Business

Indian Rupee Slips Against US Dollar

The Indian rupee depreciated six paise against the US dollar in early trade on Monday, following a lackluster trend in Indian equity markets and a firm American currency overseas.

However, lower crude prices in the international market and fresh foreign fund inflows restrict the rupee’s fall, according to forex dealers.

The dollar index rose 0.41 percent to 106.39, while Brent crude futures declined 2.58 percent to $81.47 per barrel.

The BSE Sensex and NSE Nifty fell 12.45 points, or 0.07 percent, to 18,500.30 and 62,265.67, respectively.

Markets could be trading lower in early trades due to weak Asian cues and resurgent safe-haven demand for the US dollar amid China’s increasing COVID cases.

However, the positive takeaway is that COVID concerns are offset by the optimism of more support from the Chinese central bank.

Intra-day volatility would persist, but positive catalysts such as falling crude oil prices, the US dollar index, and a better-than-expected earnings season could keep the markets in good stead.

Foreign institutional investors were net buyers in the Indian capital markets on Friday, buying shares worth Rs3.69 billion.

Spriha Rai

Recent Posts

Hina Khan Hails 11 Years Of PM Modi’s Leadership; Highlights National Progress

As the nation marks 11 years under PM Modi's leadership, actress Hina Khan shares her…

5 hours ago

Subhash Ghai Hails PM Modi’s Transformative Vision For India

Subhash Ghai has praised PM Narendra Modi’s leadership for catalysing India’s growth and changing the…

5 hours ago

India & Central Asia Boost Rare Earth Cooperation At Delhi Meet

India and five Central Asian nations have agreed to deepen cooperation on rare earths and…

6 hours ago

PM Modi’s Beej Se Bazaar Tak Vision Reshapes Indian Agriculture

Prime Minister Modi has redefined Indian agriculture with the ‘Beej Se Bazaar Tak’ vision, transforming…

6 hours ago

EV Sales Cross 4% Mark In May; Signalling Steady Shift To Green Mobility

EV sales topped 4% of passenger vehicle retail in May 2025, signalling growing demand for…

7 hours ago

Self-Reliant Defence Industry Marks India’s Strategic Security Ascent

One year into Modi 3.0, reforms have reduced poverty, strengthened defence, and accelerated the digital…

7 hours ago