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Rupee falls 37 paise to close at 85.96 against US dollar
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....upee falls 37 paise to close at 85.96 against US dollar<BR>PTI News<BR>Dated:- 22-5-2025<BR>PTI<BR>Mumbai, May 22 (PTI) Rupee depreciated 37 paise to close at 85.96 (provisional) against the US dollar on Thursday, on dollar demand from importers and foreign banks as well as surge in crude oil prices. Forex traders said surging US bond yields are rattling global investors. Moreover, the narrowing....
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.... yield differential between India and the US, is making Indian assets less attractive. Besides, elevated crude oil prices amid rising geopolitical tensions in the Middle East, further dented investor sentiments. At the interbank foreign exchange market, the rupee opened at 85.59 then touched an intra-day high of 85.58 and a low of 86.11 against the US dollar. The domestic unit settled for the ....
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....day at 85.96 (provisional), lower by 37 per cent over its previous close. On Wednesday, the rupee settled at 85.59 against the greenback. In the last three trading sessions, the rupee has declined 54 paise. "The Indian rupee has ebbed for a third straight session, influenced by importers' appetite for the dollar and the unwinding of short positions after a key technical level was breached," ....
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....said Dilip Parmar, Senior Research Analyst, HDFC Securities. Parmar further added that "a prevailing inclination towards risk aversion, alongside carry trades involving the Japanese yen, additionally exerted downward pressure on the domestic rupee". Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.25 per cent at 99.8....
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....0. Brent crude, the global oil benchmark, fell 1.45 per cent to USD 63.97 per barrel in futures trade. "The spot USDINR rate has retraced to its 100-day simple moving average in today's session. Advancement beyond the 86.11 threshold might propel it into the 86.30 to 86.45 spectrum. Conversely, the 85.60 mark now acts as a prospective support," Parmar said. In the domestic equity market, the....
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.... 30-share BSE Sensex declined 644.64 points, or 0.79 per cent, to close at 80,951.99, while the Nifty fell 203.75 points, or 0.82 per cent, to 24,609.70. Foreign institutional investors bought equities worth Rs 2,201.79 crore on Wednesday. PTI DRR TRB<BR> News - Press release - PIB....