4 hrs ago
Rupee Falls 12 Paise to Close at 95.74 Against Dollar
The rupee is the currency used in India.
On Wednesday, it became slightly weaker against the US dollar.
One dollar was worth 95.74 rupees at the end of trading.
The dollar was stronger because comments from Federal Reserve officials raised expectations of a possible rate increase in 2026.
Oil prices also recovered a little, which put some pressure on the rupee.
Indian stock markets rose, giving the rupee some support.
An analyst said better relations between the United States and Iran could help the rupee.
However, a stronger dollar or new tensions could stop it from rising much.
The rupee declined 12 paise to close provisionally at 95.74 against the US dollar on Wednesday.
A stronger dollar and a modest recovery in crude oil prices pressured the Indian currency.
The rupee traded between 95.57 and 95.76 during the session.
Indian shares gained, with the Sensex rising 299.17 points and the Nifty adding 117.80 points.
Analysts said diplomatic progress between the United States and Iran and weaker crude prices could support the rupee, while dollar strength could limit gains.
- Who
- The Indian rupee, the US dollar, currency traders, and domestic investors.
- What
- The rupee fell 12 paise to close provisionally at 95.74 per US dollar.
- Where
- The interbank foreign exchange market.
- When
- Wednesday; the previous session was Tuesday.
- Why
- The dollar strengthened after hawkish Federal Reserve comments, while crude oil prices recovered slightly; stronger domestic equities provided some support.
Key facts
- Closing exchange rate
- 95.74 rupees per US dollar, provisional
- Daily move
- Down 12 paise
- Trading range
- The rupee moved between 95.57 and 95.76
- Dollar index
- 100.87, up 0.27%
- Brent crude
- USD 99.51 per barrel, up 0.26% in futures trade
- Indian equities
- Sensex rose 299.17 points to 74,828.25; Nifty rose 117.80 points to 23,446.80
- Foreign institutional investors
- Sold equities worth ₹3,809.99 crore net on Tuesday
Quotes
Anuj Choudhary
Research Analyst at Mirae Asset Sharekhan
“We expect the rupee to trade with a positive bias as hopes of a diplomatic solution between the US and Iran amid indirect talks at the UNGA may improve global risk sentiment. Overall weakness in crude oil prices may also support the rupee,”
CNBC TV 18
Sources
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