Indian Rupee

Ukraine crisis: Options for India to circumvent sanctions against Russia

Indian businesses that trade with Russia have suggested reactivation of the rupee-rouble trade mechanism to ensure that supplies are not hit by Western countries' move to block Russian banks from the SWIFT payments network. So what is the Rupee Ruble trade mechanism, and how can India use it to circumvent sanctions on Russia? Watch this video.Ukraine crisis: Options for India to circumvent sanctions against Russia

Rupee gains 20 paise to close at 76.42 against US dollar

On Wednesday, the rupee had appreciated 38 paise to close at 76.62 against the US dollar following a retreat in crude oil prices and rebound in domestic equities.

Rupee fall to help exports rise by up to 10%

The rupee has shed almost 3.5% against the US dollar this year and 3.2% since Russia's military operations in Ukraine on February 24. It fell to a record 77 against the dollar on Tuesday. Oil prices have soared to the highest, about $139 per barrel, since 2008 amid the Russia-Ukraine conflict.

Rupee inches 3 paise higher to 76.90 against US dollar

On Monday, the rupee fell for the fourth straight session and tanked 76 paise to close at 76.93, after touching its lifetime low of 77 against the US dollar, as crude oil prices climbed to multi-year highs amid the Russia-Ukraine crisis.

Rupee rises 20 paise to 76.73 against US dollar in early trade

At the interbank foreign exchange, the rupee opened on a weak note at 77.02 against the US dollar, then pared its initial losses and touched 76.73, registering a gain of 20 paise from the previous close.

Oil surge brings back twin deficit spectre; experts chart rupee’s course, RBI response

The Indian currency hit a record low of 77.0280 per dollar on Monday as against 76.1600/$1 at previous close.

Rupee, bonds crack as crude prices surge to 14-year high

The partially convertible rupee opened at 76.6500 per US dollar as against 76.1600 per dollar at the previous close. So far in the day, the rupee moved in a band of 76.6600-76.6800/$1.

Rupee sinks 47 paise vs dollar as crude prices spike sharply

“In coming days, we will likely test the 76/$1 mark as oil prices will only go up further as tensions escalate. But we don’t see a huge degree of speculation against the rupee. It will undoubtedly depreciate but it may fare better than other EM currencies because of the huge RBI FX reserves and flows for LIC IPO,” a dealer said.

With crude oil prices at $100, where is rupee headed?

The rupee, which has weakened by around 1.2 per cent versus the US dollar so far in the calendar year, slumped past the psychologically significant 75/$1 mark.

Rupee opens 25 paise higher vs dollar despite rise in oil prices; here's why

The partially convertible rupee opened at 75.40 per US dollar as against 75.65 per dollar at the previous close. So far in the day, the Indian currency moved in a band of 75.2780-75.4220 against the greenback.

Bloodbath in forex market as rupee tumbles over 100 paise vs dollar

The partially convertible rupee was at 75.65/$1 at 3:30 pm on Thursday as against 74.55/$1 at the previous close. The Indian currency, which had opened at 74.65/$1, moved in a band of 74.6860-75.6500/$1 in the course of the day.

Rupee tanks 53 paise to 75.07 per dollar as Ukraine crisis worsens

The partially convertible rupee was last at 75.0730/$1 as against the previous close of 74.55/$1 at the previous close. The Indian currency, which opened at 74.6640/$1, moved in a band of 74.6860-75.0703/$1 so far in the day.

Rupee rallies 25 paise to 74.59 against US dollar

The rupee was quoted at 74.59 at 1530 hrs, registering a gain of 25 paise over its previous close. On Tuesday, the rupee depreciated by 29 paise to close at 74.84 against the US currency.

Rupee opens 25 paise higher vs dollar as Tuesday's selloff seen overdone

Government bonds were steady, with the yield on the 10-year benchmark 6.54 per cent 2032 paper unchanged from the previous close at 6.75 per cent.

As Ukraine tensions reach boiling point, rupee, bonds slump

Hardening crude oil prices pose a major upside risk to India’s inflation and exert pressure on the trade deficit, given that the country is a massive importer of the commodity.

Rupee plunges vs dollar as growing Russia-Ukraine tensions send oil soaring

The partially convertible rupee opened at 74.6820 per US dollar as against 74.5050 per US dollar at the previous close. So far in the day, the rupee moved in a band of 74.7120-74.8100 against the greenback.

Rupee opens on a strong note as dollar index weakens; US-Russia meet on Ukraine in focus

The rupee’s gains, however, were firmly capped by a sharp rise in international crude oil prices in early trade Monday.

Rupee rallies 39 paise to 74.67 against US dollar

The rupee was quoted at 74.67 at 1530 hrs, registering a rise of 39 paise over its previous close 75.06. The rupee had closed the session on Thursday at 75.11 (provisionally) but later settled at 75.06.

Rupee slips 7 paise to close at 75.11 against US dollar

Spot USDINR expected to find support in the range of 74.90 to 75, while 75.70 remains the biggest hurdle, Parmar added.

Rupee opens 10 paise higher at 74.96 vs US dollar

The partially convertible rupee opened at 74.9680 per US dollar as against 75.0725/$1 at previous close. So far in the day, the Indian currency moved in a band of 74.9750-74.9980/$1.

Investors turn long on Indian rupee after 4 months

Barclays added that it does not see tighter Fed policy, led by U.S. growth outperformance, driving sustained dollar strength, and remains long on the rupee. The rupee has appreciated close to 3% since mid-December.

Rupee surges 18 paise to close at 74.70 against US dollar

At the interbank forex market, the local unit opened strong at 74.71 against the greenback and witnessed an intra-day high of 74.68 and a low of 74.77. It finally settled at 74.70, a rise of 18 paise over its previous close.

Rupee pares initial gains to settle flat at 74.83 against US dollar

At the interbank foreign exchange, the rupee opened at 74.76 against the American dollar, and later witnessed an intra-day high of 74.71 and a low of 75.02 against the greenback.

Rupee slips 17 paise to close at 74.82 against US dollar

At the interbank foreign exchange, the rupee opened at 74.53 against the American dollar, witnessed an intra-day high of 74.41 and a low of 74.87 against the greenback.

Rupee gains 15 paise to 74.92 against US dollar in early trade

At the interbank foreign exchange, the rupee opened at 74.97 against the American dollar, then inched higher to quote 74.92, registering a rise of 15 paise from the last close.

Rupee gains 12 paise to close at 74.30 against US dollar

Positive moves in Indian equity indices and stronger Asian currencies aided sentiments, forex traders said, adding that Omicron worries and firm crude oil prices restricted the appreciation bias of the local unit to some extent.

Rupee slumps 30 paise to 75.08 against US dollar

At the interbank foreign exchange market, the local currency opened at 75.18 against the greenback and witnessed an intra-day high of 75.07 and a low of 75.31 during the session.

Rupee slides to 1-month low against dollar on forex outflows

At the interbank foreign exchange market, the local currency opened at 74.60 against the greenback and witnessed an intra-day high of 74.57 and a low of 74.80 during the session.

Rupee to slip on expensive crude oil, FII funds' outflow

"Rising crude and trade deficit has been keeping the currency under pressure and even FPI outflows have been a constant pressure on the rupee...," said Sajal Gupta, Head, Forex and Rates at Edelweiss Securities.

Does a cold winter await the Indian rupee?

Historically, the rupee has either drifted down every year against the dollar (USD) or when it remains range-bound for a few years, the move can be very quick and precipitous.

Rupee rises 8 paise to close at 74.43 against US dollar

At the interbank foreign exchange market, the rupee opened at 74.50 a dollar and during the day, it witnessed an intra-day high of 74.40 and a low of 74.55 against the American currency.

Rupee slips 7 paise to close at 74.51 against US dollar

At the interbank foreign exchange market, the local currency opened at 74.43 against the greenback and witnessed an intra-day high of 74.29 and a low of 74.53 during the session.

Rupee slumps 25 paise to close at 74.15 against US dollar

At the interbank foreign exchange market, the local currency witnessed an intra-day high of 74.05 and a low of 74.21 against the US dollar.

Rupee surrenders gains, ends steady vs dollar on likely RBI intervention; high crude weighs

The partially convertible rupee settled at 73.92/$1 as against 73.91/$1 at the previous close. The Indian currency, which opened at 73.7560/$1, moved in a band of 73.76-74.06/$1 in during the day.

Rupee ends almost flat at 73.93 against US dollar

At the interbank forex market, the local unit witnessed an intra-day high of 73.78 and a low of 74.04 against the US dollar. It finally settled at 73.93, a rise of just 1 paisa over its previous close.

Rupee rises 15 paise as dollar index weakens sharply

The partially convertible rupee opened at 73.78 against the US dollar on Wednesday as against 73.9050 at previous close. So far in the day, the Indian currency moved in a band of 73.76-73.80 versus the greenback.

Bearish bets on India's rupee at highest in 20 months: Poll

Short positions on the Indian rupee were raised to their highest since April 2020, while bearish bets on the Singapore dollar, Indonesia's rupiah and the Malaysian ringgit also increased, a fortnightly poll of 10 respondents showed.

Rupee ends at highest level vs dollar since Sep on FX flows

The partially convertible rupee settled at 73.91/$1 as against the previous close of 74.03/$1. The Indian currency moved in a band of 73.81-74.27/$1 in the course of the day.

Rupee gains 31 paise to close at 74.03 against US dollar

At the interbank forex market, the local unit opened strong at 74.15 against the greenback and witnessed an intra-day high of 74.03 and a low of 74.21. It finally settled at 74.03, a rise of 31 paise over its previous close.

Rupee slides vs dollar as Fed minutes hint at quicker rate hikes; US jobs data eyed

The partially convertible rupee settled at 74.49/$1 as against 74.36/$1 at the previous close. The Indian currency, which had started the day at 74.4450/$1, moved in a band of 74.3200-74.5075/$1 during the day.

Rupee gains as dollar index weakens; investors eye Fed minutes, US jobs data

The partially convertible rupee settled at 74.35/$1 as against 74.55/$1 at the previous close. The Indian currency, which had opened at 74.5450/$1, travelled in a band of 74.30-74.55/$1 during the course of the day.

Rupee skids as surge in US yields boosts dollar index; all eyes on OPEC meet

The partially convertible rupee settled at 74.5500/$1 on Tuesday as against 74.2600/$1 at the previous close. The Indian currency, which started off the day at 74.5000/$1, moved in a range of 74.4650-74.6075/$1 in the course of the day.

Rupee gains for 6th straight day; strengthens past 75/$1 on exporter activity, firm shares

The partially convertible rupee strengthened past the psychologically significant 75/$1 mark, settling at 74.9950/$1 as against 75.02/$1 at the previous close.

Rupee could depreciate up to 3% in 2022: Fitch

Any depreciation will be gradual given strong economic fundamentals.

Rupee blazes on vs greenback; strengthens for 4th straight day on global weakness in USD

The partially convertible rupee settled at 75.2350 per US dollar as against 75.55/$1 at the previous close. The Indian currency, which opened at 75.4600 per US dollar, travelled in a band of 75.2200-75.4600/$1 in the course of the day.

Rupee gains for 3rd straight day, rises 5 paise vs US dollar

The partially convertible rupee settled at 75.5500/$1 on Wednesday as against 75.60/$1 at the previous close. The Indian currency, which had opened at 75.5400/$1, moved in a band of 75.4675-75.6525/$1 in the course of the day.

Rupee gains 9 paise vs dollar in early trade on hopes of corporate inflows

The partially convertible rupee opened at 75.54 per US dollar on Wednesday as against 75.60 at the previous close. So far in the day, the Indian currency moved in a band of 75.5050-75.5725 against the greenback.

Rupee bulls shine on corporate inflows; RBI likely displaying FX reserve firepower

The partially convertible rupee added 31 paise to settle at 75.60/$1 as against 75.9050/$1 at the previous close. The local unit, which had opened at 75.72/$1, moved in a band of 75.4075-75.7400/$1 during the day.

Rupee gains 18 paise vs dollar on FX inflow anticipation

The domestic currency had taken a heavy beating in the first three weeks of December as central banks in advanced economies, including the US Federal Reserve and the Bank of England announced reversals of ultra-loose monetary policies adopted to tackle the economic impact of the COVID-19 crisis.

RBI rushes in to cut the Rupee's sudden drop, likely sold $5 bn

The Indian Rupee rebounded from an 18-month low last week after the central bank sold dollars in the spot and futures market. The local unit Monday extended its three-day gaining streak.

Rupee stages smart rebound, settles above 76 per dollar

The partially convertible rupee settled at 75.9050 per US dollar as against 76.0850 at previous close. The Indian currency, which had opened at 76.1400 per dollar, travelled in a band of 75.8300-76.1575 against the greenback in the course of the day.

Why rupee's fall to 20-month low should not worry you

There has been a bit of weakness in the fundamentals which is pointing to why the rupee should depreciate but I think the depreciation has come on the back of the dollar index moving higher

Market Movers: Rupee’s sorry winter is bringing cheers to IT stocks

For IT sector companies, the depreciation in the rupee could not have come at a better time. The talent war in the industry that has crimped the margins of the companies in the past few quarters may now be offset to a large extent by the sharp depreciation in the currency.

Rupee recovers, ends stronger vs US dollar as RBI flexes FX reserves muscle amid hawkish Fed policy

The partially convertible rupee closed at 76.0850 per US dollar as against the previous close of 76.2300/$1. The Indian currency, which had started off the day’s trade at 76.28/$1 travelled in a range of 76.0575-76.3125/$1 in the course of the day.

Fears of a hawkish Fed push rupee below 76

Concerns over a hawkish policy stance by America’s central bank led to the sharp fall of the local currency, which closed the previous day at 75.87 a dollar.

Rupee skids past 76 per dollar mark on relentless FII outflows, fear of hawkish Fed

With the greenback remaining firm at over-one-week high, traders rushed to square off existing bets on the Indian currency, especially as the US Federal Reserve is widely expected to signal a shift to a tighter monetary policy at the end of its two-day meet Wednesday.

RBI may let rupee slide further;‘76.30/50 levels likely by end Dec’

The local currency is likely to touch the 76.30/50-level by the end of December if the US Federal Reserve accelerates the unwinding of bond purchases, analysts said. The likely widening of the negative interest rate would add further pressure on the currency.

Rupee gains ground, opens 13 paise higher vs dollar as equities hold firm

The partially convertible rupee opened at 75.6350 per US dollar on Monday as against 75.7650 on Friday, which was the lowest closing level in more than 18 months. So far in the day, the domestic currency moved in a range of 75.6350-75.6750 to a dollar.

Rupee declines by 7 paise to 74.71 against US dollar; extends losses for 3rd day

At the interbank foreign exchange market, the rupee opened weak at 74.75 per dollar. It hovered in a range of 74.84 to 74.65 during the session before ending at 74.71 against the greenback.

Rupee weakens on Moderna’s pessimistic view on Omicron

The partially convertible rupee settled at 75.1640 per US dollar as against 75.10 at the previous close. The Indian currency which had opened marginally stronger versus the greenback at 75.03 moved in a band of 74.85-75.20 per USD in the course of the day’s trade.

Rupee plunges vs US dollar as fresh Covid variant dampens global growth prospects, prompts rush to safe-havens

The partially convertible rupee settled at 74.8700 per US dollar as against 74.5100/$1 at the previous close. The Indian currency, which had opened at 74.5800/$1 on Friday, moved in a band of 74.5700-74.9200 per dollar during the day.

Rupee slips vs US dollar as Fed minutes show fresh calls for faster taper, higher interest rates

The partially convertible Indian currency settled at 74.5100 per US dollar as against 74.3950/$1 on Wednesday. The rupee, which had started the day at 74.5450 /$1, moved in a band of 74.4700-74.5775/$1 in the course of the day.

Rupee recoups most losses vs US dollar as equities bounce back smartly; gilts steady

The partially convertible rupee ended at 74.4225 to a dollar as against 74.4050/$1 at the previous close. The local currency, which had opened at 74.4800 per dollar, moved in a band of 74.3775-74.5700 per dollar in the course of the day’s trade.

Rupee takes hit vs US dollar as Fed official calls for faster bond taper; gilts end steady

The partially convertible currency settled at 74.3950 per US dollar on Monday versus 74.2350/$1 on Thursday. The domestic currency market was shut on Friday for Guru Nanak Jayanti.

Rupee rises 10 paise to end at 74.27 against US dollar; gilts steady

The local unit settled at 74.27 per US dollar as against 74.3725 per dollar at close on Tuesday. In the course of the day’s trade, the Indian currency moved in a band of 74.2425-74.50 per dollar. It had opened at 74.50 versus the greenback.

Rupee slips 3 paise to close at 74.48 against US dollar

At the interbank forex market, the local unit opened at 74.38 against the greenback and witnessed an intra-day high of 74.31 and a low of 74.49.

Rupee rises 16 paise to 74.36 against US dollar in early trade

The Indian rupee opened stronger this Friday tracking the recovery in Asian equities and currencies. However, a strengthening dollar could cap appreciation, Reliance Securities said in a research note.

Rupee strengthens vs dollar on IPO flows; gains capped before US FOMC statement

The domestic currency on Wednesday opened at 74.60 against the US dollar as against 74.6775 at the previous close. The local unit, which was last at 74.5550 versus the greenback, moved in the range of 74.5375-74.6425 so far in the day.

Rupee slips 16 paise to 75.04 against US dollar in early trade

"Dollar-Rupee opened at 75.00 levels and is expected to stay in the range of 74.70 to 75.20 for the day with flows from IPOs continuing to hit the market and outflows from oil companies absorbing the inflows," said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors.

Rupee recovers 12 paise to end at 74.96 against US dollar

At the interbank forex market, the local unit opened at 75.05 against the greenback and witnessed an intra-day high of 74.95 and a low of 75.17 during the day trade. It finally ended at 74.96 against the American currency.

Rupee gains 5 paise vs US dollar after sharp drop on Monday

On Monday, the rupee shed 19 paise as elevated crude oil prices prompted public sector banks to purchase the greenback on behalf of oil marketing entities, dealers said.

Rupee inches 6 paise higher to 73.46 against US dollar

Forex traders said the broad weakness of the American currency in the overseas market and sustained foreign fund inflows supported the local unit, while firm crude oil prices restricted the gains.

Rupee settles 18 paise lower at 75.08 against US dollar

At the interbank forex market, the local unit opened on a weak note at 74.98 and witnessed an intra-day high of 74.97 and a low of 75.10 against the American currency during day trade.

Rupee slips 14 paise to 75.04 against US dollar in early trade

At the interbank foreign exchange, the rupee opened on a weak note at 74.98, then fell further to 75.04, registering a decline of 14 paise from the last close.

Rupee falls ahead of key US data; lack of OMO disappoints gilts; MPC minutes eyed

The rupee on Friday settled at 74.89/$1 as against 74.8600 per US dollar on Thursday. The partially convertible rupee had started the day at 74.81/$1 and then moved in a range of 74.69/$1 to 74.94/$1.

Rupee ends steady after surge; gilts gain on hope of RBI support

Dealers said that trade volumes were on the lower side after a recent bout of volatility and as market players were not keen to take large bets ahead of key events lined up over the near term including the US Federal Reserve’s next monetary policy statement on November 3.

Rupee surges 0.6% vs USD as exporters rush to sell greenback; gilts gain on value-buying

The rupee settled at 74.8700 per US dollar on Wednesday, 0.6 per cent stronger than 75.3400/$1 at close on Monday. The currency and bond markets were shut on Tuesday for Eid-e-Milad.

Rupee faces fresh hurdles as oil continues to head north

By the end of the day’s trade, the rupee weakened, settling at 75.3400, as the hardening of oil prices soured the mood among investors, given that India is a huge importer of the commodity.

Answering the million dollar question for exporters: To hedge or not to hedge?

For the coming week, the rupee would closely track the Dollar Index and crude oil prices which are trading at crucial levels of 94.00 and 85.00, respectively.

Rupee gains versus US dollar as global oil prices retreat from multi-year highs

The rupee, which has shed close to 1.5 per cent against the US dollar so far this month, gained also because as a sharp drop in India’s Consumer Price Index Inflation improved the outlook on the Real Effective Exchange Rate, dealers said.

Will RBI intervene to arrest overvalued Rupee's slide?

A slide of 3.3 percent versus the US dollar since the beginning of December has raised fears of a quicker depreciation and an intervention by the central bank, but in the interests of remaining competitive in global markets, the currency may be allowed to depreciate, believe economists.

Rupee, gilts gain as steep fall in inflation stokes optimism

The rupee on Wednesday closed at 75.3650 per US dollar against 75.5060 on Tuesday. With some foreign banks stepping in to sell the dollar on behalf of exporters, the rupee touched a high of 75.1900 per dollar on Wednesday.

Rupee takes fresh beating on oil price worries; market looks to RBI

The domestic currency on Tuesday settled at 75.5060 to the US dollar against 75.3550 on Monday.

NSE launches weekly USD-INR futures contracts

The first day witnessed participation from 122 trading members, with volumes of 1.43 lakh contracts worth Rs 1,079.6 crore traded at the end of the day in the weekly futures contracts of USD-INR.

Rupee slumps to 15-month low as crude oil prices mark fresh high

The rupee on Monday closed at 75.3550 per US dollar as against 74.9850 to a dollar at previous close.

Red flag for the unstoppable bulls comes from rupee now

In the midst of all the positive factors that favour the defiant bulls, a bigger challenge for them may be emerging from the dollar bulls as the rupee is slowly weakening and staring at a breakdown point.

Rupee slumps 20 paise to close at 74.99 against US dollar

At the interbank foreign exchange market, the local currency opened at 75 and witnessed an intra-day high of 74.91 and a low of 75.16 against the US dollar in day trade.

Rupee gains vs dollar as oil prices drop, gilts steady

The domestic currency on Thursday settled at 74.7750 per US dollar, stronger than 74.9750 to a dollar on Wednesday.

Rupee takes heavy beating, heads towards 75/$

The domestic currency on Wednesday edged closer to 75.00 a US dollar mark, settling at 74.9750 against Tuesday's close of 74.4450.

Rupee slips 13 paise to close at 74.44 against US dollar

At the interbank foreign exchange market, the local currency opened on a weak note and witnessed an intra-day high of 74.41 and a low of 74.63 against the US dollar in day trade.

Rupee falls ahead of US jobs data, RBI MPC meet; gilts steady

The rupee on Monday, settled at 74.3100 per US dollar as against 74.1150 to a US dollar on Friday.

Rupee recovers end stronger as exporters sell dollars; gilts fall

The Indian currency had opened the day at 74.3150 per dollar and then went on to weaken further to a day’s low of 74.3150, as investors remained jittery about the prospect of a faster-than-expected normalisation of monetary policy by the US Fed.

Rupee ends lower; exporter dollar sales cushion fall

The rupee on Thursday settled at 74.2250 per US dollar against 74.1475 on Wednesday. The domestic currency had opened at 74.2600 to the dollar.

Rupee falls 8 paise to close at 74.14 against US dollar

At the interbank foreign exchange market, the local currency opened at 74.18 and witnessed an intra-day high of 74.08 and a low of 74.26 against the US dollar in day trade.

Rupee falls 23 paise to close below 74-level against US dollar

At the interbank foreign exchange market, the local currency opened at 73.79 and witnessed an intra-day high of 73.73 and a low of 74.12 against the US dollar in day trade.

Rupee ends 15 paise lower at 73.83 against US dollar

At the interbank foreign exchange market, the rupee opened on a weak note at 73.70 and slid to the day's lowest level at 73.84 a dollar towards the fag-end of the session. For a brief period, it ventured into positive territory and touched a high of 73.60.

Cross Currency | Is long term rupee weakness evitable?

It is clearly evident that the inherent nature of the Indian Rupee has been to depreciate against the dollar with intermittent corrections and will continue to be so. The major reason for this is the age-old fact that a high inflation rate will continue to reduce the value of any currency; Indian inflation rates like most emerging market economies have been higher than that of the US.