logo
#

Latest news with #AnujChoudhary

Rupee falls 9 paise to close at 85.68 against U.S. dollar
Rupee falls 9 paise to close at 85.68 against U.S. dollar

The Hindu

time9 hours ago

  • Business
  • The Hindu

Rupee falls 9 paise to close at 85.68 against U.S. dollar

The rupee depreciated 9 paise to close at 85.68 (provisional) against U.S. dollar on Wednesday (July 2, 2025), on weak domestic equity markets and a rise in crude oil prices. Forex traders said a slight recovery in the U.S. dollar too weighed on the rupee as market players await the conclusion of India-U.S. trade deal, which is at its final stage. At the interbank foreign exchange, the domestic unit opened at 85.59 against the greenback and touched an intra-day high of 85.57 and a low of 85.75 against the greenback during the day. At the end of Wednesday's (July 2, 2025) trading session, the local unit was at 85.68 (provisional), down 9 paise over its previous closing price. On Tuesday (July 1, 2025), the rupee appreciated 17 paise to close at 85.59 against the U.S. dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.14% to 96.95. Brent crude, the global oil benchmark, went up by 0.92% to $67.73 per barrel in futures trade. "We expect the rupee to decline on trade tariff uncertainty as the July 9 deadline is approaching. Incoming statements by US President Donald Trump regarding tariffs is keeping the markets on the hook," said Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan. Hectic negotiations between India and the U.S. entered the sixth day on Tuesday (July 1, 2025) in Washington, with the talks reaching a crucial stage and New Delhi demanding greater market access for its labour-intensive goods. The Indian team, headed by special secretary in the Department of Commerce Rajesh Agrawal, is in Washington for negotiations on an interim trade agreement with the U.S. The two sides are looking at finalising the talks before the July 9 deadline. The 10-year U.S. bond yields are also off their lows. However, improved global risk sentiments amid ceasefire between Israel and Iran may support the rupee at lower levels, Mr. Choudhary said, adding, "USD-INR spot price is expected to trade in a range of 85.45 to 86.05." In the domestic equity market, the 30-share BSE Sensex declined 287.60 points, or 0.34%, to 83,409.69, while the Nifty fell 88.40 points, or 0.035%, to 25,453.40. Foreign institutional investors (FIIs) purchased equities worth ₹890.93 crore on a net basis on Wednesday (July 2, 2025), according to exchange data.

Rupee falls 9 paise to close at 85.68 against US dollar
Rupee falls 9 paise to close at 85.68 against US dollar

Mint

time10 hours ago

  • Business
  • Mint

Rupee falls 9 paise to close at 85.68 against US dollar

Mumbai, The rupee depreciated 9 paise to close at 85.68 against US dollar on Wednesday, on weak domestic equity markets and a rise in crude oil prices. Forex traders said a slight recovery in the US dollar too weighed on the rupee as market players await the conclusion of India-US trade deal, which is at its final stage. At the interbank foreign exchange, the domestic unit opened at 85.59 against the greenback and touched an intra-day high of 85.57 and a low of 85.75 against the greenback during the day. At the end of Wednesday's trading session, the local unit was at 85.68 , down 9 paise over its previous closing price. On Tuesday, the rupee appreciated 17 paise to close at 85.59 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.14 per cent to 96.95. Brent crude, the global oil benchmark, went up by 0.92 per cent to USD 67.73 per barrel in futures trade. "We expect the rupee to decline on trade tariff uncertainty as the July 9 deadline is approaching. Incoming statements by US President Donald Trump regarding tariffs is keeping the markets on the hook," said Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan. Hectic negotiations between India and the US entered the sixth day on Tuesday in Washington, with the talks reaching a crucial stage and New Delhi demanding greater market access for its labour-intensive goods. The Indian team, headed by special secretary in the Department of Commerce Rajesh Agrawal, is in Washington for negotiations on an interim trade agreement with the US. The two sides are looking at finalising the talks before the July 9 deadline. The 10-year US bond yields are also off the lows. However, improved global risk sentiments amid ceasefire between Israel and Iran may support the rupee at lower levels, Choudhary said, adding, "USD-INR spot price is expected to trade in a range of 85.45 to 86.05." In the domestic equity market, the 30-share BSE Sensex declined 287.60 points, or 0.34 per cent, to 83,409.69, while the Nifty fell 88.40 points, or 0.035 per cent, to 25,453.40. Foreign institutional investors purchased equities worth ₹ 890.93 crore on a net basis on Wednesday, according to exchange data. This article was generated from an automated news agency feed without modifications to text.

Rupee rises 25 paise to close at 85.51 against U.S. dollar
Rupee rises 25 paise to close at 85.51 against U.S. dollar

The Hindu

time12 hours ago

  • Business
  • The Hindu

Rupee rises 25 paise to close at 85.51 against U.S. dollar

Rupee appreciated 25 paise to close at 85.51 (provisional) against the U.S. dollar on Tuesday (July 1, 2025), supported by weakness of the American currency in the overseas market and a positive tone in the domestic equities amid rise in risk appetite. Forex traders said the U.S. dollar is trading at lowest levels since February 2022 as President Donald Trump's growing influence on Federal Reserve policy revived fears over the central bank's independence. Moreover, Brent crude prices remained subdued, offering a buffer to India's import bill and helping cool inflation. At the interbank foreign exchange, the domestic unit opened at 85.66 against the greenback. During the day, it witnessed an intraday high of 85.34. The domestic unit settled for the day at 85.51 (provisional), registering a rise of 25 paise over its previous close. On Monday (June 30, 2025), the rupee settled 26 paise down at 85.76 against the dollar. 'We expect the rupee to gain on the decline in U.S. dollar and rise in risk appetite in global markets. Gold is trading at lowest levels since February 2022 and 10-year U.S. bond yields briefly slipped below 4.2%,' Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan said. 'However, recovery in crude oil prices may cap sharp gains. Traders may take cues from ISM manufacturing PMI, and JOLTS job data from the U.S. and Fed Chair Jerome Powell's speech,' Mr. Choudhary said, adding that 'USD-INR spot price is expected to trade in a range of 85.20 to 85.85.' Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.46% to 96.43. Brent crude, the global oil benchmark, went down 0.24% to $66.58 per barrel in futures trade. In the domestic equity market, Sensex advanced 90.83 points or 0.11% to 83,697.29, while Nifty rose 24.75 points or 0.10% to 25,541.80. Foreign institutional investors (FIIs) offloaded equities worth ₹831.50 crore on a net basis on Monday (June 30, 2025), according to exchange data. On the domestic macroeconomic front, India's industrial production growth slowed to a nine-month low of 1.2% in May 2025 due to poor performance of the manufacturing, mining and power sectors caused by the early onset of monsoon, according to official data released on Monday (June 30, 2025). The Central Government's fiscal deficit fell to 0.8% of the full-year target at the end of May, mainly due to a whopping ₹2.69 lakh crore dividend received from the Reserve Bank of India.

Rupee rises 17 paise to close at 85.59 against US dollar
Rupee rises 17 paise to close at 85.59 against US dollar

The Print

time19 hours ago

  • Business
  • The Print

Rupee rises 17 paise to close at 85.59 against US dollar

Forex traders said the US dollar is trading at lowest levels since February 2022 as President Donald Trump's growing influence on Federal Reserve policy revived fears over the central bank's independence. Mumbai, Jul 1 (PTI) Rupee appreciated 17 paise to close at 85.59 against the US dollar on Tuesday, supported by weakness of the American currency in the overseas market and a positive tone in the domestic equities amid rise in risk appetite. At the interbank foreign exchange, the domestic unit opened at 85.66 against the greenback. During the day, it witnessed an intraday high of 85.34. The domestic unit settled for the day at 85.59, registering a rise of 17 paise over its previous close. On Monday, the rupee settled 26 paise down at 85.76 against the dollar. 'We expect the rupee to gain on the decline in US dollar and rise in risk appetite in global markets. Gold is trading at lowest levels since February 2022 and 10-year US bond yields briefly slipped below 4.2 per cent,' Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan said. 'However, recovery in crude oil prices may cap sharp gains. Traders may take cues from ISM manufacturing PMI, and JOLTS job data from the US and Fed Chair Jerome Powell's speech,' Choudhary said, adding that 'USD-INR spot price is expected to trade in a range of 85.20 to 85.85.' Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.46 per cent to 96.43. Brent crude, the global oil benchmark, went down 0.24 per cent to USD 66.58 per barrel in futures trade. In the domestic equity market, Sensex advanced 90.83 points or 0.11 per cent to 83,697.29, while Nifty rose 24.75 points or 0.10 per cent to 25,541.80. Foreign institutional investors (FIIs) offloaded equities worth Rs 1,970.14 crore on a net basis on Tuesday, according to exchange data. On the domestic macroeconomic front, India's manufacturing sector growth rose to a 14-month high of 58.4 in June marked by improved trends in output and new orders, alongside a record upturn in employment, a monthly survey showed on Tuesday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index – an indicator of sector performance – was 57.6 in May. Meanwhile, the government's gross GST collections increased by 6.2 per cent to over Rs 1.84 lakh crore in June but slipped below the Rs 2 lakh crore mark recorded in the previous two months. Gross GST (Goods and Services Tax) collections stood at Rs 1,73,813 crore a year ago, as per government data released on Tuesday. Another set of data released on Monday showed India's industrial production growth, however, slowed to a nine-month low of 1.2 per cent in May 2025 due to poor performance of manufacturing, mining and power sectors caused by the early onset of monsoon. The government's fiscal deficit fell to 0.8 per cent of the full-year target at the end of May, mainly due to a whopping Rs 2.69 lakh crore dividend received from the Reserve Bank of India. PTI DRR HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.

Rupee falls 26 paise to close at 85.76 against US dollar
Rupee falls 26 paise to close at 85.76 against US dollar

The Print

time2 days ago

  • Business
  • The Print

Rupee falls 26 paise to close at 85.76 against US dollar

At the interbank foreign exchange, the rupee opened at 85.48 against the US dollar and witnessed an intra-day high of 85.44 and low of 85.77 before settling at 85.76, down 26 paise from its previous close. Forex traders said the rupee opened in the positive on improved global risk sentiments, however, a negative trend in domestic equities dented investor sentiments and dragged down the local unit. Mumbai, Jun 30 (PTI) The rupee pared initial gains and settled for the day in the negative territory, down 26 paise at 85.76 against the US dollar on Monday, on weak domestic equities and a bounce back in crude oil prices. On Friday, the rupee rose 22 paise to close at 85.50 against the greenback. 'Indian rupee declined on Monday on weak domestic equities and a bounce back in crude oil prices. Month-end dollar demand also pressured the domestic currency,' said Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan. However, a weak tone in the US dollar prevented a sharp fall in the rupee. The US dollar fell on better-than-expected inflation data from the US, Choudhary said. 'We expect the rupee to gain on weakness in the US dollar in improved global risk sentiments. However, any recovery in crude oil prices may cap sharp gains,' Choudhary said, adding, 'USDINR spot price is expected to trade in a range of 85.30 to 85.85'. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.26 per cent to 97.14. Brent crude, the global oil benchmark, went down 0.28 per cent to USD 67.58 per barrel in futures trade. 'The US dollar fell a bit on Monday to 97.22 remaining close to multi-year lows and weighed by optimism over trade deals as well as growing expectations of the FED reserve cutting interest rates in the near future,' Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. In the domestic equity market, the 30-share BSE Sensex fell 452.44 points, or 0.54 per cent, to close at 83,606.46, while the Nifty declined 120.75 points, or 0.47 per cent, to 25,517.05. Foreign institutional investors (FIIs) purchased equities worth Rs 831.50 crore on a net basis on Monday, according to exchange data. Meanwhile, NSO data showed that India's industrial production (IIP) growth slowed to a nine-month low of 1.2 per cent in May 2025 due to poor performance of manufacturing, mining and power sectors caused by the early onset of monsoon, according to official data released on Monday. The central government's fiscal deficit fell to 0.8 per cent of the full-year target at the end of May, mainly due to a Rs 2.69 lakh crore dividend received from the Reserve Bank of India. The fiscal deficit, or gap between the government's expenditure and revenue, had touched 11.9 per cent of the Budget Estimates (BE) for 2025-26 or Rs 1.86 lakh crore in April. Meanwhile, India's forex reserves dropped USD 1.01 billion to USD 697.93 billion during the week ended June 20, the Reserve Bank of India said on Friday. In the previous week, the reserves had jumped USD 2.29 billion to USD 698.95 billion. Forex reserves had touched an all-time high of USD 704.885 billion in September 2024. PTI DRR TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store