The Indian rupee may slip to a lifetime low at open on Friday after the dollar index climbed to the highest in more than two years, building on its rally in the last quarter.<\/p>\n
The 1-month non-deliverable forward indicated that the rupee will open at 85.80-85.82 to the U.S. dollar, down from 85.7525 in the previous session and possibly past the all-time low of 85.8075 hit last Friday.<\/p>\n
The dollar index rose 0.7% on Thursday, hitting 109.54, helped by the U.S. jobless claims data.<\/p>\n
The index carried on the momentum of December, when it rallied 7.7%, thanks to Donald Trump’s election victory and the Federal Reserve slashing its forecasts of how many times it will cut interest rates this year.<\/p>\n
“The dollar in the New Year is basically carrying from where it left in 2024. It looks like this dollar rally will not relent till at least the Trump inauguration,” a currency trader at a bank said.<\/p>\n
“I am a bit surprised that we did not see a bigger pop (on dollar\/rupee)” considering the dollar’s up move, he said.<\/p>\n
The rupee’s relatively mild decline could be because the 85.80 level has been defended quite forcefully by India’s central bank, traders said.<\/p>\n
On two occasions in the last week, the Reserve Bank of India sold dollars heavily near 85.80 to help out the rupee.<\/p>\n
The local currency had a difficult time through a large part of December, requiring the central bank to intervene regularly to manage the pace of the decline.<\/p>\n
Apart from the dollar’s strength, India’s wider trade deficit and slowing portfolio flows have dented demand for the rupee.<\/p>\n
Key Indicators:<\/strong><\/p>\n ** One-month non-deliverable rupee forward at 86.08; onshore one-month forward premium at 24.5 paise<\/p>\n ** Dollar index down at 109.16<\/p>\n ** Brent crude futures up 0.3% at $76.1 per barrel<\/p>\n ** Ten-year U.S. note yield at 4.56%<\/p>\n ** As per NSDL data, foreign investors sold a net $69.7 mln worth of Indian shares on Jan. 1<\/p>\n ** NSDL data shows foreign investors sold a net $9.7 mln worth of Indian bonds on Jan. 1<\/p>\n (This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)<\/i><\/p>\n \u200bThe Indian rupee may slip to a lifetime low at open on Friday after the dollar index climbed to the highest in more than two years, building on its rally in the last quarter.\u00a0\u00a0<\/p>","protected":false},"excerpt":{"rendered":" The Indian rupee may slip to a lifetime low at open on Friday after the dollar index climbed<\/p>\n","protected":false},"author":0,"featured_media":12829,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"featured_image_urls":{"full":["https:\/\/alertindianews.in\/wp-content\/uploads\/2025\/01\/54obsvb8_rupees_625x300_31_December_24-VzXDw8.jpeg",960,640,false],"thumbnail":["https:\/\/alertindianews.in\/wp-content\/uploads\/2025\/01\/54obsvb8_rupees_625x300_31_December_24-VzXDw8-150x150.jpeg",150,150,true],"medium":["https:\/\/alertindianews.in\/wp-content\/uploads\/2025\/01\/54obsvb8_rupees_625x300_31_December_24-VzXDw8-300x200.jpeg",300,200,true],"medium_large":["https:\/\/alertindianews.in\/wp-content\/uploads\/2025\/01\/54obsvb8_rupees_625x300_31_December_24-VzXDw8-768x512.jpeg",640,427,true],"large":["https:\/\/alertindianews.in\/wp-content\/uploads\/2025\/01\/54obsvb8_rupees_625x300_31_December_24-VzXDw8.jpeg",640,427,false],"1536x1536":["https:\/\/alertindianews.in\/wp-content\/uploads\/2025\/01\/54obsvb8_rupees_625x300_31_December_24-VzXDw8.jpeg",960,640,false],"2048x2048":["https:\/\/alertindianews.in\/wp-content\/uploads\/2025\/01\/54obsvb8_rupees_625x300_31_December_24-VzXDw8.jpeg",960,640,false],"morenews-large":["https:\/\/alertindianews.in\/wp-content\/uploads\/2025\/01\/54obsvb8_rupees_625x300_31_December_24-VzXDw8-825x575.jpeg",825,575,true],"morenews-medium":["https:\/\/alertindianews.in\/wp-content\/uploads\/2025\/01\/54obsvb8_rupees_625x300_31_December_24-VzXDw8-590x410.jpeg",590,410,true]},"author_info":{"display_name":"","author_link":"https:\/\/alertindianews.in\/?author=0"},"category_info":"Uncategorized<\/a>","tag_info":"Uncategorized","comment_count":"0","_links":{"self":[{"href":"https:\/\/alertindianews.in\/index.php?rest_route=\/wp\/v2\/posts\/12828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/alertindianews.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/alertindianews.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/alertindianews.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12828"}],"version-history":[{"count":0,"href":"https:\/\/alertindianews.in\/index.php?rest_route=\/wp\/v2\/posts\/12828\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/alertindianews.in\/index.php?rest_route=\/wp\/v2\/media\/12829"}],"wp:attachment":[{"href":"https:\/\/alertindianews.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/alertindianews.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/alertindianews.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}