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Rupee falls 7 paise to close at 88.77 against US dollar
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....upee falls 7 paise to close at 88.77 against US dollar<BR>FEMA / RBI<BR>Dated:- 3-11-2025<BR>PTI<BR>Mumbai, Nov 3 (PTI) The rupee extended its descent for the third straight day and settled seven paise down at 88.77 (provisional) against the US dollar on Monday, near its all-time low level, weighed down by a strong American currency and foreign fund outflows. Forex traders said domestic equities....
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.... ended on a positive note and supported the domestic unit at lower levels. Moreover, intervention by the Central Bank also offered some cushioning. At the interbank foreign exchange, the rupee opened at 88.73 and touched an intraday low of 88.80 against the greenback. The unit ended the session at 88.77 (provisional) against the dollar, logging a loss of 7 paise from its previous closing level....
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..... The rupee had ended one paisa lower at 88.70 against the dollar on Friday, a day after crashing 47 paise on Thursday, following the hawkish commentary by US Federal Reserve chair Jerome Powell, even as the Fed reduced the interest rate by 25 basis points. The domestic currency has recorded its lowest-ever closing level of 88.81 against the dollar on October 14. "The Indian rupee drifted to....
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....ward a record low on Monday, dragged down by regional currency weakness and dollar outflows. Although the central bank intervened mid-session to offer some cushioning, strong dollar demand ultimately prevailed, pushing the rupee pair to a session low before it settled with a small loss," said Dilip Parmar – Senior Research Analyst, HDFC Securities. Parmar further added that near-term technical....
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.... chart showed support at 88.55 and resistance at 89.25. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.16 per cent to 99.96. Brent crude, the global oil benchmark, was up 0.22 per cent to USD 64.87 per barrel in futures trading. According to Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, the rupee t....
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....raded weak as strength in the dollar index exerted pressure on the domestic currency. "Continued FII selling added to the downside, even as positive developments emerged from US statements hinting at progress toward a trade deal with India. The broader sentiment remains cautious ahead of key US data releases this week, including ISM Manufacturing and Non-Manufacturing PMI, which could further in....
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....fluence global risk appetite and currency movements. "The rupee is expected to trade within a range of 88.45–89.25 in the near term," Trivedi said. On the domestic equity markets front, the Sensex rose 39.78 points or 0.05 per cent to settle at 83,978.49, while the Nifty gained 41.25 points or 0.16 per cent to end at 25,763.35. Foreign institutional investors sold equities worth Rs 1,883.7....
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....8 crore on Monday, according to exchange data. A monthly survey released on Monday showed India's manufacturing sector activity strengthened in October, buoyed by Goods and Services Tax relief, productivity gains and tech investment, even as international sales rose at a weaker pace. The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) rose from 57.7 in September....
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.... to 59.2 in October, indicating a quicker improvement in the sector's health. Meanwhile, India's forex reserves dropped by USD 6.925 billion to USD 695.355 billion during the week ended October 24, the RBI said on Friday. In the previous reporting week, the overall reserves had increased by USD 4.496 billion to USD 702.28 billion. PTI HVA DRR<BR> News - Press release - PIB....