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Time of India
7 hours ago
- Business
- Time of India
Currency watch: Rupee ends 18 paise lower at 86.70 against dollar; trade jitters and Fed uncertainty weigh on sentiment
The rupee gave up early gains and settled 18 paise lower at 86.70 against the US dollar on Monday, pressured by persistent month-end dollar demand from importers and caution ahead of key trade and monetary policy decisions. Tired of too many ads? go ad free now After opening at 86.47 at the interbank foreign exchange, the domestic unit briefly strengthened to an intra-day high of 86.40 before slipping to the day's low of 86.70, where it eventually settled. On Friday, the rupee had closed at 86.52, PTI reported. Traders attributed the rupee's weakness to broad dollar strength following the EU-US trade pact and lingering uncertainty over India's own trade talks with the US ahead of the August 1 deadline. 'The Indian rupee has depreciated against the US dollar, mirroring the trend of most Asian currencies. This weakening is largely attributed to the strengthening dollar, which gained momentum following the recent EU-US trade deal,' said Dilip Parmar, Research Analyst at HDFC Securities. Parmar added that the spot USD-INR pair may find support at 86.10 and resistance at 86.75 in the near term. The dollar index rose 0.54% to 98.17, while Brent crude climbed 0.85% to $69.02 per barrel amid optimism that the EU-US deal could support future energy demand. In equities, the BSE Sensex dropped 572.07 points (0.70%) to 80,891.02 and the Nifty fell 156.10 points (0.63%) to 24,680.90. Foreign investors net sold shares worth Rs 6,082.47 crore, according to exchange data. 'Rupee is trading with a slight negative bias amid uncertainty ahead of the August 1 trade deal deadline,' said Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan. 'Month-end dollar demand from importers may also weigh on the domestic currency. Tired of too many ads? go ad free now USD-INR spot price is expected to trade in a range of Rs 86.35 to Rs 86.90.' He added that investor caution ahead of the upcoming monetary policy meetings of the US Federal Reserve and the Bank of Japan will also keep pressure on the rupee. Meanwhile, weak domestic data added to market nervousness. India's industrial output grew just 1.5% in June, the slowest pace in 10 months, hit by poor performance in mining and power sectors due to excess rains. India's forex reserves also declined by $1.183 billion to $695.489 billion in the week ended July 18, RBI data showed. Reserves had reached an all-time high of $704.885 billion in September 2024.
The Print
2 days ago
- Business
- The Print
Rupee weakens 12 paise to settle at 86.52 against US dollar
At the interbank foreign exchange, the domestic unit opened at 86.59 and hit the lowest level of 86.63 against the greenback. The unit touched the intra-day peak of 86.47 before ending the session at 86.52, registering a loss of 12 paise from its previous closing level. A strengthening American currency overseas and foreign fund outflows further weighed on the local unit, forex traders said. Mumbai, Jul 25 (PTI) The rupee declined 12 paise to settle at 86.52 against the US dollar on Friday, tracking negative domestic equity markets and surging global crude oil prices. On Thursday, the rupee saw some initial recovery but ended the session just 1 paisa higher at 86.40 against the US dollar. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said the rupee weakened due to a surge in crude oil prices and weakness in the domestic markets, which also fuelled the withdrawal of foreign institutional investors. He said the rupee is expected to trade with a slight negative bias amid uncertainty ahead of the August 1 trade deal deadline and geopolitical tensions between Thailand and Cambodia. 'Traders may take cues from the durable goods orders data from the US. Investors may remain cautious ahead of the US Federal Reserve and Bank of Japan's monetary policy decisions next week. USD-INR spot price is expected to trade in a range of Rs 86.30 to Rs 86.90,' Choudhary added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.33 per cent to 97.44. Analysts attributed the recovery in the dollar index to favourable employment data in the US. Brent crude, the global oil benchmark, went up by 0.42 per cent to USD 69.47 per barrel in futures trade, as developing trade agreements have supported the upward movement in Brent oil prices. Forex traders said the uncertainty over the India-US trade deal has been an overhang for the forex market. If the discussions fail or get delayed, Indian exporters could face fresh pressure — adding to the rupee's challenges. However, if a deal is reached, it could offer a much-needed breather. Until then, the uncertainty is likely to keep market participants cautious. Meanwhile, in the domestic equity market, Sensex crashed 721.08 points or 0.88 per cent to 81,463.09, while Nifty tanked 225.10 points or 0.90 per cent to 24,837. Foreign institutional investors (FIIs) offloaded equities worth Rs 1,979.96 crore on a net basis on Friday, according to exchange data. The latest RBI data released on Friday showed India's forex reserve declined by USD 1.183 billion to USD 695.489 billion during the week ended July 18. PTI HVA SHW 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
Currency watch: Rupee ends 12 paise lower at 86.52 as equities drop and crude rises; trade uncertainty, FIIs weigh
The rupee declined 12 paise to settle at 86.52 against the US dollar on Friday, dragged down by weak domestic equities, rising global crude oil prices, and sustained foreign fund outflows. The sharp slide in equity benchmarks and a stronger dollar overseas also pressured the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 86.59 and touched an intraday low of 86.63 before recovering slightly to end at 86.52. The currency had settled at 86.40 on Thursday, PTI reported. 'Rupee weakened due to a surge in crude oil prices and weakness in domestic markets, which also fuelled FII withdrawals,' said Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan. He noted that traders remained cautious ahead of the August 1 deadline for the US-India trade deal and geopolitical tensions between Thailand and Cambodia. Choudhary expects the rupee to trade with a mild negative bias in the near term, within a range of 86.30–86.90 per dollar, as investors track US durable goods orders data and upcoming monetary policy decisions from the Federal Reserve and Bank of Japan. The dollar index, which tracks the greenback's strength against six major currencies, rose 0.33% to 97.44, boosted by favourable US employment data. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas in Dubai | Search Ads Get Info Undo Brent crude futures gained 0.42% to $69.47 per barrel, lifted by improving sentiment around global trade negotiations. Analysts said uncertainty surrounding the India-US trade agreement continues to weigh on the forex market. 'If talks fail or face delays, Indian exporters could come under fresh pressure, worsening the rupee's outlook,' said one currency dealer. However, a breakthrough in negotiations could bring relief to the currency. On the equities front, the Sensex plunged 721.08 points or 0.88% to 81,463.09, while the Nifty dropped 225.10 points or 0.90% to close at 24,837. Foreign institutional investors offloaded shares worth Rs 1,979.96 crore on a net basis, according to exchange data. Meanwhile, the Reserve Bank of India's weekly data showed that India's foreign exchange reserves declined by $1.183 billion to $695.489 billion for the week ended July 18. 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
4 days ago
- Business
- The Hindu
Rupee weakens 12 paise to settle at 86.52 against U.S. dollar
The rupee declined 12 paise to settle at 86.52 (provisional) against the U.S. dollar on Friday (July 25, 2025), tracking negative domestic equity markets and surging global crude oil prices. A strengthening American currency overseas and foreign fund outflows further weighed on the local unit, forex traders said. At the interbank foreign exchange, the domestic unit opened at 86.59 and hit the lowest level of 86.63 against the greenback. The unit touched the intra-day peak of 86.47 before ending the session at 86.52 (provisional), registering a loss of 12 paise from its previous closing level. On Thursday (July 24, 2025), the rupee saw some initial recovery but ended the session just 1 paisa higher at 86.40 against the U.S. dollar. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said the rupee weakened due to a surge in crude oil prices and weakness in the domestic markets, which also fuelled the withdrawal of foreign institutional investors. He said the rupee is expected to trade with a slight negative bias amid uncertainty ahead of the August 1 trade deal deadline and geopolitical tensions between Thailand and Cambodia. "Traders may take cues from the durable goods orders data from the US. Investors may remain cautious ahead of the US Federal Reserve and Bank of Japan's monetary policy decisions next week. USD-INR spot price is expected to trade in a range of Rs 86.30 to Rs 86.90," Choudhary added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.33% to 97.44. Analysts attributed the recovery in the dollar index to favourable employment data in the U.S. Brent crude, the global oil benchmark, went up by 0.42% to $69.47 per barrel in futures trade, as developing trade agreements have supported the upward movement in Brent oil prices. Forex traders said the uncertainty over the India-US trade deal has been an overhang for the forex market. If the discussions fail or get delayed, Indian exporters could face fresh pressure — adding to the rupee's challenges. However, if a deal is reached, it could offer a much-needed breather. Until then, the uncertainty is likely to keep market participants cautious. Meanwhile, in the domestic equity market, Sensex crashed 721.08 points or 0.88% to 81,463.09, while Nifty tanked 225.10 points or 0.90% to 24,837. Foreign institutional investors (FIIs) offloaded equities worth ₹2,133.69 crore on a net basis on Thursday, according to exchange data.
News18
4 days ago
- Business
- News18
Rupee weakens 12 paise to settle at 86.52 against US dollar
Mumbai, Jul 25 (PTI) The rupee declined 12 paise to settle at 86.52 (provisional) against the US dollar on Friday, tracking negative domestic equity markets and surging global crude oil prices. A strengthening American currency overseas and foreign fund outflows further weighed on the local unit, forex traders said. At the interbank foreign exchange, the domestic unit opened at 86.59 and hit the lowest level of 86.63 against the greenback. The unit touched the intra-day peak of 86.47 before ending the session at 86.52 (provisional), registering a loss of 12 paise from its previous closing level. On Thursday, the rupee saw some initial recovery but ended the session just 1 paisa higher at 86.40 against the US dollar. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said the rupee weakened due to a surge in crude oil prices and weakness in the domestic markets, which also fuelled the withdrawal of foreign institutional investors. He said the rupee is expected to trade with a slight negative bias amid uncertainty ahead of the August 1 trade deal deadline and geopolitical tensions between Thailand and Cambodia. 'Traders may take cues from the durable goods orders data from the US. Investors may remain cautious ahead of the US Federal Reserve and Bank of Japan's monetary policy decisions next week. USD-INR spot price is expected to trade in a range of Rs 86.30 to Rs 86.90," Choudhary added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.33 per cent to 97.44. Analysts attributed the recovery in the dollar index to favourable employment data in the US. Brent crude, the global oil benchmark, went up by 0.42 per cent to USD 69.47 per barrel in futures trade, as developing trade agreements have supported the upward movement in Brent oil prices. Forex traders said the uncertainty over the India-US trade deal has been an overhang for the forex market. If the discussions fail or get delayed, Indian exporters could face fresh pressure — adding to the rupee's challenges. However, if a deal is reached, it could offer a much-needed breather. Until then, the uncertainty is likely to keep market participants cautious. Meanwhile, in the domestic equity market, Sensex crashed 721.08 points or 0.88 per cent to 81,463.09, while Nifty tanked 225.10 points or 0.90 per cent to 24,837. Foreign institutional investors (FIIs) offloaded equities worth Rs 2,133.69 crore on a net basis on Thursday, according to exchange data. PTI HVA BAL BAL view comments First Published: July 25, 2025, 16:00 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.
