India’s foreign exchange reserves rose by USD 3.5 billion in the week that ended August 29 to USD 694.230 billion, driven largely by a rise in foreign currency assets and gold, the Reserve Bank of India (RBI) said in its latest ‘Weekly Statistical Supplement’. The country’s forex kitty is hovering close to its all-time high…
India’s foreign exchange reserves declined by USD 1.18 billion to USD 695.49 billion in the week ended July 18. This marks the third consecutive week of decline, according to official data released by the Reserve Bank of India (RBI). In the last week under review, the country’s foreign exchange reserves had declined by USD 3.06 billion to USD 696.67…
Rupee plunged by 55 paise to close at 86.07 (provisional) against the US dollar on Friday, as rising geopolitical tensions in the Middle East and a spike in global crude oil prices weighed heavily on investor sentiment. The volatility followed Israel’s reported strikes on Iran’s nuclear sites. Brent crude, the international oil benchmark, surged by…
Rupee appreciated by 6 paise to 85.51 against the US dollar in early trade on Wednesday, supported by strong foreign institutional investor (FII) inflows and a dip in global crude oil prices. According to forex traders, the rupee is expected to trade within a range of 85.40 to 90 during the day, with mid-month demand…
Rupee snapped its two-day losing streak and ended 7 paise higher at 85.80 (provisional) against the US dollar on Thursday, supported by strong domestic equities and gains in Asian currencies. According to forex traders, a drop in global crude oil prices overnight lent support to the local unit, although a strong US dollar index capped…
Rupee strengthened by 19 paise to 85.29 against the US dollar in early trade on Friday on the back of lower crude oil prices and sustained foreign fund inflows. According to forex traders, firm greenback and volatile stock markets capped the rupee’s gain even as market participants stayed cautious ahead of the release of domestic…