Indian armed forces on early Wednesday carried out missile strikes on nine terror targets in Pakistan and Pakistan-Occupied Kashmir
For the year so far, the Rupee has weakened by 3% against the US dollar, and is set to post annual losses for seventh year in a row.
A strong greenback against major rivals overseas and unabated foreign fund outflows dented market sentiment, forex traders said
Analysts said the selling rush by foreign investors in pursuit of better gains from the Chinese market has been preventing the rupee's recovery
Negative domestic markets, rise in crude oil prices, and outflow of foreign capital capped sharp gains
Lower crude oil prices in international markets helped arrest the decline in the local unit, forex traders said
Easing crude oil prices and weakness of the American currency in the overseas market supported the local unit and restricted further slide.
Forex traders said the rupee is likely to remain within a narrow range as the RBI has been actively intervening in the market, consistently absorbing inflows
Weak US Dollar, foreign fund inflows and a positive tone in the domestic markets supported the rupee. However, overnight gains in crude oil prices capped sharp gains.
Traders will now take cues from the weekly unemployment claims, existing home sales and PMI data from the US.
Concerns over upcoming PMI data from the US and Federal Reserve Chair Jerome Powell's speech at Jackson Hole Symposium later this week may keep investors awaiting for further cues
Mixed-to-positive tone in the domestic market also supported the rupee. However, foreign fund outflows and geopolitical tensions in the Middle East restricted the rise in the local unit
Forex traders said risk aversion in the global markets amid heightened geopolitical tension in the Middle East between Israel and Iran weighed on sentiments
Forex traders said the rupee edged up slightly on gains in the domestic markets. However, a surge in crude oil prices capped sharp gains for the local unit.
Yield on the bonds have eased due to heavy inflows by the foreign investors amid Indian bond inclusion in global bond index announcement last year.
The rupee ended at 83.1150 against the U.S. dollar, barely changed compared to its close at 83.1375 in the previous session.
Forex traders said foreign fund outflows and dollar demand from importers weighed on investor sentiments.
The rupee rose by 13 paise on December 14 but lost ground due to the ongoing dollar buying pressure
Rise in Asian currencies follows soft US inflation, hinting at a possible end to the Federal Reserve's rate-hike cycle
The rupee was at 83.27 against the U.S. dollar at 11:08 a.m. IST, slightly weaker than 83.25 in the previous session.
However, a positive trend in domestic markets restricted the downside for the local unit, forex traders said.
Indian rupee opened marginally higher against US dollar on July 17 tracking gains in the local equity markets.
There are other important prerequisites for achieving internationalisation — the existence of deep and well-functioning domestic financial markets, a trusted legal framework for contract enforcement, low inflation, and stable and predictable macroeconomic policies
Indian markets open marginally lower against US dollar tracking weakness in Asian equities and currencies market.
Indian rupee weakened marginally against US dollar tracking fall in Asian currencies market. The home currency ended at 82.12 a dollar, down 0.21 percent from its previous close of 81.94.