Rupee falls 4 paise to 86.59 against US dollar in early trade

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..... Rupee falls 4 paise to 86.59 against US dollar in early trade
PTI News
Dated:- 30-1-2025
PTI
Mumbai, Jan 30 (PTI) The rupee depreciated 4 paise to 86.59 against the US dollar in early trade on Thursday, after the US FED kept rates on hold and was hawkish in its outlook. Forex traders said the rupee continued to face pressure due to sustained foreign fund outflows and broad strength o .....

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..... f the American currency in the overseas market. At the interbank foreign exchange, the rupee opened at 86.58 then fell further to 86.59 against the American currency, registering a decline of 4 paise over its previous close. On Wednesday, the rupee pared its initial losses and settled for the day on a positive note, higher by 2 paise to close at 86.55 against the US dollar. The US FED kept r .....

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..... ates on hold but was hawkish in its outlook as it said rates would be held higher for longer and downplaying expectations for future rate cuts. "The US Federal Reserve's decision to hold rates at 4.25 per cent-4.50 per cent has further added to the rupee's woes. Despite pressure from former President Donald Trump for deeper cuts, Fed Chair Jerome Powell emphasized a data-driven approach, citing .....

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..... stable unemployment and positive inflation trends," CR Forex Advisors, MD - Amit Pabari said. Additionally, the focus remains on India's upcoming budget announcement, which is expected to set the tone for foreign investment and economic growth, traders said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 107.84, lower by 0.14 per c .....

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..... ent, Brent crude, the global oil benchmark, was quoted 0.08 per cent lower at USD 76.52 per barrel in futures trade, as traders digested a hawkish FED and US president's reiteration that he had plans to increase domestic energy production. In the domestic equity market, the 30-share BSE Sensex was trading 99.33 points or 0.13 per cent up at 76,632.29 in morning trade, while Nifty was higher by .....

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..... 58.50 points or 0.25 per cent to 23,221.60. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,586.43 crore in the capital markets on net basis on Wednesday, according to exchange data. PTI DRR DR
News - Press release - PIB .....

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