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Rupee settles 1 paisa higher at 87.18 against US dollar
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....upee settles 1 paisa higher at 87.18 against US dollar<BR>PTI News<BR>Dated:- 27-2-2025<BR>PTI<BR>Mumbai, Feb 27 (PTI) Rupee settled almost flat with a marginal gain of 1 paisa at 87.18 against US dollar on Thursday amid a muted trend in domestic equity markets and persistent foreign fund outflows. Forex traders said the latest tariff announcements from the US have sent shockwaves through global....
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.... markets, strengthening the dollar. Moreover, month-end dollar demand also boosted the American currency. At the interbank foreign exchange, the rupee opened at 87.26 and touched the high of 87.12 against the greenback during intraday. It also touched the low of 87.41 before ending the session at 87.18 against the dollar, registering a slight gain of 1 paisa from its previous close. On Tuesday....
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...., the rupee fell sharply by 47 paise to settle at 87.19 against the US dollar. On Wednesday, equity, forex, commodity markets were closed on account of Mahashivratri. Dilip Parmar, Research Analyst, HDFC Securities, said the rupee's earlier losses were recouped by the end of the day, "likely as a result of possible interventions by the central bank to stabilise the currency and prevent excessi....
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....ve volatility". He said the rupee ended the trading session largely unchanged after experiencing a sharp depreciation on Tuesday. This recoup was largely subdued in anticipation of two key events: the Reserve Bank of India's upcoming USD 10 billion USD/INR swap and the MSCI rebalancing flows scheduled for February 28. Going forward, he said, "the spot USD-INR is anticipated to trade within a r....
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....ange of 87.60 to 86.50 in the near future, as market participants await the outcomes of the scheduled events and quarterly GDP number". According to Anuj Choudhary - Research Analyst at Mirae Asset Sharekhan, the rupee is expected to trade with a negative bias on account of weakness in the domestic markets and sustained outflows by FIIs. "Any further pullback in the US dollar may also pressuri....
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....se the rupee. However, any intervention by the RBI and weakness in crude oil prices may support the rupee at lower levels," Choudhary said, adding, "USD-INR spot price is expected to trade in a range of 87 to 87.60." Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 106.59, higher by 0.17 per cent. Brent crude, the global oil benchmar....
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....k, was quoted 1.02 per cent higher at USD 73.27 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex declined 10.31 points, or 0.01 per cent, to settle at 74,612.43, while the Nifty fell 2.50 points, or 0.01 per cent, to 22,545.05 points. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 556.56 crore in the capital markets on net basis on Thursda....
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....y, according to exchange data. Meanwhile, global financial markets experienced renewed volatility as US President Donald Trump reaffirmed his commitment to tariffs, announcing that duties on Canada and Mexico would take effect from April 2. Adding to trade tensions, he hinted at a potential 25 per cent reciprocal tariff on European goods, escalating fears of a retaliatory response from the Eur....
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....opean Union. However, the delay in imposing the 25 per cent tariffs on Mexican and Canadian goods -- originally set for March 4 but postponed to April 2 -- is limiting the US dollar's gains. PTI DRR HVA<BR> News - Press release - PIB....