Image used for representational purposes.
| Photo Credit: Reuters

Foreign institutional investors sold equities worth ₹3,795.72 crore on a net basis on November 2, 2025, according to exchange data. File
| Photo Credit: The Hindu

FIIs offloaded ₹278.70 crore in the capital markets on a net basis on Monday (December 16, 2024). File
| Photo Credit: The Hindu

The rupee dropped 1 paisa to hit a new lifetime low of 84.92 against the U.S. dollar in early trade on Tuesday (December 17, 2024), weighed down by foreign fund outflows and a muted trend in domestic equities.

Forex traders said the rupee is likely to remain under pressure due to dollar demand from importers and foreign banks.

At the interbank foreign exchange, the rupee opened at 84.89 against the greenback, then fell further to 84.92 against the American currency, registering a fall of 1 paisa over its previous close.

On Monday (December 16, 2024), the rupee depreciated by 11 paise to close at an all-time low level of 84.91 against the U.S. dollar.

“The Indian rupee is expected to open at its lowest after a record number in respect of imports and a record trade deficit for November 24 mainly on account of increase in gold buying, took rupee lower in the NDF (Non-Deliverable Forward) markets,” said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.

“The opening will depend on where RBI supports rupee, but the trend indicated weakness. The range for the day is 84.75/00 with a close watch on RBI,” Mr. Bhansali added.

On the domestic macroeconomic front, India’s exports in November contracted by 4.85% year-on-year to $32.11 billion, while the trade deficit widened to an all-time high of $37.84 billion due to a record surge in gold imports.

The country’s gold imports in November reached a record high of $14.86 billion, registering a four-fold increase, mainly on account of festival and wedding demands, according to commerce ministry data.

Gold imports stood at $3.44 billion in November 2023.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading lower by 0.02% at 106.83.

Brent crude, the global oil benchmark, fell 0.12% to $73.82 per barrel in futures trade.

In the domestic equity market, the 30-share BSE Sensex was trading 326.76 points or 0.40% down at 81,421.81 points in morning trade, while Nifty was down 107.50 points or 0.44% to 24,560.75 points.

Foreign Institutional Investors (FIIs) offloaded ₹278.70 crore in the capital markets on a net basis on Monday (December 16, 2024), according to exchange data.

Image used for representative purpose only
| Photo Credit: C. Venkatachalapathy

The rupee slipped 2 paise to an all-time low of 84.40 against the U.S .dollar in early trade on Tuesday (November 12, 2024), as persistent foreign fund outflows and strength of the American currency in the overseas market dented investors’ sentiments.

Forex traders said the rupee is expected to trade between 83.80 and 84.50 in the medium term with the Reserve Bank of India likely limiting any significant downside, aided by its robust foreign exchange reserves.

At the interbank foreign exchange, the rupee opened at 84.39 against the greenback, then fell further to an all-time low of 84.40, registering a fall of 2 paise over its previous close.

On Monday, the rupee dropped 1 paisa to hit a new lifetime low of 84.38 against the U.S. dollar, registering the fourth straight session of loss.

“The Reserve Bank of India plays a key role in stabilizing the rupee, curbing its depreciation. Despite the Emerging Market Currencies Index dropping 6.30% from October 2, the rupee fell only 0.6%, reflecting the RBI’s strong defence of the currency,” CR Forex Advisors MD Amit Pabari said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading higher by 0.09% at 105.63.

Brent crude, the global oil benchmark, fell 0.25% to USD 71.65 per barrel in futures trade.

On the domestic equity market front, Sensex was trading 77.35 points, or 0.02% higher, to 79,573.50 points. The Nifty rose 19.90 points, or 0.08%, to 24,161.20 points.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday, as they offloaded shares worth ₹2,306.88 crore, according to exchange data.

“Foreign investments in Indian equities have sharply declined, with over USD 2 billion withdrawn in November following an USD 11 billion outflow in October. This trend reflects overvalued Indian stocks and weak Q2 earnings, dampening foreign capital interest,” Mr. Pabari said.

Meanwhile, an SBI research report on Monday said that the rupee may depreciate 8-10% against the U.S. dollar during the Trump 2.0 regime.

The report, titled US Presidential Election 2024: How Trump 2.0 Impacts India’s and Global Economy, emphasised that the rupee can have a brief spell of depreciation against the U.S. dollar, followed by appreciation.

Image used for representative purpose only
| Photo Credit: C. Venkatachalapathy

The rupee slipped 1 paisa to an all-time low of 84.38 against the U.S. dollar in early trade on Monday, weighed down by persistent foreign fund outflows and a muted trend in domestic equities.

Forex traders said the rupee is likely to remain under pressure unless there is a softening in the dollar index or a slowdown in foreign fund outflows.

At the interbank foreign exchange, the rupee opened at an all-time low of 84.38 against the greenback, registering a fall of 1 paisa over its previous close.

On Friday, the rupee dropped 5 paise to hit a new lifetime low of 84.37 against the U.S. dollar, registering a decline for the third straight session.

Last week, the rupee came under pressure amid the US elections and sustained foreign fund outflows. Following nearly USD 12 billion in equity sell-offs in October, foreign funds have continued their retreat in November, with outflows of around USD 1.6 billion recorded in just the first 10 days.

This trend reflects the overvaluation of Indian equities and disappointing Q2 earnings, CR Forex Advisors MD Amit Pabari said.

“In the medium term, the rupee is expected to trade within the 83.80 to 84.50 range, as the Reserve Bank seems to cap the downside of the rupee with sufficient Forex reserves in its kitty,” Pabari added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading higher by 0.05% at 105.05.

Brent crude, the global oil benchmark, fell 0.37% to USD 73.60 per barrel in futures trade.

On the domestic equity market front, Sensex was trading 12.47 points, or 0.02% lower, to 79,473.85 points. The Nifty fell 5.65 points, or 0.02%, to 24,142.55 points.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday, as they offloaded shares worth ₹3,404.04 crore, according to exchange data.

Meanwhile, India’s forex reserves declined by USD 2.675 billion to USD 682.13 billion for the week ended November 1, the RBI said on Friday.

In the previous week, the overall reserves had dropped by USD 3.463 billion to USD 684.805 billion. At September-end, the reserves had hit an all-time high of USD 704.885 billion.

At the interbank foreign exchange, the rupee opened at an all-time low of 84.23 against the greenback, registering a fall of 14 paise over its previous close. File
| Photo Credit: The Hindu

The rupee fell 14 paise to an all-time low of 84.23 against the U.S. dollar in early trade on Wednesday (November 6, 2024), dragged down by persistent foreign fund outflows and the strength of the American currency in the overseas market.

Forex traders said with the U.S. election underway, markets are already showing signs of volatility — a trend likely to calm once a clear winner emerges in this tightly contested race.

Also Read: U.S. Elections 2024 results update November 6, 2024

Moreover, the U.S. Fed is expected to announce a rate cut in a meeting scheduled later this week, with further easing of up to 100 basis points projected for 2025.

At the interbank foreign exchange, the rupee opened at an all-time low of 84.23 against the greenback, registering a fall of 14 paise over its previous close.

On Tuesday (November 5, 2024), the rupee settled 2 paise higher at 84.09 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 1.64% higher at 105.11.

“The dollar index rose after Trump went up in the U.S. election initial results and was also leading in the Senate and House,” said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP.

Brent crude, the global oil benchmark, fell 0.98% to $74.79 per barrel in futures trade.

“All will depend on RBI as to where it will allow the rupee to open and how it will move depending on intra-day election results. Wide range for rupee would be 84.00 to 84.35,” Bhansali said.

On the domestic equity market front, Sensex advanced 390.93 points, or 0.49%, to 79,867.56 points. The Nifty jumped 135.60 points, or 0.56%, to 24,348.90 points.

Foreign institutional investors (FIIs) were net sellers in the capital markets on Tuesday (November 5, 2024), as they offloaded shares worth Rs 2,569.41 crore, according to exchange data.

At the interbank foreign exchange, the rupee opened at 84.08 against the greenback; it rose 1 paisa to 84.07 in initial trade. File
| Photo Credit: The Hindu

The rupee opened on a flat note and rose 1 paisa to 84.07 against the U.S. dollar in initial deals on Thursday (October 31, 2024), as strong dollar and persistent foreign fund outflows dented investor sentiments.

Forex traders said that the rupee remained range-bound as month-end demand kept the U.S. dollar well-bid.

“Moreover, a muted trend in domestic equities weighed on the local unit, while any intervention by the Reserve Bank of India (RBI) may support the local currency at lower levels,” they said.

At the interbank foreign exchange, the rupee opened at 84.08 against the greenback; it rose 1 paisa to 84.07 in initial trade.

On Wednesday (October 30, 2024), the rupee depreciated 3 paise to close at 84.08 against the U.S. dollar.

The local currency has been hovering around its all-time low level. The rupee touched its lowest closing level of 84.10 against the dollar on October 11.

“The rupee has been trading below the 84-level for the majority of October, but the recent pressure is primarily due to domestic factors, notably month-end dollar demand from local oil companies,” CR Forex Advisors MD Amit Pabari said.

However, upcoming IPO inflows may offer the rupee some relief as companies like Swiggy, Acme Solar Holdings, and Sagility Limited prepare to raise funds next week.

“As a result, we anticipate the USD-INR pair to remain within a narrow range of 83.80 to 84.20, with RBI interventions offering critical support to prevent any significant downside,” Mr. Pabari added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 104.14, higher by 0.14%.

Brent crude, the global oil benchmark, was up 0.48% to $72.90 per barrel in futures trade.

On the domestic equity market front, Sensex declined 163.76 points, or 0.20%, to 79,778.42 points. The Nifty fell 32.00 points, or 0.13%, to 24,308.85 points.

Foreign institutional investors (FIIs) were net sellers in the capital markets on Wednesday (October 30, 2024), as they offloaded shares worth ₹4,613.65 crore, according to exchange data.

On the macroeconomic front, the output of eight key infrastructure sectors expanded by 2% in September, though the growth was slower than the 9.5% registered in the same month last year, according to official data released on Wednesday (October 30, 2024).

The Centre’s fiscal deficit at the end of the first half of financial year FY25 touched 29.4% of the full-year target, government data showed on Wednesday (October 30, 2024).

Image used for representative purpose only
| Photo Credit: R. Ragu

The rupee opened on a flat note and depreciated 2 paise to 84.07 against the U.S. dollar in initial deals on Wednesday (October 30, 2024), weighed down by persistent foreign fund outflows and muted domestic equities.

Forex traders said the strength of the American currency in overseas markets dented investor sentiments, while easing crude oil prices and any intervention by the Reserve Bank of India (RBI) may support the local currency at lower levels.

At the interbank foreign exchange, the rupee opened at 84.06 against the greenback. In the initial trade, it touched 84.07, down 2 paise from its previous closing.

On Tuesday, the rupee gained 2 paise to settle at 84.05 against the U.S. dollar.

The local currency has been hovering around its all-time low level. Rupee touched its lowest closing level of 84.10 against the dollar on October 11.

According to traders, the rupee remains under intense pressure, mainly due to persistent foreign fund outflows.

“The Indian rupee remains firmly range-bound, trading between 83.90 and 84.10, with the RBI actively limiting any upside movement in the pair. This controlled approach suggests the rupee is likely to continue within this range, with a bias towards trading closer to the lower end,” CR Forex Advisors MD Amit Pabari said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading at 104.31.

Brent crude, the global oil benchmark, was up 0.51% to USD 71.48 per barrel in futures trade.

On the domestic equity market front, Sensex declined 325.94 points, or 0.41%, to 80,043.09 points. The Nifty fell 90.75 points, or 0.37%, to 24,376.10 points.

Foreign institutional investors (FIIs) were net sellers in the capital markets on Tuesday, as they offloaded shares worth ₹548.69 crore, according to exchange data.

At the interbank foreign exchange, the rupee opened at 84.08 against the greenback. In the initial trade, it touched 84.07, registering a rise of 1 paisa over its previous close. File
| Photo Credit: The Hindu

The rupee witnessed range-bound trade and appreciated by just 1 paisa to 84.07 against the U.S. dollar in initial deals on Monday (October 28, 2024), weighed down by significant foreign fund outflows and the strength of the American currency in the overseas market.

Forex traders said the rupee is likely to trade in a narrow range during the day as the strong dollar weighs on the local unit, while positive domestic equities, weak crude oil prices and any intervention by the Reserve Bank of India (RBI) may also support the local currency at lower levels.

At the interbank foreign exchange, the rupee opened at 84.08 against the greenback. In the initial trade, it touched 84.07, registering a rise of 1 paisa over its previous close.

On Friday (October 25, 2024), the rupee edged lower by just 1 paisa to settle near an all-time low at 84.08 against the U.S. dollar.

The local currency touched its lowest closing level of 84.10 against the dollar on October 11, 2024.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.28% lower at 104.54.

Brent crude, the global oil benchmark, eased 4.39% to $72.71 per barrel in futures trade.

According to traders, the rupee remains under intense pressure, mainly due to persistent foreign fund outflows.

According to CR Forex Advisors MD Amit Pabari, the rupee continues to hover around the 84 mark, a trend largely driven by the stronger dollar index through most of October.

“Given the lighter data schedule and Diwali festivities, trading volumes are likely to stay subdued this week. However, pressure on the rupee is expected to persist until FII outflows ease, fuelled in part by high valuations in Indian equities,” Mr. Pabari noted.

‘The USD-INR pair is anticipated to trade within a narrow range of 83.80 to 84.20, with downside support from the RBI’s reserves,” he added.

On the domestic equity market front, Sensex advanced 209.10 points, or 0.26%, to 79,611.39 points. The Nifty rose 13.55 points, or 0.06%, to 24,194.35 points.

Foreign institutional investors (FIIs) were net sellers in the capital markets on Friday (October 25, 2024) Mr. Pabari, as they offloaded shares worth ₹3,036.75 crore, according to exchange data.

Meanwhile, India’s forex reserves dropped by $2.163 billion to $688.267 billion for the week ended October 18, the Reserve Bank said on Friday (October 25, 2024).

In the previous reporting week, the overall kitty had dropped by $10.746 billion to $690.43 billion in one of the largest declines in the reserves in recent times, the RBI said on Friday (October 25, 2024).

At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and slipped 1 paisa to trade at the previous day’s closing level in initial deals. File
| Photo Credit: The Hindu

The rupee stayed flat at 84.07 against the U.S. dollar in early trade on Thursday (October 24, 2024) amid elevated crude oil prices and continuous withdrawal of foreign funds from the capital market.

However, the local unit found some cushion as the dollar retreated from its higher level while the domestic equity markets indicated a recovery, forex traders said.

At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and slipped 1 paisa to trade at the previous day’s closing level in initial deals.

On Wednesday (October 23, 2024), the rupee had settled with a marginal gain of 1 paisa at 84.07 against the U.S. dollar.

The local currency has been struggling to recover since October 11, when it closed at its lowest level of 84.10 against the dollar.

Analysts said the selling rush by foreign investors in pursuit of better gains from the Chinese market has been preventing the rupee’s recovery, while higher U.S. Treasury yields have triggered the fear of slower interest rate cut by the Federal Reserve.

Amid uncertain geopolitics, weeks ahead of the U.S. presidential election also steered investors towards safe-haven bets, they said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell marginally by 0.07% but remained elevated at 104.20.

Brent crude, the international benchmark, rose 1.27% to $75.91 per barrel in futures trade.

On the domestic equity market front, Sensex rose 68.86 points, or 0.09%, to 80,150.84 points. The Nifty slipped 23.50 points, or 0.10%, to 24,412.00 points.

Foreign institutional investors (FIIs) were net sellers in the capital markets on Wednesday (October 23, 2024), as they offloaded shares worth ₹ 5,684.63 crore, according to exchange data.