The Indian rupee closed at 90.0175 per U.S. dollar, down 0.15% from its previous close. Weakness stemmed from dollar strength, importer demand, and cautious investor sentiment. Analysts expect near-term volatility driven by global cues, though India’s macroeconomic fundamentals remain supportive.
The Indian rupee ended Thursday’s session at 90.0175 per U.S. dollar, marking a 0.15% decline from the previous close. The currency’s weakness was attributed to a stronger dollar index and cautious investor sentiment ahead of key global economic data releases.
Key Highlights
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Closing Level: Rupee settled at 90.0175 per dollar, down 0.15%.
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Dollar Strength: The U.S. dollar firmed against major currencies, weighing on emerging market units.
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Domestic Factors: Importer demand for dollars and subdued equity flows added pressure on the rupee.
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Global Context: Investors remained cautious amid expectations of U.S. Federal Reserve commentary and oil price fluctuations.
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Market Sentiment: Analysts noted that while the rupee’s fundamentals remain stable, near-term volatility is likely as global cues dominate.
Strategic Insight
The rupee’s modest decline highlights its sensitivity to global currency trends. With crude oil prices and U.S. monetary policy in focus, traders expect continued short-term fluctuations, though India’s macroeconomic stability provides a supportive backdrop.
Sources: Reuters, Economic Times, Business Standard, Moneycontrol