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The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> fell 27 paise to close at 82.05 (provisional) against the US currency on Tuesday, weighed down by a strong greenback against major rivals overseas and a muted trend in domestic equities. At the interbank foreign exchange, the domestic unit opened at 81.84 against the dollar and slipped below the 82 levels to close at 82.05 (provisional), down 27 paise from its previous close. During the day, the rupee witnessed a high of 81.83 and a low of 82.15 against the greenback. On Monday, the rupee settled at 81.78 against the dollar. The rupee depreciated and is at its lowest level in two and half weeks on the positive US Dollar index. However, soft crude oil prices cushioned the downside, said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.10 per cent to 101.47. "US Dollar gained on risk aversion in global markets and as the Federal Reserve's Senior Loan Officer Opinion Survey shows banks continued to tighten credit conditions for business and households, but it was better than expected," Choudhary added. Brent crude futures, the global oil benchmark, declined 0.88 per cent to <keyword id="54123" type="General" weightage="20" keywordseo="usd" source="Orion">USD</keyword> 76.33 per barrel. "We expect the rupee to trade with a negative bias on the strong Dollar amid safe haven appeal on the back of risk aversion in global markets and worries over a global economic slowdown. "However, softening crude oil prices at higher levels and FII inflows may support the rupee at lower levels. Investors may remain cautious ahead of inflation data from India and the US later this week. We expect USD/INR spot to trade in between 81.60 to 82.75 in the near term," Choudhary added. On the domestic equity market front, the 30-share BSE Sensex closed 2.92 points lower at 61,761.33. The broader NSE Nifty advanced 1.55 points to 18,265.95. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Monday as they purchased shares worth Rs 2,123.76 crore, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fpis-pump-9677-crore-into-financial-services-and-auto-stocks-in-april/articleshow/100100496.cms">FPIs pump ₹9,677 crore into financial services and auto stocks in April</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-closes-at-61761-on-fag-end-volatility-after-crossing-62000-during-the-day/articleshow/100101148.cms">Sensex closes at 61,761 on fag-end volatility after crossing 62,000 during the day</a>

Rupee weighed down strong greenback, falls 27 paise to close at 82.05/USD

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> gained 57 paise to close at 81.78 (provisional) against the US dollar on Tuesday, the biggest single-day gain since November. Forex traders said the rupee was the best performer among Asian currencies and now has the support of 81.70. At the interbank foreign exchange market, the local unit opened at 82.20 and touched an intra-day high of 81.72 and a low of 82.26 against the greenback. It finally ended at 81.78 (provisional), registering a rise of 57 paise over its previous close. On Monday, the rupee settled at 82.35 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.12 per cent to 103.12. The rupee became the best performer among the Asian currencies following stop order triggers and inflows from bond selling, said Dilip Parmar, Research Analyst, <keyword id="11837714" type="DOMAIN" weightage="20" keywordseo="hdfc" botkeyword="" source="ET" sourcekeytype="COMPANY" meta.keywordsubtype="EQ" meta.aliasname="hdfc" meta.entityname="Housing Development Finance Corporation Ltd." meta.entityid="13640" meta.seoname="housing-development-finance-corporation-ltd">HDFC</keyword> Securities. "The local unit witnessed the biggest single-day gains after November 11 and broke the psychological level of 82 as the traders rushed to cover the positions," Parmar said. Parmar further noted that Spot USD/INR now has the support of 81.70, "the 50 per cent Fibonacci retracement adjoining the November 14 low of 80.51 and the January 03 high of 82.94. The near-term view remains bearish for the pair and a level below 81.70 will pave way for 81.45 while on the higher side 82.10 acts as resistance". On the domestic equity market front, the 30-share BSE Sensex declined 631.83 points or 1.04 per cent to end at 60,115.48, while the broader NSE Nifty fell 187.05 points or 1.03 per cent to 17,914.15. Global oil benchmark Brent crude futures rose 0.13 per cent to <keyword id="54123" type="General" weightage="20" keywordseo="usd" source="Orion">USD</keyword> 79.75 per barrel. Foreign Institutional Investors (FIIs) were net sellers in the capital market on Monday as they offloaded shares worth Rs 203.13 crore, according to exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/net-inflows-in-mf-schemes-up-three-times-at-7303-crore-in-december/articleshow/96881163.cms">Investors continue to SIP on equities: Net Inflows in MF schemes up three times at ₹7,303 crore in December</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tcs-tata-motors-paytm-among-stocks-in-focus-on-tuesday/articleshow/96870156.cms">Sensex sheds 632 points, Nifty50 falls 187 points as PSU bank, financial services and IT stocks drag</a>

Rupee gains 57 paise to close at 81.78 against US dollar

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

<ul><li>In initial trading, the <keyword id="6355302" type="General" weightage="20" keywordseo="Rupee" source="Orion">rupee</keyword> also touched ₹81.51 against the American currency.</li><li>The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.35 percent to 110.81.</li><li>Global oil benchmark Brent crude futures surged 0.13 per cent to $ 93.49 per barrel.</li></ul> The rupee depreciated 4 paise to 81.66 against the US dollar in early trade on Thursday amid high volatility as rising crude oil prices weighed on the local unit. At the interbank foreign exchange, the rupee opened on a strong note at ₹81.52 against the greenback, then pared the gains and fell to ₹81.66, registering a fall of 4 paise over its previous closing. In initial trading, the rupee also touched ₹81.51 against the American currency. On Tuesday, the rupee appreciated by 20 paise to end at ₹81.62 against the US dollar. The forex market was closed on Wednesday on account of Dussehra. According to Sriram Iyer, Senior Research Analyst at <keyword id="197560" type="General" weightage="80" keywordseo="reliance-securities" source="Orion">Reliance Securities</keyword>, the rupee opened stronger tracking a fall in the dollar over the past two sessions. Moreover, Asian and emerging market peers were also stronger this Thursday morning and lent support. However, stronger crude oil prices, hawkish rhetoric from Fed officials and JP Morgan's decision to hold off the inclusion of Indian bonds into its global index weighed on the local unit, Iyer added. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.35 per cent to 110.81. Global oil benchmark Brent crude futures surged 0.13 % to $93.49 per barrel. On the domestic equity market front, the 30-share <keyword id="53232" type="General" weightage="80" keywordseo="bse-sensex" source="Orion">BSE Sensex</keyword> was trading 357.3 points or 0.62 % higher at 58,422.77, while the broader NSE Nifty advanced 109.25 points or 0.63 per cent to 17,383.55. Foreign institutional investors were net buyers in the capital market on Tuesday as they purchased shares worth ₹1,344.63 crore, as per exchange data. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/news/big-emitters-not-acknowledging-climate-risks-carbon-tracker/articleshow/94672583.cms">Big emitters not acknowledging climate risks: Carbon Tracker</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-is-up-334-points-nifty-by-91-points-tracking-gains-from-asian-markets/articleshow/94672606.cms">Sensex is up 334 points, Nifty by 91 points tracking gains from Asian markets</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-incs-foreign-commercial-borrowings-rise-by-4-6-in-august/articleshow/94664946.cms">India Inc's foreign commercial borrowings rise by 4.6% in August</a>

Rupee falls 4 paise to 81.66 against US dollar in early trade

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 massive sell-off that has gripped <keyword id="6359891" type="COMPANY" weightage="60" keywordseo="emerging-markets">emerging markets</keyword> over the past several weeks continues with a vengeance this week.
The Turkish lira, the Brazilian real, the Mexican peso, and several other emerging-market currencies are down big against the dollar.
Far and away the biggest loser, though, is the Indian <keyword id="6355302" type="ORGANIZATION" weightage="60" keywordseo="Rupee">rupee</keyword>: the U.S. dollar is up 2.9% against the rupee today.
It's not just today that the rupee is underperforming vis-a-vis its emerging-market peers, either. The dollar-rupee exchange rate is currently the highest percentage above its 20-day moving average of any major currency pair.
India is desperately trying to stave off a balance-of-payments crisis that is causing the currency to tank, but so far has been unsuccessful, judging by the reaction in currency markets.
Exacerbating the rupee crisis today is the fact that the lower house parliament voted to pass a a<a href="http://www.businessinsider.com/nomura-on-the-indian-food-bill-2013-8">huge food subsidy bill that will likely expand the deficit, and increase inflation</a>.
The chart below shows the big losses in the rupee against the dollar year-to-date.
<div class="image-container click-to-enlarge"><div class="image"><a title_source="Business Insider/Matthew Boesler, data from Bloomberg" title_caption="" class="zoomin" href="http://static6.businessinsider.com/image/521c9a41ecad0422552ad403-960/dollar-rupee-exchange-rate.png"></a>Business Insider/Matthew Boesler, data from Bloomberg</div></div>

CHART OF THE DAY: The Indian Rupee Is Getting Absolutely Brutalized

The rupee on Tuesday recovered 13 paise to close at 71.85 (provisional) against the US dollar amid easing crude oil prices and weakening of the American currency in the overseas market. Forex traders said while weak dollar and easing crude oil prices supported the rupee, losses in domestic stocks and foreign fund outflows weighed on the local unit restricting its upmove. At the interbank foreign exchange market, the local currency opened on a positive note at 71.84. During the day, it saw a high of 71.78 and a low of 71.90. The Indian currency settled higher by 13 paise at 71.85, cutting short its three-day losing run, according to provisional market data. The domestic unit had settled at 71.98 against the American currency on Monday. "Rupee started the day strong on back of firm opening of stocks, selling by exporters and a weak dollar," said Jateen Trivedi, Senior Research Analyst (Commodity &amp; Currency) at LKP Securities.

Rupee up 13 paise at 71.85 against USD on easing crude prices, weak dollar

<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.

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Rupee weighed down strong greenback, falls 27 paise to close at 82.05/USD

PTI

Rupee gains 57 paise to close at 81.78 against US dollar

PTI

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

PTI

Rupee falls 4 paise to 81.66 against US dollar in early trade

PTI

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

PTI

CHART OF THE DAY: The Indian Rupee Is Getting Absolutely Brutalized

Matthew Boesler

Rupee up 13 paise at 71.85 against USD on easing crude prices, weak dollar

PTI

The falling rupee isn’t bad news for everyone

Prabhjote Gill

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