Forex traders said the greenback weakened and crude oil prices eased following remarks by Trump that the U.S. would refrain from military action against Iran ahead of the November midterm elections
Forex traders said the greenback weakened and crude oil prices eased following remarks by Trump that the U.S. would refrain from military action against Iran ahead of the November midterm elections
The rupee gained as crude oil prices retreated and the U.S. Dollar index declined overnight, though weak domestic markets capped sharp gains
Forex traders said gains in the rupee were capped by U.S. dollar demand from local importers, high crude prices and a stronger greenback driven by hawkish Federal Reserve signals
Brent crude, the global oil benchmark, was trading lower by 1.14% at $99.20 per barrel in futures trade
At the interbank foreign exchange market, the rupee opened at 95.86 against the U.S. dollar, then gained some ground and touched 95.72 against the American currency in intraday trade.
At the interbank foreign exchange market, the rupee opened at 94.53 and touched an intra-day high of 94.46 and a low of 94.53 during the session.
Research analysts said the rupee is expected to trade with a positive bias on optimism over rising foreign inflows, a rise in risk appetite in global markets and softening of the U.S. Dollar
Forex traders said the RBI might have intervened to support the currency at lower levels after market participants raised the probability of a rate hike by the U.S. Federal Reserve in September
Forex traders said the overall weakness in the U.S. dollar on declining odds of a rate hike may support the rupee at lower levels
Forex traders said Brent crude is moving towards $90 per barrel amid risk aversion in global markets
Higher global crude oil prices and a stronger greenback capped sharper gains in the local unit, while elevated tensions in West Asia kept markets on edge said, forex traders
Elevated tensions in West Asia, which pushed up global oil prices, maintained pressure on the local unit said, forex traders
Forex traders said market sentiment was also buoyed after Saudi Arabia slashed August crude oil prices for Asia by $11 per barrel
The rupee finally closed at 95.21 (provisional), registering a rise of 14 paise from its previous close.
The rupee declined 13 paise to close at 94.76 against the U.S. dollar on June 23
Forex traders said the rupee opened on a positive note, on optimism that trade negotiations between India and the U.S. are set to gain momentum
The dollar index was trading at 99.57, higher by 0.03%
In the past three trading sessions, the USD/INR pair has gained 132 paise against the U.S. dollar
Forex traders said the rupee pared its initial losses and settled on a positive note as Brent crude oil prices and the U.S. dollar index retreated from their elevated levels
At the interbank foreign exchange market, the rupee opened at 95.77 against the U.S. dollar, then touched an intraday high of 94.97 and a low of 95.78 during the day
At the interbank foreign exchange market, the rupee opened at 95.77 against the U.S. dollar, then touched an intraday high of 94.97 and a low of 95.78 during the day
Moreover, positive domestic equities and a decline in U.S. treasury yields also supported the rupee
Forex traders said Brent oil prices have fallen below $100 per barrel on a rise in investor risk appetite in global markets on hopes of peace between the U.S. and Iran.
The Indian rupee has risen by two paise, closing at 94.49 against the US dollar, buoyed by positive foreign investments and an increased appetite for risk. However, the rising prices of crude oil and ongoing US-Iran tensions may hinder further appreciation. With this, the rupee has marked six sessions of consecutive gains, prompting traders to keep an eye on US non-farm payroll data for upcoming market trends.
Thursday marked the fifth consecutive day of appreciation for the Indian rupee, which increased by fourteen paise, closing at 94.59 against the US dollar. This positive shift was largely due to substantial inflows from foreign currency deposits, with a remarkable total of USD 127.23 billion raised through enhanced central bank programs. Meanwhile, the domestic equity markets faced a downturn during the session.
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