The Indian rupee kicked off 2019 on a resounding note, building up on gains of the previous two sessions and adding another 34 paise Tuesday to close at 69.43 against the US dollar on increased selling of the greenback by exporters and smart gains in domestic equities.

The domestic unit has rallied by a hefty 92 paise in the last three trading sessions.

Traders said sustained selling of the American currency by exporters and banks propped up the rupee.

At the Interbank Foreign Exchange (forex), the rupee opened on a firm note at 69.63. It gained further to hit a high of 69.43 following dollar selling by exporters, before finally closing at 69.43, up 34 paise.

On Monday, the rupee signed off the last trading session of 2018 with 18 paise gains at 69.77 per dollar.

However, the domestic currency clocked a 9.23 per cent fall in 2018.

On year-over-year basis, the rupee depreciated by a whopping 509 paise, or 9.23 per cent, as compared to 2017-end level of 63.87.

Domestic brokerage firm Kotak Institutional Equities in a research report said that the year 2019 seems to be a better starting point in terms of valuation, currency.

"The INR seems to be fairly valued; we see mild depreciation in 2019 compared to the sharp correction that it saw in 2018," the report said.

Traders said, a positive trend in the domestic equities also supported the local unit.

Indian equity market started the New Year on a positive note, with BSE benchmark Sensex rising over 186 points Tuesday. The 30-share BSE Sensex closed at 36,254.57, rising 186.24 points or 0.52 per cent. Similarly, the NSE Nifty ended at 10,910.10, gaining 47.55 points or 0.44 per cent.

Meanwhile, foreign funds pulled out Rs 326.87 crore from the capital markets on a net basis, while domestic institutional investors bought shares worth Rs 321.98 crore Monday, provisional data showed.

The dollar index was trading down by 0.31 per cent at 95.87 against a&nbsp; 
basket of six currencies in the late afternoon trade.

The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 69.7131 and for rupee/euro at 79.9330. The reference rate for rupee/British pound was fixed at 88.9748 and for rupee/100 Japanese yen at 63.57.

The Indian rupee kicked off 2019 on a resounding note, building up on gains of the previous two sessions and adding another 34 paise Tuesday to close at 69.43 against the US dollar on increased selling of the greenback by exporters and smart gains in domestic equities.

The Indian rupee kicked off 2019 on a resounding note, building up on gains of the previous two sessions and adding another 34 paise Tuesday to close at 69.43 against the US dollar on increased selling of the greenback by exporters and smart gains in domestic equities. The domestic unit has rallied by a hefty 92 paise in the last three trading sessions. Traders said sustained selling of the American currency by exporters and banks propped up the rupee. At the Interbank Foreign Exchange (forex), the rupee opened on a firm note at 69.63. It gained further to hit a high of 69.43 following dollar selling by exporters, before finally closing at 69.43, up 34 paise. On Monday, the rupee signed off the last trading session of 2018 with 18 paise gains at 69.77 per dollar. However, the domestic currency clocked a 9.23 per cent fall in 2018. On year-over-year basis, the rupee depreciated by a whopping 509 paise, or 9.23 per cent, as compared to 2017-end level of 63.87. Domestic brokerage firm Kotak Institutional Equities in a research report said that the year 2019 seems to be a better starting point in terms of valuation, currency. "The INR seems to be fairly valued; we see mild depreciation in 2019 compared to the sharp correction that it saw in 2018," the report said. Traders said, a positive trend in the domestic equities also supported the local unit. Indian equity market started the New Year on a positive note, with BSE benchmark Sensex rising over 186 points Tuesday. The 30-share BSE Sensex closed at 36,254.57, rising 186.24 points or 0.52 per cent. Similarly, the NSE Nifty ended at 10,910.10, gaining 47.55 points or 0.44 per cent. Meanwhile, foreign funds pulled out Rs 326.87 crore from the capital markets on a net basis, while domestic institutional investors bought shares worth Rs 321.98 crore Monday, provisional data showed. The dollar index was trading down by 0.31 per cent at 95.87 against a basket of six currencies in the late afternoon trade. The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 69.7131 and for rupee/euro at 79.9330. The reference rate for rupee/British pound was fixed at 88.9748 and for rupee/100 Japanese yen at 63.57.

Rupee begins 2019 journey on a high; soars 34 paise against US dollar

The Indian rupee Monday signed off the last trading session of 2018 with 18 paise gains at 69.77 per dollar but clocked a 9.23 per cent fall during the year after witnessing its one of the tumultuous years in the recent past.

On year-over-year basis, the rupee depreciated by a whopping 509 paise, or 9.23 per cent, as compared to 2017-end level of 63.87.

Forex traders, however, said fundamentals are supportive for the rupee over the next 6-12 months amid supportive growth momentum, robust forex reserves.

"Attractive real yields (net of inflation), growth momentum and robust forex reserves of $394 billion and US dollar stabilisation is likely to be positive for the INR," global financial services major Standard Chartered said in a research note.

However, in the near-term, the trend in the US dollar, oil price and ensuing general elections will determine the direction for the local unit, it noted.

The rupee opened higher at 69.76 per dollar as against Friday's closing level of 69.95 at the Interbank Foreign Exchange (Forex) market and hovered in a range of 69.95 and 69.74 before ending at 69.77 per dollar, showing a gain of 18 paise.

The rupee has gained 58 paise in the last two trading sessions.

Meanwhile, the dollar index was trading down by 0.26 per cent at 96.15 against a basket of six currencies in the late afternoon trade.

Indian equity benchmarks Sensex and Nifty Monday ended the last trading session of 2018 on a sluggish note but clocked gains for the third straight year in a row amid positive cues from global markets and strengthening rupee.

Both indices Sensex and Nifty snapped their three-session winning run and closed the final session of the calendar year with marginal losses.

The 30-share BSE index fell 8.39 points, or 0.02 per cent, to finish at 36,068.33; while the broader NSE Nifty edged lower by 2.65 points, or 0.02 per cent, to 10,862.55.

Brent crude, the international benchmark, was up 2.27 per cent at $54.42 per barrel.

Foreign funds pulled out Rs 326.87 crore from the capital markets on a net basis, while domestic institutional investors bought shares worth Rs 321.98 crore Monday, provisional data showed.

The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 69.7923 and for rupee/euro at 79.7805. The reference rate for rupee/British pound was fixed at 88.5488 and for rupee/100 Japanese yen at 63.21.&nbsp;

The Indian rupee Monday signed off the last trading session of 2018 with 18 paise gains at 69.77 per dollar but clocked a 9.23 per cent fall during the year after witnessing its one of the tumultuous years in the recent past.

The Indian rupee Monday signed off the last trading session of 2018 with 18 paise gains at 69.77 per dollar but clocked a 9.23 per cent fall during the year after witnessing its one of the tumultuous years in the recent past. On year-over-year basis, the rupee depreciated by a whopping 509 paise, or 9.23 per cent, as compared to 2017-end level of 63.87. Forex traders, however, said fundamentals are supportive for the rupee over the next 6-12 months amid supportive growth momentum, robust forex reserves. "Attractive real yields (net of inflation), growth momentum and robust forex reserves of $394 billion and US dollar stabilisation is likely to be positive for the INR," global financial services major Standard Chartered said in a research note. However, in the near-term, the trend in the US dollar, oil price and ensuing general elections will determine the direction for the local unit, it noted. The rupee opened higher at 69.76 per dollar as against Friday's closing level of 69.95 at the Interbank Foreign Exchange (Forex) market and hovered in a range of 69.95 and 69.74 before ending at 69.77 per dollar, showing a gain of 18 paise. The rupee has gained 58 paise in the last two trading sessions. Meanwhile, the dollar index was trading down by 0.26 per cent at 96.15 against a basket of six currencies in the late afternoon trade. Indian equity benchmarks Sensex and Nifty Monday ended the last trading session of 2018 on a sluggish note but clocked gains for the third straight year in a row amid positive cues from global markets and strengthening rupee. Both indices Sensex and Nifty snapped their three-session winning run and closed the final session of the calendar year with marginal losses. The 30-share BSE index fell 8.39 points, or 0.02 per cent, to finish at 36,068.33; while the broader NSE Nifty edged lower by 2.65 points, or 0.02 per cent, to 10,862.55. Brent crude, the international benchmark, was up 2.27 per cent at $54.42 per barrel. Foreign funds pulled out Rs 326.87 crore from the capital markets on a net basis, while domestic institutional investors bought shares worth Rs 321.98 crore Monday, provisional data showed. The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 69.7923 and for rupee/euro at 79.7805. The reference rate for rupee/British pound was fixed at 88.5488 and for rupee/100 Japanese yen at 63.21.

Rupee's tumultuous year ends with 9% annual loss at 69.77 a dollar

&nbsp;After gyrating nearly 700 points Wednesday, benchmark equity indices reversed initial losses and ended higher driven by a rebound in banking stocks amid a firming trend in the US market.

The BSE Sensex broke its three-day falling streak by ending 179.79 points, or 0.51 per cent, higher at 35,649.94. It fell to a low of 35,010.82 during afternoon trade.

The broader NSE Nifty too recovered to reclaim the 10,700 level, rising 66.35 points, or 0.62 per cent, to 10,729.85.

"Market recovered in the second half following a recovery in Dow futures. At current levels, Nifty 50 is on track to deliver nominal positive returns in CY18. Nifty is the only index among large markets that is positive for the calendar year," said Viral Berawala, CIO of Essel Mutual Fund.

The 30-share index had ended the previous session 271.92 points lower at 35,470.15, while the Nifty had lost 90.50 points.

The biggest gainers on both bourses were Bharti Airtel, HDFC duo, L&amp;T, Bajaj Auto, Kotak Bank, Reliance Industries, Axis Bank, ICICI Bank, SBI, ITC and Bajaj Finance, rising up to 4 per cent.

On the other hand, Sun Pharma, Yes Bank, TCS, NTPC, Tata Motors, Infosys and ONGC fell up to 2 per cent.

The <a href="http://www.wionews.com/business-economy/rupee-surges-19-paise-against-dollar-in-early-trade-186541">rupee, meanwhile, gained against the US dollar</a> and was trading at 70.08 per dollar.

Brent crude, the international benchmark, was up 0.73 per cent at USD 51.14 per barrel.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 577.10 crore Monday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 186.14 crore, provisional data available with BSE showed.

Elsewhere in Asia, Korea's Kospi ended 1.31 per cent lower, Hong Kong's Hang Seng fell 0.40 per cent and Shanghai Composite Index slipped 0.26 per cent; while Japan's Nikkei rose 0.89 per cent.&nbsp;

After gyrating nearly 700 points Wednesday, benchmark equity indices reversed initial losses and ended higher driven by a rebound in banking stocks amid a firming trend in the US market.

After gyrating nearly 700 points Wednesday, benchmark equity indices reversed initial losses and ended higher driven by a rebound in banking stocks amid a firming trend in the US market. The BSE Sensex broke its three-day falling streak by ending 179.79 points, or 0.51 per cent, higher at 35,649.94. It fell to a low of 35,010.82 during afternoon trade. The broader NSE Nifty too recovered to reclaim the 10,700 level, rising 66.35 points, or 0.62 per cent, to 10,729.85. "Market recovered in the second half following a recovery in Dow futures. At current levels, Nifty 50 is on track to deliver nominal positive returns in CY18. Nifty is the only index among large markets that is positive for the calendar year," said Viral Berawala, CIO of Essel Mutual Fund. The 30-share index had ended the previous session 271.92 points lower at 35,470.15, while the Nifty had lost 90.50 points. The biggest gainers on both bourses were Bharti Airtel, HDFC duo, L&T, Bajaj Auto, Kotak Bank, Reliance Industries, Axis Bank, ICICI Bank, SBI, ITC and Bajaj Finance, rising up to 4 per cent. On the other hand, Sun Pharma, Yes Bank, TCS, NTPC, Tata Motors, Infosys and ONGC fell up to 2 per cent. The rupee, meanwhile, gained against the US dollar and was trading at 70.08 per dollar. Brent crude, the international benchmark, was up 0.73 per cent at USD 51.14 per barrel. On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 577.10 crore Monday, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 186.14 crore, provisional data available with BSE showed. Elsewhere in Asia, Korea's Kospi ended 1.31 per cent lower, Hong Kong's Hang Seng fell 0.40 per cent and Shanghai Composite Index slipped 0.26 per cent; while Japan's Nikkei rose 0.89 per cent.

Sensex rebounds 180 points, Nifty reclaims 10,700 mark

The <a href="http://www.wionews.com/business-economy/fpis-infuse-rs-4000-cr-in-3-weeks-on-strengthening-rupee-easing-crude-prices-185952">rupee</a> gained 8 paise against the US dollar Monday to trade at 70.10 in on selling of the US currency by exporters and banks.

The dollar was weak against major currencies in <a href="http://www.wionews.com/world/global-markets-stocks-dip-ahead-of-federal-news-oil-prices-drop-185217">global markets</a> which supported the local currency, a currency dealer said, but the choppy trend at the stock exchanges limited the gains.

The rupee opened a shade lower at 70.19 a dollar against the previous close of 70.18 a dollar. It moved in a range of 70.21 to 70.12 a dollar in early trade before quoting at 70.10, showing a gain of 8 paise.

On Friday, the rupee snapped its four-day rising streak by falling 48 paise to close at 70.18 against the US currency due to month-end dollar demand and sharp losses in domestic equities.

Meanwhile, the benchmark BSE Sensex fell by 34.30 points, or 0.11 per cent to 35,703 in early choppy trade Monday after rising to 35,872.02.

The rupee gained 8 paise against the US dollar Monday to trade at 70.10 in on selling of the US currency by exporters and banks. The dollar was weak against major currencies in global markets which supported the local currency, a currency dealer said, but the choppy trend at the stock exchanges limited the gains.

The rupee gained 8 paise against the US dollar Monday to trade at 70.10 in on selling of the US currency by exporters and banks. The dollar was weak against major currencies in global markets which supported the local currency, a currency dealer said, but the choppy trend at the stock exchanges limited the gains. The rupee opened a shade lower at 70.19 a dollar against the previous close of 70.18 a dollar. It moved in a range of 70.21 to 70.12 a dollar in early trade before quoting at 70.10, showing a gain of 8 paise. On Friday, the rupee snapped its four-day rising streak by falling 48 paise to close at 70.18 against the US currency due to month-end dollar demand and sharp losses in domestic equities. Meanwhile, the benchmark BSE Sensex fell by 34.30 points, or 0.11 per cent to 35,703 in early choppy trade Monday after rising to 35,872.02.

Rupee gains 8 paise against dollar

The rupee appreciated 37 paise to 71.19 against the US dollar in early trade at the interbank foreign exchange Tuesday after crude prices fell to a 14-month low level in the international market.

The rise in the rupee was also<a href="http://www.wionews.com/business-economy/rupee-rises-16-paise-to-7174-against-us-dollar-184763"> supported by dollar-selling by exporters</a> and banks and the US unit's weakness against some currencies overseas ahead of US Federal Reserve Monetary policy decision Wednesday, traders said. 
At the interbank forex market, the rupee commenced with strength at 71.34 and appreciated further to quote 37 paise higher at 71.19 against the US dollar.

The<a href="http://www.wionews.com/business-economy/rupee-gains-34-paise-higher-at-7156-against-us-dollar-184873"> rupee had gained 34 paise</a> to close at 71.56 against the US dollar Monday as forex market sentiments were driven by the country's narrowing trade deficit in November as also smart gains in domestic equities.

Brent crude, the international benchmark, dropped by 1.22 per cent to a 14-month low of USD 58.85 barrel.

The US Federal Reserve's policy decision is expected on December 19, and the market is expecting another rate hike, traders said.

However, a lower opening in the domestic equity market capped the gain in the domestic currency.

The benchmark BSE Sensex fell by 170.50 points, 0.47 per cent, to 36,099.57 in early trade.&nbsp;

The rupee appreciated 37 paise to 71.19 against the US dollar in early trade at the interbank foreign exchange Tuesday after crude prices fell to a 14-month low level in the international market.

The rupee appreciated 37 paise to 71.19 against the US dollar in early trade at the interbank foreign exchange Tuesday after crude prices fell to a 14-month low level in the international market. The rise in the rupee was also supported by dollar-selling by exporters and banks and the US unit's weakness against some currencies overseas ahead of US Federal Reserve Monetary policy decision Wednesday, traders said. At the interbank forex market, the rupee commenced with strength at 71.34 and appreciated further to quote 37 paise higher at 71.19 against the US dollar. The rupee had gained 34 paise to close at 71.56 against the US dollar Monday as forex market sentiments were driven by the country's narrowing trade deficit in November as also smart gains in domestic equities. Brent crude, the international benchmark, dropped by 1.22 per cent to a 14-month low of USD 58.85 barrel. The US Federal Reserve's policy decision is expected on December 19, and the market is expecting another rate hike, traders said. However, a lower opening in the domestic equity market capped the gain in the domestic currency. The benchmark BSE Sensex fell by 170.50 points, 0.47 per cent, to 36,099.57 in early trade.

Rupee rises 37 paise to 71.19 against US dollar on falling crude prices

The <a href="http://www.wionews.com/business-%26-economy/rupee-slides-to-71-against-us-dollar--162628">rupee appreciated by 16 paise</a> to 71.74 against the US dollar in early trade on Monday at the interbank foreign exchange, amid weakness in the greenback <a href="http://www.wionews.com/south-asia/pakistans-rupee-under-pressure-amid-regional-currency-turmoil-169264">against some currencies </a>overseas and a higher opening of domestic equities.

Forex traders said, increased selling of the American currency by exporters and banks and sustained foreign fund inflows also supported the domestic currency.

At the interbank forex market, the rupee opened higher at 71.84 and rose further to quote at 71.74, showing a rise of 16 paise over its previous close.

On Friday, the rupee fell by 22 paise against the dollar to close at 71.90.

Globally, Brent crude, the international benchmark, was trading 0.13 per cent down at $60.36 per barrel.

Meanwhile, on a net basis, foreign funds bought shares worth ₹861.94 crore, while DIIs sold shares to the tune of ₹ 303.52 crores on Friday, provisional data showed.

The rupee appreciated by 16 paise to 71.74 against the US dollar in early trade on Monday at the interbank foreign exchange, amid weakness in the greenback against some currencies overseas and a higher opening of domestic equities.

The rupee appreciated by 16 paise to 71.74 against the US dollar in early trade on Monday at the interbank foreign exchange, amid weakness in the greenback against some currencies overseas and a higher opening of domestic equities. Forex traders said, increased selling of the American currency by exporters and banks and sustained foreign fund inflows also supported the domestic currency. At the interbank forex market, the rupee opened higher at 71.84 and rose further to quote at 71.74, showing a rise of 16 paise over its previous close. On Friday, the rupee fell by 22 paise against the dollar to close at 71.90. Globally, Brent crude, the international benchmark, was trading 0.13 per cent down at $60.36 per barrel. Meanwhile, on a net basis, foreign funds bought shares worth ₹861.94 crore, while DIIs sold shares to the tune of ₹ 303.52 crores on Friday, provisional data showed.

Rupee rises 16 paise to 71.74 against US dollar

The rupee Friday depreciated by 14 paise to 71.82 in early trade on the forex market as the American currency strengthened, while the domestic equity market opened on a weak note.

Forex traders said strengthening of the US dollar against some currencies overseas and caution ahead of RBI central board meeting under new Governor Shaktikanta Das, weighed on the local unit.

At the Interbank Foreign Exchange, the rupee opened on a weak note at 71.80 against the US dollar, then lost further ground and fell to 71.82 showing a decline of 14 paise over it's previous closing.

On Thursday the rupee appreciated by 33 paise to 71.68 per US dollar.

However, fresh foreign fund inflows capped the losses for the domestic unit.

Foreign funds bought shares worth Rs 675.14 crore from the capital markets on a net basis Thursday, while domestic institutional investors sold shares worth Rs 51.86 crore, provisional data showed.

The global benchmark, brent crude oil was trading at $ 61.16 per barrel, lower by 0.47 per cent.

Meanwhile, domestic equity market opened on cautious note. The 30-share BSE benchmark Sensex, was trading at 35,995.07, up 25.43 points in early trade. The wide-based Nifty was also trading with gains of 4.15 points at 10,795.70.

The rupee Friday depreciated by 14 paise to 71.82 in early trade on the forex market as the American currency strengthened, while the domestic equity market opened on a weak note.

The rupee Friday depreciated by 14 paise to 71.82 in early trade on the forex market as the American currency strengthened, while the domestic equity market opened on a weak note. Forex traders said strengthening of the US dollar against some currencies overseas and caution ahead of RBI central board meeting under new Governor Shaktikanta Das, weighed on the local unit. At the Interbank Foreign Exchange, the rupee opened on a weak note at 71.80 against the US dollar, then lost further ground and fell to 71.82 showing a decline of 14 paise over it's previous closing. On Thursday the rupee appreciated by 33 paise to 71.68 per US dollar. However, fresh foreign fund inflows capped the losses for the domestic unit. Foreign funds bought shares worth Rs 675.14 crore from the capital markets on a net basis Thursday, while domestic institutional investors sold shares worth Rs 51.86 crore, provisional data showed. The global benchmark, brent crude oil was trading at $ 61.16 per barrel, lower by 0.47 per cent. Meanwhile, domestic equity market opened on cautious note. The 30-share BSE benchmark Sensex, was trading at 35,995.07, up 25.43 points in early trade. The wide-based Nifty was also trading with gains of 4.15 points at 10,795.70.

Rupee rises 14 paise to 71.82 against US dollar in early trade

The rupee Thursday appreciated by 42 paise to 71.59 in early trade after the new RBI governor Shaktikanta Das took charge and stressed on the need of a consultative approach to tackle pressing economic issues.

Forex traders said a higher opening of domestic equity markets and weakening of the US dollar against some currencies overseas boosted the local unit.

"The new RBI governor's first speech confirms our initial impression that he is likely to be more communicative and consultative in his approach, which is a positive," Japanese financial services major Nomura said in a research note.

At the Interbank Foreign Exchange, the rupee opened on a strong note at 71.70 against the US dollar, then appreciated further to 71.59 showing a rise of 42 paise over it's previous closing.

On Wednesday the rupee had declined by 16 paise to 72.01 per US dollar.

Traders however said that significant foreign fund outflows and rising crude oil prices weighed on the domestic currency and capped the upmove.

Foreign funds sold shares worth Rs 1,299.43 crore from the capital markets on a net basis Wednesday, while domestic institutional investors bought shares worth Rs 1,121.29 crore, provisional data showed.

The global benchmark Brent crude was trading higher by 0.68 per cent at 60.56 per barrel.

Meanwhile, domestic equity market opened on a higher note. The 30-share BSE benchmark <a href="http://www.wionews.com/business-economy/sensex-rises-over-200-points-nifty-reclaims-10800-mark-183603">Sensex,</a> was trading at 35,985.34, up 206.27 points in early trade. The wide-based Nifty was also trading with gains of 61.30 points at 10,798.90.&nbsp;

The rupee Thursday appreciated by 42 paise to 71.59 in early trade after the new RBI governor Shaktikanta Das took charge and stressed on the need of a consultative approach to tackle pressing economic issues.

The rupee Thursday appreciated by 42 paise to 71.59 in early trade after the new RBI governor Shaktikanta Das took charge and stressed on the need of a consultative approach to tackle pressing economic issues. Forex traders said a higher opening of domestic equity markets and weakening of the US dollar against some currencies overseas boosted the local unit. "The new RBI governor's first speech confirms our initial impression that he is likely to be more communicative and consultative in his approach, which is a positive," Japanese financial services major Nomura said in a research note. At the Interbank Foreign Exchange, the rupee opened on a strong note at 71.70 against the US dollar, then appreciated further to 71.59 showing a rise of 42 paise over it's previous closing. On Wednesday the rupee had declined by 16 paise to 72.01 per US dollar. Traders however said that significant foreign fund outflows and rising crude oil prices weighed on the domestic currency and capped the upmove. Foreign funds sold shares worth Rs 1,299.43 crore from the capital markets on a net basis Wednesday, while domestic institutional investors bought shares worth Rs 1,121.29 crore, provisional data showed. The global benchmark Brent crude was trading higher by 0.68 per cent at 60.56 per barrel. Meanwhile, domestic equity market opened on a higher note. The 30-share BSE benchmark Sensex, was trading at 35,985.34, up 206.27 points in early trade. The wide-based Nifty was also trading with gains of 61.30 points at 10,798.90.

Rupee rises 42 paise to 71.59 per US dollar in early trade

The Indian rupee Monday tumbled 50 paise to close at 71.32 against the US dollar as nagging worries on the global trade war front and uncertain crude prices hurt forex market sentiment.

Besides, the trading pattern in the forex market was impacted by massive sell-offs in domestic equities as investors panicked over exit polls suggesting the Congress giving a tough fight to the ruling BJP in state elections.

It was a virtual collapse for the Indian unit during the session as investors hit the panic button in view of several headwinds confronting trading sentiment.

The rupee opened lower at 71.28 against the US dollar and dropped further to 71.44. The Indian unit hit a high of 71.23 during the day.

However, global crude oil declined on Monday, in line with plunging global stock markets, wiping out the gains made last week when cartel OPEC and other non-members agreed to slash their crude production from January.

Brent crude oil was trading at $61.03, a decline of 1.04 per cent.

"Rupee and bond prices were under pressure also due to rising current account deficit...The 10-year government bond yield rose 13 bps at 7.59 per cent from its previous close of 7.464 per cent," an analyst said.

The Indian rupee is likely to face extreme volatility during Tuesday's session amid crucial event of state election results, he added.

Exit polls for the recently concluded assembly elections have predicted a tight finish between the ruling BJP and the Congress in Madhya Pradesh and Chhattisgarh and a win for the opposition party in Rajasthan, impacting trading pattern on the domestic bourses in a big way.

A heightened risk associated with the current account deficit against the grim backdrop of surging global crude prices and global turmoil have all contributed to excess volatility on the trading front.

Escalating global trade tensions could prompt further weakening the domestic currency along with the exodus of capital from a nation also added excess volatility.

The Financial Benchmarks India private limited (FBIL) meanwhile fixed the reference rate for the rupee/dollar at 71.3257 and for the rupee/euro at 81.5738. 
The reference rate for rupee/British pound was fixed at 90.9108 and for rupee/100 Japanese yen at 63.43. 
&nbsp;

The Indian rupee Monday tumbled 50 paise to close at 71.32 against the US dollar as nagging worries on the global trade war front and uncertain crude prices hurt forex market sentiment.

The Indian rupee Monday tumbled 50 paise to close at 71.32 against the US dollar as nagging worries on the global trade war front and uncertain crude prices hurt forex market sentiment. Besides, the trading pattern in the forex market was impacted by massive sell-offs in domestic equities as investors panicked over exit polls suggesting the Congress giving a tough fight to the ruling BJP in state elections. It was a virtual collapse for the Indian unit during the session as investors hit the panic button in view of several headwinds confronting trading sentiment. The rupee opened lower at 71.28 against the US dollar and dropped further to 71.44. The Indian unit hit a high of 71.23 during the day. However, global crude oil declined on Monday, in line with plunging global stock markets, wiping out the gains made last week when cartel OPEC and other non-members agreed to slash their crude production from January. Brent crude oil was trading at $61.03, a decline of 1.04 per cent. "Rupee and bond prices were under pressure also due to rising current account deficit...The 10-year government bond yield rose 13 bps at 7.59 per cent from its previous close of 7.464 per cent," an analyst said. The Indian rupee is likely to face extreme volatility during Tuesday's session amid crucial event of state election results, he added. Exit polls for the recently concluded assembly elections have predicted a tight finish between the ruling BJP and the Congress in Madhya Pradesh and Chhattisgarh and a win for the opposition party in Rajasthan, impacting trading pattern on the domestic bourses in a big way. A heightened risk associated with the current account deficit against the grim backdrop of surging global crude prices and global turmoil have all contributed to excess volatility on the trading front. Escalating global trade tensions could prompt further weakening the domestic currency along with the exodus of capital from a nation also added excess volatility. The Financial Benchmarks India private limited (FBIL) meanwhile fixed the reference rate for the rupee/dollar at 71.3257 and for the rupee/euro at 81.5738. The reference rate for rupee/British pound was fixed at 90.9108 and for rupee/100 Japanese yen at 63.43.

Rupee plunges 50 paise to 71.32 against US dollar

India will retain its position as the world's top recipient of remittances this year with its diaspora sending a whopping US $80 billion back home, the World Bank said in a report Saturday.

India is followed by China (US $67 billion), Mexico and the Philippines (US $34 billion each) and Egypt (US $26 billion), according to the global lender.

With this, India has retained its top spot on remittances, according to the latest edition of the World Bank's Migration and Development Brief.

The Bank estimates that officially-recorded remittances to developing countries will increase by 10.8 per cent to reach US $528 billion in 2018. This new record level follows a robust growth of 7.8 per cent in 2017.

Global remittances, which include flows to high-income countries, are projected to grow by 10.3 per cent to US $689 billion, it said.

Over the last three years, India has registered a significant flow of remittances from US $62.7 billion in 2016 to US $65.3 billion 2017. In 2017, remittances constituted 2.7 per cent of India's GDP, it said.

The Bank said remittances to South Asia are projected to increase by 13.5 per cent to US $132 billion in 2018, a stronger pace than the 5.7 per cent growth seen in 2017.

The upsurge is driven by stronger economic conditions in advanced economies, particularly the US, and the increase in oil prices having a positive impact on outflows from some GCC countries such as the UAE which reported a 13 per cent growth in outflows for the first half of 2018.

Bangladesh and Pakistan both experienced strong upticks of 17.9 per cent and 6.2 per cent in 2018, respectively, the Bank said.

For 2019, it is projected that remittances growth for the region will slow to 4.3 per cent due to a moderation of growth in advanced economies, lower migration to the GCC and the benefits from the oil price spurt dissipating.

The Gulf Cooperation Council (GCC) is a regional inter-governmental political and economic bloc of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE.

As global growth is projected to moderate, future remittances to low- and middle-income countries are expected to grow moderately by four per cent to reach US $549 billion in 2019. Global remittances are expected to grow 3.7 per cent to US $715 billion in 2019.

The Brief notes that the global average cost of sending US $200 remains high at 6.9 per cent in the third quarter of 2018. Reducing remittance flows to three per cent by 2030 is a global target under Sustainable Development Goal (SDG) 10.7.

Increasing the volume of remittances is also a global goal under the proposals for raising financing for the SDGs, it said.

"Even with technological advances, remittances fees remain too high, double the SDG target of 3 per cent. Opening up markets to competition and promoting the use of low-cost technologies will ease the burden on poorer customers," said Mahmoud Mohieldin, Senior Vice President for the 2030 Development Agenda, United Nations Relations, and Partnerships at the Bank.

The average cost of remitting in South Asia was the lowest at 5.4 per cent, while Sub-Saharan Africa continued to have the highest at 9 per cent.

No solutions are yet in sight for practices that drive up costs, such as de-risking action of banks, which lead to closure of bank accounts of remittance service providers.

Another persistent factor that keeps fees high is the exclusive partnership between national post office systems and any single money transfer operator, as it allows the operator to charge higher fees to poorer customers dependent on post offices, the Bank said.

"The future growth of remittances is vulnerable to lower oil prices, restrictive migration policies, and an overall moderation of economic growth.

"Remittances have a direct impact on alleviating poverty for many households, and the World Bank is well positioned to work with countries to facilitate remittance flows," said Michal Rutkowski, Senior Director of the Social Protection and Jobs Global Practice at the World Bank.&nbsp;

India will retain its position as the world's top recipient of remittances this year with its diaspora sending a whopping US $80 billion back home, the World Bank said in a report Saturday.

India will retain its position as the world's top recipient of remittances this year with its diaspora sending a whopping US $80 billion back home, the World Bank said in a report Saturday. India is followed by China (US $67 billion), Mexico and the Philippines (US $34 billion each) and Egypt (US $26 billion), according to the global lender. With this, India has retained its top spot on remittances, according to the latest edition of the World Bank's Migration and Development Brief. The Bank estimates that officially-recorded remittances to developing countries will increase by 10.8 per cent to reach US $528 billion in 2018. This new record level follows a robust growth of 7.8 per cent in 2017. Global remittances, which include flows to high-income countries, are projected to grow by 10.3 per cent to US $689 billion, it said. Over the last three years, India has registered a significant flow of remittances from US $62.7 billion in 2016 to US $65.3 billion 2017. In 2017, remittances constituted 2.7 per cent of India's GDP, it said. The Bank said remittances to South Asia are projected to increase by 13.5 per cent to US $132 billion in 2018, a stronger pace than the 5.7 per cent growth seen in 2017. The upsurge is driven by stronger economic conditions in advanced economies, particularly the US, and the increase in oil prices having a positive impact on outflows from some GCC countries such as the UAE which reported a 13 per cent growth in outflows for the first half of 2018. Bangladesh and Pakistan both experienced strong upticks of 17.9 per cent and 6.2 per cent in 2018, respectively, the Bank said. For 2019, it is projected that remittances growth for the region will slow to 4.3 per cent due to a moderation of growth in advanced economies, lower migration to the GCC and the benefits from the oil price spurt dissipating. The Gulf Cooperation Council (GCC) is a regional inter-governmental political and economic bloc of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. As global growth is projected to moderate, future remittances to low- and middle-income countries are expected to grow moderately by four per cent to reach US $549 billion in 2019. Global remittances are expected to grow 3.7 per cent to US $715 billion in 2019. The Brief notes that the global average cost of sending US $200 remains high at 6.9 per cent in the third quarter of 2018. Reducing remittance flows to three per cent by 2030 is a global target under Sustainable Development Goal (SDG) 10.7. Increasing the volume of remittances is also a global goal under the proposals for raising financing for the SDGs, it said. "Even with technological advances, remittances fees remain too high, double the SDG target of 3 per cent. Opening up markets to competition and promoting the use of low-cost technologies will ease the burden on poorer customers," said Mahmoud Mohieldin, Senior Vice President for the 2030 Development Agenda, United Nations Relations, and Partnerships at the Bank. The average cost of remitting in South Asia was the lowest at 5.4 per cent, while Sub-Saharan Africa continued to have the highest at 9 per cent. No solutions are yet in sight for practices that drive up costs, such as de-risking action of banks, which lead to closure of bank accounts of remittance service providers. Another persistent factor that keeps fees high is the exclusive partnership between national post office systems and any single money transfer operator, as it allows the operator to charge higher fees to poorer customers dependent on post offices, the Bank said. "The future growth of remittances is vulnerable to lower oil prices, restrictive migration policies, and an overall moderation of economic growth. "Remittances have a direct impact on alleviating poverty for many households, and the World Bank is well positioned to work with countries to facilitate remittance flows," said Michal Rutkowski, Senior Director of the Social Protection and Jobs Global Practice at the World Bank.

India to retain top position in remittances with US $80 billion: World Bank

The Indian rupee Friday recuperated by 8 paise to close at 70.82 against the US dollar in line with rally in domestic stocks and positive global cues.

Forex dealers said the local unit recovered lost ground tracking weakness in American dollar against some currencies overseas following reports that the Federal Reserve could slow down its pace of interest rate hikes next year.

At the Interbank Foreign Exchange (forex), the rupee opened on a firm footing at 70.58 against the US dollar and surged further to touch a high of 70.44 during the day.

The local unit finally settled for the day at 70.82, higher by 8 paise over its previous closing price. On Thursday, the rupee fell by 44 paise against the dollar to close at 70.90.

The BSE Sensex rallied 361.12 points, or 1.02 per cent, to close at 35,673.25. Similarly, the broader NSE Nifty jumped 92.55 points, or 0.87 per cent, to 10,693.70.

Meanwhile, Brent crude, the international oil benchmark, was trading 0.52 per cent higher at USD 60.37 per barrel Friday.

The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 70.5663 and for rupee/euro at 80.2245. The reference rate for rupee/British pound was fixed at 90.1212 and for rupee/100 Japanese yen at 62.53.&nbsp;

The Indian rupee Friday recuperated by 8 paise to close at 70.82 against the US dollar in line with rally in domestic stocks and positive global cues. Forex dealers said the local unit recovered lost ground tracking weakness in American dollar against some currencies overseas following reports that the Federal Reserve could slow down its pace of interest rate hikes next year.

The Indian rupee Friday recuperated by 8 paise to close at 70.82 against the US dollar in line with rally in domestic stocks and positive global cues. Forex dealers said the local unit recovered lost ground tracking weakness in American dollar against some currencies overseas following reports that the Federal Reserve could slow down its pace of interest rate hikes next year. At the Interbank Foreign Exchange (forex), the rupee opened on a firm footing at 70.58 against the US dollar and surged further to touch a high of 70.44 during the day. The local unit finally settled for the day at 70.82, higher by 8 paise over its previous closing price. On Thursday, the rupee fell by 44 paise against the dollar to close at 70.90. The BSE Sensex rallied 361.12 points, or 1.02 per cent, to close at 35,673.25. Similarly, the broader NSE Nifty jumped 92.55 points, or 0.87 per cent, to 10,693.70. Meanwhile, Brent crude, the international oil benchmark, was trading 0.52 per cent higher at USD 60.37 per barrel Friday. The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 70.5663 and for rupee/euro at 80.2245. The reference rate for rupee/British pound was fixed at 90.1212 and for rupee/100 Japanese yen at 62.53.

Rupee claws back some lost ground, rises 8 paise against US dollar 

The rupee depreciated by 54 paise and hit the 71 per dollar mark in early trade Thursday amid strengthening American currency and weak opening in the domestic equity market.

Forex traders said the strength of the US dollar against other overseas currencies and foreign fund outflows weighed on the local unit.

At the Interbank Foreign Exchange, the rupee opened weak at Rs 70.82, then fell further to 71 against the American currency, down 54 paise over it's previous closing price.

On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 357.82 crore Wednesday, and domestic institutional investors (DIIs) were net sellers to the tune of Rs 791.59 crore, provisional data available with BSE showed.

Meanwhile, the 30-share Sensex was trading 347.53 points, or 0.97 per cent, lower at 35,536.88 at 1000 hours.&nbsp;

Oil prices extended losses ahead of the meeting of Opec and non-Opec production companies. Brent crude, the international benchmark, was trading 0.83 per cent lower at US $61.05 per barrel.

The rupee depreciated by 54 paise and hit the 71 per dollar mark in early trade Thursday amid strengthening American currency and weak opening in the domestic equity market.

The rupee depreciated by 54 paise and hit the 71 per dollar mark in early trade Thursday amid strengthening American currency and weak opening in the domestic equity market. Forex traders said the strength of the US dollar against other overseas currencies and foreign fund outflows weighed on the local unit. At the Interbank Foreign Exchange, the rupee opened weak at Rs 70.82, then fell further to 71 against the American currency, down 54 paise over it's previous closing price. On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 357.82 crore Wednesday, and domestic institutional investors (DIIs) were net sellers to the tune of Rs 791.59 crore, provisional data available with BSE showed. Meanwhile, the 30-share Sensex was trading 347.53 points, or 0.97 per cent, lower at 35,536.88 at 1000 hours. Oil prices extended losses ahead of the meeting of Opec and non-Opec production companies. Brent crude, the international benchmark, was trading 0.83 per cent lower at US $61.05 per barrel.

Rupee falls 54 paise, touches 71 level against US dollar

The rupee vaulted 77 paise to a three-month high of 69.85 per US dollar Thursday, propelled by easing crude oil prices and fresh foreign capital inflows.

In a major relief to energy importers like India, oil prices slipped below the $60 per dollar mark as investors fretted over a supply glut.

Forex dealers said a bullish trend in the equity market and a weak greenback further propped up the local unit, which racked up gains for the third straight day.

The dollar weakened against some currencies overseas after US Federal Reserve Chairman Jerome Powell said that the central bank's benchmark interest rate is likely near a "neutral level".

At the Interbank Foreign Exchange (forex), the rupee opened on a firm footing at 70.15 against the US dollar. It then breached the crucial 70 per USD mark and rallied to the day's high of 69.78 following dollar selling by exporters.

The local unit finally finished at 69.85, showing a gain of 77 paise over its previous close.

The last time the rupee closed below 70 was on August 24, when it had finished at 69.91.

"The rupee remains firm on account of sharp decline in the crude oil prices in the international market. This is positive for India as decline in crude oil prices may push inflation and current account deficit lower," said Rushabh Maru - Research Analyst, Anand Rathi Shares and Stock Brokers.

He added that there is a lot of uncertainty in the global financial markets and domestic equities are quite volatile too, hence we may see importers rushing to cover their exposure for 2-3 months.

"Near-term range for the rupee is 69.50 to 71.00 levels," he said. 
Sunil Sharma, Chief Investment Officer, Sanctum Wealth Management, said, "The INR appreciated on account of renewed interest by FIIs in India.&nbsp;

After a steep 15 per cent falls in the Rupee earlier this year, the Rupee has bounced back 6 per cent. After pulling out $5 billion cumulatively in September and October, FIIs have bought Indian equities worth $558 million in November."

Globally, Brent crude, the international benchmark, was trading 1.04 per cent down at USD 58.15 per barrel.

The 30-share Sensex surged 453.46 points, or 1.27 per cent, to end at 36,170.41, while the broader NSE Nifty jumped 129.85 points, or 1.21 per cent, to 10,858.70.

Meanwhile, on net basis, foreign funds bought shares worth Rs 823.47 crore, while DIIs purchased share to the tune of Rs 973.31 crore Thursday, provisional data showed.

The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 69.9159 and for rupee/euro at 79.5801. The reference rate for rupee/British pound was fixed at 89.7389 and for rupee/100 Japanese yen at 61.71.

The rupee vaulted 77 paise to a three-month high of 69.85 per US dollar Thursday, propelled by easing crude oil prices and fresh foreign capital inflows. In a major relief to energy importers like India, oil prices slipped below the $60 per dollar mark as investors fretted over a supply glut.

The rupee vaulted 77 paise to a three-month high of 69.85 per US dollar Thursday, propelled by easing crude oil prices and fresh foreign capital inflows. In a major relief to energy importers like India, oil prices slipped below the $60 per dollar mark as investors fretted over a supply glut. Forex dealers said a bullish trend in the equity market and a weak greenback further propped up the local unit, which racked up gains for the third straight day. The dollar weakened against some currencies overseas after US Federal Reserve Chairman Jerome Powell said that the central bank's benchmark interest rate is likely near a "neutral level". At the Interbank Foreign Exchange (forex), the rupee opened on a firm footing at 70.15 against the US dollar. It then breached the crucial 70 per USD mark and rallied to the day's high of 69.78 following dollar selling by exporters. The local unit finally finished at 69.85, showing a gain of 77 paise over its previous close. The last time the rupee closed below 70 was on August 24, when it had finished at 69.91. "The rupee remains firm on account of sharp decline in the crude oil prices in the international market. This is positive for India as decline in crude oil prices may push inflation and current account deficit lower," said Rushabh Maru - Research Analyst, Anand Rathi Shares and Stock Brokers. He added that there is a lot of uncertainty in the global financial markets and domestic equities are quite volatile too, hence we may see importers rushing to cover their exposure for 2-3 months. "Near-term range for the rupee is 69.50 to 71.00 levels," he said. Sunil Sharma, Chief Investment Officer, Sanctum Wealth Management, said, "The INR appreciated on account of renewed interest by FIIs in India. After a steep 15 per cent falls in the Rupee earlier this year, the Rupee has bounced back 6 per cent. After pulling out $5 billion cumulatively in September and October, FIIs have bought Indian equities worth $558 million in November." Globally, Brent crude, the international benchmark, was trading 1.04 per cent down at USD 58.15 per barrel. The 30-share Sensex surged 453.46 points, or 1.27 per cent, to end at 36,170.41, while the broader NSE Nifty jumped 129.85 points, or 1.21 per cent, to 10,858.70. Meanwhile, on net basis, foreign funds bought shares worth Rs 823.47 crore, while DIIs purchased share to the tune of Rs 973.31 crore Thursday, provisional data showed. The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 69.9159 and for rupee/euro at 79.5801. The reference rate for rupee/British pound was fixed at 89.7389 and for rupee/100 Japanese yen at 61.71.

Rupee soars 77 paise, breaches 70 per US dollar mark after 3 months

The rupee depreciated by 15 paise to 71.02 against the US dollar in early trade Tuesday at the interbank foreign exchange, after US President Donald Trump suggested a tariff hike on Chinese goods.

The domestic unit opened weak in line with other Asian currencies after Trump Monday said that for any trade deal China has to treat his country "fairly".

"Here's what the bottom line is: China has to treat us fairly. They haven't been. They have to treat us fairly," Trump told reporters at the White House.

At the interbank forex market, the rupee opened lower at 70.91 and declined further to quote at 71.02, showing a fall of 15 paise over its previous close.

The rupee Monday fell by 18 paise to close at 70.87 against the US dollar.

Forex dealers said fresh demand for the American currency from importers amid a marginal rise in crude prices weighed on the domestic unit.

The international benchmark, Brent crude was trading higher by 0.28 per cent to USD 60.65 per barrel.

Traders said, fresh foreign inflows restricted the decline in the local unit.

Foreign institutional investors (FIIs) made fresh purchases worth Rs 62.74 crore Monday, as per provisional data.&nbsp;

Meanwhile, the 30-share Sensex was trading 27.28 points, or 0.08 per cent, lower at 35,326.80. The NSE Nifty too witnessed similar movement and was trading 18.70 points, or 0.18 per cent, lower at 10,609.90.

The rupee depreciated by 15 paise to 71.02 against the US dollar in early trade Tuesday at the interbank foreign exchange, after US President Donald Trump suggested a tariff hike on Chinese goods.

The rupee depreciated by 15 paise to 71.02 against the US dollar in early trade Tuesday at the interbank foreign exchange, after US President Donald Trump suggested a tariff hike on Chinese goods. The domestic unit opened weak in line with other Asian currencies after Trump Monday said that for any trade deal China has to treat his country "fairly". "Here's what the bottom line is: China has to treat us fairly. They haven't been. They have to treat us fairly," Trump told reporters at the White House. At the interbank forex market, the rupee opened lower at 70.91 and declined further to quote at 71.02, showing a fall of 15 paise over its previous close. The rupee Monday fell by 18 paise to close at 70.87 against the US dollar. Forex dealers said fresh demand for the American currency from importers amid a marginal rise in crude prices weighed on the domestic unit. The international benchmark, Brent crude was trading higher by 0.28 per cent to USD 60.65 per barrel. Traders said, fresh foreign inflows restricted the decline in the local unit. Foreign institutional investors (FIIs) made fresh purchases worth Rs 62.74 crore Monday, as per provisional data. Meanwhile, the 30-share Sensex was trading 27.28 points, or 0.08 per cent, lower at 35,326.80. The NSE Nifty too witnessed similar movement and was trading 18.70 points, or 0.18 per cent, lower at 10,609.90.

Rupee sheds 15 paise after Trump suggests raising tariffs on Chinese imports

Rising for the eighth straight day, the rupee climbed 39 paise to 70.30 against the US dollar in early trade Monday, as global crude prices slipped below the $60 per barrel mark.

Traders said the weakness in the greenback against some currencies overseas and a higher opening of domestic equities supported the rupee.

At the interbank forex market, the rupee opened higher at 70.48 and rose further to quote at 70.30, showing a rise of 39 paise over its previous close.

The rupee had rallied 77 paise to end at 70.69 against the US dollar Thursday, in lock-step with softening crude oil prices and foreign capital inflows.

The forex market was closed Friday on account of Gurunanak Jayanti.

In the last seven trading sessions, the rupee has gained a healthy 220 paise.

Forex traders said the uptrend in the local unit was largely driven by foreign funds inflows to capital markets and softening crude oil prices.

Foreign funds poured in Rs 446.24 crore into the capital markets on a net basis Thursday, while domestic institutional investors also net bought shares worth Rs 49.68 crore, provisional data showed.

Globally, Brent crude, the international benchmark, slipped below the $60 per barrel mark and was trading at $59.47 per barrel Monday.

Meanwhile, the benchmark BSE Sensex opened on a positive note higher by 137.07 points, at 35,118.09 in opening trade.

Rising for the eighth straight day, the rupee climbed 39 paise to 70.30 against the US dollar in early trade Monday, as global crude prices slipped below the $60 per barrel mark.

Rising for the eighth straight day, the rupee climbed 39 paise to 70.30 against the US dollar in early trade Monday, as global crude prices slipped below the $60 per barrel mark. Traders said the weakness in the greenback against some currencies overseas and a higher opening of domestic equities supported the rupee. At the interbank forex market, the rupee opened higher at 70.48 and rose further to quote at 70.30, showing a rise of 39 paise over its previous close. The rupee had rallied 77 paise to end at 70.69 against the US dollar Thursday, in lock-step with softening crude oil prices and foreign capital inflows. The forex market was closed Friday on account of Gurunanak Jayanti. In the last seven trading sessions, the rupee has gained a healthy 220 paise. Forex traders said the uptrend in the local unit was largely driven by foreign funds inflows to capital markets and softening crude oil prices. Foreign funds poured in Rs 446.24 crore into the capital markets on a net basis Thursday, while domestic institutional investors also net bought shares worth Rs 49.68 crore, provisional data showed. Globally, Brent crude, the international benchmark, slipped below the $60 per barrel mark and was trading at $59.47 per barrel Monday. Meanwhile, the benchmark BSE Sensex opened on a positive note higher by 137.07 points, at 35,118.09 in opening trade.

Rupee rises 39 paise to 70.30 against US dollar in early trade

Congress leader Raj Babbar's remark comparing the rupee's falling value against the US dollar with the age of Prime Minister Narendra Modi's mother kicked up a controversy on Friday, with the BJP demanding an apology from the opposition party's president Rahul Gandhi.

Babbar made the controversial remark while addressing a rally in poll-bound Madhya Pradesh's Indore city on Thursday. Madhya Pradesh goes to polls on November 28 and results will be declared on December 11.

"(Before becoming the prime minister) Modi used to say that compared to the (US) dollar, the value of the rupee has fallen to a level where it is almost the same as the age of the then Prime Minister (Manmohan Singh)," Babbar, the Uttar Pradesh Congress chief, said.

"Mr Prime Minister, at that time, you had not taken his (Manmohan Singh) name out of respect. Although our tradition does not allow this, we wish to say that now the value of the rupee has fallen to the age of your respected mother," he added.

Modi's mother, Hiraba, is a nonagenarian.

The rupee has seen a continued fall against the US dollar this year, hovering a little over the 70-mark on Friday.

The BJP condemned Babbar's remark.

The party's national spokesperson Sambit Patra said it was not proper to use unparliamentary words or drag any person's mother into politics.

"But the Congress' attitude against the Prime Minister's mother has been improper from the beginning and such language was used even against the Prime Minister," Patra claimed.

"Rahul Gandhi should apologise and he should clarify whether he endorses such controversial statements," he said.&nbsp;

Congress leader Raj Babbar's remark comparing the rupee's falling value against the US dollar with the age of Prime Minister Narendra Modi's mother kicked up a controversy on Friday, with the BJP demanding an apology from the opposition party's president Rahul Gandhi.

Congress leader Raj Babbar's remark comparing the rupee's falling value against the US dollar with the age of Prime Minister Narendra Modi's mother kicked up a controversy on Friday, with the BJP demanding an apology from the opposition party's president Rahul Gandhi. Babbar made the controversial remark while addressing a rally in poll-bound Madhya Pradesh's Indore city on Thursday. Madhya Pradesh goes to polls on November 28 and results will be declared on December 11. "(Before becoming the prime minister) Modi used to say that compared to the (US) dollar, the value of the rupee has fallen to a level where it is almost the same as the age of the then Prime Minister (Manmohan Singh)," Babbar, the Uttar Pradesh Congress chief, said. "Mr Prime Minister, at that time, you had not taken his (Manmohan Singh) name out of respect. Although our tradition does not allow this, we wish to say that now the value of the rupee has fallen to the age of your respected mother," he added. Modi's mother, Hiraba, is a nonagenarian. The rupee has seen a continued fall against the US dollar this year, hovering a little over the 70-mark on Friday. The BJP condemned Babbar's remark. The party's national spokesperson Sambit Patra said it was not proper to use unparliamentary words or drag any person's mother into politics. "But the Congress' attitude against the Prime Minister's mother has been improper from the beginning and such language was used even against the Prime Minister," Patra claimed. "Rahul Gandhi should apologise and he should clarify whether he endorses such controversial statements," he said.

Babbar compares rupee's falling value with age of Modi's mother, BJP demands apology

The rupee rose by 21 paise to end at 71.46 against the US dollar Tuesday on increased selling of the greenback by exporters amid softening crude oil prices, and persistent foreign fund inflows.

This is the sixth straight session of gains for the domestic unit as the US dollar weakened against some currencies overseas. In the last six trading sessions, the rupee has gained 143 paise.

"Domestic currency strengthened for a sixth day after RBI's OMOs supported rupee's rise that has been set off by declining oil prices and continued capital inflows. The appreciation has happened even as Dollar fell to a two week low following Fed's cautious comments over a potential global slow down," Anand James, Chief Market Strategist at Geojit Financial Services, said.

The Reserve Bank Monday said it will inject Rs 8,000 crore into the system through the purchase of government securities on November 22.

At the Interbank Foreign Exchange (forex), the rupee opened on a firm note at 71.39. It gained further ground to hit a high of 71.27, following dollar selling by exporters.

The local unit, however, pared the initial gains and finally settled the day at 71.46 to the US dollar, up 21 paise.

On Monday, the rupee had increased by 26 paise to close at a 10-week high of 71.67 against the US currency.

Forex traders said the uptrend in the local unit was largely driven by foreign funds inflows to capital markets.

Foreign institutional investors (FIIs), made fresh purchases worth Rs 1,103.36 crore Monday, as per provisional data.

Meanwhile, the Reserve Bank and the government Monday agreed to refer to an expert committee the contentious issue of the appropriate size of reserves that the RBI must hold, while restructuring of stressed loans of small businesses would be considered by the central bank.

Globally, Brent crude, the international benchmark, was trading at USD 66.56 per barrel Tuesday.

The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 71.3276 and for rupee/euro at 81.6867. The reference rate for rupee/British pound was fixed at 91.7197 and for rupee/100 Japanese yen at 63.40.

Meanwhile, the Sensex fell over 300 points or 0.84 per cent, to 35,474.51 on heavy selling by market participants, in step with a global selloff. The 50-share NSE Nifty too dropped by 107.20 points, or 1 per cent, to 10,656.20.&nbsp;

The rupee rose by 21 paise to end at 71.46 against the US dollar Tuesday on increased selling of the greenback by exporters amid softening crude oil prices, and persistent foreign fund inflows.

The rupee rose by 21 paise to end at 71.46 against the US dollar Tuesday on increased selling of the greenback by exporters amid softening crude oil prices, and persistent foreign fund inflows. This is the sixth straight session of gains for the domestic unit as the US dollar weakened against some currencies overseas. In the last six trading sessions, the rupee has gained 143 paise. "Domestic currency strengthened for a sixth day after RBI's OMOs supported rupee's rise that has been set off by declining oil prices and continued capital inflows. The appreciation has happened even as Dollar fell to a two week low following Fed's cautious comments over a potential global slow down," Anand James, Chief Market Strategist at Geojit Financial Services, said. The Reserve Bank Monday said it will inject Rs 8,000 crore into the system through the purchase of government securities on November 22. At the Interbank Foreign Exchange (forex), the rupee opened on a firm note at 71.39. It gained further ground to hit a high of 71.27, following dollar selling by exporters. The local unit, however, pared the initial gains and finally settled the day at 71.46 to the US dollar, up 21 paise. On Monday, the rupee had increased by 26 paise to close at a 10-week high of 71.67 against the US currency. Forex traders said the uptrend in the local unit was largely driven by foreign funds inflows to capital markets. Foreign institutional investors (FIIs), made fresh purchases worth Rs 1,103.36 crore Monday, as per provisional data. Meanwhile, the Reserve Bank and the government Monday agreed to refer to an expert committee the contentious issue of the appropriate size of reserves that the RBI must hold, while restructuring of stressed loans of small businesses would be considered by the central bank. Globally, Brent crude, the international benchmark, was trading at USD 66.56 per barrel Tuesday. The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 71.3276 and for rupee/euro at 81.6867. The reference rate for rupee/British pound was fixed at 91.7197 and for rupee/100 Japanese yen at 63.40. Meanwhile, the Sensex fell over 300 points or 0.84 per cent, to 35,474.51 on heavy selling by market participants, in step with a global selloff. The 50-share NSE Nifty too dropped by 107.20 points, or 1 per cent, to 10,656.20.

Rupee gains for 6th straight session, rises 21 paise

The rupee firmed 10 paise to 71.87 against the US dollar Friday on increased selling of the US currency by exporters and banks.

Besides, weakness in the greenback against some currencies overseas, increased foreign fund inflows and a higher opening of domestic equities supported the rupee, traders said.

Foreign funds bought shares worth a net of Rs 2,043.06 crore Thursday, as per provisional data.

At the interbank forex market, the rupee opened higher at 71.94, and advanced 10 paise to 71.87 against the US dollar.

The rupee had vaulted 34 paise to close at a two-month high of 71.97 against the US dollar Thursday on robust foreign fund inflows amid low crude oil prices.

Meanwhile, the benchmark BSE Sensex rose 96.29 points, or 0.28 per cent, to 35,356.83 in early session Friday.

The rupee firmed 10 paise to 71.87 against the US dollar Friday on increased selling of the US currency by exporters and banks. Besides, weakness in the greenback against some currencies overseas, increased foreign fund inflows and a higher opening of domestic equities supported the rupee, traders said.

The rupee firmed 10 paise to 71.87 against the US dollar Friday on increased selling of the US currency by exporters and banks. Besides, weakness in the greenback against some currencies overseas, increased foreign fund inflows and a higher opening of domestic equities supported the rupee, traders said. Foreign funds bought shares worth a net of Rs 2,043.06 crore Thursday, as per provisional data. At the interbank forex market, the rupee opened higher at 71.94, and advanced 10 paise to 71.87 against the US dollar. The rupee had vaulted 34 paise to close at a two-month high of 71.97 against the US dollar Thursday on robust foreign fund inflows amid low crude oil prices. Meanwhile, the benchmark BSE Sensex rose 96.29 points, or 0.28 per cent, to 35,356.83 in early session Friday.

Rupee rises 10 paise against US dollar to 71.87

The rupee appreciated 24 paise to 72.07 against the US dollar at the interbank foreign exchange Thursday on fresh foreign fund inflows and easing crude oil prices.

Foreign institutional investors (FIIs) bought shares worth Rs 277.38 crore Wednesday, provisional data showed.

Dealers said the strength in the rupee was also supported by increased selling of dollars by exporters and the American currency's weakness against some currencies overseas.

A higher opening of the domestic equity market too influenced the rupee, they said.

The benchmark BSE Sensex was up 67.09 points, or 0.19 per cent, to quote at 35,209.08 in early trade.&nbsp;

The rupee had gained 36 paise to end at 72.31 against the US dollar Wednesday as global crude oil prices hovered near one-year lows, easing concerns over expanding current account deficit and inflation.

Brent crude, the international benchmark, fell eased by 0.47 per cent to $65.81 a barrel.

The rupee appreciated 24 paise to 72.07 against the US dollar at the interbank foreign exchange Thursday on fresh foreign fund inflows and easing crude oil prices.

The rupee appreciated 24 paise to 72.07 against the US dollar at the interbank foreign exchange Thursday on fresh foreign fund inflows and easing crude oil prices. Foreign institutional investors (FIIs) bought shares worth Rs 277.38 crore Wednesday, provisional data showed. Dealers said the strength in the rupee was also supported by increased selling of dollars by exporters and the American currency's weakness against some currencies overseas. A higher opening of the domestic equity market too influenced the rupee, they said. The benchmark BSE Sensex was up 67.09 points, or 0.19 per cent, to quote at 35,209.08 in early trade. The rupee had gained 36 paise to end at 72.31 against the US dollar Wednesday as global crude oil prices hovered near one-year lows, easing concerns over expanding current account deficit and inflation. Brent crude, the international benchmark, fell eased by 0.47 per cent to $65.81 a barrel.

Rupee rises 24 paise against US dollar on fresh fund inflow, easing crude prices

The rupee depreciated 34 paise to 72.79 against the US dollar in early trade at the interbank forex market Monday on foreign fund outflows.

The rupee opened lower at 72.76 per dollar against the previous close of 72.45 and dropped further to quote 34 paise down at 72.79 in opening trade.

Traders said increased demand for the US currency from importers and losses in the domestic equity market weighed on the rupee.

Besides, the dollar trading higher against some currencies overseas too put pressure on the rupee, they added.

The rupee on Friday clocked its biggest single-day gain in over five years, surging by 100 paise to close at 72.45 against the US dollar on easing crude oil prices.

The benchmark BSE Sensex fall 100.54 points, or 0.29 per cent, to 34,911.11 in the opening session.&nbsp;

The rupee depreciated 34 paise to 72.79 against the US dollar in early trade at the interbank forex market Monday on foreign fund outflows. The rupee opened lower at 72.

The rupee depreciated 34 paise to 72.79 against the US dollar in early trade at the interbank forex market Monday on foreign fund outflows. The rupee opened lower at 72.76 per dollar against the previous close of 72.45 and dropped further to quote 34 paise down at 72.79 in opening trade. Traders said increased demand for the US currency from importers and losses in the domestic equity market weighed on the rupee. Besides, the dollar trading higher against some currencies overseas too put pressure on the rupee, they added. The rupee on Friday clocked its biggest single-day gain in over five years, surging by 100 paise to close at 72.45 against the US dollar on easing crude oil prices. The benchmark BSE Sensex fall 100.54 points, or 0.29 per cent, to 34,911.11 in the opening session.

Rupee falls 34 paise against US dollar in early trade

The rupee appreciated 31 paise to 73.14 against the dollar at the interbank foreign exchange Friday after crude prices fell to seven-month lows in the global market amid fresh foreign fund inflows.

The rise was also supported by dollar-selling by exporters and banks and the US unit's weakness against some currencies overseas, traders said.

They said a higher opening in the domestic equity market too supported the rupee.

Brent crude, the international benchmark, dropped 3.48 per cent to trade at a seven-month low of $ 72.65 per barrel on higher supply from world's major producers.

The rupee had gained 50 paise to close at 73.45 against the US dollar Thursday, posting its biggest single-session spurt in three weeks on increased selling of the greenback by exporters, softening crude oil prices and upbeat economic numbers.

Foreign institutional investors (FIIs), which had been selling on Indian bourses, made fresh purchases worth Rs 348.75 crore Thursday, as per provisional data.

Meanwhile, the benchmark BSE Sensex rose 271.38 points, 0.81 per cent, to trade at 34,703.35 in early trade.

The rupee appreciated 31 paise to 73.14 against the dollar at the interbank foreign exchange Friday after crude prices fell to seven-month lows in the global market amid fresh foreign fund inflows.

The rupee appreciated 31 paise to 73.14 against the dollar at the interbank foreign exchange Friday after crude prices fell to seven-month lows in the global market amid fresh foreign fund inflows. The rise was also supported by dollar-selling by exporters and banks and the US unit's weakness against some currencies overseas, traders said. They said a higher opening in the domestic equity market too supported the rupee. Brent crude, the international benchmark, dropped 3.48 per cent to trade at a seven-month low of $ 72.65 per barrel on higher supply from world's major producers. The rupee had gained 50 paise to close at 73.45 against the US dollar Thursday, posting its biggest single-session spurt in three weeks on increased selling of the greenback by exporters, softening crude oil prices and upbeat economic numbers. Foreign institutional investors (FIIs), which had been selling on Indian bourses, made fresh purchases worth Rs 348.75 crore Thursday, as per provisional data. Meanwhile, the benchmark BSE Sensex rose 271.38 points, 0.81 per cent, to trade at 34,703.35 in early trade.

Rupee rises 31 paise against US dollar on falling crude prices

The rupee dropped by 43 paise to 74.11 against the US dollar in early trade Wednesday, amid increased demand of the American currencies from importers and sustained foreign fund outflows.

Forex traders said, the US dollar's strength against some currencies overseas and concerns around the rift between the government and the RBI also weighed on the local unit.

At the interbank foreign exchange, after opening lower at 73.91, rupee weakened further to quote at 74.11 against the dollar registering a fall of 43 paise over its pervious close.

The rupee Tuesday depreciated 23 paise to close at 73.68 against the US dollar.

A stable crude oil prices, however, restricted the rupee fall to some extent, forex traders said.

Globally, Brent crude, the international benchmark, was trading 0.62 per cent up at US $76.38 per barrel.

Meanwhile, the Reserve Bank of India has said that it will inject Rs 40,000 crore into the system in November by buying government bonds through open market operations (OMO) for maintaining liquidity in the market.

On a net basis, foreign investors pulled out Rs 1,592.02 crore from equity markets Tuesday, as per provisional data.

Meanwhile, the benchmark BSE Sensex opened on a higher note up 158.99 points, but soon pared the gains and was trading at 33,627.83, down 263.30 points or 0.78 per cent at 1020 hrs.

The rupee dropped by 43 paise to 74.11 against the US dollar in early trade Wednesday, amid increased demand of the American currencies from importers and sustained foreign fund outflows.

The rupee dropped by 43 paise to 74.11 against the US dollar in early trade Wednesday, amid increased demand of the American currencies from importers and sustained foreign fund outflows. Forex traders said, the US dollar's strength against some currencies overseas and concerns around the rift between the government and the RBI also weighed on the local unit. At the interbank foreign exchange, after opening lower at 73.91, rupee weakened further to quote at 74.11 against the dollar registering a fall of 43 paise over its pervious close. The rupee Tuesday depreciated 23 paise to close at 73.68 against the US dollar. A stable crude oil prices, however, restricted the rupee fall to some extent, forex traders said. Globally, Brent crude, the international benchmark, was trading 0.62 per cent up at US $76.38 per barrel. Meanwhile, the Reserve Bank of India has said that it will inject Rs 40,000 crore into the system in November by buying government bonds through open market operations (OMO) for maintaining liquidity in the market. On a net basis, foreign investors pulled out Rs 1,592.02 crore from equity markets Tuesday, as per provisional data. Meanwhile, the benchmark BSE Sensex opened on a higher note up 158.99 points, but soon pared the gains and was trading at 33,627.83, down 263.30 points or 0.78 per cent at 1020 hrs.

Rupee falls 43 paise to 74.11 against the US dollar in early trade

The rupee weakened by 16 paise to 73.61 against the US dollar in early trade Tuesday, amid increased demand of the American currencies from importers and sustained foreign fund outflows.

Traders said the US dollar's strength against some currencies overseas and a lower opening in the domestic equity markets also weighed on the local unit.

At the interbank foreign exchange, after opening lower at 73.58, rupee weakened further to quote at 73.61 against the dollar registering a fall of 16 paise over its pervious close.

The rupee ended almost flat at 73.45 against the US dollar Monday.

The dollar's weakness against some currencies overseas and easing crude oil prices, however, restricted the rupee fall, forex traders said.

Globally, Brent crude, the international benchmark, was trading 0.36 per cent down at USD 77.06 per barrel.

On a net basis, foreign investors pulled out Rs 2,230.79 crore from equity markets Monday, as per provisional data.

Meanwhile, the benchmark BSE Sensex plunged 135.93 points, to 33,931.47 in the opening trade.

The rupee weakened by 16 paise to 73.61 against the US dollar in early trade Tuesday, amid increased demand of the American currencies from importers and sustained foreign fund outflows.

The rupee weakened by 16 paise to 73.61 against the US dollar in early trade Tuesday, amid increased demand of the American currencies from importers and sustained foreign fund outflows. Traders said the US dollar's strength against some currencies overseas and a lower opening in the domestic equity markets also weighed on the local unit. At the interbank foreign exchange, after opening lower at 73.58, rupee weakened further to quote at 73.61 against the dollar registering a fall of 16 paise over its pervious close. The rupee ended almost flat at 73.45 against the US dollar Monday. The dollar's weakness against some currencies overseas and easing crude oil prices, however, restricted the rupee fall, forex traders said. Globally, Brent crude, the international benchmark, was trading 0.36 per cent down at USD 77.06 per barrel. On a net basis, foreign investors pulled out Rs 2,230.79 crore from equity markets Monday, as per provisional data. Meanwhile, the benchmark BSE Sensex plunged 135.93 points, to 33,931.47 in the opening trade.

Rupee falls 16 paise to 73.61 against US dollar in early trade

Continuing its slide, the rupee weakened by 3 paise to 73.64 against the US dollar Friday due to increased demand for the American currency from importers.

At the Interbank Foreign Exchange, the rupee opened lower at 73.62 and slipped further to 73.64 against the dollar, showing a fall of 3 paise.

Traders said besides sustained demand of the US currency from importers, a lower opening in the domestic equity markets also weighed on the local unit.

The losses in the domestic currency were however limited as the US dollar weakened against some currencies overseas.

On Wednesday, the local currency had ended lower by 13 paise to 73.61 against the US dollar.

Forex market remained shut on Thursday on account of "Dussehra".

Meanwhile, on a net basis, foreign funds bought shares worth Rs 140.02 crore, while domestic institutional investors sold shares to the tune of Rs 343.11 crore Wednesday, provisional data showed.

The benchmark BSE Sensex fell 408.45 points, or 1.17 per cent, to 34,371.13 in the opening trade.&nbsp;

Continuing its slide, the rupee weakened by 3 paise to 73.64 against the US dollar Friday due to increased demand for the American currency from importers. At the Interbank Foreign Exchange, the rupee opened lower at 73.

Continuing its slide, the rupee weakened by 3 paise to 73.64 against the US dollar Friday due to increased demand for the American currency from importers. At the Interbank Foreign Exchange, the rupee opened lower at 73.62 and slipped further to 73.64 against the dollar, showing a fall of 3 paise. Traders said besides sustained demand of the US currency from importers, a lower opening in the domestic equity markets also weighed on the local unit. The losses in the domestic currency were however limited as the US dollar weakened against some currencies overseas. On Wednesday, the local currency had ended lower by 13 paise to 73.61 against the US dollar. Forex market remained shut on Thursday on account of "Dussehra". Meanwhile, on a net basis, foreign funds bought shares worth Rs 140.02 crore, while domestic institutional investors sold shares to the tune of Rs 343.11 crore Wednesday, provisional data showed. The benchmark BSE Sensex fell 408.45 points, or 1.17 per cent, to 34,371.13 in the opening trade.

Rupee falls 3 paise to 73.64 against US dollar in early trade

The rupee weakened by 9 paise to 73.92 against the US dollar in early trade Tuesday on increased demand for the American currency from banks and importers.

At the Interbank Foreign Exchange, the domestic currency opened higher at 73.79 but lost ground and fell to 73.92.

Dealers attributed the rupee's fall to the dollar's strength against some other currencies overseas but fresh inflows by foreign funds and a higher opening in domestic equity markets, capped the losses.

Moreover, weak exports data also dampened sentiments in the forex market. India's exports entered the negative zone after five months, contracting 2.15 per cent in September to $27.95 billion, according to commerce ministry data.

The rupee had lost 26 paise to close at 73.83 Monday after crude prices rose amid intensifying geopolitical tensions.

The benchmark BSE Sensex Tuesday rose by 89.17 points, or 0.26 per cent to trade at 34,954.27.

Meanwhile, foreign portfolio investors bought shares worth Rs 67.86 crore on net basis from stock markets on Monday, according to the BSE data.

The rupee weakened by 9 paise to 73.92 against the US dollar in early trade Tuesday on increased demand for the American currency from banks and importers. At the Interbank Foreign Exchange, the domestic currency opened higher at 73.

The rupee weakened by 9 paise to 73.92 against the US dollar in early trade Tuesday on increased demand for the American currency from banks and importers. At the Interbank Foreign Exchange, the domestic currency opened higher at 73.79 but lost ground and fell to 73.92. Dealers attributed the rupee's fall to the dollar's strength against some other currencies overseas but fresh inflows by foreign funds and a higher opening in domestic equity markets, capped the losses. Moreover, weak exports data also dampened sentiments in the forex market. India's exports entered the negative zone after five months, contracting 2.15 per cent in September to $27.95 billion, according to commerce ministry data. The rupee had lost 26 paise to close at 73.83 Monday after crude prices rose amid intensifying geopolitical tensions. The benchmark BSE Sensex Tuesday rose by 89.17 points, or 0.26 per cent to trade at 34,954.27. Meanwhile, foreign portfolio investors bought shares worth Rs 67.86 crore on net basis from stock markets on Monday, according to the BSE data.

Rupee softens 9 paise against US dollar in early trade

Continuing its recovery, the rupee Friday strengthened 38 paise to 73.74 against the US dollar in early trade in the forex market after global crude prices eased.

Besides, dollar-selling by exporters and banks, the greenback's weakness against some currencies overseas, helped the recovery in the domestic currency.

Brent crude fell 3 per cent to trade at 80.37 a barrel in the global market.

Forex dealers said a higher opening in the equity market also supported the rupee's sentiment.

The local unit, after hitting a record low of 74.50 Thursday, recovered 9 paise to end at 74.12 against the dollar.

Meanwhile, the BSE benchmark Sensex rebounded 377.12 points, or 1.11 per cent, to 34,378.27 in opening trade. 
&nbsp;

Continuing its recovery, the rupee Friday strengthened 38 paise to 73.74 against the US dollar in early trade in the forex market after global crude prices eased.

Continuing its recovery, the rupee Friday strengthened 38 paise to 73.74 against the US dollar in early trade in the forex market after global crude prices eased. Besides, dollar-selling by exporters and banks, the greenback's weakness against some currencies overseas, helped the recovery in the domestic currency. Brent crude fell 3 per cent to trade at 80.37 a barrel in the global market. Forex dealers said a higher opening in the equity market also supported the rupee's sentiment. The local unit, after hitting a record low of 74.50 Thursday, recovered 9 paise to end at 74.12 against the dollar. Meanwhile, the BSE benchmark Sensex rebounded 377.12 points, or 1.11 per cent, to 34,378.27 in opening trade.

Rupee strengthens 38 paise against US dollar

The rupee made a cautious recovery of 18 paise to 73.88 against the US dollar Tuesday on fresh selling of the American currency by banks and exporters.

Besides, the dollar's overseas weakness, easing global crude oil price and higher opening in the domestic stock market supported recovery in the domestic unit, traders said.

At the forex market, the local currency was trading 18 paise higher at 73.88 in early trade.

The International Monetary Fund's forecast of a growth rate of 7.3 per cent for India in the current year of 2018 and that of 7.4 per cent in 2019, too, boosted investor sentiment here.

In the previous session Monday, the rupee slumped 30 paise to finish at a fresh lifetime low of 74.06 against the US dollar.

Meanwhile, the benchmark Sensex rose by 72.04 points, or 0.21 per cent, to 34,546.42 in opening trade.

The rupee made a cautious recovery of 18 paise to 73.88 against the US dollar Tuesday on fresh selling of the American currency by banks and exporters. Besides, the dollar's overseas weakness, easing global crude oil price and higher opening in the domestic stock market supported recovery in the domestic unit, traders said.

The rupee made a cautious recovery of 18 paise to 73.88 against the US dollar Tuesday on fresh selling of the American currency by banks and exporters. Besides, the dollar's overseas weakness, easing global crude oil price and higher opening in the domestic stock market supported recovery in the domestic unit, traders said. At the forex market, the local currency was trading 18 paise higher at 73.88 in early trade. The International Monetary Fund's forecast of a growth rate of 7.3 per cent for India in the current year of 2018 and that of 7.4 per cent in 2019, too, boosted investor sentiment here. In the previous session Monday, the rupee slumped 30 paise to finish at a fresh lifetime low of 74.06 against the US dollar. Meanwhile, the benchmark Sensex rose by 72.04 points, or 0.21 per cent, to 34,546.42 in opening trade.

Rupee recovers 18 paise against US dollar at Rs 73.88

The rupee slumped by 33 paise to finish at a fresh lifetime low of 74.39 against the US dollar Tuesday on high crude oil prices, strengthening of the greenback and unabated foreign fund outflows.

At the Interbank Foreign Exchange (Forex), the rupee made a cautious recovery of 18 paise to 73.88 against the US dollar in early trade on fresh selling of the American currency by banks and exporters.

However, the domestic currency failed to sustain the momentum after Brent crude breached the USD 84 per barrel-mark again and the US dollar strengthened overseas.

It finally closed at 74.39 against the US dollar, down by 33 paise, marking its sixth straight session of decline.

On Monday, the domestic unit plummeted by 30 paise to close at record low of 74.06.

The rupee slumped by 33 paise to finish at a fresh lifetime low of 74.39 against the US dollar Tuesday on high crude oil prices, strengthening of the greenback and unabated foreign fund outflows.

The rupee slumped by 33 paise to finish at a fresh lifetime low of 74.39 against the US dollar Tuesday on high crude oil prices, strengthening of the greenback and unabated foreign fund outflows. At the Interbank Foreign Exchange (Forex), the rupee made a cautious recovery of 18 paise to 73.88 against the US dollar in early trade on fresh selling of the American currency by banks and exporters. However, the domestic currency failed to sustain the momentum after Brent crude breached the USD 84 per barrel-mark again and the US dollar strengthened overseas. It finally closed at 74.39 against the US dollar, down by 33 paise, marking its sixth straight session of decline. On Monday, the domestic unit plummeted by 30 paise to close at record low of 74.06.

Rupee slumps 33 paise to close at record low of 74.39

The rupee recovered 6 paise to 73.52 against the US dollar at the forex market Friday ahead of the RBI's monetary policy outcome amid fresh selling by exporters as the government stepped in to reduce oil prices, reported news agency PTI.

Dealers said besides fresh selling of the US dollar by exporters, the greenback's weakness against some currencies overseas supported the rupee, the report added.

The domestic currency closed at a record low of 73.58, down by 24 paise or 0.33 per cent on Thursday, marking its third straight session of losses.

Meanwhile, the benchmark BSE Sensex dropped by 231.16 points, or 0.66 per cent, to 34,938 in opening trade.

The rupee recovered 6 paise to 73.52 against the US dollar at the forex market Friday ahead of the RBI's monetary policy outcome amid fresh selling by exporters as the government stepped in to reduce oil prices, reported news agency PTI.

The rupee recovered 6 paise to 73.52 against the US dollar at the forex market Friday ahead of the RBI's monetary policy outcome amid fresh selling by exporters as the government stepped in to reduce oil prices, reported news agency PTI. Dealers said besides fresh selling of the US dollar by exporters, the greenback's weakness against some currencies overseas supported the rupee, the report added. The domestic currency closed at a record low of 73.58, down by 24 paise or 0.33 per cent on Thursday, marking its third straight session of losses. Meanwhile, the benchmark BSE Sensex dropped by 231.16 points, or 0.66 per cent, to 34,938 in opening trade.

Rupee recovers 6 paise against US dollar ahead of RBI policy outcome

Emerging markets currency turmoil and higher oil prices are putting increasing pressure on Pakistan's central bank to devalue the rupee for a fifth time in a year, analysts said on Wednesday.

The rupee is down 20 per cent since December as dwindling foreign currency reserves paired with a widening current account deficit prompted successive devaluations by the State Bank of Pakistan.

On Wednesday, the rupee closed at 124.2 per US dollar in the official interbank rate and 127.50 on the open market.

Any significant difference between the rates encourages transactions outside the formal banking system.

The central bank aggressively hiked its policy interest rates by 100 basis points to 8.5 per cent last week, but that won't be enough to prevent another depreciation, research agency Fitch Solutions said in an investors note.

"We remain bearish on the Pakistani rupee as the currency is likely to remain under depreciatory pressures with weaker external finances," it said.

Pakistan's economy has been wobbly for months, triggering speculation that Prime Minister Imran Khan's new government may request the country's 13th International Monetary Fund (IMF) bailout since late 1980s, though the administration calls that the last resort.

The state bank's foreign reserves were down to $9 billion in the week ending Sept. 19, only about two months' worth of imports and down some $300 million from the previous week, according to official statistics.

Now, rising oil prices are draining foreign reserves in emerging markets dependent on imported petroleum. Pakistan's neighbour India saw its currency fall to a record low of 73.40 rupees per dollar this week.

The external pressure has ramped up pressure on Pakistan's thinly traded rupee, widely considered to be under a managed float.

It's unlikely the central bank can defend the rupee at current levels for much longer, said Saad Hashemey, research director for Pakistani brokerage Topline Securities.

"Given the foreign exchange reserves in the state bank, I don't think the state bank has the firepower to bring the rate down," he said.

He added he expects "a slight devaluation at this point, and then eventually a 135-140 level in the next eight to 12 months".

Khan's new government has been seeking alternatives to going back to the IMF, but so far visits by Chinese and Saudi delegations have not yielded any new bridge loans or deferred-payment deals on oil.

Before Khan's election, China had given several billion dollars in emergency loans.

Emerging markets currency turmoil and higher oil prices are putting increasing pressure on Pakistan's central bank to devalue the rupee for a fifth time in a year, analysts said on Wednesday.

Emerging markets currency turmoil and higher oil prices are putting increasing pressure on Pakistan's central bank to devalue the rupee for a fifth time in a year, analysts said on Wednesday. The rupee is down 20 per cent since December as dwindling foreign currency reserves paired with a widening current account deficit prompted successive devaluations by the State Bank of Pakistan. On Wednesday, the rupee closed at 124.2 per US dollar in the official interbank rate and 127.50 on the open market. Any significant difference between the rates encourages transactions outside the formal banking system. The central bank aggressively hiked its policy interest rates by 100 basis points to 8.5 per cent last week, but that won't be enough to prevent another depreciation, research agency Fitch Solutions said in an investors note. "We remain bearish on the Pakistani rupee as the currency is likely to remain under depreciatory pressures with weaker external finances," it said. Pakistan's economy has been wobbly for months, triggering speculation that Prime Minister Imran Khan's new government may request the country's 13th International Monetary Fund (IMF) bailout since late 1980s, though the administration calls that the last resort. The state bank's foreign reserves were down to $9 billion in the week ending Sept. 19, only about two months' worth of imports and down some $300 million from the previous week, according to official statistics. Now, rising oil prices are draining foreign reserves in emerging markets dependent on imported petroleum. Pakistan's neighbour India saw its currency fall to a record low of 73.40 rupees per dollar this week. The external pressure has ramped up pressure on Pakistan's thinly traded rupee, widely considered to be under a managed float. It's unlikely the central bank can defend the rupee at current levels for much longer, said Saad Hashemey, research director for Pakistani brokerage Topline Securities. "Given the foreign exchange reserves in the state bank, I don't think the state bank has the firepower to bring the rate down," he said. He added he expects "a slight devaluation at this point, and then eventually a 135-140 level in the next eight to 12 months". Khan's new government has been seeking alternatives to going back to the IMF, but so far visits by Chinese and Saudi delegations have not yielded any new bridge loans or deferred-payment deals on oil. Before Khan's election, China had given several billion dollars in emergency loans.

Pakistan's rupee under pressure amid regional currency turmoil

The rupee Wednesday plunged by 43 paise to breach the historic low of 73 level as soaring crude oil prices fuelled worries over capital outflows and widening current account deficit.

The domestic currency closed at a record low of 73.34, down by 43 paise or 0.59 per cent at the interbank foreign exchange here.

In the day trade, the rupee crashed to its all-time low of 73.42 per dollar as crude oil prices breached the $85 per barrel mark, leading to huge outflows of cash.

Investors remained concerned over sustained foreign capital outflows and soaring crude oil prices, analysts said.

After breaching the US 85 per barrel level, the benchmark Brent crude stayed near four-year high levels at $84.86 per barrel.

According to the provisional exchange data, foreign investors withdrew Rs 1,550 crore on a net basis from capital markets on Wednesday.

Rising US interest rates and bond yields have encouraged investors to pull out funds from emerging markets to pocket better returns, analysts said.

"The rupee has made a new record low today on the back of consistent rise in the crude oil prices. A sharp rise in crude oil along with steep depreciation in the rupee might push inflation higher in coming months," Rushabh Maru - Research Analyst, Anand Rathi Shares and Stock Brokers.

The Reserve Bank refused to open a special window for oil marketing companies which affected market sentiments, VK Sharma, Head Private Client Group &amp; Capital Market Strategy at HDFC Securities.

Stocks also fell by more than 1.5 per cent due to the rupee falling to record low levels. The benchmark BSE Sensex plunged by 550 points or 1.51 per cent while the broader Nifty tanked 150 points or 1.38 per cent.

The rupee opened lower at 73.26 per dollar due to high crude oil prices against the last close of 72.91 per dollar. The currency pared some losses to touch a high of 72.90 per dollar on market speculation that RBI may open special dollar window for oil companies.

However, without any clear signals from the central bank, the rupee crashed to all-time lows before settling at 73.34.

Meanwhile, the FBIL set the reference rate for the dollar at 73.02 per dollar. The reference rate for euro was fixed at 84.57 against 84.37 previously and for the British pound at 94.98 against 94.88 on October 1.

The rupee Wednesday plunged by 43 paise to breach the historic low of 73 level as soaring crude oil prices fuelled worries over capital outflows and widening current account deficit.

The rupee Wednesday plunged by 43 paise to breach the historic low of 73 level as soaring crude oil prices fuelled worries over capital outflows and widening current account deficit. The domestic currency closed at a record low of 73.34, down by 43 paise or 0.59 per cent at the interbank foreign exchange here. In the day trade, the rupee crashed to its all-time low of 73.42 per dollar as crude oil prices breached the $85 per barrel mark, leading to huge outflows of cash. Investors remained concerned over sustained foreign capital outflows and soaring crude oil prices, analysts said. After breaching the US 85 per barrel level, the benchmark Brent crude stayed near four-year high levels at $84.86 per barrel. According to the provisional exchange data, foreign investors withdrew Rs 1,550 crore on a net basis from capital markets on Wednesday. Rising US interest rates and bond yields have encouraged investors to pull out funds from emerging markets to pocket better returns, analysts said. "The rupee has made a new record low today on the back of consistent rise in the crude oil prices. A sharp rise in crude oil along with steep depreciation in the rupee might push inflation higher in coming months," Rushabh Maru - Research Analyst, Anand Rathi Shares and Stock Brokers. The Reserve Bank refused to open a special window for oil marketing companies which affected market sentiments, VK Sharma, Head Private Client Group & Capital Market Strategy at HDFC Securities. Stocks also fell by more than 1.5 per cent due to the rupee falling to record low levels. The benchmark BSE Sensex plunged by 550 points or 1.51 per cent while the broader Nifty tanked 150 points or 1.38 per cent. The rupee opened lower at 73.26 per dollar due to high crude oil prices against the last close of 72.91 per dollar. The currency pared some losses to touch a high of 72.90 per dollar on market speculation that RBI may open special dollar window for oil companies. However, without any clear signals from the central bank, the rupee crashed to all-time lows before settling at 73.34. Meanwhile, the FBIL set the reference rate for the dollar at 73.02 per dollar. The reference rate for euro was fixed at 84.57 against 84.37 previously and for the British pound at 94.98 against 94.88 on October 1.

Rupee crashes below record 73 mark, ends lower by 43 amid oil price spike

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Rupee claws back some lost ground, rises 8 paise against US dollar

Rupee falls 54 paise, touches 71 level against US dollar

Rupee soars 77 paise, breaches 70 per US dollar mark after 3 months

Rupee soars 77 paise, breaches 70 per US dollar mark after 3 months

Rupee sheds 15 paise after Trump suggests raising tariffs on Chinese imports

Rupee rises 39 paise to 70.30 against US dollar in early trade

Babbar compares rupee's falling value with age of Modi's mother, BJP demands apology

Rupee gains for 6th straight session, rises 21 paise

Rupee rises 10 paise against US dollar to 71.87

Rupee rises 24 paise against US dollar on fresh fund inflow, easing crude prices

Rupee falls 34 paise against US dollar in early trade

Rupee rises 31 paise against US dollar on falling crude prices

Rupee falls 43 paise to 74.11 against the US dollar in early trade

Rupee falls 16 paise to 73.61 against US dollar in early trade