Page 15 - Currency Market

Bank of Japan meeting gives yen a jolt, euro dips amid global volatility

After that excitement, however, the yen last traded flat on the day at 148.0 per dollar, having been as weak as 148.6 and as strong as 146.9

Global currencies stabilise amid Central bank decision uncertainty

Japan's yen was one of the bigger movers, heading away from Friday's 148.80 per dollar, its weakest in a month, to as firm as 147.74, as the Bank of Japan started its two-day policy meeting

Rupee rises 6 paise to 83.08 against US dollar in third straight session

The rupee stayed on upward track for the third straight session and rose 6 paise to 83.08 against the US dollar in early trade on Tuesday amid a weak american currency and favourable crude oil prices. A positive cue from domestic equity markets and sustained buying by foreign institutional investors also supported the Indian currency, forex traders said. At the interbank foreign exchange, the domestic currency opened strong at 83.07 and rose to the level of 83.04 against dollar in initial deals. The local unit then traded at 83.08 against the greenback, registering a rise of 6 paise from its previous close. The domestic currency settled 1 paisa higher at 83.14 on Monday, a day after gaining 9 paise on Friday. Analysts said investors will keep a close watch on domestic inflation numbers as well as the data from the US to be released later this week. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.07 per cent lower

Rupee trades narrowly on 2024's first day, settling at Rs 83.24 a dollar

The narrow movement can be attributed to a combination of factors, including the weakening of the dollar index, and the Reserve Bank of India's proactive measures to maintain stability

India, Oman discussing utilisation of UPI stack, possibility of rupee trade

Kwatra underscored the significance of Oman's successful participation as a special guest country in the G20 during India's presidency, particularly at the G20 summit in September

Rupee settles at new closing low of 83.40 on caution ahead of US Fed meet

The dollar index, which measures the strength of the greenback against a basket of six major currencies, rose to 103.95, against 103.78 on Tuesday

Argentina to devalue peso by more than 50% to help its struggling economy

In recent years, Argentina's central bank has printed more of the peso to help the country's government avoid defaulting on its debt. That has resulted in skyrocketing prices

Rupee closes at new low of 83.39/$; worst performer among Asian currencies

The previous all-time closing low for the rupee was 83.35 a dollar on November 20. The rupee had hit a record low of 83.48 (intraday) against the dollar on November 10

Cash questions

Increased currency circulation is intriguing

Rupee reaches 83.25 against US dollar after fall of 2 paise in early trade

The rupee slipped by 2 paise to 83.25 against the US dollar on Friday as a firm greenback in the overseas markets weighed on investor sentiments. At the interbank foreign exchange market, the rupee opened flat at 83.23 against the US currency following overnight losses in crude oil prices. However, a firm US dollar and weak domestic equity markets restricted the rupee movement and the local currency edged lower by 2 paise to 83.25 in early trade. The rupee closed at 83.23 against the greenback on Thursday. The dollar index, which gauges the greenback's strength against a basket of six currencies, was flat at 104.35. Brent crude futures, the global oil benchmark, recovered from overnight losses to trade higher by 0.40 per cent at USD 77.73 per barrel. Indian basket oil futures were down 0.85 per cent at USD 83.09 per barrel. Brent crude futures for December delivery plunged up to 5 per cent to a four-month low of USD 77.42 per barrel on Thursday as weak jobs data from the US led t

Explore settling trade transactions in local currency: India asks Ethiopia

India has urged Ethiopia to explore possibility of settling bilateral trade transactions in local currency as it will help boost bilateral trade and conserve foreign exchange, an official statement said on Wednesday. The country has also invited the African nation to collaborate on the Unified Payment Interface (UPI) with Ethswitch of Ethiopia. These issues were discussed during the sixth session of India-Ethiopia Joint Trade Committee in Addis Ababa from November 6-7. Both sides also agreed to expeditiously address all issues impeding bilateral trade and facilitate trade promotion between the two countries. "The Indian side urged Ethiopia to explore the possibility of settlement of trade transactions in local currency which will help boost bilateral trade and conserve foreign exchange," the commerce ministry said. "The Indian side also requested the Ethiopian side to expedite the early finalization of the Bilateral Investment Treaty," it added. Ethiopia is one of the fastest gro

Rupee hits fresh closing low of 83.29 due to rise in dollar index

The previous all-time closing low for the rupee was 83.28 on October 16

Currency markets interventions not always 'black and white': RBI Governor

Reserve Bank of India Governor Shaktikanta Das was referring to the U.S. Treasury Department's regular foreign exchange report and similar research by the International Monetary Fund (IMF)

Rupee falls 2 paise to settle at an all-time low of Rs 83.27 per US dollar

The rupee had settled at the same level on September 18

Dollar gains against euro in flight to safety on Israel-Palestinian clashes

The Japanese yen - another traditional safe-haven currency - edged 0.28% higher to 148.89 per dollar

Strengthening dollar puts yen in striking distance of 150, near 1-year low

The yen eased to 149.83 per dollar, its weakest in more than 11 months, moving ever closer to the 150 mark that some traders believe could prompt intervention by Tokyo to support the currency

New quarter, same struggles for stocks, bonds and currency markets

A opening move higher from the pan-European STOXX 600 quickly gave way in the face of some weak PMI data, denting traders' hopes for its first three-session run of back-to-back gains

Despite choppy Q2, rupee shines bright in Asia in first half of FY24

After a steady first quarter, the currency came under pressure in the second quarter following a rise in US yield and rising crude oil prices towards the end of September

Dollar pulls back from highest level since Nov, heat still on yen, euro

The dollar index, which tracks the unit against six other majors, was down 0.3% on the day at 106.3, though it was still on track for an 11th straight week of gains

Taliban controls the world's best performing currency this quarter

It has made online trading illegal and threatened those who violate the rules with imprisonment