Meanwhile, the dollar index was down 0.11 per cent to 102.87 points

RBI changed its stance to ‘neutral’ on Wednesday, spurring bets that the country is on the path to cut interest rates 

The decline was primarily due to a decrease in foreign currency assets by $3.511 billion, now at $612.643 billion.

The rupee’s performance was also impacted by the volatile situation in the Middle East, which is expected to keep oil prices elevated and exert further pressure on the currency

Strong rise in the Treasury yield aids the greenback

At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and traded in a tight range

At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and traded in a tight range

Rupee buoyed by weak crude oil prices, RBI intervention

At the interbank foreign exchange, the rupee opened at 84.03 against the greenback

Meanwhile, the dollar index was down by 0.11 per cent to 103.53 points

The reserves shrunk by $10.746 billion during the reporting week to stand at $690.43 billion as on October 11, 2024

A short-lived correction looks likely in the near term

Investors remained cautious and stayed away from riskier assets due to geopolitical uncertainties, forex dealers said

At the interbank foreign exchange market, the domestic unit opened at 84.07 against the greenback and traded in a narrow range throughout the session

Rupee found some cushion as the dollar retreated from its higher level while the domestic equity markets indicated a recovery, forex traders say

Analysts said the selling rush by foreign investors in pursuit of better gains from the Chinese market has been preventing the rupee's recovery

At the interbank foreign exchange, the local currency opened at 84.07 against the greenback, trading flat at previous day's closing level in initial deals

Forex traders say the selling rush by foreign investors sent the domestic equity markets into a tailspin, dragging the benchmark indices down

Meanwhile, the dollar index was trading 0.28 per cent lower at 104.54

At the interbank foreign exchange, the rupee opened at 84.08 against the greenback, it traded in a tight range and ended the day at 84.07 (provisional), unchanged from its previous close

Meanwhile, the dollar index was trading at 104.31

Weak domestic markets and month-end dollar demand push rupee lower

Despite this increase, the currency is affected by strong dollar demand and outflows from foreign funds, contributing to investor hesitancy.

The central bank has sold dollars on almost all days in the last two weeks, not allowing the rupee to fall and dampening volatility

Rupee weighed down by foreign fund outflows, month-end dollar demand

Volatility is guaranteed as the week is packed with key events

Meanwhile, the dollar index was trading 0.62 per cent lower at 103.63

Meanwhile, the dollar index was trading 0.13 per cent lower at 103.73

Meanwhile, the dollar index was trading 1.34 per cent higher at 104.80

Trump’s policies on trade have tended to strengthen the US dollar in the past

Meanwhile, the dollar index was trading 0.22 per cent lower at 104.86

Metals stay mixed and precious metals turn weak as the dollar strengthens