Rupee gains ~20 paise at ~69.49/$

On Tuesday, the domestic unit had appreciated 21 paise to close at 69.70/$.

The Indian rupee extended its gain for the second consecutive trading session on Wednesday and rose ~20 paise to trade at day’s high level of `69.49 against the dollar. The currency has opened 13 paise higher at `69.57/$.

At 10:35, AM, IST, the currency was trading 5 paise higher at 69.64/$. On Tuesday, the domestic unit had appreciated 21 paise to close at 69.70/$.

The appreciation in the currency could be attributed to the rally in the domestic equity market. Equity benchmark indices opened higher for the second consecutive session on Wednesday on the back of positive trades in global markets over hopes of dovish stance from the US Federal Reserve.

The global equity markets turned positive after European Central Bank's President Mario Draghi said that the ECB will ease policy again if inflation fails to accelerate, also US President Donald Trump would meet China's president to talk about trade boost today.

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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 appreciates 18 paise to 68.92/$

The currency has gained past 69 level against the US dollar for the first time since August 10, 2018 in the early trade on Monday.

The Indian rupee rose for the sixth consecutive day, and opened at 68.92/$, up 18 paise against the US dollar. The sharp rally in the Indian rupee could be attributed to robust foreign inflows ahead of general elections.

The currency has gained past 69 levels against the US dollar for the first time since August 10, 2018, in the early trade on Monday.

Meanwhile, India’s trade deficit in February narrowed to $9.59bn in February from $14.73bn in January amid sluggish growth in major foreign exchange earners such as gems and jewellery, engineering goods, and petrochemicals, the government data showed.

The local currency ended by 24 paise up at 69.10 against the greenback on Friday.

The Reserve Bank of India’s (RBI) reference rate for the dollar stood at Rs69.21, while for the Euro, it was at Rs78.33. The RBI’s reference rate for the Yen stood at Rs61.99; the reference rate for Great Britain Pound (GBP) was Rs91.64.

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Rupee breaches 71/$-mark; trades at 70.97

The unit appreciated 13 paise to close at 71.18/$ on Monday.

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The Indian rupee breached its crucial level of 71/$ and depreciated 21 paise to trade at 70.97/$.

The Indian rupee appreciated 17 paise against the dollar in Tuesday’s morning session at 71.01 against the dollar. The domestic units opened 3 paise lower at 71.21/$ compared to its previous close of 71.18/$.

At 9:55 AM, IST, the currency was trading at 71.04/$. The unit appreciated 13 paise to close at 71.18/$ on Monday.

The appreciation was on the back of easing crude oil in global markets and a marginal weakness in the dollar against its major peers.

Besides, investors’ optimism ahead of index of industrial production (IIP) numbers for December and retail inflation for January also kept the domestic unit elevated.

Meanwhile, equity benchmark indices were trading marginally down on Tuesday with the Sensex declining 57 points at 36,338 levels. Nifty also declined 21 points at 10,860 levels.

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रुपये में मामूली कमजोरी, 1 पैसे टूटकर 70.48 पर खुला

Today, USD-INR pair is expected to quote in the range of 70.30 and 71.05, says Motilal Oswal.

The Indian rupee slipped further as it is trading near the day's low at 70.80, down 31 paise against Friday's close 70.49.

Rupee continued to consolidate in a narrow range ahead of the important industrial production number that was released on Friday. Data showed IIP rose at a slower pace in November at 0.5% compared to growth of 8.1% in the previous month, said Motilal Oswal.

On the domestic front, market participants will be keeping an eye on the inflation number that will be released today. Expectation is that price rise could be slower in December compared to the previous month thereby keeping the rupee supported on lower levels. Today, USD-INR pair is expected to quote in the range of 70.30 and 71.05, it added.

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Rupee back at 70-mark; trades at 70.06/$

The domestic unit depreciated 41 paise to 70.09 against the dollar in intraday trade.

The Indian Rupee reclaimed its key level of 70 against the dollar on Tuesday. The currency depreciated 15 paise to open at 69.83/$ compared to its previous close of 69.68.

The domestic unit depreciated 41 paise to 70.09 against the dollar in intraday trade on Tuesday. At 9:40 AM IST, the currency was trading at 70.06/$.

The fall could be attributed to increasing crude oil prices in the global market.

Crude oil extended its six-day winning strike, with the international benchmark for oil prices, Brent gaining 0.2% at $57.47/barrels and West Texas Intermediate (WTI) crude rose 0.3% to $48.67/barrels.

The gain in oil prices was on the back of optimism regarding a halt in the trade war between the United States and China. Further, falling crude oil supply from OPEC also kept oil prices elevated. As per media reports, OPEC oil supply fell in December by 460,000 barrels per day (bpd) to 32.68mn bpd.

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Rupee Rises By 33 Paise To 69.39 Against Dollar

Forex dealers said, selling of the American currency by exporters supported 

the rupee.

Rupee Vs Dollar: On Friday, the rupee had ended higher by 48 paise at 69.72 against dollar.

The rupee appreciated by 33 paise to 69.39 against the US dollar in opening trade Monday, driven by strong gains in domestic equities and weakening of the greenback in overseas markets. The rupee opened strong at 69.38 at the interbank forex market against previous close of 69.72 per dollar amid sustained foreign fund inflows and positive opening in domestic equities.The rupee moved in range of 69.46 per dollar to 69.34 per dollar in early trade and was trading at 69.39, displaying strong gains of 33 paise against the greenback.    

Forex dealers said, selling of the American currency by exporters supported the rupee. On Friday, the rupee had ended higher by 48 paise at 69.72 against the dollar in line with smart gains in domestic equities and uptrend in other emerging market currencies.

Foreign funds pulled out Rs. 157.72 crore from the capital markets on a net basis, while domestic institutional investors purchased shares worth Rs. 240.60 crore Friday, provisional data showed.    

The benchmark BSE Sensex rose by 287.74 points, or 0.81 per cent to quote at 35,982.84, while the NSE Nifty climbed 84.90 points, or 0.79 per cent, to 10,812.25. Meanwhile, brent crude, the global benchmark, was trading lower at 57.74 per barrel, higher by 1.19 percent. 

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Rupee Rises By 34 Paise To 69.86 Against Dollar

Rupee Vs Dollar:The equity market staged a recovery and propped up the rupee, traders said.

On Thursday, rupee fell 2 paise to 70.20 against the dollar.

The rupee appreciated 34 paise to 69.86 against the US dollar in opening trade Friday amid weakening American currency and positive opening of the domestic equity market. Forex traders said, the American currency lost some ground against major currencies overseas, while on the domestic front, the equity market staged a recovery and propped up the rupee.    

At the Interbank Foreign Exchange (forex) market, the rupee opened higher at 69.95 and rose further to touch a high of 69.86 a dollar, showing a rise of 34 paise over it's previous close. On Thursday, the rupee weakened for the second straight session and fell 2 paise to 70.20 against the dollar.  

Traders however said that significant foreign fund outflows and rising crude oil prices weighed on the domestic currency and capped the upmove. Foreign funds pulled out Rs.972.81 crore from the capital markets on a net basis, while domestic institutional investors purchased shares worth Rs. 34.52 crore Thursday, provisional data showed.    

The global benchmark Brent crude was trading higher by 0.13 per cent at 56.02 per barrel. Meanwhile, the BSE benchmark Sensex Friday rebounded nearly 200 points and the NSE Nifty reclaimed the 10,700 mark, driven by recovery in auto, metal and banking stocks amid buying by domestic institutional investors. 

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Rupee extends fall; depreciates 13 paise

On Wednesday, the currency slipped 75 paise to 70.18 against the dollar, its first loss in the past four trading sessions.

The Indian rupee has extended its fall for the second straight trading session on Thursday and depreciated 13 paise to open at 70.30 against the dollar.

On Wednesday, the currency slipped 75 paise to 70.18 against the dollar, its first loss in the past four trading sessions.

The fall is on the back of a strong greenback against its major peers and marginal recovery in global equity markets. Additionally, the gain in global crude oil prices is also putting pressure on the domestic currency.

Brent crude prices rose ~2% on Wednesday amid expectation of tight supply from Saudi Arabia. As per media reports, Saudi’s oil exports in December dropped half a million barrels per day to 7.253mn barrels per day.

Meanwhile, investors will be focusing on Reserve Bank of India's Governor Shaktikanta Das'  meeting with representatives of MSMEs and non-banking financial companies (NBFCs) next week. 

Further, equity benchmark indices opened lower on Thursday amid mixed trends in Asian markets. Realty, FMCG, IT, and PSU Banks were trading higher, while Metal, Media, and Bank Nifty were in the negative zone.

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