The Indian Rupee witnessed a turnaround against the US dollar during 2017. Starting at Rs.67.95 per USD at the beginning of the year, the Indian currency has been under pressure against the greenback which had strengthened during the last quarter of 2016. Socio economic factors like, BREXIT, US Presidential Election and improved financial indicators in the US signaling rate hikes by US Federal Reserves, all had contributed to strengthening of US Dollar towards the end of year 2016. INR slipped further down during the initial part of the year and touched the lowest for the year at Rs.68.32 in January 2017.

The trend got reversed by the end of the 1^st quarter of 2017, with US Fed maintaining the strategy of gradual increase in interest rates. As for Indian Rupee, an overwhelming victory for BJP in Uttar Pradesh provided further impetus to the trend and it could maintain the position of strength backed by improved financial indicators in India, which prompted leading rating agencies to upgrade India’s ratings. Election results in Gujarat and Himachal Pradesh ensured that the Indian Currency ends the year on a strong note at Rs.63.87.

BSE Sensex has been on a bullish run in year 2017. This comes after a dismal 2015 and not so enouraging 2016 in which the index grew by over 7000 points or 27.7% marking one of the best for the last 10 years. Opening at 26711 the index has made steady progress reaching the highest ever intra day level and closure level of 34056 towards the end of the year. 

USD has been going down against most of the currencies from its peak, which it reached towards the end of 2016. Dollar Index (An index to mark dollar movement against a basket of major currencies), from a high of 103.21 during the 1^st week of January fell below 95 during the early part of the second half and remained subdues to close at 92.12.

Oil price remained steady in the late 50 (USD per Barrel) during the 1^st quarter but plunged to low 40’s by end of the 1^st half. It has been on a bullish trend ever since reaching the highest level at USD 68.32 PB for over two years towards end of 2017.

Movement of some of the key indicators during 2017

City Exchange wishes you

a Happy and Prosperous Year 2018

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The Indian rupee opened higher today at Rs.63.33 per USD up by 4 paise as against previous day closure. Rupee had opened at 63.35 and closed marginally lower at 63.37 on Friday. The Indian rupee after the initial surge has been gradually slipping during the morning trade.         

USD has been positive against most of the majors despite a disappointing job data for December 2017, BSE Sensex is trading higher and scaling new all-time highs and Oil continues at USD 67- 68 PB range at 9.00 AM today

Rate for remittance to India @ 58.11 (17.209) for credit on 10.01.2018 (at 9.00.AM) 

(Rates are subject to change during market hours. Please contact for rates for other value dated credits)  

Upcoming events that can impact exchange rate for remittance to India

3^rd quarter results of listed companies in India from the middle of the month

 US FED FOMC Meeting: January 30-31

 Union Budget in India: February 1^st

The Indian rupee opened higher today at Rs.63.33 per USD up by 4 paise as against previous day closure. Rupee had opened at 63.35 and closed marginally lower at 63.37 on Friday. The Indian rupee after the initial surge has been gradually slipping as the day progressed.         

USD has been positive against almost all the majors despite a disappointing job data for December 2017, BSE Sensex closed nearly 200 points up to mark another new all-time high and Oil continues at USD 67- 68 PB range by afternoon

Rate for remittance to India @ 57.96 (17.254) for credit on 10.01.2018  

 (Please contact for rates for other value dated credits)  

Other stats for the day in the afternoon

                               Open                     previous close       Live  

INR Vs USD:          63.33                      63.37                   63.51

BSE Sensex           34216                     34153                  34352

Oil Price                 67.69                      67.62                   67.79

Upcoming events that can impact exchange rate for remittance to India

3^rd quarter results of listed companies in India from the middle of the month

US FED FOMC Meeting: January 30-31

Union Budget in India: February 1^st