Rupee Ends Week On Strong Note, Closes Higher Against US Dollar
The Indian rupee closed stronger against the US dollar on Friday. It strengthened by 26 paise to close at 86.21 against the greenback.
The domestic currency opened strong against the US dollar today, buoyed by a decline in both the dollar index and crude oil prices. The domestic currency appreciated by 18 paise to open at 86.28 against the dollar, after closing at 86.46 on the previous day, as per Bloomberg data.
The dollar index, which measures the greenback's performance against six major currencies, dropped by 0.53% to 107.474.
During the day crude oil prices were under pressure following comments from U.S. President Donald Trump urging Saudi Arabia to lower prices to help curb Russia's ongoing conflict. Trump also warned of potential sanctions against Russia if the country does not de-escalate the war.
Sriram Iyer, Senior Research Analyst at Reliance Securities, noted that the dollar index began weaker on Friday, following Trump's decision to refrain from imposing aggressive tariffs after his inauguration, which defied market expectations.
Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors, said that ongoing inflows and outflows have contributed to the rupee's volatility, and he anticipates the currency to remain within a certain range.
He also mentioned that Japan's CPI data, released just before the conclusion of the Bank of Japan's meeting, showed higher inflation, exacerbated by the weak yen. Bhansali added that exporters may hold off with a stop-loss at 86.25, as the rupee remains vulnerable to dollar demand, while importers may consider buying on dips.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
-
Joining The Dots | Dark Skies, Steady Diya: Why Hope Holds This Diwali
With war, a weak rupee and foreign outflows weighing on sentiment, policymakers at the NDTV World Summit and market veterans at NDTV Profit Ignite: Diwali Edition offered the same advice: stay invested and filter out the noise.
-
The Curious Case of Equitas Small Finance Bank And A CEO Who Quit For Stock
PN Vasudevan believes persistent investor concerns over a perceived conflict of interest had become a governance overhang on Equitas Small Finance Bank's stock, even as the lender improved profitability and asset quality.
