Rupee rises 5 paise to 84.26 against U.S. dollar in early trade
1 month, 2 weeks ago

Rupee rises 5 paise to 84.26 against U.S. dollar in early trade

The Hindu  

The rupee recovered from its all-time low level and witnessed a range-bound trade against the U.S. dollar in early hours on Thursday, as investors remained cautious ahead of the U.S. Fed meeting outcome later this week. "The Indian rupee fell to its lowest on Wednesday and is expected to continue with its fall as the Reserve Bank of India allows a weaker rupee with FPIs continuing their selling mode in equities," Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, said. RBI protected the rupee for some time but left the protection as pressure on buying dollars was immense after a rise in the dollar index and an increase in U.S. yields, Mr. Bhansali added. Forex traders said the rupee was trading in a narrow range as persistent foreign fund outflows, a muted trend in domestic equities and the strength of the American currency in the overseas market, dented investor sentiments.

History of this topic

Rupee recovers from all-time low, gains 10 paise to 85.03 against U.S. dollar
3 days, 16 hours ago
Rupee recovers from all-time low, gains 6 paise to 85.07 against US dollar in early trade
3 days, 21 hours ago
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3 days, 22 hours ago
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6 days, 15 hours ago
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6 days, 21 hours ago
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