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TMI BlogRupee recovers 15 paise from all-time low level to close at 87.44 against US dollarX X X X Extracts X X X X X X X X Extracts X X X X ..... Rupee recovers 15 paise from all-time low level to close at 87.44 against US dollar X X X X Extracts X X X X X X X X Extracts X X X X ..... (MPC), headed by RBI Governor Sanjay Malhotra, slashed the repo rate by 25 basis points to 6.25 per cent. This was the first reduction since May 2020 and the first revision after two-and-a-half years. At the interbank foreign exchange, the rupee opened at 87.57, touched an intra-day high of 87.33 and a low of 87.57 against the greenback during the session. The local unit finally settled for t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he day at 87.44 (provisional) against the US dollar, registering a rise of 15 paise over its previous close. On Thursday, the rupee plunged 16 paise to close at an all-time low of 87.59 against the US dollar. "We expect the rupee to trade with a negative bias amid weak domestic markets and dollar demand from importers. Risk aversion in global markets amid ongoing uncertainty over US trade tari ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ffs may also weigh on the rupee," said Anuj Choudhary -- Research Analyst at Mirae Asset Sharekhan. The RBI cut repo rate by 25 bps to 6.25 per cent from 6.5 per cent, was in line with street expectations, Choudhary said, adding, "Thus, markets did not react too sharply." Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.04 per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cent lower at 107.64. Brent crude, the global oil benchmark, rose 0.90 per cent to USD 74.96 per barrel in futures trade. Reserve Bank Governor Sanjay Malhotra on Friday said the exchange rate policy has remained consistent over the years and the central bank does not target any "specific level or band" of the rupee, which slipped to an all-time low of 87.59 against the US dollar on Thursday. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The governor further noted that the exchange rate policy has remained consistent over the years and the central bank does not target any "specific level or band" of the rupee. "We should not be looking at day-to-day volatility in rupee", but focus on long-term exchange rate, he said. Malhotra added that the RBI was committed to taking carefully calibrated monetary policy decisions to facili ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tate conducive macroeconomic conditions that reinforce price stability, sustained economic growth and financial stability. The local unit has lost over 2 per cent so far this year. The sharp drop in the domestic unit comes after nearly a 3 per cent fall in the USD/INR pair in 2024, making it one of the worst-performing Asian currencies. On January 1, 2024, the rupee was at 83.21 against the gr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eenback. The rupee has lost 180 paise so far this year. The domestic unit was quoted at 85.64 against the greenback on January 1, 2025. Forex traders said the rupee is trading with a negative bias over the global trade war as market participants mulled the impact of tariffs being imposed by the US and China. In the domestic equity market, the 30-share BSE Sensex settled 197.97 points, or 0.2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5 per cent, lower at 77,860.19 points, while the Nifty was down 43.40 points, or 0.18 per cent, at 23,559.95 points.
Foreign institutional investors (FIIs) offloaded equities worth Rs 3,549.95 crore in the capital markets on a net basis on Thursday, according to exchange data. PTI DRR TRB X X X X Extracts X X X X X X X X Extracts X X X X
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