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Rupee Vs Dollar
The rupee appreciated 50 paise to 95.24 against the US dollar on Friday after the RBI liberalised norms for FPI investment in government securities. Forex traders said the announcements in the RBI policy boosted investor sentiments after the apex bank asserted that the country's forex reserves provide sufficient buffer against external shocks. At the interbank foreign exchange market, the rupee opened at 95.72, then touched 95.24 in intraday trade, registering a rise of 50 paise from its previous close. On Thursday, the rupee rose 2 paise to settle at 95.74 against the US dollar. The Reserve Bank on Friday expectedly kept interest rates unchanged for the second time in a row as it weighed the impact of rising energy prices and supply disruptions caused by the West Asia crisis. Announcing the second bi-monthly monetary policy for the current fiscal, RBI Governor Sanjay Malhotra said the Monetary Policy Committee (MPC) has unanimously decided to retain short-term lending rate or rep
The rupee depreciated 28 paise to 95.64 against the US dollar in early trade on Wednesday, after the US Trade Representative proposed 12.5 per cent additional duties on India and 53 other countries over forced labour import violations. Forex traders said the US Trade Representative's action, amid fresh hostilities and stalled talks between the US and Iran, weighed on investor sentiment. At the interbank foreign exchange market, the rupee opened at 95.43 against the US dollar, then touched 95.64 in early trade, down 28 paise from its previous close. On Tuesday, the rupee depreciated 17 paise to close at 95.36 against the US dollar. The US Trade Representative has proposed imposing 12.5 per cent additional duties on 54 countries, including India, for failing to prohibit the import of goods produced with forced labour. The action follows investigations launched against 60 countries over what the USTR described as their failure to impose and effectively enforce bans on imports made wi
The rupee appreciated 16 paise to 95.03 against US dollar in early trade on Tuesday, as the market weighed India's strong domestic fundamentals against ongoing geopolitical uncertainty. Forex traders said the USD/INR pair opened on a positive note this morning on a slight risk off sentiment. However, the uncertainty surrounding West Asia continues to cast a shadow over financial markets and energy prices. At the interbank foreign exchange market, the rupee opened at 95.16 against the US dollar, then touched 95.03 in early trade, up 16 paise from its previous close. On Monday, the rupee depreciated 34 paise to close at 95.19 against the US dollar. Market participants are now turning their attention to two key events closer to home -- the RBI policy decision scheduled for June 5, the second event is the ongoing trade dialogue between India and the United States, CR Forex Advisors MD Amit Pabari said. A US delegation led by Assistant US Trade Representative Brendan Lynch will begin .
The rupee depreciated 9 paise to 94.94 against the US dollar in early trade on Monday weighed down by elevated crude oil prices as the Israel-Lebanon conflict escalated. Forex traders said Dollar Index was nearer to 99 levels while oil prices rose to USD 93 per barrel after Israel-Lebanon conflict escalated following sharp weekly drops as Washington and Tehran discussed potential ceasefire that could eventually ease out the disruptions around Strait of Hormuz. At the interbank foreign exchange market the rupee opened at 94.93 then lost some ground and touched an early low of 94.94, registering a fall of 9 paise from its previous close. In initial trade, the rupee also touched 94.75 against the American currency. On Friday, the rupee appreciated 73 paise to close at 94.85 against the US dollar on suspected interventions by the RBI. "The rupee closed at a high as RBI was present in the market selling dollars ensuring that it did not cross 96.00 levels again. Though there were outflo
The rupee rose 5 paise to 95.53 against the US dollar in early trade on Friday, after the US and Iran reached an understanding to extend the ceasefire for another 60 days. Forex traders said the agreement is expected to keep trade flowing through the strategic Strait of Hormuz while both countries continue negotiations around Iran's nuclear program. At the interbank foreign exchange market, the rupee opened at 95.77 against the US dollar, then gained ground and touched 95.53 in early trade, up 5 paise from its previous close. In initial trade the rupee also touched 95.78 against the American currency. On Wednesday, the rupee settled higher by 12 paise at 95.58 against the US dollar. Domestic equity and forex markets were closed on Thursday on account of Eid-ul-Azha. US and Iranian negotiators reached a tentative agreement on Thursday to extend the ceasefire in the three-month-old war by 60 days. "For markets, this mattered because it reduced immediate fears of fresh disruption in
The rupee slipped 8 paise to 95.78 against US dollar in early trade on Wednesday on elevated crude oil prices as fresh US strikes dampened optimism for an imminent US-Iran peace deal. Forex traders said escalating US-Iran conflict is again boosting safe-haven demand for the dollar. Moreover, Brent oil remained well bid at USD 98 levels as risk aversion, geopolitical risk and war clouds in West Asia kept it higher. At the interbank foreign exchange market, the rupee opened on a positive note at 95.60, but soon pared the gains and fell to 95.78 against the American currency, registering a fall of 8 paise from its previous close. On Tuesday, the rupee depreciated 44 paise to close at 95.70 against the US dollar. "The rupee slipped after crude oil prices rebounded as hopes of an immediate USIran peace deal faded slightly. Reports of renewed US strikes on Iran and delays in negotiations kept markets cautious, even though investors still believe a broader resolution remains possible," C
The rupee fell 17 paise to 95.43 against US dollar in early trade on Tuesday, as month-end dollar demand and elevated crude oil prices weighed on investor sentiments. Forex traders said the broader pressure on the rupee is likely to continue as long as geopolitical tensions remain elevated. Moreover, RBI measures and liquidity support may help provide temporary relief and contain volatility in the near term, they said. At the interbank foreign exchange market, the rupee opened at 95.43 against the US dollar, down 17 paise from its previous close. On Monday, the rupee gained 34 paise to close at 95.26 against the US dollar with the RBI selling dollars and keeping the rupee well bid at all upper levels. Meanwhile, Brent oil prices rose after they touched USD 93 per barrel with reports of fresh attacks against Iran offsetting hopes of a deal to reopen Strait of Hormuz. US President Donald Trump on Monday said negotiations with Iran to end the war were progressing "nicely", but offici
The rupee appreciated 40 paise to 95.20 against US dollar in early trade on Monday on optimism that the US and Iran were moving close to a peace deal even though they remained at odds over key issues, including blockades on the Strait of Hormuz. Forex traders said the rupee opened on a positive note as the US and Iran have "largely negotiated" a peace pact to end the nearly three-month war. US President Donald Trump has told the negotiators "not to rush into a deal" and that "both sides must take their time and get it right". Moreover, US Secretary of State Marco Rubio said the US and India are on the verge of finalising an interim trade agreement after progress in negotiations with the US Trade Representative to visit India very soon. At the interbank foreign exchange market, the rupee opened at 95.36 against the US dollar, then touched 95.20 in early trade, up 40 paise from its previous close. On Friday, the rupee rose 75 paise to close at 95.60 against the US dollar. "The trad
The rupee rose 18 paise to 96.18 against the US dollar in early trade on Friday, on slight cooling in crude oil prices, tentative signs of easing geopolitical tensions, and active RBI intervention in the market. Forex traders said markets found some comfort after comments from US Secretary of State Marco Rubio hinted that diplomatic talks linked to the Iran situation were moving in a constructive direction. Although Rubio warned that he does not want to be "overly optimistic," the comments were enough to calm markets temporarily. As a result, Brent crude oil cooled near the USD 104 mark, reducing immediate pressure on the rupee, traders said. At the interbank foreign exchange market, the rupee opened at 96.30 against the US dollar, then touched 96.18 in early trade, up 18 paise from its previous close. On Thursday, the rupee rebounded 50 paise from its all-time closing low to settle at 96.36 against the US dollar. "Another major reason behind the rupee's recovery is growing confi