Rupee traded in a tight range as investors preferred to remain on the sidelines amid uncertainties over global trade, forex traders said.
| Photo Credit: Reuters

A man counts Indian currency notes at a market in Bengaluru, India, August 1, 2025. REUTERS/Priyanshu Singh
| Photo Credit: Reuters

At the interbank foreign exchange, the rupee opened at 84.70 against the greenback, then touched 84.73 in the initial trade, registering a fall of 7 paise over its previous close. Representational image.

The rupee fell 7 paise to trade at 84.73 against the U.S. dollar in early trade on Monday (December 9, 2024) dragged down by foreign fund outflows and a muted trend in domestic equities.

Forex traders said the rupee remains in a weakening mode due to dollar demand from importers and foreign banks.

At the interbank foreign exchange, the rupee opened at 84.70 against the greenback, then touched 84.73 in the initial trade, registering a fall of 7 paise over its previous close.

On Friday (December 5, 2024), the rupee appreciated by 5 paise to settle at 84.66 against the U.S. dollar.

“On the domestic front, all eyes will be on Industrial Production (IIP) and CPI data following last week’s RBI monetary policy announcement. The 50-basis point CRR cut provided much-needed liquidity and lent support to the Rupee,” CR Forex Advisors MD Amit Pabari said.

The Reserve Bank of India on Friday kept its key interest rate unchanged citing inflation risks, but cut the Cash Reserve Ratio that banks are required to park with the central bank, boosting money with lenders to support a slowing economy.

Mr. Pabari further said that a wave of IPO activity is expected to drive substantial inflows, offering additional support to the rupee.

“We anticipate the rupee’s downside to remain limited, with the USDINR pair likely to trade in a range of 84.50 to 85 in the near term,” Mr. Pabari added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading higher by 0.08 per cent at 106.14.

Brent crude, the global oil benchmark, rose 0.08 per cent to USD 106.15 per barrel in futures trade.

In the domestic equity market, the 30-share BSE Sensex was trading 76.29 points or 0.09 per cent down at 81,632.83 points in morning trade, while Nifty was down 24.20 points or 0.1 per cent to 24,653.60 points.

Foreign Institutional Investors (FIIs) offloaded Rs 1,830.31 crore in the capital markets on net basis on Friday, according to exchange data.

Meanwhile, India’s forex reserves increased by USD 1.51 billion to USD 658.091 billion for the week ended November 29, the RBI said on Friday. The overall reserves had dropped by USD 1.31 billion to USD 656.582 billion in the previous reporting week.

Forex traders said subdued equity market sentiment and strengthening American currency weighed on the domestic unit. Image for representation purposes only. File
| Photo Credit: Reuters

The rupee appreciated 2 paise to 82.89 against the U.S. dollar in early trade on February 26 on the back of foreign funds inflow and retreating crude oil prices in the overseas market.

Forex traders said subdued equity market sentiment and strengthening American currency weighed on the domestic unit.

Also, they said investors adopted cautious approach ahead of inflation and other macroeconomic data to be released in India as well as in the U.S. later this week.

At the interbank foreign exchange, the local currency opened at 82.88 and slipped further to 82.89 against the greenback, registering a gain of 2 paise from the previous close.

On Friday, the rupee settled 6 paise lower at 82.91 against the U.S. dollar.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was 0.06% higher at 103.92.

Brent crude futures, the global oil benchmark, was trading 0.45% lower at $82.25 per barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 219.37 points or 0.30% lower at 72,923.43 points. The broader NSE Nifty declined 51.10 points or 0.23% to 22,161.60 points.

Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday as they purchased worth ₹1,276.09 crore, according to exchange data.

India’s forex reserves declined $5.24 billion to $617.23 billion for the week ending February 9, according to weekly data released by the Reserve Bank of India (RBI) on Friday.

Image used for representational purpose only.
| Photo Credit: Reuters

The rupee continued its upward trend for the second straight session and appreciated by 9 paise to 82.93 against the U.S. dollar in early trade on Septmber 11, tracking positive cues from domestic equity markets and a weak American currency against major overseas rivals.

However, firm crude oil prices hovering above $ 90 per barrel and outflow of foreign funds weighed on the Indian currency, forex traders said.

At the interbank foreign exchange, the domestic unit opened 9 paise higher at 82.93 and traded in a narrow range of 82.90 to 82.96 against the greenback.

Also read | Rupee snaps 4-day losing streak, gains 21 paise against U.S. Dollar

On Friday, the rupee closed at 83.02 against the U.S. dollar.

Gaurang Somaiya, forex and bullion analyst, Motilal Oswal Financial Services, said this week the domestic inflation number will be important to watch and could trigger volatility for the currency.

“Today, volatility for major crosses including the rupee could remain low as no major economic data is expected to release. We expect the USDINR (Spot) to trade sideways with a positive bias and quote in the range of 82.80 and 83.40,” Mr. Somaiya added.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.35% to 104.72.

Brent crude futures, the global oil benchmark, was trading 0.24% lower at $90.43 per barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 201.56 points or 0.30 % higher at 66,800.47. The broader NSE Nifty advanced 69.45 points or 0.35% to 19,889.40.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday as they offloaded shares worth ₹224.22 crore, according to exchange data.

Image used for representational purpose only.
| Photo Credit: Reuters

The rupee recovered from its all-time low levels and appreciated by 10 paise to 83.13 against the U.S. dollar in early trade on Friday, tracking a positive trend in domestic equities.

Forex traders said the rupee is trading in a narrow range as firm crude oil prices and the strength of the American currency in the overseas market dented investor sentiments, while positive domestic equities cushioned the downside.

At the interbank foreign exchange, the domestic unit opened at 83.13, registering a rise of 10 paise over its last close.

On Thursday, the rupee depreciated 10 paise to its lifetime low of 83.23 against the U.S. dollar.

Forex traders expect the rupee to trade with a negative bias on a strong dollar and elevated crude oil prices. Disappointing European data may further support the dollar.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell marginally by 0.15% to 104.89.

Brent crude futures, the global oil benchmark, fell 0.61% to $89.37 per barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 168.59 points or 0.25% higher at 66,434.15. The broader NSE Nifty advanced 41.80 points or 0.21% to 19,768.85.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Thursday as they offloaded shares worth ₹758.55 crore, according to exchange data.

FIIs were net sellers in the capital market on September 7 as they offloaded shares worth ₹3,245.86 crore, according to exchange data. Image for representation purpose only. File
| Photo Credit: Reuters

The rupee depreciated for the fourth straight day and settled nine9 paise lower at its lifetime low of 83.22 (provisional) against the U.S. dollar on September 7 amid a firm American currency and elevated crude oil prices.

Positive trend in the domestic equity markets, however, provided a cushion to the rupee, according to forex traders.

Crude oil breached the $90 per barrel-mark after oil-producing countries agreed to extend supply cut till December this year while dollar stayed firm on safe-haven demand.

At the interbank foreign exchange, the domestic unit opened at 83.15 against the dollar and traded in the range of 83.12 to 83.22 against the greenback. It ended at the lowest level of 83.22 (provisional) against the dollar, registering a fall of nine paise from its previous close.

On Wednesday, the rupee settled nine9 paise lower at 83.13 against the dollar. Earlier, the Indian currency had closed at the same level of 83.13 on August 21.

The domestic unit has declined 60 paise since Monday when it had closed nine9 paise lower at 82.71 against the greenback. On Tuesday, the unit had plunged 33 paise, the sharpest fall this week.

“We expect rupee to trade with a negative bias on strong dollar and elevated crude oil prices. Disappointing European data may further support dollar. Rising U.S. treasury yields and concerns over global economic growth may also weigh on rupee,” Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas, said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose by 0.09% to 104.95.

Brent crude futures, the global oil benchmark, was trading 0.39% lower at $90.25 per barrel.

On the domestic equity market front, the BSE Sensex closed 385.04 points or 0.58% higher at 66,265.56 points while the broader Nifty jumped 116 points or 0.59% to end at 19,727.05 points.

Foreign Institutional Investors (FIIs) were net sellers in the capital market on Wednesday as they offloaded shares worth ₹3,245.86 crore, according to exchange data.

On August 8, the rupee had settled at more than 8-month low level of 82.91 against the dollar. Image for representation purpose only. File
| Photo Credit: PTI

The rupee appreciated by 10 paise to 82.81 against the U.S. dollar in early trade on August 9 gaining ground from the 8-month low level amid weakening American currency against major rivals overseas.

However, weak equity markets, outflow of foreign funds and crude prices breaching $85 per barrel weighed on the local unit, said analysts.

Participants were trading cautiously awaiting the U.S. inflation data, the U.K.’s GDP number and RBI’s monetary policy decision to be announced on Thursday.

At the interbank foreign exchange, the domestic unit opened stronger at 82.83 against the dollar and touched a peak of 82.80.

The rupee later traded at 82.81, registering a gain of 10 paise over its previous close.

On Tuesday, the rupee had settled at more than 8-month low level of 82.91 against the dollar.

“Upside attempts lingered on, but momentum continued to be absent. While we continue to play for 82.90, dips to 82.65 may be expected,” Anand James, Chief Market Strategist at Geojit Financial Services, said in his USD-INR outlook.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell by 0.07 per cent to 102.45.

Global oil benchmark Brent crude was trading 0.21% lower at $85.99 per barrel.

In the domestic equity market, the 30-share BSE Sensex was trading 120.66 points or 0.18% lower at 65,725.84. The broader NSE Nifty declined 19.90 points or 0.10% to 19,550.95.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday as they offloaded shares worth ₹711.34 crore, according to exchange data.