Page 24 - Currency Market

Cyclical currencies lead after dust settles on US Federal Reserve

The dollar jumped and stocks swooned last week after the Fed surprised markets by signalling much earlier rate hikes than investors previously expected.

Rupee falls for second day, settles 27 paise down at 74.37 against USD

This marks the second straight day of losses following a stronger dollar overseas.

Forex reserves rise $3.07 billion to lifetime high of $608.08 billion

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Rupee snaps 8-day losing streak; settles 22 paise up at 73.86/USD

The domestic currency had lost 128 paise in the last eight trading sessions till Thursday.

Forex has helped avert a currency run, but continuous inflow has its risks

At a time when India is facing stagflation, its forex reserves have helped avert a currency crisis, but there are unintended consequences of accumulating forex. Manojit Saha explains the risks

India rupee at six-week low; bond yields rise after hawkish Fed signal

Traders said the surge in the dollar index to two-month highs following the Fed's comments on possible rate increases and a significantly higher inflation projection weighed on sentiment

Rupee falls for 6th straight session, settles 2 paise down at 73.31/USD

The domestic currency has lost 51 paise in the six trading sessions to Tuesday.

Rupee extends losses for third session, breaches 73-mark against US dollar

The currency fell by 9 paise

Dollar stuck near 5-month low as caution reigns ahead of US CPI, ECB tests

Investors have adopted a wait-and-see attitude all week, sucking volatility from the market and leaving major currencies mostly range-bound

Rupee falls for second day, settles 8 paise down at 72.97 against US dollar

This comes amid a lacklustre trend in domestic equities.

Rupee falls by 9 paise to 72.89 against US dollar amid weakness in equities

The rupee depreciated by 9 paise to end at 72.89 against the US dollar on Tuesday, tracking a strong dollar overseas and subdued sentiment in the domestic equities. However, a fall in crude oil prices restricted the rupee's fall, forex traders said. At the interbank forex market, the local unit opened slightly up at 72.78 against the greenback and witnessed an intra-day high of 72.76 and a low of 72.90. It finally ended at 72.89 against the American currency, a decline of 9 paise over its previous close. On Monday, the rupee had settled at 72.80 against the US dollar. On the domestic equity market front, the BSE Sensex ended 52.94 points or 0.10 per cent lower at 52,275.57, while the broader NSE Nifty slipped 11.55 points or 0.07 per cent to 15,740.10. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, surged 0.20 per cent to 90.12. Brent crude futures, the global oil benchmark, fell 0.66 per cent to USD 71.02 per barrel. Forei

Rupee strengthens by 8 paise to 72.54 against US dollar in early trade

The Indian rupee appreciated amid improved risk appetite and the broad weakness of the greenback in the overseas market

Every third banknote in circulation is a Rs 500: RBI annual report

The share of Rs 2,000 notes, however, has been declining both in value and volume terms.

Commodity rally sparks jump in emerging-market currencies, credit

Many investors expect more gains as the world pulls out of the pandemic

Large firms can take another 15% rupee drop due to natural hedge: Moody's

Analysing 22 rated Indian firms, Moody's found nearly half of them had dollar revenues or contracts priced in US dollars that protect the local earning

Decoded: Why higher circulation of currency is normal in abnormal times

In a country like India, where inflation is a curse word, currency in circulation has to be curtailed to control inflation

Rupee extends gains for 2nd day; closes up by 7 paise at 74.66 against USD

This came on the back of positive domestic equities

One-month dollar-rupee forward rate curve inverts on arbitrage bets

Many players are utilising these arbitrage opportunities, even as currency dealers say this is temporary

US stops short of branding Vietnam, Switzerland currency manipulators

The Treasury report also said the COVID-19 crisis was likely to continue to affect current account positions over the next year

Sudden movement of the rupee is not a reason to panic, say currency dealers

According to them, a correction was overdue for the rupee that remained the best performing currency in the region for well over a month