In the week ending September 27, 2024, the reserves reached an all-time high of $704.885 billion.

Meanwhile, the dollar index was marginally down 0.01 per cent to 102.50

At the interbank foreign exchange, the rupee opened at 83.96 against the US dollar and touched an intra-day high of 83.95 and a low of 83.99

At the interbank foreign exchange, the rupee opened at 83.97 against the greenback and traded in the range of 83.92-83.97 during the day

At the interbank foreign exchange market, the local unit opened at 83.92 and finally settled for the day at 83.96 (provisional), higher by 1 paisa over its previous close of 83.97 against the dollar

Meanwhile, the dollar index was down 0.11 per cent to 102.87 points

The decline was primarily due to a decrease in foreign currency assets by $3.511 billion, now at $612.643 billion.

The rupee’s performance was also impacted by the volatile situation in the Middle East, which is expected to keep oil prices elevated and exert further pressure on the currency

At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and traded in a tight range

At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and traded in a tight range

Rupee buoyed by weak crude oil prices, RBI intervention

At the interbank foreign exchange, the rupee opened at 84.03 against the greenback

The reserves shrunk by $10.746 billion during the reporting week to stand at $690.43 billion as on October 11, 2024

A short-lived correction looks likely in the near term

At the interbank foreign exchange market, the domestic unit opened at 84.07 against the greenback and traded in a narrow range throughout the session

Meanwhile, the dollar index was trading 0.28 per cent lower at 104.54

At the interbank foreign exchange, the rupee opened at 84.08 against the greenback, it traded in a tight range and ended the day at 84.07 (provisional), unchanged from its previous close

Despite this increase, the currency is affected by strong dollar demand and outflows from foreign funds, contributing to investor hesitancy.

Volatility is guaranteed as the week is packed with key events

Meanwhile, the dollar index was trading 0.62 per cent lower at 103.63

Meanwhile, the dollar index was trading 0.13 per cent lower at 103.73

Meanwhile, the dollar index was trading 0.22 per cent lower at 104.86

Metals stay mixed and precious metals turn weak as the dollar strengthens