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The rupee opened on a weak note and declined by 21 paise to 71.09 against the US dollar in opening trade on Monday, as sustained foreign fund outflows weighed on investor community. Forex traders said rising demand for the US dollar vis-a-vis other currencies overseas also weighed on the domestic currency. The rupee opened weak at 71.00 at the interbank forex market and then fell further to 71.09, down 21 paise over its last close. The rupee had settled at 70.88 against the US dollar on Friday. However, easing crude oil prices supported the rupee and restricted the downfall. Brent crude futures, the global oil benchmark, eased 0.27 per cent to USD 58.21 per barrel. Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 682.93 crore on Friday, as per provisional data. On the domestic market front, benchmark indices Sensex was trading 220.22 points higher at 37,893.53 and Nifty up 51.50 points at 11,226.25. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.03 per cent to 98.83. The 10-year government bond yield was at 6.68 per cent in morning trade.

Foreign investors are pulling money out of India and that's hurting the rupee

The Indian rupee plunged 45 paise to 74.20 against US dollar in early trade on Monday tracking weak opening in domestic equities and sustained foreign fund outflows. Forex traders said investors are on tenterhooks amid mounting fears of a coronavirus-led economic slowdown, even after the <keyword id="50847" type="COMPANY" weightage="20" keywordseo="Reserve-Bank">Reserve Bank</keyword> stepped in to maintain sufficient liquidity in the panick-stricken currency market. The rupee opened weak at 74.10 at the interbank forex market and then fell further to 74.20, down 45 paise over its last close. The local unit had settled at 73.75 against the US dollar on Friday. Traders said there is a sense of anxiety among investors as they see the global economy is plunging into a deep crisis due to coronavirus (Covid-19) pandemic that has killed over 6,000 and sickened lakhs of people around the globe. Meanwhile, the RBI on Friday said it is closely monitoring the current global situation and assured that it will take all steps to keep markets adequately liquid and stable. "The RBI is closely and continuously monitoring the rapidly evolving global situation and will take all necessary measures to ensure that money, debt and forex markets remain adequately liquid and stable, and continue to function normally," the central bank said had in a statement. The RBI earlier also announced measures to infuse liquidity in the <keyword id="136565" type="PERSON" weightage="20" keywordseo="Foreign-Exchange-market">foreign exchange market</keyword>, including the US dollar swaps worth USD 2 billion. Foreign investors remained net sellers in Indian capital markets for the fifth straight day, pulling out more than Rs 6,027.58 crore on Friday amid a global sell-off in equities, market data showed. Domestic bourses opened on a negative note on Monday with benchmark indices Sensex trading 1,808.68 points down at 32,294.80 and Nifty fell 521.05 points to 9,434.15. Brent crude futures, the global oil benchmark, fell 2.87 per cent to USD 32.88 per barrel. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.44 per cent to 98.31. The 10-year government bond yield was at 6.22 per cent in morning trade.

Rupee plunges 45 paise to 74.20 against US dollar in early trade

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> appreciated 26 paise to 82.62 against the US dollar in early trade on Tuesday tracking a positive trend in domestic equities. At the <keyword id="6515855" type="General" weightage="20" keywordseo="interbank-foreign-exchange" source="Orion">interbank foreign exchange</keyword>, the domestic unit opened at 82.71 against the dollar, then gained some ground to quote at 82.62, a gain of 26 paise over its previous close. In the previous session on Friday, the rupee slipped 9 paise to close at 82.88 against the dollar. The forex market was closed on Monday on account of Diwali. The dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.12 per cent to 111.85. Brent crude futures, the global oil benchmark, rose 0.28 per cent to USD 93.52 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 51.96 points or 0.09 per cent higher at 59,883.62. Similarly, the broader NSE Nifty rose 23.80 points or 0.13 per cent to 17,754.55. Foreign Institutional Investors (FIIs) were net sellers in the capital markets as they offloaded shares worth Rs 153.89 crore on Monday, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/despite-inflation-and-hiked-interest-rates-demand-for-real-estate-properties-to-grow-this-festive-season/articleshow/95014935.cms">Despite inflation and hiked interest rates, demand for real estate properties to grow this festive season</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/budget2016/infrastructure/real-estate/the-state-which-resolved-the-most-home-buyer-complaints-is-the-most-sluggish-when-it-comes-to-rera-registrations/articleshow/95071836.cms">The state which resolved the most home buyer complaints is the most sluggish when it comes to RERA registrations</a>

Rupee gains 26 paise to 82.62 against US dollar

New Delhi, The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> appreciated 3 paise to 83.37 against the US dollar in early trade on Monday, amid sustained inflow of foreign funds and bullish sentiment in the domestic equity market. An upward movement in crude oil prices, however, weighed on the Indian currency, according to forex traders. At the interbank foreign exchange market, the local unit opened at 83.39 against the dollar and rose to 83.37, up 3 paise from its previous close. On Friday, the rupee depreciated 4 paise to close at 83.40 against the US dollar. Gaurang Somaiya, forex and bullion analyst at Motilal Oswal Financial Services, said that investors will keep a close eye on monetary policy decisions from <keyword id="6356435" type="General" weightage="80" keywordseo="us-federal-reserve" source="Orion">US Federal Reserve</keyword> and other central banks to be announced this week. "... the commentary from the (US Fed) Governor will be important to watch and gauge a view for the major crosses. Today, volatility could remain low as no major economic data is expected to be released from the US. We expect the USD-INR (spot) to trade sideways and quote in range of 83.20 and 83.50," Somaiya added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03 per cent higher at 103.66. Brent crude futures, the global oil benchmark, advanced 0.59 per cent to USD 76.29 per barrel. In the domestic equity market, the 30-share BSE Sensex breached the 70,000-level for the first time on Monday and was trading 198.72 points or 0.28 per cent higher at 70,024.32 points. The broader NSE Nifty also jumped 39.70 points or 0.19 per cent at 21,009.10 points. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday as they bought shares worth Rs 3,632.30 crore, according to exchange data. On Friday, the <keyword id="6354335" type="General" weightage="80" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (RBI) kept the benchmark repurchase rate unchanged at 6.5 per cent and retained the retail inflation projection for the current fiscal at 5.4 per cent. As per the latest RBI data, India's foreign exchange reserves increased to USD 604 billion as on December 1, surpassing the USD 600 billion-mark after a gap of about four months.

Bullish domestic markets push up Rupee to 83.37/USD

The <keyword id="19949639" type="General" weightage="100" keywordseo="rupee" source="keywords">rupee</keyword> rose 2 paise to 83.71 against the US currency in early trade on Wednesday following a marginal dip in the dollar in overseas markets. At the interbank currency exchange, the domestic currency opened at 83.72, 1 paisa higher than the previous day's close. The domestic unit moved in the tight range of 83.70-83.72 in early trade. <keyword id="2155647" type="General" weightage="20" keywordseo="Forex-traders" source="Orion">Forex traders</keyword> said the rise in Brent crude oil prices offset the rupee's gains following the decline in dollar rates overseas. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.19 per cent to 104.36. Brent crude futures -- the global oil benchmark -- rose 1.49 per cent to USD 79.80 per barrel. All eyes will be on the US Fed rate announcement later in the day. Expectations are ripe that the Federal Reserve might signal a rate cut as early as September. In the domestic <keyword id="19911354" type="General" weightage="20" keywordseo="equity-market" source="keywords">equity market</keyword>, the 30-share BSE Sensex showed volatility, rising over 200 points in early trade to reach a record high before trading at 81,517.75, up 62.35 points, at 9.35 am. Foreign institutional investors were net sellers in the capital markets on Tuesday, offloaded shares worth Rs 5,598.64 crore, according to exchange data.

Rupee rises 2 paise to 83.71 against US dollar in early trade, following a marginal dip in the dollar

The <keyword id="19949639" type="General" weightage="100" keywordseo="Rupee" source="keywords">rupee</keyword> recovered from its <keyword id="22025417" type="General" weightage="20" keywordseo="all-time-low" source="keywords">all-time low</keyword> level and opened 25 paise higher at 83.84 against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords" meta.keywordsubtype="org" meta.entityname="US dollar" meta.hostid="261" meta.entityid="US dollar">US dollar</keyword> in morning trade on Tuesday, mirroring the rebound in the domestic equity market, even as aggressive dollar bids from foreign banks exerted pressure on the local unit. <keyword id="20024982" type="General" weightage="20" keywordseo="forex-traders" source="keywords">Forex traders</keyword> said risk aversion in the <keyword id="19908188" type="General" weightage="20" keywordseo="global-markets" source="keywords">global markets</keyword>, escalation of geopolitical tensions in the Middle East and outflows by foreign investors further dented investor sentiments. At the interbank foreign exchange market, the local unit opened at 83.92 and then touched an early high of 83.84, registering a 25 paise gain from its all-time closing low of 84.09 against the American currency. On Monday, the rupee slumped 37 paise to settle at an all-time low of 84.09 against the US dollar. "The rupee is being sold off in good times and bad times indicating the demand for US dollar as foreign portfolio investors exit the Indian equity market on high valuation concerns," said Anil Kumar Bhansali Head of Treasury and Executive Director Finrex Treasury Advisors LLP Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, gained 0.16 per cent to 102.85 points. Brent crude, the global oil benchmark, was trading at USD 77.15 per barrel in futures trade, on fears of spreading Middle East conflict that could hit supplies outweighing fears of a possible US recession that could hurt demand in the world's biggest oil consumer. Moreover, Israel and US are bracing for a significant escalation after Iran and Hamas pledged to retaliate against Israel for killings last week of a Hamas Leader, traders said. In the domestic equity market, the 30-share BSE Sensex rebounded 903.63 points, or 1.15 per cent, to 79,663.03 points, while the Nifty increased by 270.50 points, or 1.12 per cent, to 24,326.10 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 10,073.75 crore, according to exchange data.

Rupee recovers from all-time low level, opens 25 paise higher at 83.84 against US dollar

Earlier this week, the Indian <keyword id="6355302" type="General" weightage="100" keywordseo="rupee" source="Orion">rupee</keyword> nosedived 51 paise, <a href="https://www.businessinsider.in/finance/news/rupee-hits-all-time-low-of-77-42-against-us-dollar/articleshow/91439581.cms">hitting an all-time low</a> of ₹77.41 against the US dollar. <div type="image" title="Rupee hit a lifetime low of 77.41 earlier this week" msid="91525914" hostid="261" caption="&amp;lt;p&amp;gt;Rupee hit a lifetime low of 77.41 earlier this week&amp;lt;/p&amp;gt;"></div> Earlier last week, the Indian rupee had appreciated eight paise after India’s central bank, the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword>, <a href="https://www.businessinsider.in/finance/banks/news/rbi-hikes-repo-rate-by-40-basis-points-to-4-4-as-it-seeks-to-reign-in-inflation/articleshow/91311941.cms">increased interest rates</a> by 40 basis points on May 04, only to tumble further below this week. 100 basis points make one percent. The rupee has been staggering since the beginning of the year. <div type="image" title="Rupee depreciation in last one month" msid="91525962" hostid="261" caption="&amp;lt;p&amp;gt;Rupee depreciation in last one month&amp;lt;/p&amp;gt;"></div> This depreciating rupee, which is a fall in the value of a currency in terms of its exchange rate versus other currencies, is likely to have a direct impact on your daily expenditure. Imports now more expensive, while exports are cheaper With a small dip in the <keyword id="50739" type="General" weightage="20" keywordseo="indian-currency" source="Orion">Indian currency</keyword>, the Indian government has to pay a little extra for the same goods it was importing earlier. So, importing items get more expensive. Oil imports will get costlier, which has a direct impact on prices of many other things – anything that needs to be transported will (if it hasn’t, already) now see an increase in its prices. India currently imports <a href="https://www.businessinsider.in/finance/news/crude-oil-surges-significantly-to-109-per-barrel-as-countries-look-for-options-other-than-russia/articleshow/89936843.cms">85% of its oil demand </a>and the rise in crude oil prices directly increases import bill and expenses. Your investment portfolio is likely to be affected If foreign investors pull out of Indian equities, Indian currency depreciates, leading to a sharp decline in equity markets. Foreign investors have already <a href="https://www.businessinsider.in/stock-market/news/foreign-investors-have-pulled-out-1-5-lakh-crore-from-the-indian-markets-in-2022-so-far-heres-why/articleshow/91485411.cms">pulled out over ₹6,400 crore</a> from the Indian equity markets in the first four trading sessions of May when the Reserve Bank of India (RBI) and <a href="https://www.theguardian.com/business/federal-reserve">US Federal Reserve</a> raised interest rates. Given the headwinds in terms of elevated crude oil prices, inflation, and monetary tightening (also known as Quantitative Tightening), market volatility is expected to remain high as foreign investors could continue to withdraw funds. Foreign education could get more expensive If you are planning to study abroad, you might have to restructure your budget. You will have to shell out more rupees for every dollar you spend. Simply put, you will have to spend over 21% more in terms of rupee to buy the same number of dollars. If you budgeted ₹20 lakh for your education abroad, you will now have to increase it to ₹24.2 lakh. <div type="image" title="Foreign education will get more expensive" msid="91525979" hostid="261" caption="&amp;lt;p&amp;gt;Foreign education will get more expensive&amp;lt;/p&amp;gt;"></div> International travel now more expensive During summer, the travel sentiment is high among consumers. As the rupee loses value against the US dollar, your plans to travel abroad will burn a deeper hole in your pocket – like everything, paying for your purchases in foreign currency, moreso the US dollar, is now more expensive than ever before. A weaker rupee results in expensive imports, and contributes to inflation <a href="https://www.livemint.com/economy/indias-inflation-likely-accelerated-to-18-month-high-in-april-poll-11652181052993.html">India's retail inflation</a> surged to an 18-month high in April, largely driven by rising fuel and food prices and staying well above the RBI's upper tolerance limit for a fourth consecutive month, a Reuters poll found. As the rupee weakens against the dollar and import prices hike, companies may not be able to absorb this increase in cost and may pass it on to consumers. Increase in your home loan EMIs and more To keep inflation in check, RBI resorts to increasing its interest rates. If the RBI expects that inflation will rise beyond its tolerance limit, it hikes the rate at which banks borrow money from the RBI, which is also known as the repo rate. When repo rate increases, the cost of borrowing for banks also increases, which is passed to their account holders by increasing the interest rate on loans and deposit rates. Some banks have already announced an increase in interest rates on home loans – HDFC has <a href="https://economictimes.indiatimes.com/wealth/borrow/hdfc-hikes-home-loan-interest-rates-this-is-how-much-your-emi-will-go-up-by/articleshow/91434723.cms">increased</a> its interest rates for retail home loans by 30 basis points, with the new rates now in the range of 7-7.45%. But what has caused the decline of the Indian rupee? The value of any currency depends on its demand in the market. If the demand increases, its value goes up, which is known as appreciation. And if the demand for a currency declines, its value depreciates. If more foreign investors invest in Indian businesses and projects, the demand for Indian currency goes up. To be able to invest in India, foreign companies have to first convert their currency into Indian rupees. This increase in demand for the rupee strengthens its value against the US dollar. Recently, more and more overseas investors have pulled out a big chunk of their money from the Indian market, consequently <a href="https://www.businessinsider.in/stock-market/news/the-stock-markets-are-going-through-a-short-term-correction-and-now-might-be-a-good-time-to-invest-in-valued-stocks-say-analysts/articleshow/91369077.cms">affecting market sentiment</a> and currency’s decline. <div type="image" title="Foreign investors have pulled out `1.5 lk cr in 2022 so far" msid="91526033" hostid="261" caption="&amp;lt;p&amp;gt;Foreign investors have pulled out `1.5 lk cr in 2022 so far&amp;lt;/p&amp;gt;"></div> The <a href="https://www.theguardian.com/business/federal-reserve">Federal Reserve</a> has raised interest rates for the first time since 2018, as the US central bank struggles with soaring inflation, the impact of the war in Ukraine and the COVID crisis. As interest rates soar, investors start pulling money out of riskier investments like equities, commodities and foreign markets. The annual <a href="https://www.businessinsider.in/policy/economy/news/inflation-slowed-in-april-for-the-first-time-in-8-months/articleshow/91496347.cms">inflation rate in the US</a> is now at 8.3%, which also affects market sentiment. Here’s an <a href="https://youtu.be/eADkfR1PUeU">explainer by Stocktwits India </a>on how the global inflation rate affects India and what the government is doing to combat it. Therefore, foreign investors are exiting their investments in India, and shoring up their investments in the relatively safer markets in the US. On the other hand, when Indian businesses and companies import foreign goods and products, such as crude oil, gold, consumer electronics, among other things, they convert their rupees into dollars, which is the global currency for international trades. If imports exceed exports, demand for the dollar goes up and the rupee weakens against it. Since India has been a <a href="https://www.indiatoday.in/news-analysis/story/current-account-surplus-india-net-exporter-explainer-1705281-2020-07-28">net importer</a>, we import more than we export, the rupee has gradually depreciated over time. <div type="image" title="Rupee vs Dollar in the last five years" msid="91526067" hostid="261" caption="&amp;lt;p&amp;gt;Rupee vs Dollar in the last five years&amp;lt;/p&amp;gt;"></div> As the upward trend of the graph shows, you had to shell out ₹64 in May 2017 for 1 US dollar. Today, you have to pay ₹77.26 in exchange for a dollar. To deal with this <keyword id="688216" type="General" weightage="20" keywordseo="Rupee-depreciation" source="Orion">rupee depreciation</keyword>, you can reevaluate your investment portfolio and consider companies that have a substantial amount of foreign exchange earnings such as in sectors like pharma, FMCG, and IT. Here's a short video <div type="image" title="Here&amp;#39;s what happens when the Rupee depreciates" msid="91526220" hostid="261" caption="&amp;lt;p&amp;gt;Here&amp;#39;s what happens when the Rupee depreciates&amp;lt;/p&amp;gt;"></div> Disclaimer: This is not investment advice, it is for informational purposes only.

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Foreign investors are pulling money out of India and that's hurting the rupee

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Rupee plunges 45 paise to 74.20 against US dollar in early trade

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Rupee gains 26 paise to 82.62 against US dollar

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Bullish domestic markets push up Rupee to 83.37/USD

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Rupee rises 2 paise to 83.71 against US dollar in early trade, following a marginal dip in the dollar

PTI

Rupee recovers from all-time low level, opens 25 paise higher at 83.84 against US dollar

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SIMPLY PUT: Why is the rupee falling and how it affects your food, education, healthcare and other expenses

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