces Trade Deal
Donald Trump announced new trade deal with Indonesia and shared the details of the same on Truth Social. President Donald Trump on Tuesday (local time) said that he has reached a new trade agreement with Indonesia, as per which the Asian country will pay reduced 19% tariffs to America on its exports, while the US will pay no such levies in return on its products. Trump revealed the details of the trade deal on his social media platform, Truth Social, said that the Asian country will buy US Energy, agricultural products, and 50 Boeing jets as part of the deal. 'This landmark Deal opens up Indonesia's ENTIRE MARKET to the United States for the first time in History. As part of the Agreement, Indonesia has committed to purchasing $15 Billion Dollars in U.S. Energy, $4.5 Billion Dollars in American Agricultural Products, and 50 Boeing Jets, many of them 777's. For the first time ever, our Ranchers, Farmers, and Fishermen will have Complete and Total Access to the Indonesian Market of over 280 million people," he said. 'In addition, Indonesia will pay the United States a 19% Tariff on all Goods they export to us, while U.S. Exports to Indonesia are to be Tariff and Non Tariff Barrier FREE. If there is any Transshipment from a higher Tariff Country, then that Tariff will be added on to the Tariff that Indonesia is paying," Trump added. Markets React With Caution The iShares MSCI Indonesia ETF rose as much as 0.7% in early trading Tuesday following Donald Trump's announcement but broader markets remained mostly stable. The S&P 500 was little changed as investors appeared to take a wait-and-see approach. US-Indonesia Trade Talks Last week, Indonesia dispatched its top trade negotiator to Washington in hopes of securing a resolution and avoiding the looming tariff. According to Indonesian officials, Coordinating Minister for Economic Affairs Airlangga Hartarto held closed-door talks last week with several senior US officials, including US Trade Representative Jamieson Greer, Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent. During those meetings, Airlangga Hartarto reportedly presented a series of bilateral business proposals and investment opportunities. Donald Trump's Tariffs Since April, Donald Trump has unveiled a series of country-by-country tariff demands, leaving trade partners scrambling to respond before arbitrary deadlines. Donald Trump's Indonesia announcement follows similar moves with Vietnam, the UK, and China. Most of these declarations, however, have fallen short of formal trade deals. Donald Trump's latest round of letters extended a July 9 deadline to August 1, warning countries that new tariffs would take effect unless they strike 'better terms" with Washington. Get breaking news, in-depth analysis, and expert perspectives on everything from geopolitics to diplomacy and global trends. Stay informed with the latest world news only on News18. Download the News18 App to stay updated! view comments First Published: July 15, 2025, 22:12 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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Business Standard
2 hours ago
- Business Standard
Rupee drops to three-week low as dollar strengthens, FPIs limit fall
The rupee depreciated past the psychologically crucial 86-per-dollar mark on Thursday, tracking the strengthening US dollar, to settle at a three-week low of 86.08 per dollar, said dealers. The local currency had settled at 85.94 on Wednesday. Market participants said foreign inflows and dollar sales by exporters capped losses. 'In line with its Asian counterparts, the Indian rupee weakened against the US dollar. The dollar's rally was fuelled by President Trump's statement that he does not intend to fire Federal Reserve Chairman Jerome Powell. Even with significant dollar inflows into the primary market, the rupee followed the regional trend, closing at 86.08,' said Dilip Parmar, Senior Research Analyst at HDFC Securities. The dollar index gained 0.4 per cent to reach 98.7, reversing earlier losses after President Donald Trump addressed speculation about the future of Federal Reserve Chair Jerome Powell. The greenback had initially weakened amid concerns that Trump might attempt to remove Powell, but rebounded once the President downplayed the likelihood of such a move, calling it 'highly unlikely'. The dollar index measures the strength of the greenback against a basket of six major currencies. 'The Indian rupee was in a range of 85.79 to 86.1025 as there were inflows from the QIP of Reliance Power, while outflows from certain IPOs (Anthem Bio Sciences was subscribed 63 times, so a good-sized outflow has happened) kept it in a range. FPIs and oil companies continued to remain dollar buyers amid uncertainties in the world markets and trade deal negotiations also not getting finalised,' said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP. 'FPIs bought strongly between 85.97 and 86.1025, with the market caught short. The strong dollar index kept the rupee weak, while the fall in Asian currencies also did not help as the rupee continued to depreciate towards 86 levels,' he added.
