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The Print
2 days ago
- Business
- The Print
Rupee rises 22 paise to close at 85.50 against US dollar
Foreign institutional investors (FIIs) purchased equities worth Rs 1,397.02 crore on a net basis on Friday, according to exchange data. This inflow came on the heels of a net buying of equities worth Rs 12,594.38 crore on Thursday. Lower level of American currency index also favoured the Indian unit though an uptrend in crude oil prices capped its gain, forex traders said. Mumbai, Jun 27 (PTI) The rupee rose 22 paise to close at 85.50 against the greenback on Friday on the back of sustained inflow of foreign funds and firm domestic equity markets. At the interbank foreign exchange, the rupee opened at 85.50 against the dollar and traded in the range of 85.43-85.65 before settling at 85.50, up 22 paise from its previous close. The local unit rose 36 paise to close at 85.72 against the US dollar on Thursday. 'FII inflows and falling dollar index allowed the rupee to move higher. The RBI is also buying the dips to liquidate its month-end positions,' Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. 'The Trump tariff's date of July 9 is fast approaching and… market remains gripped with uncertainty. Therefore, there is a chance of rupee hitting 86 next week,' he said. The dollar index, which gauges the greenback's strength against a basket of six currencies, inched up 0.10 per cent to 97.24 after declining earlier in the day. Brent crude, the global oil benchmark, went up 0.72 per cent to USD 68.22 per barrel in futures trade after declining in the previous session. Meanwhile, in the domestic equity market, Sensex climbed 303.03 points to settle at 84,058.90, while Nifty rose 88.80 points to 25,637.80. According to Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan, the US dollar fell on disappointing GDP data from the US. However, a slight recovery in crude oil prices capped sharp gains. 'USD-INR spot price is expected to trade in a range of Rs 85.15 to Rs 85.80.' The Reserve Bank of India (RBI) on Friday said India's forex reserves dropped by USD 1.01 billion to USD 697.93 billion during the week ended June 20. In the previous reporting week, the reserves had jumped by USD 2.29 billion to USD 698.95 billion. 'India's Balance of Payments during the Fourth Quarter (January-March) of 2024-25' released by Reserve Bank of India showed the country recorded a current account surplus of USD 13.5 billion or 1.3 per cent of GDP in March quarter 2024-25 as compared to USD 4.6 billion in the year-ago period mainly on account of surge in services exports and higher remittances. However, on annual basis, the current account was in deficit at USD 23.3 billion (0.6 per cent of GDP) during 2024-25. PTI TRB HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
3 days ago
- Business
- Time of India
Rupee recovers ground, rises 24 paise to 85.48 against dollar, FII inflows and equity gains support rally
The rupee appreciated 24 paise to settle at 85.48 against the US dollar on Friday, supported by strong foreign fund inflows and firm domestic equity markets. At the interbank foreign exchange, the rupee opened at 85.50 and moved between 85.43 and 85.65 during the day before closing at 85.48 (provisional), up from its previous close of 85.72. Forex traders said the decline in the dollar index and positive risk sentiment supported the rupee, although rising crude oil prices capped further gains. "FII inflows and falling dollar index allowed the rupee to move higher. The RBI is also buying the dips to liquidate its month-end positions," said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, quoted PTI. Foreign institutional investors purchased equities worth Rs 12,594.38 crore on a net basis on Thursday, as per exchange data. However, traders remain cautious ahead of the July 9 deadline for the implementation of US President Donald Trump's new tariff measures. "The Trump tariff's date of July 9 is fast approaching and... market remains gripped with uncertainty. Therefore, there is a chance of rupee hitting 86 next week," Bhansali added. The dollar index, which tracks the greenback against six major currencies, edged up 0.10% to 97.24 after earlier losses. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 지금 모두가 공유하고, 스트리밍하고, 플레이하는 RPG 게임 레이드 섀도우 레전드 설치하기 Undo Brent crude, the global benchmark, rose 0.72% to $68.22 per barrel in futures trade after easing in the previous session. On the equities front, the 30-share BSE Sensex climbed 303.03 points to end at 84,058.90, while the broader NSE Nifty gained 88.80 points to 25,637.80. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Hindu
3 days ago
- Business
- The Hindu
Rupee rises 24 paise to close at 85.48 against U.S. dollar
The rupee rose 24 paise to close at 85.48 (provisional) against the greenback on Friday (June 27, 2025) on the back of strong FII inflows and firm domestic equity markets. Lower level of American currency index also favoured the Indian currency though an uptrend in crude oil prices capped its gain, forex traders said. Foreign institutional investors (FIIs) purchased equities worth ₹12,594.38 crore on a net basis on Thursday (June 26, 2025), according to exchange data. At the interbank foreign exchange, the rupee opened at 85.50 against the dollar and traded in the range of 85.43-85.65 before settling at 85.48 (provisional), up 24 paise from its previous close. The local unit rose 36 paise to close at 85.72 against the U.S. dollar on Thursday (June 26, 2025). 'FII inflows and falling dollar index allowed the rupee to move higher. The RBI is also buying the dips to liquidate its month-end positions,' Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. 'The Trump tariff's date of July 9 is fast approaching and... market remains gripped with uncertainty. Therefore, there is a chance of rupee hitting 86 next week,' he said. The dollar index, which gauges the greenback's strength against a basket of six currencies, inched up 0.10% to 97.24 after declining earlier in the day. Brent crude, the global oil benchmark, went up 0.72% to $68.22 per barrel in futures trade after declining in the previous session. Meanwhile, in the domestic equity market, Sensex climbed 303.03 points to settle at 84,058.90, while Nifty rose 88.80 points to 25,637.80.
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Business Standard
3 days ago
- Business
- Business Standard
Rupee posts best week since Jan 2023 as oil prices slide; ends below 85.5/$
The Indian rupee strengthened for the second consecutive day on Friday, supported by likely inflows from global funds and a weaker dollar index. The domestic currency closed 22 paise higher at 85.49, a day after closing at 86.71 against the dollar, according to Bloomberg. The currency has depreciated by around 0.1 per cent so far this month, making it one of the worst-performing Asian currencies. On a weekly basis, the currency saw its best week since January 2023, driven mainly by a plunge in crude oil prices amid Iran-Israel conflicts. Rupee traded strong as the dollar index continued its weak trend below the 97 mark, according to Jateen Trivedi, VP research analyst - commodity and currency at LKP Securities. The rupee has strengthened over the last few sessions, supported by easing tensions in West Asia and a sharp 12-14 per cent drop in crude prices, he said. Inflows dominated outflows yesterday, lifting the rupee by 38 paise, and a similar trend is anticipated today, according to Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP. "However, potential outflows from oil payments, Reserve Bank of India (RBI) dollar purchases, and global funds buying may cap gains." A significant outflow of around $1 billion could also occur due to JSW Paints' acquisition of Akzo Nobel, Bhansali said, adding that the final day of the HDB Financial issue could trigger additional inflows. The dollar index was slightly higher driven by hopes for a rate cut by the US Federal Reserve. The first quarter consumer spending grew at the weakest pace since the pandemic. The US dollar index, which measures the greenback against a basket of six major currencies, was up 0.10 per cent at 97.24. On Thursday, White House Press Secretary Karoline Leavitt said that US President Donald Trump could extend the July 9 deadline to impose reciprocal tariffs in a bid to secure deals with other trading nations. This sent the equity market higher on Wall Street. Meanwhile, crude oil prices were headed for weekly losses as concerns over West Asia cleared after the Iran-Israel ceasefire. Brent crude price was up 0.69 per cent at $68.20 per barrel, while WTI crude prices were higher by 0.74 per cent at 65.72, as of 3:35 PM IST.
Economic Times
3 days ago
- Business
- Economic Times
Rupee rises 23 paise to 85.49 against US dollar in early trade
The rupee rose 23 paise to 85.49 against the US dollar in early trade on Friday, aided by strong FII inflows and positive sentiments in the domestic equity markets. ADVERTISEMENT However, a rise in global crude oil prices and a slightly stronger greenback capped further gains in the local unit, forex traders said. Foreign institutional investors (FIIs) purchased equities worth Rs 12,594.38 crore on a net basis on Thursday, according to exchange data. At the interbank foreign exchange, the rupee opened at 85.50 against the dollar before inching up to 85.49, higher by 19 paise from its previous close. The local unit rose 36 paise to close at 85.72 against the US dollar on Thursday. "The rupee is expected to be within a range of 85.35-85.95 as inflows dominated outflows yesterday (Thursday), taking the Indian currency up. We expect the same today (on Friday), though there could be outflows from oil, RBI buying, and FPI buying dollars," Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, said. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.10 per cent at 97.24. ADVERTISEMENT Brent crude, the global oil benchmark, went up 0.47 per cent to USD 68.05 per barrel in futures trade after declining in the previous session. "Brent oil prices rose slightly in Asian trading on some resilience in US demand but were set for weekly losses this week as concerns over the Middle East demands cleared after the Iran-Israel ceasefire," Bhansali said. Meanwhile, in the domestic equity market, Sensex rose 229.22 points to 83,985.09 in early trade, while Nifty was up 73.5 points to 25,622.50. (You can now subscribe to our ETMarkets WhatsApp channel)
