Page 13 - Currency Market

Rupee falls 9 paise to 87.16 against US dollar in early trade today

The rupee traded in a narrow range and depreciated 9 paise to 87.16 against the US dollar in early trade on Wednesday, as global trade war has fuelled risk aversion among investors. Forex traders said the rupee is trading with a negative bias over global trade war as market participants mulled the impact of tariffs being imposed by the United States and China. However, any central bank intervention may support the rupee, they added. At the interbank foreign exchange, the rupee opened at 87.13 then fell further to 87.16 against the American currency, registering a decline of 9 paise over its previous close. On Tuesday, the rupee recovered 4 paise from its all-time low level to close at 87.07 against US dollar. "For now the trade war seems to have slowed down as we await comments from Donald Trump on European exports and also on currencies. Meanwhile, the rupee remains range bound within a range of 86.90/87.25," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finre

Thomas Cook Q3 result: Profit dips 47.7% to Rs 47.3 cr impacted by expenses

Thomas Cook (India) Ltd on Monday reported a 47.7 per cent decline in consolidated net profit to Rs 47.3 crore in the December quarter, impacted by higher expenses. The company had posted a consolidated net profit of Rs 90.53 crore in the same period in the last fiscal year, Thomas Cook (India) said in a regulatory filing. Consolidated income from operations during the quarter under review stood at Rs 2,061.01 crore as compared to Rs 1,893.13 crore in the year-ago period, it added. Total expenses in the quarter were higher at Rs 2,008.12 crore as compared to Rs 1,834.02 crore in the same quarter of the last fiscal year. "Despite escalated geopolitical tensions and abnormal currency volatility during the quarter impacting international DMS (destination management services) operations, we maintained our margins, reflecting our focus on effective cost management and sustainable growth across our lines of business," Thomas Cook (India) Executive Chairman Madhavan Menon said. Travel an

RBI injects $5.1 billion liquidity through oversubscribed FX swap auction

The RBI accepted 28 bids, totaling $5.1 billion, in the auction and the premium cut-off was set at 96.81 paisa, slightly below the prevailing market level before the auction results were announced

Paring initial losses, Rupee rises 2 paise to close at 86.55 against dollar

The rupee pared its initial losses and settled for the day on a positive note, higher by 1 paisa to close at 86.56 (provisional) against the US dollar on Wednesday, supported by positive domestic markets, while a strong US dollar and a recovery in crude oil prices capped sharp gains. Forex traders said the US dollar gained on expectations of a no rate cut by the Fed in its Federal Open Market Committee (FOMC) decision. Besides, global risk sentiments were dampened amid tariff threats by the US President Donald Trump, they said. At the interbank foreign exchange, the rupee opened on a weak note at 86.58, and during the day touched a high of 86.49 and a low of 86.61 against the American currency. The local unit settled on a positive note at 86.56 (provisional), registering a rise of 1 paisa over its previous close. On Tuesday, the rupee depreciated 26 paise to close at 86.57 against the US dollar. "We expect the rupee to trade with negative bias on underlying strength in the US doll

Rupee weakens amid yuan slide, potential equity outflows, trade concerns

Investors' focus will be the Federal Reserve's policy this week. The Fed is widely expected to make no changes to the policy rate and no new projections on inflation and rates are due at this meeting

Rupee logs biggest weekly gain in over 17 months as dollar softens

The rupee appreciated and settled at 86.21 per US dollar on Friday, compared to its closing level of 86.47 on Thursday, marking a weekly gain of 0.47 per cent

Rupee posts biggest weekly gain in over a year, underperforms peers

The dollar/rupee forward premiums, meanwhile, extended declines this week, as the Reserve Bank of India conducted buy/sell swaps alongside its spot intervention

Rupee rises 18 paise to 86.26 against US dollar in early trade today

Rupee appreciated 18 paise to 86.26 against the US dollar in morning trade on Friday, supported by positive domestic equities and soft American currency index. Forex traders said weak crude oil prices and positive domestic markets supported the local unit, while sustained foreign fund outflows weighed on the local unit. Traders further noted that the upcoming Union Budget will play a crucial role in shaping market sentiment and the rupee's trajectory. At the interbank foreign exchange, the rupee opened at 86.31 and touched 86.26 against the US dollar, registering a rise of 18 paise from its previous close. The local unit also touched 86.33 against the US dollar initial trade. On Thursday, the rupee declined 9 paise to settle at 86.44 against the US dollar. The rupee has shown signs of resilience, appreciating over the past two trading sessions due to a weakening dollar. Moreover, on a positive note, upcoming inflows from fundraising activities by IREDA of USD 570 million are expec

Rupee rises 14 paise to 86.46 against US dollar in early trade today

Rupee appreciated 14 paise to 86.46 against the US dollar in morning trade on Monday, tracking a positive trend in domestic equities and Asian currencies. Forex traders said factors like elevated Dollar Index level as well as surging crude oil prices pose significant headwinds for the USD/INR pair. At the interbank foreign exchange, the rupee opened at 86.48 and touched 86.46 against the greenback, registering a gain of 14 paise over its previous close. On Friday, the rupee had settled at 86.60 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.22 per cent at 109.10. Brent crude, the global oil benchmark, fell by 0.12 per cent to USD 80.69 per barrel. The overall strength of the American currency and elevated crude oil prices are likely to strain India's trade balance, creating challenges for sustained rupee appreciation, forex traders said. As Asian currencies rose Indian rupee ope

Rupee REER declines in December after November peak, shows RBI data

The REER is expected to have declined further in January 2025, said market participants

Rupee falls 2 paise to 86.55 against US dollar in early trade today

The rupee pared its initial marginal gain and slipped 2 paise to 86.55 against the US dollar in early trade on Wednesday as the positive sentiment in the domestic equity markets was negated by elevated crude oil prices and massive withdrawal of foreign funds. A retreating American currency, however, supported the Indian currency at lower level, forex traders said. At the interbank foreign exchange, the rupee opened at 86.50 and touched 86.45 against the greenback in initial deals. However, the local unit soon pared the gains and traded at 86.55 against the dollar, 2 paise lower from its previous close. On Tuesday, the rupee rebounded from its lowest-ever level and settled with a gain of 17 paise at 86.53 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03 per cent lower at 109.07. Brent crude, the global oil benchmark, rose 0.06 per cent to USD 79.96 per barrel in futures trade. In the domesti

Rupee down 27 paise at record low of 86.31 against US dollar in early trade

The rupee's slide show went on for the second straight session on Monday as it crashed 27 paise to hit a new lifetime low of 86.31 against the US dollar, dragged down by a robust American currency amid volatile global cues. A record surge in crude oil prices, sustained outflow of foreign capital, and a negative trend in domestic equity markets also kept the Indian currency under pressure, forex traders said. The dollar, they said, strengthened on better-than-expected job growth in the US market, which also fuelled the benchmark treasury yields amid expectations of slower interest rate cut by the Federal Reserve. At the interbank foreign exchange, the rupee opened at 86.12 and fell to the historic low level of 86.31 against the greenback in initial deals, registering a steep loss of 27 paise from its previous close. On Friday, the rupee declined 18 paise to settle at 86.04 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of

Rupee hits new low of 85.97/$; forex reserves drop further to $634 billion

The local currency edged higher by 3 paise on Friday against the previous low of 85.94 recorded on Thursday

Rupee logs 9th straight week of losses, analysts expect more weakness

The rupee may touch the 86-per-dollar mark in the short term, said Jigar Trivedi, a senior analyst at Reliance Securities, who recommends buying the dollar-rupee pair on every dip

Rupee closes at fresh low of 85.76 against dollar despite RBI intervention

State-run banks were spotted selling dollars to the tune of $800 million to $1 billion, traders said

Rupee falls 9 paise to 85.61 against US dollar in early trade today

The rupee dropped 9 paise to 85.61 against the US dollar in early trade on Tuesday, weighed down by significant strengthening of the American currency in the overseas market and a muted trend in domestic equities. Forex traders said the rupee has been under continued pressure amid the Federal Reserve's cautious stance and the "Trump factor" driving up the dollar index (DXY) and US 10-year yields. Additionally, on the domestic front, slowing growth, widening trade deficit, and persistent foreign fund outflows have further fueled the rupee's depreciation. At the interbank foreign exchange, the rupee opened on a weak note at 85.54 then fell further to 85.61 against the American currency, registering a fall of 9 paise over its previous close, on month-end dollar demand from importers and oil marketing companies. On Monday, the rupee dropped 4 paise to 85.52 against the US dollar. According to Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP, th

Asian stocks, dollar hold on 'cautious trade' to close out strong 2024

Volumes were light with holiday for New Year looming and Japan on holiday for the rest of the week, with the Santa-rally losing some steam as elevated Treasury yields weigh on high equity valuations

Rupee hits all-time low pressured by weak Yuan, strong dollar bids

The RBI's frequent interventions have supported the rupee in the face of multiple headwinds, including a hawkish shift in the Federal Reserve's outlook for policy rates over 2025, concerns about India

Rupee falls past 85/USD to all-time low after hawkish US Fed outlook

The last time the local unit traded below the 83 mark against the US dollar was on December 18 last year, when it hit 82.19 during intraday deals

Rupee hits new low of 84.96 per dollar, US Fed meet outcome in focus

RBI sold dollars via state-run banks, which avoided further depreciation, said dealers