Business Standard

Rupee drops after Fed disappoints

Related News

The fell the most in more than a week after US policy-makers refrained from announcing more steps to spur growth, damping demand for riskier assets.

The rupee declined 0.7 per cent to 55.84 per dollar in Mumbai, the biggest drop since July 23, according to data compiled by Bloomberg. The currency touched 55.90 earlier, the weakest level since July 26. One-month implied volatility, a measure of exchange-rate swings used to price options, rose 10 basis points, or 0.10 percentage point, to 11.40 per cent.

Three-month onshore rupee forwards traded at 56.81 per dollar, compared with 56.54 yesterday, and offshore non-deliverable contracts were at 56.88 from 56.50. Forwards are agreements to buy or sell assets at a set price and date. Non- deliverable contracts are settled in dollars.

The reviewed policy later in the day. But the bank did not change interest rates. Last week President Mario Draghi’s had pledged to do “whatever it takes” to preserve the euro.

Call rates steady
closed stable as demand from borrowing banks matched supplies. The rate finished stable at eight per cent, it moved in a range of 8.10 per cent and 7.90 per cent.

The Reserve Bank of India under the purchased securities worth Rs 26,015 crore in 18 bids at the one-day repo auction, at a fixed rate of eight per cent.

Read more on:   
|
|
|
|
|

Read More

Rupee gains on better-than-expected GDP, euro rally

The Indian rupee rebounded from session lows to gain for the day after the economy grew more strongly-than-expected in the April-June quarter, while ...

Quick Links

More news from Finance Rss icon

Financial viability will be a challenge for Payment Banks: Paytm

Seeks clarification from RBI on branch, corporate structure

2-level verification to be partly relaxed

Hope to see outlines of such a structure in 2 months, says dy governor; asks for initiatives to help move towards obviating use of cash for ...

FIPB clears HDFC Bank and Ratnakar Bank FDI proposals

HDFC Bank had applied for FIPB approval for expanding its equity base by up to Rs 10,000 crore and Ratnakar Bank for capital raising

Back to Top