Rupee makes a five -month less hit at 86.78 against the USD due to market pressure, offset by FII flow and foreign exchange reserves. File | Photo Credit: Reuters
The rupee shut down on Monday (June 23, 2025) after a strong dollar and volatile crude oil prices after the US strike on Iran’s nuclear facilities on Monday (June 23, 2025) against the US $ 86.78 (five -month -low of 86.78) against the US dollar.
According to foreign exchange experts, a sharp decline in domestic equity markets put pressure on the rupee.
However, strong FII flows, with the increase in the country’s foreign exchange reserves, prevents more losses in rupees, he said.
In interbank foreign currency, the rupee opened against Greenback at 86.75 and traded in the range of 87.67 to 86.85 before settling at a five -month low of 86.78 (provisional), which was below his previous bandh of 86.55 on Friday (20 June 2025).
The rupee closed at 86.70 against the dollar on 13 January.
“The rupee fell by 86.85 due to high oil prices in the morning and then the oil started falling and the importers were given a chance to buy dollars for their near period. The rupee increased to 86.67, but the oil demand was quite high,” Anil Kumar Bhansali, Treasury and Executive Director, Finrex Treasury Advisor said.
He said, “The rupee went back to 85.82, where the Reserve Bank was a seller and the rupee movement was kept beyond today,” he said.
Global oil benchmark brant crude, futures trading 0.08% to $ 77.07 per barrel.
The dollar index, which detects the strength of greenback against a basket of six currencies, was trading 0.60% more at 99.29.
Mr. Bhansali said, “The rupee is expected to be 86.50-86.90, it depends on how oil prices behave.”
In the domestic equity market, 30-cheer BSE Sensex gave a tank to settle the 511.38 points at 81,896.79, while the Nifty fell 140.50 points, falling to 24,971.90.
According to exchange data, foreign institutional investors (FII) bought a price of 7,940.70 crores on a pure basis on Friday (June 20, 2025).
The latest weekly data released by the Reserve Bank of India on Friday (June 20, 2025) rose 2.294 billion to $ 698.95 billion to $ 2.294 billion to $ 698.95 billion during the week ended on 13 June.
Published – June 23, 2025 04:45 pm IST
