Rupee falls 20 paise to 95.95 against U.S. dollar in early trade
Foreign fund outflows and higher crude prices pressured the rupee as the dollar index rose 0.15% to 101.11, traders said.
- On Monday, the Indian rupee depreciated 20 paise to 95.95 against the United States dollar amid foreign fund outflows during the ongoing West Asia conflict.
- Elevated global crude oil prices pressure the local unit, as Brent remains above the $100 mark; Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, noted President Donald Trump rejecting Iran's peace proposal has kept oil prices high.
- Reserve Bank of India data released Friday showed forex reserves dropped $14.881 billion to $765.901 billion during the week ended September 18, while domestic equity markets fell sharply on Monday with the Sensex dropping 730 points.
- Governor Destry Damayanti stated Bank Indonesia reduced spot market interventions to 30 percent of total operations to preserve reserves as the Indonesian rupiah breached 18,000 against the dollar.
- The RBI continues to hold the 96.00 range to stabilize the local unit, focusing on mitigating rising import bills fueled by elevated energy costs amid external pressures.
19 Articles
19 Articles
Rupiah back near 18,000 on strong dollar, high oil price - Markets
At a hearing with the House of Representatives on Monday, BI Governor Destry Damayanti said the central bank had reduced its spot market foreign exchange interventions to 30 percent of total interventions because they were too costly.
The rupiah has weakened today. Analysts expect the rupiah to be in the range of 17,900 per U.S. dollar- 18,000 per U.S. dollar.
Rupee's likely to slip despite RBI push for stability
The rupee could decline to 96-97 per dollar by the end of FY27 due to several factors. Persistent outflows from Indian financial assets and elevated crude oil prices create additional pressure. Although the Reserve Bank of India argues for potential stabilization, economists remain skeptical of this outlook. Recent foreign exchange actions indicate ongoing depreciation pressures on the currency.
Rupee falls 28 paise to close at 96.03 against US dollar - OrissaPOST
Mumbai: The rupee depreciated 28 paise to close at 96.03 (provisional) against the US dollar Monday, on risk-off sentiments in global markets after the US rejected a deal proposal by Iran, diminishing hopes of reopening of the Strait of Hormuz. Forex traders said global risk sentiments deteriorated as the stalemate between the US and Iran […]
Coverage Details
Bias Distribution
- 60% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
