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The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> depreciated 15 paise to 81.45 against the US dollar in early trade on Thursday, weighed down by a muted trend in domestic equities and foreign fund outflows. At the interbank foreign exchange, the domestic unit opened weak at 81.45 against the dollar, registering a decline of 15 paise over its last close. In initial trade, the rupee also touched an early high of 81.27 against the US dollar. In the previous session on Wednesday, the rupee settled at 81.30 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.09 per cent to 102.26. Brent crude futures, the global oil benchmark, declined 1.18 per cent to $83.98 per barrel. Forex traders expect the rupee to trade with a slight negative bias on global economic concerns. IMF managing director Gita Gopinath warned of a tough year in 2023 for the global economy. The global economy is facing a unique situation due to unprecedented levels of high inflation and that is causing tension between monetary and fiscal policies, IMF's Gita Gopinath said on Wednesday. In the domestic equity market, the 30-share BSE Sensex was trading 140.49 points or 0.23 per cent lower at 60,905.25. The broader NSE Nifty declined 65.45 points or 0.36 per cent to 18,099.90. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 319.23 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/33-parents-say-their-children-were-approached-by-strangers-on-online-platforms-cry-study/articleshow/97115067.cms">33% parents say their children were approached by strangers on online platforms: CRY study</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/tech-mahindra-ceo-cp-gurnani-looks-to-transition-from-captain-to-coach-post-retirement/articleshow/97120238.cms">Tech Mahindra CEO CP Gurnani looks to transition from captain to coach post retirement</a>

Rupee falls 15 paise to 81.45 against US dollar

The <keyword id="6355302" type="General" weightage="20" keywordseo="rupee" source="Orion">rupee</keyword> has depreciated 30 paise against the US dollar on Thursday as sentiments of investors dampened due to weak macroeconomic data and tensions between US-China. At the interbank foreign exchange market, the rupee opened at 79.21 and then fell to 79.46 against the US dollar. The rupee ended at 79.16 against the dollar on Wednesday. Market participants said that most traders remained cautious ahead of the Reserve Bank of India's (RBI) monetary policy due on Friday. "Rupee dragged lower below 79.75 as volatility increased in the market on the back of geopolitical issues which may arise between US-China conflict over Taiwan. More of a panic sentiment rally was witnessed across currencies especially Chinese neighbouring countries due to geographical locations," said Jateen Trivedi, VP Research Analyst at LKP Securities. India's exports dipped marginally for the first time in June and the trade deficit has recorded tripled to $31 billion on 70 per cent rise in crude oil prices. By the end of Indian market hours, Brent crude oil prices were trading at $97.15 a barrel. On the domestic equity front, Sensex fell just over 50 points or 0.09 per cent to 58,298.80, and Nifty fell mere 6.15 points or 0.04 per cent to 17,382.00. "The new broad range for USD INR has now turned to 78.20-80.20 levels and may consolidate within these levels for sometime now," said Kunal Sodhani, Vice President, Global Trading Centre, Shinhan Bank. SEE ALSO <a href="https://www.businessinsider.in/finance/news/the-worst-of-the-rupees-decline-might-be-over-as-market-expects-us-fed-to-dial-down-pace-of-hikes/articleshow/93290895.cms">The worst of the rupee's decline might be over as market expects US Fed to dial down pace of hikes</a> <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/markets-on-a-wait-and-watch-mode-as-they-await-cues-from-rbi/articleshow/93290015.cms">Markets on a wait and watch mode as they await cues from RBI</a> <a href="https://www.businessinsider.in/business/auto/news/as-new-cars-get-pricier-pre-owned-bmws-audis-and-porsches-get-more-attractive/articleshow/93275786.cms">As new cars get pricier, pre-owned BMWs, Audis and Porsches get more attractive</a>

Indian rupee falls 30 paise to close at 79.46 against US dollar

Indian Oil, <keyword id="44555" type="CITY" weightage="100" keywordseo="BPCL">BPCL</keyword> and <keyword id="6362419" type="CITY" weightage="100" keywordseo="HPCL">HPCL</keyword> were in fine shape despite a weak broader market as a fall in global crude oil prices, following the strength in the Dollar, helped boost sentiment on local OMCs. 
 BPCL surged 3.3 percent to 930 rupees. <keyword id="6374014" type="CITY" weightage="100" keywordseo="Hindustan-Petroleum">Hindustan Petroleum</keyword> added 2.1 percent to 788 rupees and <keyword id="59622" type="CITY" weightage="100" keywordseo="Indian-Oil-Corp">Indian Oil Corp</keyword> was up 1.3 percent at 422 rupees. A fall in global oil prices augurs well for these companies' export bills. 
 
Crude Oil prices slumped to their mid-April lows on a variety of reasons. The Dollar strengthened versus other peers following the Greek vote. A strong dollar pushes commodity prices lower. Rising global supply is feared as the Iranians are close to their nuclear deal with the US. Also, more importantly, US count on drilling rigs has risen for the first time in many months, pointing to increasing supply in the near term. 
 
(Image credits: indiatimes)

Even as market plummets, these 3 oil stocks soar!

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Thomson ReutersA man displays the new 2000 Indian rupee banknotes after withdrawing them from State Bank of India in Agartala</div></div></div><ul><li>The<a href="https://markets.businessinsider.com/currencies/usd-inr"> Indian rupee</a> hit an all-time low versus the dollar.</li><li>The <a href="https://markets.businessinsider.com/currencies/usd-try">Turkish lira</a> crisis has hit other currencies, analysts say.</li><li><a href="https://markets.businessinsider.com/currencies/usd-inr">Watch the Indian rupee trade in real time here.</a></li></ul>India's currency hit an all-time low Monday, signaling that fears surrounding a crisis in Turkey could spill over into other markets. The rupee fell to 70.0850 versus the dollar at 9 a.m. ET. The sharp slide will likely lead the Reserve Bank of India to intervene, sources told <a href="https://www.cnbc.com/2018/08/13/indian-rupee-hits-record-low-rbi-said-to-have-intervened.html">CNBC</a>. Jameel Ahmad, global head of currency strategy and market research at FXTM, said the rupee fell "as a result of the risk off atmosphere across global markets." A sharp selloff in the Turkish lira last week has raised concerns that a currency crisis in the country, which holds large amounts of foreign debt, could spread to surrounding markets. "Global markets and news headlines across the world are once again being completely dictated by the ongoing events in Turkey," Ahmad said. "The Turkish Lira has entered another round of currency freefall, with the ongoing volatility dragging down a wide host of currencies across the world."Turkey's currency plunged more than 18% against the dollar Friday. It continued to slide Monday morning, shedding as much as 9%, with no end to the selloff in sight. It has lost about 40% of its value in August. President Recep Tayyip Erdogan, who has wielded more influence over the central bank this year, doesn't believe a traditional economic theory that raising interest rates will slowdown inflation."The TRY is in a full-blown currency crisis as the number of negative stories increases," Nordea analysts Morten Lund and Tuuli Koivu wrote in a note. Concerns about the lira have already hit other emerging market currencies, analysts say, including the South African rand, Russian ruble, and Mexican peso. Turkey's main banking regulator will no longer allow foreign exchange operations of financial institutions to exceed 50% of their equity, according to a Sunday <a href="https://www.bddk.org.tr/websitesi/english/Announcements/Press_Releases/17174duyuru_0649_01.pdf">announcement</a> on its website. Garanti Bank, one of Turkey's largest private financial institutions, announced Monday it won't allow any customers to open any new foreign exchange positions.Also on Monday, data showed Indian consumer price inflation slowed down more than the consensus had expected. But that was mainly due to a "dramatic drop" in food inflation, according to Capital Economics economist Shilan Shah. <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/science-marry-your-cousin-safe-genetics-2018-7">Is marrying your cousin actually dangerous?</a></h3> <div> </div> </div>

Indian rupee tumbles to record low amid spillover from 'full-blown crisis' in Turkey

Mumbai, Dec 30 () The rupee appreciated by 4 paise to settle at 71.31 against the US currency amid weakening of the US dollar in overseas markets even as crude oil prices surged.
 Subdued domestic equity markets and high crude oil prices restricted the gains in the rupee, analysts said.
 At the interbank foreign exchange market, the rupee opened at 71.36 against the US dollar. During the day, the domestic unit saw a high of 71.30 and a low of 71.39.
 The domestic unit finally settled at 71.31, higher by 4 paise over the previous closing price. On Friday the rupee had settled at 71.35 against the American currency.
 "Rupee traded with flat range trade between 71.28-71.41 mainly due to oil importers are buying dollars frequently for their month-end outflows," LKP Securities Senior Research Analyst (Commodity &amp; Currency) Jateen Trivedi said.
 According to V K Sharma, Head - PCG &amp; Capital Market Strategy, HDFC securities, "Indian rupee gains following weaker dollar index versus major trading currencies. The trading activity remained muted on global forex markets ahead of New Year holiday".
 On the domestic market front, the 30-share BSE Sensex ended 17.14 points, or 0.04 per cent, lower at 41,558. The broader NSE Nifty, however, closed 10.05 points, or 0.08 per cent, higher at 12,255.85.
 Foreign institutional investors (FIIs) remained net buyers in the capital markets, as they purchased shares worth Rs 81.37 crore on Friday, exchange data showed.
 Market participants, however said that rising crude prices weighed on the local currency.
 Brent futures, the global oil benchmark, rose 0.66 per cent to USD 68.61 per barrel.
 The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.11 per cent to 96.80.
 The 10-year government bond yield was at 6.51 per cent on Monday.
 "The benchmark 10 year bond yield steady at 6.51 per cent on central banks open market operation. RBI has conducted second successful "Operation Twist" of Rs 100 billion in Monday's session," Sharma said.
 The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 71.2214 and for rupee/euro at 79.1859. The reference rate for rupee/British pound was fixed at 92.5532 and for rupee/100 Japanese yen at 65.04. DRR MR

Rupee settles 4 paise higher at 71.31 against US dollar

Iron ore miner <keyword id="28423" type="CITY" weightage="100" keywordseo="vedanta">Vedanta</keyword> led commodity stocks lower as a strong Dollar, weakness in Chinese markets and the Greek referendum vote going against the EU's bailout hurt sentiment on miners, steel producers and aluminium makers. 

	Losses on these stocks outpaced the drop on the main index.
 Vedanta fell 4.6 percent to 160.50. <keyword id="44374" type="CITY" weightage="100" keywordseo="Hindalco">Hindalco</keyword> down 2.4 percent to 108 rupees and <keyword id="6357147" type="CITY" weightage="100" keywordseo="Tata-Steel">Tata Steel</keyword> dropped 2.3 percent to 294.20 rupees. All four stocks lead the losers list on the <keyword id="6354813" type="COMPANY" weightage="100" keywordseo="nifty">Nifty</keyword>, which fell 0.7 percent. 

	The Dollar has gained strength versus other currencies following safe haven buying after the Greek vote. Commodity prices are inversely related to the Dollar, hence the drop in their stock quotes. A sustained fall in Chinese markets is also spooking sentiment on the commodity space. 
 

	Hindalco, Nalco and JSPL also figured on the list of 52-week lows. 
	 <keyword id="71792" type="ORGANIZATION" weightage="100" keywordseo="NMDC">NMDC</keyword>, meanwhile, reported its Iron Ore production details for the first quarter. Volume sales plunged 24 percent to 5.93 million Tons at a time when it also cut prices for iron ore fines by 300 rupees a ton to 1,660 per ton for the month of July. Since NMDC is also on the list of companies to be divested partially by the Government, its stock is under additional selling pressure. 
	 
	(image credits: mining-technology.com)

Not just Greece, weak Dollar and Chinese market pulling down the sensex

Mumbai, The rupee settled on a flat note with a loss of just 1 paisa at 83.04 (provisional) against the dollar on Thursday on the back of strengthening American currency and sharp rise in crude oil prices. The domestic currency broke its six-day gaining streak despite positive equity market sentiment, as foreign funds outflow dented sentiments. At the interbank foreign exchange market, the local unit opened at 83.05 and traded between the peak of 82.93 and the lowest level of 83.08 against the greenback during the intra-day deals. It finally settled at 83.04 (provisional) against the dollar, down by just 1 paisa over its previous closing level. "The Indian rupee is trading flat. It opened on a positive note on weak Dollar and positive domestic markets. However, it lost its initial gains on some FII outflows and a slight recovery in crude oil prices. The <keyword id="19949640" type="General" weightage="20" keywordseo="us-dollar" source="keywords">US dollar</keyword> declined on Wednesday as traders trimmed their positions ahead of inflation data," Anuj Choudhary Research Analyst, Sharekhan by BNP Paribas. Investors are awaiting US inflation data to be released later in the day for further cues, forex analysts said, adding that traders will also closely monitor the domestic inflation numbers to be released on Friday. "We expect the rupee to trade with a slight positive bias on the soft US Dollar and positive Asian currencies. However, recent FII outflows and recovery in crude oil prices may cap sharp gains. "Concerns over global economic slowdown and the ongoing geopolitical tensions in the Red Sea and Middle East may also weigh on Rupee. Investors may remain cautious ahead of inflation data US and CPI and IIP data from and India on Friday. USDINR spot price is expected to trade in a range of Rs 82.70 to Rs 83.30," Choudhary said. The domestic currency had gained 10 paise on Wednesday. The rupee has witnessed a cumulative gain of 29 paise in the previous six sessions since the level of 83.32 versus dollar recorded on January 2. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent higher at 102.14 on Thursday. Brent crude futures, the global oil benchmark, surged 1.67 per cent to USD 78.08 per barrel. On the domestic equity market front, Sensex rose 63.47 points, or 0.09 per cent, to settle at 71,721.18 points. The Nifty advanced 28.50 points, or 0.13 per cent, to 21,647.20 points. Foreign institutional investors (FIIs) sold shares worth Rs 1,721.35 crore on Wednesday, according to exchange data.

Crude shock: Rupee falls 1 paisa to close at 83.04 against dollar

Mumbai, Mar 9 () The Indian rupee slumped by another 30 paise to touch a 17-month low of 74.17 against the US dollar on Monday after global financial market meltdown signalled that the world is staring at a coronavirus-led economic recession. At the interbank foreign exchange market, the local currency opened at 73.99. During the day, it moved northward, though briefly, to touch a high of 73.85. Succumbing to weakening sentiment, the Indian currency finally settled lower by 30 paise at 74.17 to the American unit. Meanwhile, crude oil prices were in a free fall, plunging nearly 30 per cent to USD 32.11 per barrel after top exporter Saudi Arabia launched a price war in response to a failure by leading producers to strike a deal to support energy markets. Brent crude futures, the global oil benchmark, was last trading 21.23 per cent down at USD 35.66 per barrel. The dollar index, which gauges the greenback's strength against a basket of six currencies, too slipped 0.80 per cent to 95.18. Forex traders said the rupee depreciated versus major trading currencies as a collapse in oil prices added to risk-off sentiment caused by relentless spread of coronavirus across the globe. The total number of confirmed coronavirus cases in India has reached 43, according to Health Ministry officials. More than 3,800 have died and over 110,000 people have been infected globally from the virus, which by Monday reached more than 100 countries and territories. Foreign institutional investors (FIIs) remained net sellers in the capital markets, as they sold shares worth Rs 6,595.56 crore on Monday, as per provisional data. The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 73.6629 and for rupee/euro at 82.6930. The reference rate for rupee/British pound was fixed at 95.4377 and for rupee/100 Japanese yen at 69.56. The 10-year Indian government bond yield was at 6.07 per cent. "Rupee fell against the US dollar as investors flocked to buy bonds to hedge the economic shock of the coronavirus," Motilal Oswal Financial Services Forex &amp; Bullion Analyst Gaurang Somaiyaa said adding that rupee is expected to quote with a negative bias and in the range of 73.80 and 74.20. In their biggest ever single-day drop in absolute terms, the BSE Sensex crashed over 1,941 points and the NSE Nifty tumbled 538 points as no let-up in coronavirus spread and massive crude oil plunge fuelled global recession fears. Besides, both indices also marked their biggest intra-day fall of all-time. Benchmarks Sensex and Nifty slumped intra-day 2,467 points and 695 points, respectively. "The sharp underperformance of INR was a reminder that there are no real safe havens in high-yielding emerging market forex. INR seems to have over-reacted to confirmation of COVID-19 infections while news of the RBI being forced to rescue a big private sector bank did not help," said Rajesh Cheruvu, Chief Investment Officer, Validus Wealth. DRR BAL MKJ MKJ

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Rupee falls 15 paise to 81.45 against US dollar

PTI

Indian rupee falls 30 paise to close at 79.46 against US dollar

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Even as market plummets, these 3 oil stocks soar!

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Indian rupee tumbles to record low amid spillover from 'full-blown crisis' in Turkey

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Rupee settles 4 paise higher at 71.31 against US dollar

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Not just Greece, weak Dollar and Chinese market pulling down the sensex

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Crude shock: Rupee falls 1 paisa to close at 83.04 against dollar

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Rupee woes continue, plunges to 17-month low of 74.17 against US dollar

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