Rupee rises 58 paise to 94.60 against U.S. dollar in early trade

admin — Mon, 15 Jun 2026 04:54:00 +0000

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| Photo Credit: Getty Images/iStockphotos

The rupee rose 58 paise against the greenback to 94.60 in early trade on Monday (June 15, 2026) as global crude oil prices dropped sharply after U.S. President Donald Trump announced that the U.S. and Iran finalised a deal to end the war.

A strong start to the day at the domestic equity markets and a weaker U.S. dollar further drove the local unit, forex traders said.

At the interbank foreign exchange, the rupee opened at 94.70 against the U.S. dollar before rising further to 94.60, up 58 paise from its previous close.

The rupee surged 67 paise to close at 95.18 against the greenback on Friday.

The U.S. and Iran finalised a deal to end their 107-day war and open the Strait of Hormuz, the narrow waterway used to ferry one-fifth of the global oil supplies, on Friday after an in-person signing of the agreement in Switzerland.

U.S. President Donald Trump made the announcement on Truth Social on Sunday evening, easing pressure on the global energy markets, as officials said the peace agreement would be signed on June 19 in Switzerland.

“Rupee movement today will be significantly influenced by the peace deal between U.S. and Iran and the consequent crash in Brent crude. This means India’s balance of payments problem for FY27 is no longer a serious issue,” V K Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said.

“Rupee started appreciating from the low of 96.96 to the dollar touched on May 20. Today the appreciating trend will continue and the rupee is likely to trade in the 94.80 to 94.60 range with scope for further appreciation in the coming days,” Vijayakumar added.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 99.53, down 0.22%.

Brent crude, the global oil benchmark, was trading lower by 4.66% at $83.26 per barrel in futures trade.

On the domestic equity market front, Sensex surged 1,112.70 points to 76,648.74 in early trade, while Nifty rose sharply by 335.55 points to 23,956.40.

Foreign institutional investors offloaded equities worth ₹1,082.18 crore on a net basis on Friday, according to exchange data.

India’s forex reserves dropped $711 million to $681.610 billion during the week ended June 5 due to a sharp decline in foreign currency reserves, the RBI said on Friday.

Published – June 15, 2026 10:24 am IST

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Lower Kharif sowing calls for deft management of foodgrain stock, prices: Finance Ministry report

admin — Sat, 17 Sep 2022 09:56:11 +0000

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| Photo Credit: Kommuri Srinivas

A Finance Ministry report on September 17 underlined the need for deft management of stocks of agriculture commodities in view of lower crop-sowing for the Kharif Season, stressing there should be no room for complacency on the inflation front.

Overall, inflationary pressures in India appear to be on a decline with a pre-emptive set of administrative measures by the government, agile monetary policy and easing of international commodity prices and supply-chain bottlenecks, according to the monthly Economic Review released by the Finance Ministry.

However, it said, there is no “room for complacency on the inflation front as lower crop-sowing for the Kharif season calls for deft management of stocks of agricultural commodities and market prices without unduly jeopardising farm exports.”

India’s rice production could fall by 10-12 million tonnes during the Kharif season this year due to a fall in paddy sowing area, Food Secretary Sudhanshu Pandey had said earlier this month.

The Kharif season contributes about 80% of India’s total rice production.

There was a huge lag in paddy sowing in the states of Jharkhand (9.80 lakh ha), Madhya Pradesh (6.32 lakh ha), West Bengal (4.45 lakh ha), Chhattisgarh (3.91 lakh ha), Uttar Pradesh (2.61 lakh ha), and Bihar (2.18 lakh ha) so far this kharif season.

Paddy is the main kharif crop and its sowing begins with the onset of the southwest monsoon from June and harvesting from October onwards.

Observing that India’s growth has been robust and inflation in control at a time when slowing growth and high inflation are afflicting most of the major economies of the world.

The report further said inflation in India, a net commodity-importing country, has been a by-product of externally situated exogenous pressures.

“Increase in international prices was reflected in an uptick in domestic prices, though the increase in domestic prices was relatively modest on account of the timely interventions taken by the government. Further, as these external pressures ease, inflationary pressures in India are also likely to subside,” it said.

Several indicators are already pointing to the easing of external pressures, the report said, adding, industrial metals and edible oil prices after peaking in March 2022, have softened, led by recessionary fears in advanced economies.

Crude prices have dropped 19.1% by August since the peak in the month of June 2022 and supply chains are getting restored with decline in port congestion.

The impact is already reflected in the decline in retail and WPI inflation since April 2022. Retail inflation eased to 7% in August as compared to 7.8% in April 2022.

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Rupee rises 58 paise to 94.60 against U.S. dollar in early trade

Lower Kharif sowing calls for deft management of foodgrain stock, prices: Finance Ministry report