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Searched Tag: indian rupee

Rupee trades in narrow range against US dollar in early hours

Rupee trades in tight range against US dollar in early hours

September 11, 2024, 10:09 AM - 3 min read

Forex traders said foreign institutional inflows, alongside significant corrections in asset classes like the dollar index and crude oil prices, supported the rupee, while the Reserve Bank's active intervention kept the rupee in a tight range.

Rupee ranks second-worst against USD in August

September 1, 2024, 09:09 PM - 3 min read

The Indian rupee was the second-worst-performing Asian currency in August after the Bangladeshi taka due to strong dollar demand and outflows from domestic equities. It depreciated by 0.2 per cent during the month.

Rupee recovers 6 paise against dollar

June 21, 2024, 05:49 PM - 2 min read

The local unit, however, faced resistance due to strengthening American currency and subdued sentiment in the domestic equity markets, forex traders said.

Traders are closely watching the Reserve Bank of India (RBI) as the Indian rupee is expected to gain ground at the start of trading on Monday, coupled with the maturity of a $5 billion swap, indicating potential liquidity adjustments.

Indian rupee's rise and $5 billion swap maturity put spotlight on RBI

March 11, 2024, 01:00 PM - 2 min read

The rupee's ascent is expected to be bolstered by a predominantly weak dollar. The dollar index stood at 102.70, following a dip to nearly a two-month low on Friday, prompted by a decline in U.S. Treasury yields that diminished demand for the dollar.

Finance Minister Nirmala Sitharaman. Image X.

Finance Minister Sitharaman champions Rupee trade Revolution at JNU lecture

March 1, 2024, 09:32 PM - 2 min read

Finance Minister Nirmala Sitharaman delivered significant insights during the Pandit Hriday Nath Kunzru Memorial Lectures 2024 at JNU, shedding light on India's robust economic fundamentals and the evolving global trade scenario.

The rupee appreciated 13 paise to close at 82.83 (provisional) against the US dollar on Thursday, tracking the weakness of the American currency in the overseas market and positive domestic equities.

Rupee rises 13 paise to close at 82.83 against US dollar

February 22, 2024, 06:48 PM - 2 min read

At the interbank foreign exchange, the local unit opened at 82.94 against the greenback. It hit an intraday high of 82.83 during the day. The domestic unit finally settled at 82.83 (provisional) against the dollar, higher by 13 paise from its previous close of 82.96.