Currency

The dollar falling against other currencies overseas on lingering worries about a global slowdown and continuing US-China trade tensions, supported rupee, forex dealers said.

Forex dealers said the dollar's gains against some other currencies overseas too weighed on the rupee sentiment.

In December, South Korea and Indian bonds had the biggest inflows among the five countries, of $1.33 billion and $676 million respectively.

Rupee Vs Dollar: Forex traders said strengthening of the US dollar against some currencies overseas weighed on the local unit.

After four days of depreciation, the rupee advanced 0.3 per cent against the dollar to end at 71.03 on Thursday. That marked a gain of 21 paise for the rupee against the greenback from the previous close of 70.24, a day after the central bank announced new rules for overseas borrowings. Weakness in the United States currency overseas amid a dip in crude oil rates supported the currency, say analysts. However, volatility witnessed in the domestic equity markets kept the upside in check.

Forex dealers said, easing crude oil prices and selling of the American currency by exporters supported the rupee.

INR Vs USD: Gains in domestic stock markets and weakening of the greenback in overseas markets supported the rupee, traders said.

While the currency (INR vs USD) recovered nearly 6 per cent after touching a record low of 74.485 per dollar on October 11, the January 2-8 poll of more than 65 analysts showed the rupee will weaken again. The rupee rate (forex rate) fell about 9 per cent in 2018.

The rupee declined by 53 paise, or 0.8 per cent, to close at 70.21 against the dollar on Tuesday. That marked the first lower closing for the rupee against the greenback after two days of appreciation. Concerns on the widening of current account deficit on rising crude oil prices pulled the rupee lower, say analysts. Strength in the dollar against major peers overseas also affected the rupee. The rupee had appreciated by 52 paise, or 0.7 per cent, in the previous two trading sessions.

The rupee weakened even after the Central Statistics Office (CSO) released positive advanced estimates of national income for 2018-19.

Rupee Vs Dollar: Forex dealers said, selling of the American currency by exporters supported the rupee.

Rupee Vs Dollar: The equity market staged a recovery and propped up the rupee, traders said.

At the forex market, the rupee opened lower at 70.30 and fell further to touch a low of 70.40 a dollar, down 22 paise over its previous closing.

After appreciating for three consecutive sessions, the rupee weakened on Wednesday. The rupee settled at 70.18 against the dollar, down 75 paise - or 1.1 per cent - from the previous close. A gain in the dollar overseas and a selloff in domestic equity markets, leading to a 1 per cent fall in benchmark indices, hurt the rupee, say analysts. The Sensex shed 363 points, or 1 per cent, to end at 35,891 on Wednesday as auto and metal stocks slumped amid concerns of a slowdown in manufacturing activity. The Nifty50 fell 117 points to settle at 10,792.

The rupee declined by 27 paise and fell to 69.70 per dollar mark in early trade on Wednesday amid strengthening of the American currency and lower opening in domestic equities, reported news agency Press Trust of India (PTI). Sustained foreign fund outflows also weighed on the local unit, traders were quoted as saying in the PTI report. However, lower crude oil prices capped the losses, they said. On Tuesday, the rupee had appreciated 34 paise to 69.43 against the American currency.