The US nonfarm payrolls report for September was due for release on Friday, but was not published due to the government closure
Greenback is weighed down by expectations of lower rates and threats to central bank independence
Piyush Goyal on Thursday said the government expects tax revenues to rise, not fall, following the rationalisation of GST rates, as higher demand will offset any rate cuts.
Spot gold was steady at $3,476.48 per ounce as of 0947 GMT, after hitting a record high of $3,508.50 earlier in the session. Bullion has gained 32% so far this year
Forex traders said rupee is trading in a narrow range amid extended weakness in the domestic equities and foreign fund outflows may also weigh on the domestic currency.
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The greenback was pinned near its weakest since September 2021 on the euro, and was at its lowest since January 2015 versus the Swiss franc
The rupee is vulnerable to geopolitical events more now than before
On June 20, Indian rupee closed at 86.60 a dollar, down 0.2 percent from its Thursday's close of 86.73 a dollar. So far in June, the rupee weakened 1.2 percent while so far in 2025 it has fallen 1.1 percent.
The US dollar, long seen as the ultimate safe haven, is behaving oddly in the face of geopolitical and economic stress. Despite high bond yields and global uncertainty, the greenback is weakening — and that’s raising deeper questions about its future
A thriving foreign exchange market facilitates speculation in the dollar and adds to its hegemony
The rupee closed stronger on the day at 85.37 against the U.S. dollar. It had weakened to a near one-month low of 85.8425 in early trading before the Reserve Bank of India stepped in to support the rupee, per traders. The currency declined 0.9% on the week.
Immediately after Russia’s invasion in February 2022, the central bank imposed capital controls and pegged the hryvnia at an official rate of about 29 to the U.S. dollar. Ukraine was forced to devalue later due to a buildup of fiscal imbalances.
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The unit ended the session at 86.56 against the dollar, registering a gain of 25 paise from its previous closing level.
The rupee rose to a peak of 86.54 against the U.S. dollar, its highest since February 21, before closing at 86.57, up over 0.2% on the day.
India's retail inflation eased to a seven-month low of 3.61 percent in February, the first time it stayed below 4 percent in nearly two years
The dollar has erased its post-election gains as market concerns over US tariffs and recession risks intensify.
The rupee closed at 87.2125 against the U.S. dollar, up 0.1% on the day.
The euro pushed to a near four-month peak as German political parties agreed to a 500-billion-euro infrastructure fund. Sterling also stood tall near a three-month high.
At the interbank foreign exchange, the local unit opened at 86.58, went up 10 paise from Friday’s close of 86.68, but gave way through the session.
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According to historical data, CLSA noted that the dollar is hovering around 30 percent above its fair value at the present moment.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,937.83 crore in the capital markets on net basis on Monday, according to exchange data