Page 25 - Currency Market

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

Despite Moody's rating downgrade, indicators point to rupee revival

Currency dealers say the Reserve Bank of India (RBI) intervened in the currency markets, and may have even bought some bonds anonymously from the secondary markets.

Sitharaman launches two exchanges to take on offshore currency market

The launch comes amid the world's most expansive coronavirus lockdown, which has crippled businesses and hurt trading volumes in the country's financial markets.

Covid-19 impact: Bond and currency markets to close at 2 pm till April 30

Such curtailed hours, in which bond and currency markets operated between 10 am and 2 pm, from 9 am to 5 pm in normal times, were in force till April 17

Rupee payment permissible for exports to Bhutan, says expert

If you are able to satisfy the Customs that you had valid reasons to do so, there may be no adverse implications

Bond, currency markets witness high volatility in FY20 over Covid-19 fear

While the rupee hit its lifetime low of about 76.30 a dollar, the 10-year bond yields fell to 6 per cent, as Covid-19 led to an unprecedented slide in financial assets worldwide

Work from home still not an option for currency traders amid coronavirus

In currency, the interbank rates can be availed only through a few platforms, including Murex, Calypso, and Reuters

Market rout: RBI intervenes to protect continuously falling rupee

"The central bank may have been intervening in these markets in small measures in the past too, but Friday's action was quite loud," said a senior currency dealer requesting anonymity.

Expanding COVID-19 pandemic may take rupee to 75 vs the dollar

The only respite to the market sentiment is stimulus measures that nations are implementing to counter the economic impact from the coronavirus.

Rupee tumbles 70 paise against US dollar, hits 17-month low

The new coronavirus outbreak can now be described as a pandemic, the head of the World Health Organization announced Wednesday.

Reserve Bank of India buys net $6.93 bn in currency market in November

The Reserve Bank of India (RBI) bought $7.46 billion and sold $530 million in the market in November, it said in the bulletin which was released on Saturday

At $1.6 trn a day, EM currency trading outpaces peers, rupee deals double

In early 2016, emerging-market currencies began a two-year rally that took MSCI Inc.'s gauge to a record as investors sought higher-yielding assets

Currency market eyes Chinese yuan, sees RBI reserve accumulation

China and the United States have softened their stance on trade tensions, but this is nowhere a resolution, say currency dealers

The inseparable twin of a trade war

The depreciation of the renminbi in recent weeks has raised fears that China is aiming to counter US tariffs by weaponising its currency

Handle with care

Sovereign borrowing in foreign currency has inherent risk

Bond and currency markets differ on where interest rates are headed

While the bond market is relatively conservative about their interest rate expectations, the currency market seems to be projecting that interest rates should be much sharper