Usd vs indian rupee

The euro was up 0.42% to $1.08 on Tuesday, after touching its highest since May 23 earlier in the session at $1.081. That helped push the dollar index, which measures the currency against six peers, down 0.3% to 103.27. "The dollar fell against most of the Asian currencies before the release of US inflation numbers later in the evening. The fall in crude oil prices, risk-on sentiments and upbeat economic data supported the rupee in today’s trade. Ahead of three major central banks’ policy decisions, the risk sentiment remains on its front foot with equities trading higher and the US Dollar mostly lower against major currencies," said Dilip Parmar, Research Analyst, HDFC Securities According to Parmar, spot USD/INR has support at 82.25, the 50 and 100 days simple moving average, and resistance at 82.70. Meanwhile, crude oil prices recovered, with both the benchmarks trading around 2% higher, limiting gains in the local currency. Brent crude futures jumped 2.10% to $73.35 a barrel, while US West Texas Intermediate (WTI) crude rallied 1.86% to $68.37 a barrel. On the domestic front, upbeat macroeconomic data fuelled gains in the The India's On Monday, the foreign institutional investors (FII) sold Indian shares worth ₹626.62 crore, while the domestic institutional investors (DII) net purchased shares worth ₹1,793.85 crore, data available on the exchanges showed. Read all Market-related news here

The Indian rupee breached the psychologically significant exchange rate level of 80 to a US dollar in early trade on Tuesday. It recovered some ground to close at 79.90. Since the war in Ukraine began, and crude oil prices started going up, the rupee has steadily lost value against the dollar. There are growing concerns about how a weaker rupee affects the broader economy and what challenges it presents to policymakers, especially since India is already grappling with high inflation and weak growth. Express View | What is the rupee exchange rate? The rupee’s exchange rate vis-à-vis the dollar is essentially the number of rupees one needs to buy $1. This is an important metric to buy not just US goods but also other goods and services (say crude oil) trade in which happens in US dollars. Broadly speaking, when the rupee depreciates, importing goods and service becomes costlier. But if one is trying to export goods and services to other countries, especially to the United States, India’s products become more competitive because depreciation makes these products cheaper for foreign buyers. ExplainSpeaking | How bad is it for the rupee? Chart 1 shows the rupee’s exchange rate against the dollar. The dotted line shows the long-term trend of depreciation. If the rupee depreciates at a rate faster than the long-term average, it goes above the dotted line, and vice versa. In the last couple of years, the rupee has been more resilient than the long-term trend. The current fall has ...