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The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> depreciated 5 <keyword id="20045456" type="General" weightage="20" keywordseo="paise" source="keywords">paise</keyword> to 83.43 against the <keyword id="19899478" type="General" weightage="20" keywordseo="US" source="keywords">US</keyword> <keyword id="19904292" type="General" weightage="20" keywordseo="dollar" source="keywords">dollar</keyword> in early trade on Monday amid a strong American <keyword id="20256153" type="General" weightage="20" keywordseo="currency" source="keywords">currency</keyword> overseas and withdrawal of foreign funds from domestic equity markets. However, positive sentiment in the domestic equity markets and retreating crude oil prices in international markets supported the Indian currency at lower level, forex traders said. At the interbank foreign exchange, the domestic unit opened weak at 83.39 against the greenback and then slipped further to 83.43, registering a loss of 5 paise compared to its previous closing level. On Friday, the rupee had declined 10 paise to close at 83.38 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, increased 0.05 per cent to 105.86. Analysts attributed the strengthening dollar to the positive global trends amid firm growth in the world's largest economy, which renewed hope for a reduction in the interest rate by the US Federal Reserve. Brent crude futures, the global oil benchmark, declined 0.92 per cent to USD 88.68 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 271.80 points or 0.37 per cent higher at 74,001.96. The broader NSE Nifty advanced 72.45 points or 0.32 per cent to 22,492.40. Foreign institutional investors (FIIs) were net sellers in the capital markets on Friday as they offloaded shares worth Rs 3,408.88 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank">Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh</a><a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank">Realme C65 5G with 5,000mAh battery, 120Hz display launched starting at ₹10,499</a>

Rupee declines 5 paise to 83.43 against US dollar in early trade

The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> was trading in a narrow range against the American currency in early trade on Tuesday and appreciated 4 <keyword id="20045456" type="General" weightage="20" keywordseo="paise" source="keywords">paise</keyword> to 83.48 against the <keyword id="19899478" type="General" weightage="20" keywordseo="US" source="keywords">US</keyword> <keyword id="19904292" type="General" weightage="20" keywordseo="dollar" source="keywords">dollar</keyword> amid a positive trend in domestic equities. <keyword id="19950258" type="General" weightage="20" keywordseo="forex" source="keywords">Forex</keyword> traders said the strength of the American currency in the overseas market, elevated crude oil prices and foreign fund outflows weighed on the local unit and restricted the up move. At the interbank foreign exchange market, the local unit opened at 83.48 against the greenback, registering a rise of 4 paise from its previous close. On Monday, the rupee settled 7 paise lower at 83.52 against the US dollar. "India's enduringly strong economic fundamentals, coupled with its substantial foreign exchange reserves acting as a safety net, equip the Reserve Bank of India to effectively mitigate any downward pressure on the rupee," CR Forex Advisors MD Amit Pabari said. Moreover, substantial foreign direct investment (FDI) inflows are anticipated. The Adani Group is eyeing a USD 600 million raise via offshore loans, while Belstar Microfinance plans to raise USD 150 million through an IPO. "Considering these factors, the downside of the rupee is capped at 83.60. While it is expected to appreciate around 83 to 83.20 in the near-term, with medium-term appreciation ranging between 82.80 to 82.50 levels," Pabari said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 105.18, higher by 0.13 per cent. Brent crude futures, the global oil benchmark, rose 0.29 per cent to USD 83.57 per barrel. On the domestic equity market front, the 30-share BSE Sensex rose 19.43 points or 0.03 per cent to 73,914.97 in early trade. The NSE Nifty advanced 19.90 points or 0.09 per cent to 22,462.60 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 2,168.75 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/indegene-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109888922.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/indegene-ipo-company-details-to-risk-factors-all-you-need-to-know/slidelist/109888922.cms" target="_blank">Indegene IPO: Company details to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/worldwide-tablet-shipments-grow-in-q1-2024-after-two-years-of-decline/articleshow/109876390.cms" target="_blank">Worldwide tablet shipments grow in Q1 2024 after two years of decline</a><a href="https://www.businessinsider.in/tech/news/asus-zenbook-duo-review/articleshow/109875023.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/asus-zenbook-duo-review/articleshow/109875023.cms" target="_blank">Asus ZenBook Duo review – an excellent dual-screen laptop for multitaskers</a>

Rupee rises 4 paise to 83.48 against US dollar in early trade

The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> appreciated 7 <keyword id="20045456" type="General" weightage="20" keywordseo="paise" source="keywords">paise</keyword> to 83.48 against the US <keyword id="19904292" type="General" weightage="20" keywordseo="dollar" source="keywords">dollar</keyword> in early trade on Tuesday amid a fresh inflow of foreign capital and positive sentiment in the domestic equity markets. <keyword id="19950258" type="General" weightage="20" keywordseo="forex" source="keywords">Forex</keyword> traders said the strengthening American currency weighed on the local unit though it found support due to downward movement in crude oil prices overseas. At the interbank foreign exchange <keyword id="19913381" type="General" weightage="20" keywordseo="market" source="keywords">market</keyword>, the local unit opened at 83.52 and gained further to 83.48 against the greenback, registering a rise of 7 paise from its previous close. On Friday, the rupee settled 1 paisa lower at 83.55 against the US dollar. Forex markets were closed on Monday on account of Bakri Id. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 105.01, higher by 0.07 per cent. Brent crude futures, the global oil benchmark, declined 0.13 per cent to USD 84.14 per barrel. On the domestic equity market, the 30-share BSE Sensex rose 175.72 points, or 0.23 per cent, to 77,168.49 points. The broader NSE Nifty climbed 45.15 points, or 0.19 per cent, to 23,510.75 points. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday, as they purchased shares worth Rs 2,175.86 crore, according to exchange data. Positive investor sentiment was attributed to strong domestic macroeconomic data which showed India's merchandise exports in May 2024 rose 9 per cent to USD 38.13 billion. The trade deficit, or the gap between imports and exports, during the month under review stood at USD 23.78 billion. Also, the wholesale inflation rose for the third consecutive month in May at 2.61 per cent on account of the rise in prices of food articles, especially vegetables, and manufactured items. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/hyundai-motor-india-files-draft-papers-with-sebi-for-indias-biggest-ipo/articleshow/111014559.cms" target="_blank">Hyundai Motor India files draft papers with SEBI for India’s biggest IPO</a><a href="https://www.businessinsider.in/tech/apps/news/samsung-wallet-gets-ticket-booking-services-as-it-partners-with-paytm/articleshow/111000073.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/apps/news/samsung-wallet-gets-ticket-booking-services-as-it-partners-with-paytm/articleshow/111000073.cms" target="_blank">Samsung Wallet gets ticket booking services as it partners with Paytm</a><a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/tata-group-reportedly-looking-to-acquire-a-majority-stake-in-vivo-india/articleshow/110987274.cms" target="_blank">Tata Group reportedly looking to acquire a majority stake in Vivo India</a>

Rupee rises 7 paise to 83.48 against US dollar in early trade

The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> appreciated 8 <keyword id="20045456" type="General" weightage="20" keywordseo="paise" source="keywords">paise</keyword> to 83.37 against the <keyword id="19899478" type="General" weightage="20" keywordseo="US" source="keywords">US</keyword> <keyword id="19904292" type="General" weightage="20" keywordseo="dollar" source="keywords">dollar</keyword> in early trade on Friday, supported by a positive trend in domestic equities and foreign fund inflows. Forex traders said the strength of the American currency in the overseas <keyword id="19913381" type="General" weightage="20" keywordseo="market" source="keywords">market</keyword> and elevated crude oil prices weighed on the local unit and restricted the appreciation bias. At the interbank foreign exchange market, the local unit opened at 83.42 and gained further ground to trade at 83.37 against the greenback in initial deals, registering an increase of 8 paise from its previous closing level. On Thursday, the rupee appreciated 12 paise to settle at 83.45 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.15 per cent at 106.06, ahead of the crucial US inflation reading this evening. Brent crude futures, the global oil benchmark, were trading 0.47 per cent higher at USD 86.80 per barrel, as fears of supply disruptions from Russia and the Middle East on continued war offset slowing demand. On Thursday, there were good inflows taking the rupee higher from Wednesday's closing level, said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. "Inflows are expected on Friday as well, it being the month-end and quarter-end and could take the rupee higher towards 83.35. Exporters may wait to sell while importers may buy the dips," Bhansali added. In the domestic equity market, the 30-share BSE Sensex advanced 347.48 points, or 0.44 per cent, to 79,590.66 points. The broader NSE Nifty rose 114.55 points, or 114.55 per cent, to 24,159.05 points. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Thursday, as they purchased shares worth Rs 7,658.77 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/allied-blenders-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111317150.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/allied-blenders-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111317150.cms" target="_blank">Allied Blenders IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a><a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-unpacked-scheduled-for-july-10-heres-what-to-expect/articleshow/111286592.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-unpacked-scheduled-for-july-10-heres-what-to-expect/articleshow/111286592.cms" target="_blank">Samsung Galaxy Unpacked scheduled for July 10 – here’s what to expect</a>

Rupee rises 8 paise to 83.37 against US dollar in early trade

The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> appreciated 4 <keyword id="20045456" type="General" weightage="20" keywordseo="paise" source="keywords">paise</keyword> to 83.62 against the US <keyword id="19904292" type="General" weightage="20" keywordseo="dollar" source="keywords">dollar</keyword> in early trade on Tuesday, ahead of the <keyword id="19936553" type="General" weightage="20" keywordseo="budget" source="keywords">Budget</keyword> presentation. <keyword id="19950258" type="General" weightage="20" keywordseo="forex" source="keywords">Forex</keyword> traders said the local currency gained strength as crude oil prices and the American currency retreated from their elevated levels. Moreover, foreign fund inflows also supported the rupee. At the interbank foreign exchange market, the local unit opened at 83.64, and touched an early high of 83.62, registering a gain of 4 paise from its previous close. On Monday, the rupee consolidated in a narrow range to settle 4 paise higher at 83.66 against the American currency. Forex traders said marketmen will closely watch the Union Budget for further cues on fiscal deficit, capital expenditure, tax revenue and GST among others. Finance Minister Nirmala Sitharaman will present her 7th straight Budget that would lay a roadmap for Viksit Bharat (developed India) by 2047, while giving a glimpse of 10 years' performance. The Indian rupee has been down as dollar buying from the Reserve Bank of India (RBI), the government of India, defence, oil companies and foreign investors has kept dollar well bid. "All in-flows seem to be getting absorbed by the RBI. Expect rupee to be range-bound on Tuesday," 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, was at 104.20, lower by 0.10 per cent. Brent crude futures, the global oil benchmark, rose 0.05 per cent to USD 82.44 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 11.54 points, or 0.01 per cent higher at 80,513.62 points. The broader NSE Nifty was down 7 points, or 0.03 per cent, to 24,502.25 points. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Monday as they purchased shares worth Rs 3,444.06 crore, according to exchange data. On the macroeconomic front, the government's pre-budget Economic Survey on Monday set a conservative growth forecast of 6.5 to 7 per cent for the current fiscal. SEE ALSO:<a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/union-budget-2024-live-updates-finance-minister-nirmala-sitharaman-key-announcements-23-july/liveblog/111942008.cms" target="_blank">Union Budget 2024 Live Updates: Finance Minister Nirmala Sitharaman to present her record seventh consecutive Budget today</a><a href="https://www.businessinsider.in/budget/news/heres-a-quick-overview-of-pm-modi-3-0-governments-first-budget-to-be-presented-by-fm-nirmala-sitharaman-today/articleshow/111944393.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/heres-a-quick-overview-of-pm-modi-3-0-governments-first-budget-to-be-presented-by-fm-nirmala-sitharaman-today/articleshow/111944393.cms" target="_blank">Here's a quick overview of PM Modi 3.0 government's first budget, to be presented by FM Nirmala Sitharaman today</a><a href="https://www.businessinsider.in/budget/news/economic-survey-2024-industries-grow-by-9-5-fueling-economic-growth-to-8-2/articleshow/111923191.cms" target="_blank"></a> <a href="https://www.businessinsider.in/budget/news/economic-survey-2024-industries-grow-by-9-5-fueling-economic-growth-to-8-2/articleshow/111923191.cms" target="_blank">Economic Survey 2024 – industries grow by 9.5%, fueling economic growth to 8.2%</a>

Rupee rises 4 paise to 83.62 against US dollar in early trade

New Delhi, Feb 1 () For every rupee in the government coffer, 64 paise will come from direct and indirect taxes, while states' share of taxes and duties is the single-largest expense head accounting for 20 per cent of the total spending, Budget documents showed.
 According to the Union Budget 2020-21 presented in Parliament by Finance Minister Nirmala Sitharaman on Saturday, goods and services tax collections will contribute 18 paise in every rupee revenue.
 Corporation tax will contribute 18 paise to each rupee earned.
 The collection from borrowings and other liabilities will be 20 paise, while income tax will yield 17 paise to every rupee collection.
 The government intends to earn 10 paise from non-tax revenue like disinvestment, 7 paise from Union excise duty, 4 paise from customs duty and 6 paise from non-debt capital receipts out of every rupee collection.
 On the expenditure side, the biggest outlay component is the states' share of taxes and duties at 20 paise, followed by interest payment at 18 paise.
 Allocation for the defence has been reduced to 8 paise from 9 paise.
 Expenditure on central sector schemes will be 13 paise, while the allocation for centrally-sponsored schemes will be 9 paise.
 The expenditure on the Finance Commission and other transfers is pegged at 10 paise. Subsidies and pension would account for 6 paise and 6 paise, respectively, in each rupee spending.
 The government will spend 10 paise on other expenditure. BKS HRS

For every rupee in govt kitty, 64 paise come from taxes

The <keyword id="50739" type="General" weightage="20" keywordseo="indian-currency" source="Orion">Indian currency</keyword> <keyword id="6355302" type="General" weightage="100" keywordseo="rupee" source="Orion">rupee</keyword> touched yet another all-time low against the US dollar earlier this morning. The rupee fell 14 <keyword id="56242" type="General" weightage="20" keywordseo="paise" source="Orion">paise</keyword> to 77.69 per US dollar. Money market participants are currently closely watching the domestic share market for clues to fund flows. An expectation of tightening monetary policy rates in the US also weighed on the rupee as any rate hike in the advanced markets typically follows with fund outflows from the emerging markets in order to accumulate higher returns. Rupee has been under-pressure after the global central banks started the normalising policy and last week <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword> too started raising key interest rates. Besides, the rupee weakened on account of a surge in the global crude oil prices. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/politics/india/news/rising-dengue-cases-in-uttar-pradesh-put-health-officials-on-high-alert/articleshow/91611067.cms">Rising dengue cases in Uttar Pradesh put health officials on high alert</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/four-in-ten-american-users-thought-that-facebook-should-have-blocked-trump-sooner-reveal-leaked-internal-documents/articleshow/91610652.cms">Four in ten American users thought that Facebook should have blocked Trump sooner, reveal leaked internal documents</a>

Rupee touches yet another all-time low of 77.69 per USD as it falls 14 paise

The <keyword id="19949639" type="General" weightage="100" keywordseo="rupee" source="keywords">rupee</keyword> depreciated 9 <keyword id="20045456" type="General" weightage="20" keywordseo="paise" source="keywords">paise</keyword> to 83.27 against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> on Wednesday, tracking a negative trend in <keyword id="20024980" type="General" weightage="20" keywordseo="domestic-equities" source="keywords">domestic equities</keyword> and elevated crude oil prices. <keyword id="20024982" type="General" weightage="20" keywordseo="Forex-traders" source="keywords">Forex traders</keyword> said the local unit faced some resistance due to subdued sentiment in the domestic equity market and strengthening of the American currency in the overseas market. At the interbank foreign exchange market, the local unit opened at 83.22 and lost further ground to trade at 83.27 against the greenback, registering a loss of 9 paise from its previous closing level. On Tuesday, the rupee pared initial gains to settle 5 paise lower at 83.18 against the US dollar. "The <keyword id="91748" type="General" weightage="20" keywordseo="Indian-rupee" source="Orion">Indian rupee</keyword> was sold off on Tuesday as oil and probably the <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords">Reserve Bank of India</keyword> (RBI) bought dollars (about USD 1 billion) to keep rupee appreciation in control before the month-end and the Lok Sabha election results," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. The USD/INR pair is likely to trade with a narrow range of 83.15/25 during the day, Bhansali added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.72, higher by 0.11 per cent. Brent crude futures, the global oil benchmark, advanced 0.21 per cent to USD 84.40 per barrel. On the domestic equity market, the 30-share BSE Sensex was trading 227.75 points, or 0.30 per cent lower at 74,942.70 points. The broader NSE Nifty fell 74.30 points or 0.32 per cent to 22,813.85 points in initial trade. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Tuesday, as they purchased shares worth Rs 65.57 crore, according to exchange data.

Rupee falls 9 paise to 83.27 against US dollar in early trade

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> depreciated by <keyword id="16054544" type="General" weightage="20" keywordseo="4-paise-to-close-at-81-34" source="Orion">4 paise to close at 81.34</keyword> (provisional) against the <keyword id="6368584" type="General" weightage="20" keywordseo="us-dollar" source="Orion">US dollar</keyword> on Friday, tracking a rebound in crude oil prices and sustained foreign fund outflows. Forex traders said positive macroeconomic data and broad weakness in the American currency supported the rupee and contained the depreciation bias. At the interbank foreign exchange market, the rupee opened on a weak note at 81.32 against the greenback, but lost ground and fell to an intra-day low of 81.45. The domestic currency finally settled at 81.34, down 4 paise over its previous close of 81.30. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent lower at 102.18. Global oil benchmark Brent crude futures rose 0.42 per cent to USD 84.38 per barrel. According to Dilip Parmar, Research Analyst, HDFC Securities, the Indian rupee registered the biggest weekly gains after November 11 on the back of better-than-expected economic data and broad-based weakness in the dollar. Risk assets globally rallied and the safe-haven US dollar slumped after the US inflation readings came lower than expected, Parmar said. "The near-term outlook for USDINR remains bearish as long as it trades below 82.10 while on the downside, one can see 81.10 and 80.70," Parmar added. The 30-share BSE Sensex ended 303.15 points or 0.51 per cent higher at 60,261.18, while the broader NSE Nifty advanced 98.40 points or 0.55 per cent to 17,956.60. Foreign institutional investors (FIIs) turned net sellers in the capital markets on Thursday as they offloaded shares worth Rs 1,662.63 crore, according to exchange data. Meanwhile, on the domestic macroeconomic front, India's industrial production growth rose to a five-month high of 7.1 per cent in November on the back of better showing by manufacturing, according to official data released on Thursday. Retail inflation declined to a one-year low of 5.72 per cent in December 2022 mainly due to cooling of vegetable prices, according to the data. Experts believe, with the Consumer Price Index (CPI) remaining below 6 per cent for the second month in a row, the Reserve Bank has some room to pause interest rate hike which has been going on since May last year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/credit-expansion-will-taper-down-next-year-if-deposits-growth-doesnt-rise-axis-bank-md/articleshow/96967997.cms">Credit expansion will taper down next year if deposits growth doesn't rise: Axis Bank MD</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/13th-gen-intel-core-i9-13900ks-brings-unprecedented-speed-to-desktop-users/articleshow/96967459.cms">13th Gen Intel Core i9-13900KS brings unprecedented speed to desktop users</a>

Rupee falls 4 paise to close at 81.34 against US dollar

Mumbai, The rupee on Wednesday staged a recovery after two days of steep losses to end 6 paise higher at 83.22 (provisional) against the US dollar on positive cues from domestic equity markets. However, selling pressure from foreign equity investors amid elevated levels of American currency and surging crude oil prices weighed on the local unit, forex traders said. At the interbank foreign exchange, the domestic unit opened at 83.23 and traded in a narrow range of 83.18 to 83.24 against the greenback. It finally settled at 83.22 (provisional), registering a gain of 6 paise from its previous close. The rupee lost 34 paise in the past two sessions. It closed 15 paise lower at 83.28 against the dollar on Tuesday, a day after registering a decline of 19 paise. The downward movement of the rupee was attributed to a strengthening dollar amid a record rise in <keyword id="105472" type="General" weightage="80" keywordseo="us-treasury" source="Orion">US Treasury</keyword> yields. Also, the US dollar surged to a ten-month high level after a <keyword id="6355253" type="General" weightage="80" keywordseo="federal-reserve" source="Orion">Federal Reserve</keyword> policymaker hinted at a prolonged interest rate hike cycle. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.05 per cent to 106.28. Brent crude futures, the global oil benchmark, were trading 0.87 per cent higher at USD 94.78 per barrel. On the domestic equity market front, the BSE Sensex closed 173.22 points or 0.26 per cent higher at 66,118.69. The broader <keyword id="372424" type="General" weightage="80" keywordseo="nse-nifty" source="Orion">NSE Nifty</keyword> advanced 51.75 points or 0.26 per cent to settle at 19,716.45. <keyword id="6438315" type="General" weightage="80" keywordseo="foreign-institutional-investors" source="Orion">Foreign Institutional Investors</keyword> (FIIs) were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 693.47 crore, according to exchange data.

Rupee snaps two-day fall, recovers 6 paise against US dollar

The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> appreciated by 3 <keyword id="20045456" type="General" weightage="20" keywordseo="paise" source="keywords">paise</keyword> to 83.10 against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> on Tuesday, tracking a positive trend in domestic equities and weakness of the American currency in the overseas market. <keyword id="20024982" type="General" weightage="20" keywordseo="Forex-traders" source="keywords">Forex traders</keyword> rupee is likely to trade with a positive bias tracking a positive trend in domestic equities and expectations of fresh foreign inflows, however, a recovery in crude oil prices may cap a sharp upside. At the interbank foreign exchange market, the local unit opened at 83.14 and gained further ground to trade at 83.10 against the greenback, registering a gain of 3 paise from its previous closing level. On Monday, the rupee pared its initial gains and settled for the day lower by 3 paise at 83.13 against the US dollar. The opening for the rupee on Tuesday was flattish and the USD/INR pair should move within a narrow range of 83.00 to 83.20, said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. Importers need to keep buying in dips, as the <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords">Reserve Bank of India</keyword> (RBI) may possibly not allow a big move downside for the pair, Bhansali added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.42, lower by 0.12 per cent. Brent crude futures, the global oil benchmark, advanced 0.24 per cent to USD 83.30 per barrel. Going ahead, "the performance of Indian equities is expected to be a significant driver for the rupee, especially as investors position themselves ahead of the Lok Sabha election results scheduled for June 4," said CR Forex Advisors MD Amit Pabari. Given these factors, the rupee is expected to appreciate to around 82.80-82.50 in the near term, with medium-term projections ranging between 82.20 and 82.00, Pabari added. On the domestic equity market, the 30-share BSE Sensex was trading 124.2 points, or 0.16 per cent higher at 75,514.70 points. The broader NSE Nifty rose 47.95 points or 0.21 per cent to 22,980.40 points in initial trade. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 541.22 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/awfis-space-solutions-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/110467409.cms" target="_blank">Awfis Space Solutions IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f55-with-leather-back-launched-in-india-starting-at-26999/articleshow/110462026.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-f55-with-leather-back-launched-in-india-starting-at-26999/articleshow/110462026.cms" target="_blank">Samsung Galaxy F55 with leather back launched in India starting at ₹26,999</a><a href="https://www.businessinsider.in/tech/news/lenovo-loq-15-review/articleshow/110456546.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/lenovo-loq-15-review/articleshow/110456546.cms" target="_blank">Lenovo LOQ 15 review – gaming laptop with a sturdy design</a>

Rupee rises 3 paise to 83.10 against US dollar in early trade

The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> appreciated 3 <keyword id="20045456" type="General" weightage="20" keywordseo="paise" source="keywords">paise</keyword> to 83.42 against the US <keyword id="19904292" type="General" weightage="20" keywordseo="dollar" source="keywords">dollar</keyword> in early trade on Monday, supported by a firm trend in domestic <keyword id="19925781" type="General" weightage="20" keywordseo="equities" source="keywords">equities</keyword>. <keyword id="19950258" type="General" weightage="20" keywordseo="forex" source="keywords">Forex</keyword> traders said the strength of the American currency in the overseas market and foreign fund outflows weighed on the local unit and restricted the up move. At the interbank foreign exchange market, the local unit opened at 83.43 against the greenback. It later touched 83.42 in initial trade, registering a rise of 3 paise from its previous close. On Friday, the rupee inched up 1 paisa to settle at 83.45 against the US dollar. Indian rupee has not been able to make a dent against the dollar as FPIs and oil companies continue to buy US dollars and ensure it remains range bound, as RBI protects it from depreciation beyond 83.50, 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, was trading at 105.16, higher by 0.13 per cent. "The dollar was broadly steady as a soft US jobs report boosted traders that the US may still cut rates twice in 2024," Bhansali said. Brent crude futures, the global oil benchmark, rose 0.23 per cent to USD 83.15 per barrel. On the domestic equity market front, the 30-share <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords" meta.keywordsubtype="org" meta.entityname="BSE Sensex" meta.hostid="261" meta.entityid="BSE Sensex">BSE Sensex</keyword> climbed 434.04 points or 0.59 per cent to 74,312.19 in early trade. The NSE Nifty advanced 91.60 points or 0.41 per cent to 22,567.45 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday, as they offloaded shares worth Rs 2,391.98 crore, according to exchange data. Meanwhile, India's forex reserves dropped USD 2.412 billion to USD 637.922 billion as on April 26, in the third consecutive weekly decline in the reserves, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the overall reserves had declined USD 2.28 billion to USD 640.33 billion.\ SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-grow-by-6-in-q1-2024-samsung-retakes-the-top-spot/articleshow/109817280.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-shipments-grow-by-6-in-q1-2024-samsung-retakes-the-top-spot/articleshow/109817280.cms" target="_blank">Global smartphone shipments grow by 6% in Q1 2024, Samsung retakes the top spot</a><a href="https://www.businessinsider.in/business/auto/webstories/bajaj-pulsar-ns400z-launched-at-1-85-lakh-becomes-cheapest-400cc-bike-in-the-country/slidelist/109810458.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/bajaj-pulsar-ns400z-launched-at-1-85-lakh-becomes-cheapest-400cc-bike-in-the-country/slidelist/109810458.cms" target="_blank">Bajaj Pulsar NS400Z launched at ₹1.85 lakh, becomes cheapest 400cc bike in the country</a><a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-crater-in-april-2024-as-prices-increase-amid-reduced-subsidies/articleshow/109806054.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-crater-in-april-2024-as-prices-increase-amid-reduced-subsidies/articleshow/109806054.cms" target="_blank">Electric two-wheeler sales crater in April 2024 as prices increase amid reduced subsidies</a>

Rupee rises 3 paise to 83.42 against US dollar in early trade

Mumbai: The rupee fell sharply by 15 paise against the US dollar to 83.44 in early trade on Wednesday amid muted trends in the domestic equity markets. However, a decline in the dollar index and a marginal fall in the Brent crude index prevented further losses in the domestic unit, according to experts. At the interbank foreign exchange, the local unit opened at 84.38 -- down 9 paise from its previous close -- and then slid further to 84.44, registering a decline of 15 paise from its previous close. On Tuesday, the rupee pared its intra-day losses to settle flat at 84.29 against the US dollar. "The <keyword id="24182640" type="General" weightage="20" keywordseo="Indian-banking-liquidity" source="keywords">Indian banking liquidity</keyword> fell into deficit as industry players paid Rs 1.6-1.8 lakh crore as GST payment. This was after two months that liquidity has fallen into a deficit as the RBI also intervened into forex markets to defend the rupee weighing on liquidity conditions," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. "The rupee may be in the broad range of 84.00 to 84.50 in the near term as markets await a slew of data from the US this evening," Bhansali added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.15 per cent to 106.84. Brent crude, the global oil benchmark, was marginally down 0.10 per cent to USD 72.74 per barrel in futures trade. In the domestic equity market, the 30-share equity benchmark Sensex was trading 46.69 points lower, or 0.06 per cent, at 79,957.57 points. <keyword id="19932515" type="General" weightage="20" keywordseo="Foreign-Institutional-Investors" source="keywords">Foreign Institutional Investors</keyword> (FIIs) were net buyers in the capital markets on Tuesday, purchasing shares worth Rs 1,157.70 crore, according to exchange data.

Rupee falls 15 paise to 83.44 against US dollar in early trade

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> gained 12 paise to 82.08 against the <keyword id="6368584" type="General" weightage="20" keywordseo="us-dollar" source="Orion">US dollar</keyword> in early trade on Friday supported by easing crude oil prices and a positive trend in domestic equities. Forex traders said significant foreign fund outflows and dollar demand from importers may weigh on the local unit and restrict the appreciating bias. At the interbank foreign exchange, the domestic unit opened at 82.15 against the dollar, then gained ground and touched 82.08, registering a rise of 12 paise over its previous close. In initial trade, the rupee also touched a low of 82.22 against American currency. On Thursday, the rupee fell 40 paise to close below the 82 per US dollar mark. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.09 per cent to 101.84. Brent crude futures, the global oil benchmark, declined 0.10 per cent to USD 82.09 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 348.05 points or 0.58 per cent higher at 60,280.29. The broader NSE Nifty advanced 51.05 points or 0.29 per cent to 17,661.45. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Thursday as they offloaded shares worth Rs 3,065.35 crore, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/lok-sabha-adjourned-till-2-pm-rajya-sabha-till-230-pm-over-adani-issue/articleshow/97571601.cms">Lok Sabha adjourned till 2 pm, Rajya Sabha till 2:30 pm over Adani issue</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/electric-two-wheeler-sales-volume-in-india-expected-to-reach-22-million-by-2030-says-redseer-report/articleshow/97570866.cms">Electric two wheeler sales volume in India expected to reach 22 million by 2030, says Redseer report</a>

Rupee gains 12 paise to 82.08 against US dollar

<ul><li>The rupee opened on a positive note and gained 12 paise to 81.76 against the US dollar.</li><li>On Tuesday, the rupee depreciated by 36 paise to close at a three-week low of 81.88 against the US dollar.</li></ul>The rupee opened on a positive note and gained 12 paise to 81.76 against the US dollar in early trade on Wednesday ahead of the <keyword id="6360189" type="General" weightage="80" keywordseo="union-budget" source="Orion">Union Budget</keyword> presentation. At the interbank foreign exchange, the domestic unit opened at 81.76 against the dollar, registering a rise of 12 paise over its previous close. On Tuesday, the rupee depreciated by 36 paise to close at a three-week low of 81.88 against the US dollar after the Economic Survey 2022-23 said the domestic unit may remain under pressure on account of plateauing of exports and subsequent widening of the current account deficit. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.02 per cent to 102.08. Brent crude futures, the global oil benchmark, declined 0.48 per cent to USD 84.49 per barrel. The focus now will be on the government's fiscal consolidation path when it presents the Union <keyword id="6358021" type="General" weightage="100" keywordseo="budget" source="Orion">Budget</keyword> FY24. Investors will also eye the outcome from the Fed meeting later in the evening, forex traders said. "We have the Union Budget today. We believe the key to making both the stock market and bond market happy would be a theme which focuses on capex and fiscal consolidation," IFA Global Research Academy said in a research note. <keyword id="25455" type="General" weightage="50" keywordseo="finance" source="Orion">Finance</keyword> Minister <keyword id="129243" type="General" weightage="50" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> on Wednesday will present her fifth straight Budget at a time when the economy is slowing due to global headwinds and specific sectors need attention. In the run-up to the Budget presentation, expectations are rife that she may tweak income-tax slabs to provide relief to the middle class and increase spending on the poor through programmes such as the rural job scheme while ramping up financial incentives for local manufacturing. But she has to do all this while staying on the course of the fiscal consolidation path. In the domestic equity market, the 30-share BSE Sensex was trading 352.75 points or 0.59 per cent higher at 59,902.65. The broader NSE Nifty advanced 96.75 points or 0.55 per cent to 17,758.90. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 5,439.64 crore, according to exchange data. The government's fiscal deficit as of end-December touched 59.8 per cent of the full-year Budget Estimate on subdued growth in revenue collections, according to finance ministry data released on Tuesday. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/nasas-new-rocket-engine-could-shorten-the-journey-time-to-mars-and-moon-a-game-changer-for-deep-space-exploration/articleshow/97441618.cms">Nasa's new rocket engine could shorten the journey time to Mars and Moon: A game-changer for deep space exploration</a> <a href="https://www.businessinsider.in/tech/mobile/news/new-patent-suggests-that-apple-could-bring-a-foldable-iphone-with-a-self-healing-display-in-the-future/articleshow/97302738.cms">New patent suggests that Apple could bring a foldable iPhone with a self-healing display in the future</a>

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