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For the first time in history, the Indian Rupee weakened through the 86 level against the U.S. Dollar for a new all-time low
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The rupee fell 15 paise to 89.90 against the US dollar in early trade on Wednesday, weighed down by foreign fund outflows and a muted opening in the domestic equity markets.
Forex traders said foreign portfolio investors continue to offload Indian equities, which has been weighing on the Indian rupee in the last few months.
At the interbank foreign exchange, the local unit opened at 89.89 against the dollar, then fell to 89.90, down 15 paise from its previous close.
On Tuesday, the rupee rose 23 paise to close at 89.75 against the greenback. " US-India trade uncertainties continue with FPIs pulling out USD 16.5 billion from equities this year, adding to importer demand and exporter caution," said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP.
Brent crude, the global oil benchmark, was trading 0.08 per cent lower at USD 61.30 per barrel in futures trade.
On the domestic equity market front, the Sensex opened 188.31 points higher at 84,863.39, while the Nifty rose 80.70 points to 26,009.55.
Foreign institutional investors offloaded equities worth Rs 3,844.02 crore on Tuesday, according to exchange data.
#RupeeLow #usd #IndianRupees #currency #DollarStrength
Forex traders said foreign portfolio investors continue to offload Indian equities, which has been weighing on the Indian rupee in the last few months.
At the interbank foreign exchange, the local unit opened at 89.89 against the dollar, then fell to 89.90, down 15 paise from its previous close.
On Tuesday, the rupee rose 23 paise to close at 89.75 against the greenback. " US-India trade uncertainties continue with FPIs pulling out USD 16.5 billion from equities this year, adding to importer demand and exporter caution," said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP.
Brent crude, the global oil benchmark, was trading 0.08 per cent lower at USD 61.30 per barrel in futures trade.
On the domestic equity market front, the Sensex opened 188.31 points higher at 84,863.39, while the Nifty rose 80.70 points to 26,009.55.
Foreign institutional investors offloaded equities worth Rs 3,844.02 crore on Tuesday, according to exchange data.
#RupeeLow #usd #IndianRupees #currency #DollarStrength
📉 INR Update: Rupee Still Hovering Near Record Lows
The Indian rupee is still under pressure after breaking past the ₹90 mark earlier this week. The currency is trading close to ₹90.11 per USD, not far from the recent all-time low of ₹90.14.
Despite strong economic growth numbers, the rupee remains weak because of continued foreign portfolio outflows, a wide trade deficit, and global dollar strength. Analysts say these external factors are outweighing India’s solid domestic fundamentals.
In short: the rupee hasn’t recovered, and import-related costs may stay elevated unless flows turn positive again or the dollar cools down.
#IndianRupees #USDOLLAR #WriteToEarnUpgrade #INR
The Indian rupee is still under pressure after breaking past the ₹90 mark earlier this week. The currency is trading close to ₹90.11 per USD, not far from the recent all-time low of ₹90.14.
Despite strong economic growth numbers, the rupee remains weak because of continued foreign portfolio outflows, a wide trade deficit, and global dollar strength. Analysts say these external factors are outweighing India’s solid domestic fundamentals.
In short: the rupee hasn’t recovered, and import-related costs may stay elevated unless flows turn positive again or the dollar cools down.
#IndianRupees #USDOLLAR #WriteToEarnUpgrade #INR
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