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The Indian rupee opened on a cautious note and fell 11 paise to 71.33 against the US dollar in early trade on Thursday amid sustained rise in crude oil prices and foreign fund outflows.
 Forex traders said the rupee is trading in a narrow range amid lack of directional cues from the global market.
 At the interbank foreign exchange, the rupee opened at 71.27 then fell to 71.33 against the dollar, showing a decline of 11 paise over its previous closing.
 The Indian rupee on Wednesday had closed at 71.22 against the dollar.
 Traders said rise in crude oil prices weighed on the domestic unit, while sustained positive opening in domestic equities supported the rupee and restricted the fall.
 Meanwhile, brent crude futures, the global oil benchmark, rose by 0.30 per cent to USD 66.20 per barrel.
 Foreign institutional investors (FIIs) remained net sellers in the capital markets, as they sold shares worth Rs 58.87 crore on Wednesday, as per provisional data.
 Domestic bourses opened on a positive note on Thursday with benchmark indices Sensex trading 90.10 points up at 41,396.12 and Nifty higher by 34 points at 12,216.50.
 The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.11 to 96.54.
 The 10-year government bond yield was at 6.50 in morning trade. DRR DRR

Rupee slips to 71.33 against US dollar amid rising oil prices and foreign fund outflows

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> depreciated by 10 paise to 82.75 against the US dollar in early trade on Thursday amid negative trends in the domestic as well as global equity markets and continued outflow of foreign funds. At the interbank foreign exchange, the domestic unit opened weaker at 82.77 against the US dollar and traded in the range of 82.80 and 82.71. Later, the domestic unit was trading at 82.75 against the greenback, registering a fall of 10 paise. On Wednesday, the rupee settled at 82.65 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.10 per cent lower at 104.54. Global oil benchmark Brent crude futures rose 0.61 per cent to USD 74.14 per barrel. The 30-share BSE Sensex was trading 116.67 points or 0.20 per cent lower at 57,439.23 points while the broader NSE Nifty was down 34 points or 0.2 per cent at 16,938.15 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 1,271.25 crore, according to exchange data. Analysts said the failure of two banks in the US and crisis at Swiss banking major Credit Suisse have adversely impacted market sentiments. On the domestic front, India's exports contracted in February for the third consecutive month, falling 8.8 per cent to USD 33.88 billion against USD 37.15 billion in the same month last year. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/gail-vedanta-indian-oil-among-stocks-to-watch/articleshow/98681948.cms">Sensex, Nifty50 edge up led by gains in FMCG, oil &amp; gas stocks</a> <a href="https://www.businessinsider.in/finance/news/indias-ma-activity-gets-off-a-slow-start-in-2023-refinitiv/articleshow/98665862.cms">India’s M&amp;A activity gets off to a slow start in 2023: Refinitiv</a> <a href="https://www.businessinsider.in/stock-market/news/analysts-remain-optimistic-about-indias-top-100-stocks-most-popular-5-stocks-deliver-double-digit-returns/articleshow/98648739.cms">Analysts remain optimistic about India’s top 100 stocks: Most popular 5 stocks deliver double digit returns</a>

Rupee falls 10 paise to 82.75 against US dollar in early trade

Mumbai, The rupee recovered from its all-time low levels and appreciated by 5 paise to 83.05 against the US dollar in early trade on Monday tracking a positive trend in domestic equities. Forex traders said the rupee is likely to trade with a negative bias on risk aversion in global markets and a rising US dollar. At the interbank foreign exchange, the domestic unit opened at 83.10, then touched a high of 83.05 against the American currency, registering a rise of 5 paise over its last close. On Friday, the rupee edged lower by 1 paisa to settle at an all-time low of 83.10 against the US dollar, weighed down by a negative trend in domestic equities, and foreign fund outflows. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.02 per cent to 103.39. Dollar witnessed its longest winning streak in the last 15 months following safe haven buying on the back of uncertainty in China and better-than-expected economic numbers from the US, said Gaurang Somaiya, forex and bullion analyst, <keyword id="248720" type="General" weightage="50" keywordseo="motilal-oswal-financial" source="Orion">Motilal Oswal Financial</keyword> services. Rising uncertainty over economic recovery in China is leading to weakness in the Chinese Yuan and thereby weighing on the rupee, Somaiya added. Most investors will be taking cues from the BRICS summit and the Jackson Hole Symposium. "We expect the USDINR(Spot) to trade sideways and quote in the range of 82.80 and 83.30," Somaiya said. Brent crude futures, the global oil benchmark, rose 0.73 per cent to <keyword id="54123" type="General" weightage="80" keywordseo="usd" source="Orion">USD</keyword> 85.42 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 117.43 points or 0.18 per cent higher at 65,066.09. The broader NSE Nifty advanced 26.40 points or 0.14 per cent to 19,336.55. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday as they offloaded shares worth Rs 266.98 crore, according to exchange data. Meanwhile, India's foreign exchange reserves jumped USD 708 million to USD 602.161 billion for the week ended August 11, the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (RBI) said on Friday. This is the first increase in the kitty after declining for three consecutive weeks. In the previous week, the overall reserves had declined USD 2.417 billion to USD 601.453 billion.

Rupee rises 5 paise to 83.05/USD tracking domestic equities

Mumbai, The <keyword id="6355302" type="General" weightage="100" keywordseo="rupee" source="Orion">rupee</keyword> edged lower by 1 paisa to settle at an all-time low of 83.10 (provisional) against the US dollar on Friday, weighed down by a negative trend in domestic equities and foreign fund outflows. Forex traders said the rupee is likely to trade with a negative bias on risk aversion in global markets and a rising US dollar. At the interbank foreign exchange, the domestic unit opened at 83.03 against the dollar and moved in a range of 83.02 to 83.13 in the day trade. It finally ended the day at 83.10 (provisional), registering a fall of 1 paisa from its previous close. On Thursday, the rupee settled lower by 1 paisa at a record low of 83.09 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.11 per cent to 103.46. Brent crude futures, the global oil benchmark, declined 0.32 per cent to USD 83.85 per barrel. The rupee declined marginally on weak domestic markets and foreign fund outflows, said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. However, the softness of the US dollar cushioned the downside. The US dollar eased as the Chinese central bank intervened after the Yuan fell to a 16-year low. The US dollar gained on Thursday as US weekly unemployment claims declined to 239,000 as compared to 250,000 in the previous week showing a tight labour market. "We expect the rupee to trade with a negative bias on risk aversion in global markets and overall strength in the greenback. Recovery in crude oil prices may also weigh on Rupee. However, any intervention by the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> may support Rupee at lower levels. <keyword id="238223" type="General" weightage="50" keywordseo="usdinr" source="Orion">USDINR</keyword> spot price is expected to trade in a range of Rs 82.80 to Rs 83.50," Choudhary added. On the domestic equity market front, the 30-share BSE Sensex closed 202.36 points or 0.31 per cent lower at 64,948.66 points. The broader NSE Nifty declined 55.10 points or 0.28 per cent to close at 19,310.15 points. Foreign institutional investors (FIIs) were net sellers in the capital markets on Thursday as they offloaded shares worth Rs 1,510.86 crore, according to exchange data.

Rupee falls 1 paisa to close at all-time low yet again

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

Mumbai, The rupee consolidated in a narrow range and settled for the day higher by 1 paisa at 82.63 against the US dollar, as the support from positive domestic equities was negated by rising American currency and recovery in crude oil prices. Forex traders said the Indian rupee witnessed modest gains on Monday on positive domestic equities. However, rising US dollars and recovery in crude oil prices capped sharp gains. At the interbank foreign exchange, the domestic unit opened at 82.58 and finally settled for the day at 82.63 against the American currency. During the day, the rupee witnessed an intra-day high of 82.52 and a low of 82.65 against the greenback. On Friday, the rupee declined by 8 paise to settle at 82.64 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent higher at 104.07. The US dollar gained on somewhat hawkish comments from the Fed Chair <keyword id="1727754" type="General" weightage="80" keywordseo="jerome-powell" source="Orion">Jerome Powell</keyword> at the Jackson Hole Symposium, said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. Brent crude futures, the global oil benchmark, rose 0.04 per cent to USD 84.51 per barrel. "We expect the rupee to trade with a slight negative bias on the strong dollar and recovery in crude oil prices. Selling pressure from FIIs may also weigh on rupee," Choudhary said. However, a positive tone in domestic markets and a rise in risk appetite may support the domestic currency at lower levels. "Any intervention by the RBI may also support rupee. Investors may remain cautious ahead of jobs data from US and India's manufacturing PMI and GDP data later this week. USDINR spot price is expected to trade in a range of Rs 82.30 to Rs 83," Choudhary added. On the domestic equity market front, the BSE Sensex closed 110.09 points or 0.17 per cent higher at 64,996.60. The broader NSE Nifty advanced 40.25 points or 0.21 per cent to 19,306.05. Foreign Institutional Investors (FIIs) were net sellers in capital markets on Friday as they offloaded shares worth Rs 4,638.21 crore, according to exchange data. Meanwhile, India's foreign exchange reserves dropped by USD 7.273 billion to USD 594.888 billion in the week ended August 18, the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (RBI) said on Friday. In the previous week, the overall reserves had risen by USD 708 million to USD 602.161 billion.

Rupee ends flat as rising crude, strong dollar cap strong gains

New Delhi, The rupee appreciated 2 paise to 83.35 against the US dollar in early trade on Wednesday, amid a bullish trend in domestic equities and sustained foreign fund inflows. Forex traders said investors remained on the sidelines ahead of the <keyword id="6354335" type="General" weightage="80" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword>'s monetary policy decision later this week. At the interbank foreign exchange, the rupee opened 2 paise higher at 83.35 against the dollar as domestic benchmark indices touched new lifetime peaks. On Tuesday, the rupee settled at 83.37 against the dollar. "The RBI's policy, commencing on Tuesday with a decision due on Friday, will be closely monitored," CR Forex Advisors MD Amit Pabari said. The Reserve Bank is likely to maintain the status quo on the short-term interest rate in its monetary policy review. RBI Governor Shaktikanta Das-headed <keyword id="6375120" type="General" weightage="80" keywordseo="monetary-policy-committee" source="Orion">Monetary Policy Committee</keyword> (MPC) is scheduled to begin its three-day deliberations on December 6. Das would unveil the decision of the six-member MPC on December 8. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.11 per cent lower at 103.93. Brent crude futures, the global oil benchmark, advanced 0.12 per cent to USD 77.29 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 269.23 points or 0.39 per cent higher at 69,565.25 points. The broader <keyword id="372424" type="General" weightage="80" keywordseo="nse-nifty" source="Orion">NSE Nifty</keyword> jumped 79.50 points or 0.38 per cent to 20,934.60 points. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Tuesday as they purchased shares worth Rs 5,223.51 crore, according to exchange data.

Rupee rises 2 paise to 83.35 against US dollar in early trade

<ul><li>The rupee hit a new record low today, falling even further to ₹ 71.</li><li>While this bad news for local businesses and inflation in the economy, it may not be not bad for others. </li><li>Exports, tourism and <keyword id="6369957" type="UNKNOWN" weightage="20" keywordseo="remittances">remittances</keyword> may actually gain from this development. </li></ul>Teetering between the US sanctions on Iran and its own energy demand, the falling value of the rupee isn’t helping <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>’s economic situation. It hit a <a href="https://www.ndtv.com/business/inr-vs-usd-rupee-vs-dollar-currency-exchange-rate-rupee-hits-71-mark-for-first-time-ever-10-points-1908992">new low of ₹ 71</a> earlier today spelling bad news for local businesses. That being said, it may not be the worst news for everyone. Remittances, in particular, can greatly benefit from the dip in the rupee. Essentially, the value of money transfers from non-resident Indians (NRIs) employed outside the country will convert to more rupees than before. According to the World Bank, India is the <a href="http://www.worldbank.org/en/news/press-release/2018/04/23/record-high-remittances-to-low-and-middle-income-countries-in-2017">highest recipient</a> of remittances worldwide. And while one could say that exports would also benefit, most trade houses import as well as export, which should balance their accounts out. While they’ll be making an extra profit on selling goods to foreign countries, they would also be making a loss on the commodities that they’re buying, since they will now be more expensive. But, since it does make exports look more attractive, the <keyword id="841408" type="PERSON" weightage="20" keywordseo="falling-rupee">falling rupee</keyword> is an impetus for ‘Make in India’. One of the reasons that the scheme hasn’t quite attracted an incredible amount of <keyword id="44749" type="ORGANIZATION" weightage="20" keywordseo="Foreign-Direct-Investment">Foreign Direct Investment</keyword> (FDI) is the strong value of the rupee. This is despite India still being the preferred location for incoming investments, according to the country’s central bank, the <keyword id="6354335" type="ORGANIZATION" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI). Sectors that are <a href="https://www.livemint.com/Money/y53eDUIcRZrdTGzt74eUmO/Rupee-fall-seen-boosting-margins-of-IT-pharma-firms.html">primarily</a> going to gain from exports being more lucrative are information technology (IT) and pharmaceuticals that have been adversely affected by the protectionist policies in key markets like the US and the UK. In addition, the falling rupee could also be good news for the world’s <a href="https://www.wttc.org/economic-impact/country-analysis/country-reports/">seventh largest</a> tourism economy as well. It contributes to nearly 10% of India’s <keyword id="6354971" type="DEFINITION" weightage="20" keywordseo="gross-domestic-product">gross domestic product</keyword> (GDP) and ranks second globally in terms of employment generation. However, visitor exports and money spent by foreign travellers only accounts for 12% of the revenue generated from tourism. All said and done, the RBI has <a href="https://www.businessinsider.in/rbis-annual-report-paints-a-cloudy-picture-of-whats-next-for-the-indian-economy/articleshow/65600357.cms">speculated</a> that the country will have to be on-guard against inflation risks due its vulnerability to volatility in the financial markets. More than distort the economy, it has greater implications for India with a large amount of its population working in the informal sector. Rather than store their money in banks, they keep it in cash, which loses value day-on-day with the rupee falling.

The falling rupee isn’t bad news for everyone

The <keyword id="6355302" type="General" weightage="80" keywordseo="rupee" source="Orion">rupee</keyword> has been weakening against the US dollar since the beginning of the year and hit a lifetime low this week. While the <a href="https://www.businessinsider.in/finance/news/rupee-at-80-heres-how-a-falling-rupee-could-impact-indias-current-account-deficit/articleshow/92897064.cms">octogenarian currency</a> has disheartened many Indian students preparing to fly abroad, the Indian textile industry might be lining up bigger stacks of clothes to ship out abroad. <div type="image" title="Indian exports will benefit from Rupee depreciation" msid="93040000" hostid="261" caption="&amp;lt;p&amp;gt;Indian exports will benefit from Rupee depreciation&amp;lt;/p&amp;gt;"></div> As per the Ministry of Commerce and Industry, the<a href="https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1839164#:~:text=INDIA'S%20MERCHANDISE%20TRADE%3A%20Preliminary%20Data,32.49%20billion%20in%20June%202021."> export of readymade</a> garments (RMG) of all textiles contributed 3.80% to the country’s total merchandise export in April-June 2022. India’s RMG <keyword id="35090" type="General" weightage="20" keywordseo="Exports" source="Orion">exports</keyword> were worth $1449.3 million in June 2022, against export of $1003.3 million in June 2021, reporting growth of 44.67%. Overall, Indian merchants will earn more for the same orders as the rupee falls because they get more rupees for every dollar earned. India has achieved a monthly value of merchandise export in June 2022 amounting to $37.94 billion, an increase of 16.78% over %32.49 billion in June 2021. <div type="image" title="India’s top exports in 2022" msid="93040029" hostid="261" caption="&amp;lt;p&amp;gt;India&amp;#8217;s top exports in 2022 &amp;lt;/p&amp;gt;"></div> What does India export and how do exporters benefit from a stronger dollar? Apart from textile, engineering goods, petroleum products, gems and jewellery, chemicals were the top five commodities exported from India. These merchants would now gain a competitive advantage due to the sharp decline in the rupee. Simply put, Indian exporters will benefit from a stronger dollar as their income is in US dollars and expenditure is in rupees, which means they gain when exchanging the USD to INR to pay salaries and rents. <div type="image" title="Exports of Top 10 Major Commodity Groups in India in June 2022" msid="93040044" hostid="261" caption="&amp;lt;p&amp;gt;Exports of Top 10 Major Commodity Groups in India in June 2022&amp;lt;/p&amp;gt;"></div> The gap in India’s trade deficit might tighten afterall India runs a trade <a href="https://www.businessinsider.in/finance/news/why-and-which-countries-would-want-to-trade-with-india-in-rupees/articleshow/92856587.cms">deficit</a> – which means that it <keyword id="35091" type="General" weightage="20" keywordseo="imports" source="Orion">imports</keyword> more than it exports. India’s imports exceeded exports by over $87 billion (about ₹6.87 lakh crore) in 2021-22. The weakening of the rupee makes exports more viable but imports become more <keyword id="6359333" type="General" weightage="20" keywordseo="expensive" source="Orion">expensive</keyword> in rupees. Non essential imports will be discouraged to prevent a further outflow of dollars from the country. This, in turn, would improve the deficit that India runs. Typically India’s trade deficit is compensated by capital flows but with FPI selling, there is further pressure on the rupee. India is the world’s second-biggest consumer of gold. In a bid to reduce demand for the yellow metal, India raised its basic import duty on gold to 15% from 10.75% earlier this month. On top of that, RBI’s latest decision to<a href="https://www.businessinsider.in/finance/news/why-and-which-countries-would-want-to-trade-with-india-in-rupees/articleshow/92856587.cms"> allow international trade </a>in rupees is expected to reduce the pressure on India’s forex reserves. Bidding war on the docks? Indian merchants will have to prepare for a tough bidding war. They will have to compete with exporters of other countries like Philippines and Thailand, whose currencies have declined more than the rupee against the greenback and their exports have been on an upward trend. <div type="image" title="Indian exporters in a bidding war with currencies that have declined more than the Rupee against the Dollar" msid="93040088" hostid="261" caption="&amp;lt;p&amp;gt;Indian exporters in a bidding war with currencies that have declined more than the Rupee against the Dollar&amp;lt;/p&amp;gt;"></div> Neighbouring country China is the world’s <a href="https://worldpopulationreview.com/country-rankings/exports-by-country">largest </a>exporter. In 2021, China <a href="https://economictimes.indiatimes.com/news/international/business/chinas-trade-surplus-surges-to-record-676-4b-in-2021/articleshow/88890056.cms">exported </a>an estimated $3.3 trillion in 2021 trillion worth of goods and services, primarily electronic equipment and machinery such as broadcast equipment, computers, integrated circuits, office machine parts, and telephones. China also had a $73-billion trade <a href="https://www.businessinsider.in/finance/news/why-and-which-countries-would-want-to-trade-with-india-in-rupees/articleshow/92856587.cms">surplus </a>with India in 2021-22 – that is, Indian imports from China exceeded its <a href="https://www.businessinsider.in/finance/news/why-and-which-countries-would-want-to-trade-with-india-in-rupees/articleshow/92856587.cms">exports </a>to China by $73 billion. As the Chinese currency yuan also <a href="https://theprint.in/world/chinese-yuan-weakens-to-6-7071-against-dollar/1023534/">dropped </a>and given that the country enjoys a dominant position in international export markets, India would see increased pricing competition. With a weaker rupee, foreign education could get more expensive While rupee’s value deprecation is good news for merchants, India’s students who are planning to study abroad might have to restructure your budget. Students will have to shell out more rupees for every dollar they 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. International travel now more expensive After the lockdown, the travel sentiment has been 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, more so the US dollar, is now more expensive than ever before. Here's a short video <div type="image" title="The falling Rupee and its impact on travel and foreign education" msid="93040134" hostid="261" caption="&amp;lt;p&amp;gt;The falling Rupee and its impact on travel and foreign education&amp;lt;/p&amp;gt;"></div>

SIMPLY PUT: A weak rupee will be a bonanza for India’s exporters

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.

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

As predicted earlier, the Indian <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> on Tuesday crossed Rs 80 for a US dollar. The fall in rupee's value is owing to multiple factors like Russia-Ukraine war, outflow of foreign institutional investors and others, said experts. Experts also said though the rupee has depreciated against the dollar, it has appreciated against other currencies. Global risk aversion has led to rupee depreciation against the dollar; however, the decline is pretty tolerable. Even though rupee touched the psychological mark of 80 per dollar, rupee has indeed appreciated against the majority of leading currencies like Euro, GBP and <keyword id="76265" type="General" weightage="80" keywordseo="yen" source="Orion">Yen</keyword>, said Aishvarya <keyword id="14497106" type="General" weightage="80" keywordseo="dadheech" source="Orion">Dadheech</keyword>, Fund Manager, Ambit Asset Management. Dadheech said, forex reserve remains at healthy levels and recent measures by the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (<keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword>) will help overcome dollar shortage. Fundamentals of Indian rupee are intact and the recent correction (due to global risk off sentiment) is an overreaction. "We believe INR (Indian Rupee) will remain range bound and foreign investors will see this as an opportunity, and will be tempted to lock in at these levels," Dadheech added. "The major reasons for the weakening of Indian Rupee against the US Dollar are global factors that include Russia-Ukraine war, rising crude oil prices, tightening of global liquidity and significant FII outflows," <keyword id="26593" type="General" weightage="80" keywordseo="arun-kumar" source="Orion">Arun Kumar</keyword>, Head of Research, FundsIndia.As predicted earlier, the Indian rupee on Tuesday crossed Rs 80 for a US dollar. The fall in rupee's value is owing to multiple factors like Russia-Ukraine war, outflow of foreign institutional investors and others, said experts. Experts also said though the rupee has depreciated against the dollar, it has appreciated against other currencies. Global risk aversion has led to rupee depreciation against the dollar; however, the decline is pretty tolerable. Even though rupee touched the psychological mark of 80 per dollar, rupee has indeed appreciated against the majority of leading currencies like Euro, GBP and Yen, said Aishvarya Dadheech, Fund Manager, Ambit Asset Management. Dadheech said, forex reserve remains at healthy levels and recent measures by the Reserve Bank of India (RBI) will help overcome dollar shortage. Fundamentals of Indian rupee are intact and the recent correction (due to global risk off sentiment) is an overreaction. "We believe INR (Indian Rupee) will remain range bound and foreign investors will see this as an opportunity, and will be tempted to lock in at these levels," Dadheech added. "The major reasons for the weakening of Indian Rupee against the US Dollar are global factors that include Russia-Ukraine war, rising crude oil prices, tightening of global liquidity and significant FII outflows," Arun Kumar, Head of Research, FundsIndia.

You Searched For "india rupee value" and got 11 results

Rupee slips to 71.33 against US dollar amid rising oil prices and foreign fund outflows

PTI

Rupee falls 10 paise to 82.75 against US dollar in early trade

PTI

Rupee rises 5 paise to 83.05/USD tracking domestic equities

PTI

Rupee falls 1 paisa to close at all-time low yet again

PTI

Bullish domestic markets push up Rupee to 83.37/USD

PTI

Rupee ends flat as rising crude, strong dollar cap strong gains

PTI

Rupee rises 2 paise to 83.35 against US dollar in early trade

PTI

The falling rupee isn’t bad news for everyone

Prabhjote Gill

SIMPLY PUT: A weak rupee will be a bonanza for India’s exporters

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

Rupee falls below 80/$ but it appreciated against Euro and others, point out experts

IANS

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