Page 25 - Currency Market

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

Analysts see rupee at 76.5; Four factors that may guide the trajectory

Rupee vs Dollar: Over the short-term, currency watchers expect the rupee to fall on the back of the RBI's plan to buy government bonds worth Rs 1 trillion from the secondary market

Sterling hits $1.40 for first time in nearly 3 years on vaccine hopes

At 0857 GMT, the pound was at $1.4005 against the dollar

Rupee falls 24 paise to 73.48 against the US dollar in early trade

The rupee depreciated 24 paise to 73.48 against the US dollar in opening trade on Monday, tracking a rebound in the American currency even as domestic equities were trading with significant gains

Rupee surges 19 paise to 73.12 against the US dollar in early trade

The rupee appreciated by 19 paise to 73.12 against the US dollar in opening trade on Thursday supported by sustained foreign fund inflows and weakness of the American currency in the overseas market

Indian rupee set to return near pre-Covid-19 levels by March, says Nomura

Nomura expects the rupee to bounce back to 72 per dollar by end-March, a level last seen in February

Rupee slumps 33 paise to 74.74 against the US dollar in early trade

The rupee depreciated 33 paise to 74.74 against the US dollar in opening trade, tracking strong American currency ahead of the US Presidential election results

RBI to extend trading hours to 3:30 pm from 2 pm starting November 9

Move follows graded roll-back of lockdown and easing of curbs on movement; restoration of trading hours to be done in phases

Managing markets

Bond and currency markets would increase policy difficulties

Rupee settles flat at 74.94 against US dollar after RBI keeps rates on hold

During the session, it had witnessed an intra-day high of 74.77 and a low of 74.96 against the greenback

Bond and currency dealers baulk at the thought of joining back office

While an official rule allows only 10% staff in office on any working day, trading typically requires dealer presence on the floor. And banking is an essential service