Rupee Falls 1 Paisa To Close At All-Time Low Of 83.10 Against US Dollar
The Rupee edged lower by 1 paisa to settle at an all-time low of 83.10 (provisional) against the US dollar on Friday, weighed down by a negative trend in domestic equities and foreign fund outflows.
Forex traders said the rupee is likely to trade with a negative bias on risk aversion in global markets and a rising US dollar.
At the interbank foreign exchange, the domestic unit opened at 83.03 against the dollar and moved in a range of 83.02 to 83.13 in the day trade. It finally ended the day at 83.10 (provisional), registering a fall of 1 paisa from its previous close.
On Thursday, the rupee settled lower by 1 paisa at a record low of 83.09 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.11 per cent to 103.46.
Brent crude futures, the global oil benchmark, declined 0.32 per cent to USD 83.85 per barrel.
The rupee declined marginally on weak domestic markets and foreign fund outflows, said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas.
However, the softness of the US dollar cushioned the downside. The US dollar eased as the Chinese central bank intervened after the Yuan fell to a 16-year low.
The US dollar gained on Thursday as US weekly unemployment claims declined to 239,000 as compared to 250,000 in the previous week showing a tight labour market.
"We expect the rupee to trade with a negative bias on risk aversion in global markets and overall strength in the greenback. Recovery in crude oil prices may also weigh on Rupee. However, any intervention by the Reserve Bank of India may support Rupee at lower levels. USDINR spot price is expected to trade in a range of Rs 82.80 to Rs 83.50," Choudhary added.
On the domestic equity market front, the 30-share BSE Sensex closed 202.36 points or 0.31 per cent lower at 64,948.66 points. The broader NSE Nifty declined 55.10 points or 0.28 per cent to close at 19,310.15 points.
Foreign institutional investors (FIIs) were net sellers in the capital markets on Thursday as they offloaded shares worth Rs 1,510.86 crore, according to exchange data.
Â
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
-
When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
