Rupee trades higher at 69.82 per dollar

Today, USD-INR pair is expected to quote in the range of 69.70 and 70.30-70.50, says Motilal Oswal.

The Indian rupee trading higher by 19 paise at 69.82 per dollar versus 70.01 Friday.

Rupee consolidated in a narrow range ahead of the important US GDP number and after global crude oil prices witnessed some retracement from higher levels. In the recent past, crude oil prices rallied but the expectation of increased supply output from OPEC capped major gains for the commodity, said Motilal Oswal.

On the domestic front, market participants will be keeping an eye on the fiscal number to gauge a view for the rupee. But major crosses will be taking cues from the FOMC policy statement that is scheduled tomorrow.

The expectation is that the central bank could main a status quo but what the stance will be going ahead for the Fed could trigger a move for the currency. Today, USD-INR pair is expected to quote in the range of 69.70 and 70.30-70.50, it added.

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Rupee opens higher at 70.09 per dollar

Today, USD-INR pair is expected to quote in the range of 70.05-69.80 and 70.60-70.80, says Motilal Oswal.

The Indian rupee gained in early trade on Friday. It opened higher by 16 paise at 70.09 per dollar versus previous close 70.25.

On April 25 the domestic currency ended 39 paise at 70.25 against the US currency on the back of rising crude oil prices in the international markets and sell-off in domestic equity markets.

Yesterday the rupee has registered a lowest close since March 6, while this is a biggest single session fall since April 8.

Yesterday the rupee came under pressure after the dollar against its major crosses rose to the highest level since June’17. On the other hand, global crude oil prices were weighed down on expectation that OPEC will soon raise output to make up for a decline in exports from Iran following a tightening of sanctions by the United States against Iran. For India, expectation is that the shortfall will be made from alternate supply sources available in Saudi Arabia, Kuwait, UAE and Mexico, said Motilal Oswal.

Today, USD-INR pair is expected to quote in the range of 70.05-69.80 and 70.60-70.80, it added.

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Rupee opens lower at 70 a dollar, may remain under pressure amid higher oil prices

In the near term the rupee might depreciate till 70.50 in the spot, according to Rushabh Maru of Anand Rathi.

The Indian rupee has opened marginally lower at 70 a dollar on April 25 amid higher crude oil prices in international markets.

The currency ended at 69.87 to the dollar on April 24, lower by 25 paise over previous close.

"The rupee may remain under pressure in the near term as the crude oil prices are rising continuously in the international market," Rushabh Maru, Research Analyst - Currency and Commodity at Anand Rathi Shares and Stock Brokers told Moneycontrol.

He said the dollar index is also rising and that is a sign of worry.

In the near term the rupee might depreciate till 70.50 in the spot, according to him.

Having said that sharp depreciation in the rupee is unlikely due to strong sentiments in the domestic equity market on expectations of NDA coming back to the power, he said.

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Rupee opens lower at 69.81 per dollar

Today, USD-INR pair is expected to quote in the range of 69.40 and 69.95, says Motilal Oswal.

The Indian rupee opened lower by 19 paise at 69.81 per dollar on Wednesday versus previous close 69.62.

Rupee consolidated in a range ahead of the important USD-INR swap auction conducted by RBI for the second in the last two months. The RBI again received overwhelming response and received bids worth USD 18.65 billion compared with its promise to take in USD 5 billion. With these two moves, the banking system will have cash injection of nearly Rs 60,000 crores, said Motilal Oswal.

While the overwhelming response is a surprise, the cut-off premium, the threshold for banks to receive any allotment, was pegged at 838 paise, up from 776 in the first auction higher than the equivalent market rate.

Today, USD-INR pair is expected to quote in the range of 69.40 and 69.95, it added.

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Rupee opens marginally higher at 69.62 per dollar

Utilize the upsides in the pair to initiate short positions, says ICICIdirect.

The Indian rupee opened marginally higher at 69.62  per dollar on Tuesday versus previous close 69.67.

On Monday the rupee ended 32 paise lower at 69.67 against the US dollar on the back of surge in crude oil prices.

The dollar-rupee April contract on the NSE was at 69.71 in the previous session. April contract open interest increased 7.23% in the previous session, said ICICIdirect.

We expect the USD-INR to meet supply pressure at higher levels. Utilise the upsides in the pair to initiate short positions, it added.

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Rupee extends losses, trades at 69.82 per dollar

Today, USD-INR pair is expected to quote in the range of 69.40 and 69.95, says Motilal Oswal.

The Indian rupee extended the morning losses as it trading lower by 46 paise at 69.82 per dollar versus 69.36 Thursday.

Rupee consolidated in a narrow range for the whole week following lack of domestic and global cues and despite strength in the dollar against its major crosses. On the domestic front, trade numbers released last week were slightly disappointing following rise in crude imports. Inflation number also failed to have any major impact on the currency, said Motilal Oswal.

RBI data showed India’s FX reserves continue to swell and the central bank added another USD 1.1 billion to touch USD 414.88 billion for the week ended April 12th.

Today, USD-INR pair is expected to quote in the range of 69.40 and 69.95, it added.

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Rupee trades higher at 69.46 per dollar

On Wednesday the currency markets were shut on account of Mahavir Jayanti, while it will remain shut on April 19 for Good Friday.

The Indian rupee is trading higher by 14 paise at 69.46 per dollar on Thursday versus Tuesday close of 69.60.

On Wednesday the currency markets were shut on account of Mahavir Jayanti, while it will remain shut on April 19 for Good Friday.

Rupee futures are expected to open higher around 69.55 against the dollar after robust economic data boosted the Chinese yuan to near nine-month highs. China's economy grew at a steady 6.4 percent pace in the first quarter, defying expectations for a further slowdown, as industrial production surged and consumer demand showed signs of improvement. Yuan climbed 0.4% yesterday after the country’s first-quarter economic growth beat forecasts and March industrial output rose by the most in four years and maintained its advance to near nine-month highs of 6.6890 to the dollar, said Motilal OSwal.

The US industrial production fell in March, slipping by 1% due to a drop in mining output. Factory output remained weak amid a slowing global economy and trade tensions with China. Investors are closely watching Chinese and European economic data for signals that global growth is recovering.

The release PMIs for the manufacturing and service sectors in Europe will provide the next indication of the strength of the European economy, it added.

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Rupee opens lower at 69.49 per dollar

Forex and equity markets will remain shut on Wednesday on account of "Mahavir Jayanti" while most of the major financial markets are closed on Friday for the start of the Easter holidays.

The Indian rupee opened lower by 7 paise at 69.49 per dollar on Tuesday versus 69.42 yesterday.

On Monday the rupee declined by 25 paise to close at 69.42 against the US dollar as forex traders turned cautious in a holiday-truncated week.

Forex traders said easing crude oil prices in the overseas market, sustained foreign fund inflows and heavy buying in the domestic equity market restricted the fall in the local unit.

Forex and equity markets will remain shut on Wednesday on account of "Mahavir Jayanti" while most of the major financial markets are closed on Friday for the start of the Easter holidays.


Rupee consolidated in a narrow range but came under pressure in the latter half of the session after IMD released first long-range forecast for the South-west monsoon rains yesterday. The rainfall in the four-month season from June to September is likely to be 96% of the 50-year average. According to the weather department, there is 39% probability of normal rainfall, 32% probability of below normal and 17% probability of deficient rains, said Motilal Oswal.

On the domestic front, India’s trade deficit narrowed in March to USD 10.89billion compared to USD 9.6billion in the previous month. Today, USD-INR pair is expected to quote in the range of 69.05 and 69.80, it added.

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Rupee trades lower at 69.26 per dollar

Today, USD-INR pair is expected to quote in the range of 69.05 and 69.80, says Motilal Oswal.

The Indian rupee erased morning gains and trading lower by 11 paise at 69.26 per dollar versus Friday's close 69.15.

Rupee continued to consolidate in a narrow range ahead of the important inflation and industrial production number that was released on Friday. Inflation in March rose to the highest level in five months following rise in food prices, said Motilal Oswal.

On the other hand core inflation rose at a slower pace of 4.97% in March compared to 5.36% in the previous month. Industrial production in February rose a mere 0.1% compared to growth of 1.7% in the previous month.

Slowing IIP growth adds to signs of weakness in the economy. This week, market participants will be keeping an eye on RBI meeting minutes to gauge a view for the currency. Today, USD-INR pair is expected to quote in the range of 69.05 and 69.80, it added.

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Rupee opens lower at 69.04 per dollar

Today, USD-INR pair is expected to quote in the range of 69.05 and 69.80, says Motilal Oswal.

The Indian rupee opened lower by 12 paise at 69.04 per dollar on Friday versus previous close 68.92.

On Thursday, the rupee ended at 68.92, gained 19 paise against the US dollar on the back of continued foreign fund inflows.

Rupee rose against the US dollar together with gains in the other Asian currencies; momentum for the local currency in the last couple of sessions has been positive following drop in global crude oil and as FIIs continued to pour funds in in Indian markets, said Motilal Oswal.

On the domestic front, inflation and industrial production number will be released. Expectation is that inflation could grow at a pace of 2.8% compared to 2.57% rise in the previous month. Industrial production also is expected to grow at a modest pace in February.

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Rupee opens 9 paise down at 69.21 against dollar

The local currency on Wednesday advanced 18 paise to close at 69.12 against the US dollar. 

The rupee on Thursday opened 9 paise down at 69.21 against the US dollar due to some buying in American currency by banks and importers. 

The local currency on Wednesday advanced 18 paise to close at 69.12 against the US dollar on strong foreign fund inflows amid the greenback's weakness against key rivals overseas.
In the domestic front, inflation and industrial production number will be released on Friday, but are likely to have minimal impact on the currency. Expectation is that inflation in March could inch higher compared to the previous month, which could keep the gains capped for the rupee. 

“Today, USDINR pair is expected to quote in the range of 69.05 and 69.80,” said Motilal Oswal Financial Services. 
Yesterday, euro was weighed down after the ECB mentioned that it does not expect to raise rates until the end of 2019 as the economy and inflation both are slowing. The ECB President confirmed that the central bank was considering if measures were needed to mitigate the impact on banks of its negative deposit rates as well as the pricing of new cheap two-year loans to banks. 

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Rupee opens flat at 69.28 per dollar

On Tuesday, the rupee ended 37 paise higher to close at 69.30 against the US dollar on sustained foreign fund inflows.

The Indian rupee opened flat at 69.28 per dollar on Wednesday versus previous close 69.29.

On Tuesday, the rupee ended 37 paise higher to close at 69.30 against the US dollar on sustained foreign fund inflows.

Rupee rose against the US dollar and snapped its four –day losing streak following suspected fund inflows in the debt segment. Market participants are cautious ahead of the important global events that are lined up today. On the domestic front too, inflation and industrial production number will be released later this week. Yesterday, IMF released its growth forecast report wherein it has trimmed growth figures for India as well as for other major nations. Today, USD-INR pair is expected to quote in the range of 69.40 and 70.20.

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Rupee trades flat at 69.64 per dollar

Today, USD-INR pair is expected to quote in the range of 69.40 and 70.20, says Motilal Oswal.

The Indian rupee erased some of its morning gains and trading flat at 69.64 per dollar versus previous close 69.67.

Yesterday, the rupee declined by 44 paise to close at 69.67 against the US dollar Monday amid higher dollar demand from importers and rising crude oil prices.

Rupee was weighed down against the US dollar for the fourth successive session as global crude oil prices started to rally and hit the highest level in four months. On the domestic front, FIIs flows have also slowed in the last one week thereby keeping the rupee under pressure. This week, on the domestic front, inflation and industrial production number will be released and weaker-than-expected economic number could extend losses for the currency. Today, USD-INR pair is expected to quote in the range of 69.40 and 70.20.

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Rupee falls 26 paise against US Dollar

Also, strong US job data and rising crude oil prices in overseas market added pressure to the domestic unit.

The Indian rupee slipped 26 paise at 69.49 against US Dollar on Monday. The currency opened lower due to increasing demand for the greenback from importers. Also, strong US jobs data and rising crude oil prices in the overseas market added pressure to the domestic unit.

The currency on Friday ended 6 paise lower at 69.23/$.

On the international front, the dollar strengthened against major currencies after data showed the US economy added 196,000 jobs in March compared to 33,000 jobs in the previous month.

Elsewhere, the pound steadied as British Prime Minister Theresa May appealed to both the public and politicians in search of support for a compromise departure plan. While May will meet EU leaders on Wednesday to make her case for a short extension to June 30, European Council President Donald Tusk is pushing for a delay of as long as a year to allow time to forge a new consensus.

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Rupee gains 12 paise at 69.05/$

 The currency opened marginally higher at 69.11 against the dollar compared to its previous close of 69.17/$.

The Indian rupee gained 12 paise on Friday to trade at day’s high level of 69.05 against the dollar.

The currency opened marginally higher at 69.11 against the dollar compared to its previous close of 69.17/$.

Firm global equity markets lent some support to the currency on the last trading day of this week. Equity benchmark indices in the US and Asia turned green amid positive updates on trade talks between the US and China, especially after China’s President Xi Jinping said substantial progress has been made in trade talks with Washington.

Equity benchmark indices in India were also trading in the green on Friday with the Sensex gaining 163 points at 38,848 levels. The Nifty also rose 54 points to trade at 11,652 levels, on its way to reclaiming the key level of 11,700.

On Thursday, the currency depreciated 76 paise as the Reserve Bank of India (RBI) seeded doubt regarding India’s economic growth concerns. Additionally, Fitch, a US-based credit rating agency, retained India's sovereign rating at 'BBB-', the lowest investment grade, with the stable outlook, media reports stated.

The agency in its report released on Thursday said that a weak fiscal position continues to constrain its rating. This is the 13th year in a row that global rating agency Fitch has rated India at 'BBB-'. It had last upgraded India's sovereign rating from 'BB ' to 'BBB-' with a stable outlook on August 1, 2006.

On the global front, increased crude oil prices also fueled the fire. The international crude oil benchmark, Brent oil touched its key level of $70 per barrels in the first time since November 2018.

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Rupee drops 45 paise to 68.86/$ ahead of RBI policy announcement

The domestic unit opened on a negative and depreciated 15 paise at 68.56 against the dollar.

The Indian rupee depreciated 45 paise against the dollar to trade at day’s low level of 68.86/$ on Thursday as investors are waiting for the stance of the Reserve Bank of India’s policymakers.

The domestic unit opened on a negative note and depreciated 15 paise at 68.56 against the dollar.

Notably, on Wednesday, the currency closed 34 paise higher at 68.41 against the dollar.

Currently, the currency market’s investors are waiting for the central bank to announce its two-day policy meet outcome at 11:45 AM, IST. Market participants are widely expecting the Monetary Policy Committee (MPC) of the central bank under governor Shaktikanta Das to cut the policy rates by 25 basis points. However, it is the stance of the policymakers which will drive the currency market today.

Meanwhile, equity benchmark indices were trading on a mixed note in tandem with its Asian peers. The Sensex was trading 34 points down to 38,842 levels and the Nifty also declined 8 points to 11,636 levels.  

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Rupee climbs 13 paise against dollar in early trade

The local currency was trading at 68.61 against the US at around 9.25 am (IST) against the previous close of 68.74 against dollar. 

The rupee was trading 13 paise higher in the early trade on Wednesday following sustained inflows by foreign institutional investors amid robust domestic equity market. 

The local currency was trading at 68.61 against the US at around 9.25 am (IST) against the previous close of 68.74 against dollar. 

“Rupee rose against the US dollar primarily as foreign fund inflow continued in April after huge inflows in the previous month,” brokerage firm Motilal Oswal Financial Services said.

Last month, the FIIs added $6.6billion in the equity and debt segment and yesterday in a day added another $2.1billion. The equity segment added $1.3billion and debt segment added $723million. 

Consistent inflows suggest that FIIs remain bullish on the Indian growth story. Momentum of flows in the recent past has been positive also as market participants are expecting that the RBI could consider cutting rates on April 4. 

“The central bank is expected to remain dovish and that could restrict major appreciation for the currency. Today, USDINR pair is expected to open at 69.15(Apr) and quote in the range of 68.80 and 69.40,” Motilal Oswal said. 

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Rupee off day's low, trades at 69.22 per dollar

Today, USD-INR pair is expected to quote in the range of 69.20 and 69.80, says Motilal Oswal.

 The Indian rupee erased some of its morning losses but trading lower by 7 paise at 69.22 per dollar versus Friday's close 69.15.

Rupee is expected to open on a flat note and could to trade with a positive bias after the RBI announced to conduct USD 5 billion dollar-rupee swap auction on 23rd April following the success of the first round last month, said Motilal Oswal.

The swap auction comes ahead of the important RBI policy statement that is scheduled this week. The central bank is expected to cut rates and a dovish statement could put pressure on the rupee.


While the swap will bulk up India’s foreign-exchange reserves, there’s concern that using the forex swap may reduce the need for the RBI to buy debt from the market.

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