Posts Tagged ‘Rupee’
India’s central bank intervenes again to support rupee, traders say
[MUMBAI] The Indian central bank was seen back in the foreign exchange market on Thursday, selling dollars through state-run banks to reinforce support for the rupee, traders said. The rupee recovered to 89.8550 per US dollar from 89.9775 on back of the intervention. This is the second straight day when the RBI has stepped in…
Read MoreRupee bias tilts higher on final day of year on supportive Asia FX, momentum
[MUMBAI] The Indian rupee was biased higher on the final trading day of the year, due to supportive moves in Asian currencies and favourable near-term momentum. The 1-month non-deliverable forward indicated the rupee will open marginally higher versus the US dollar, having advanced 0.2 per cent on Tuesday (Dec 30) to settle at 89.79. Trading…
Read MoreRupee hits record low, pressured by persistent outflows and NDF maturities
[MUMBAI] The Indian rupee slipped to an all-time low for the fourth consecutive session on Tuesday, pressured by dollar bids spurred by the likely maturity of positions in the non-deliverable forwards market and persistent portfolio outflows. The rupee slipped to an all-time low of 90.82, eclipsing its previous record low of 90.7875 hit on Monday.…
Read MoreIndia central bank to tolerate weaker rupee as inflows dry up
[MUMBAI] India’s central bank will tolerate a weaker rupee as the country’s external sector confronts multiple headwinds including a wider trade gap and stalling of dollar inflows into the world’s fifth-largest economy, three sources familiar with the central bank’s thinking told Reuters. The Reserve Bank of India (RBI), which had supported the rupee through aggressive…
Read MoreThai prices hit near 4-month high; India prices ease on weak demand, soft rupee
Thailand’s 5% broken rice was quoted at US$370 per metric tonne, its highest since July 31 [BANGKOK] Thailand’s rice prices jumped to a near four-month high this week as flooding hit production areas and traders cited news of sales to China and a firmer baht, while Indian prices slipped on sluggish demand and a rupee…
Read MoreHow India’s rupee ended up as Asia’s worst currency this year
To stabilise the rupee, India’s central bank has sold over US$30b in FX assets since late July [MUMBAI] The Indian rupee is currently Asia’s worst-performing currency of 2025. It is also on track for its largest annual decline since 2022 – the year Russia’s invasion of Ukraine sent oil prices soaring past US$100 per barrel,…
Read MoreRupee gains as RBI returns to defend currency after slump
INDIA’S rupee bounced back after the Reserve Bank of India (RBI) resumed efforts to support it, following a sharp drop last Friday when the central bank appeared to ease up on the firm defence it had maintained in recent weeks. The rupee gained as much as 0.4 per cent to 89.08 per US dollar on…
Read MoreIndian central bank likely intervenes to prop up rupee before local market open, traders say
[MUMBAI] The Reserve Bank of Indian likely intervened to support the rupee before the local spot market opened on Monday, four traders told Reuters, putting the currency on track to open above its all-time low hit on Friday. The rupee was last quoting at 89.23 per US dollar on the interbank order matching system after…
Read MoreIndian rupee slides to record low, central bank likely intervenes near 89.50/USD
[MUMBAI] The Indian rupee weakened to a lifetime low against the greenback on Friday (Nov 21), pressured by shrinking risk appetite amid fading expectations of a Federal Reserve rate cut and uncertainty over a US-India trade deal. The rupee touched 89.48, sliding past its previous all-time low of 88.80 hit in late September and again…
Read MoreIndia’s RBI is back defending rupee low as October gains fizzle
THE Indian rupee is inching closer to a new low again, with the central bank’s recent interventions providing only a limited respite for Asia’s worst-performing currency this year. Uncertainty over tariffs on India’s exports to the US and a less certain path for Federal Reserve rate cuts are exerting pressure on the rupee, which fell…
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