Page 3 - Currency

Investors stay bearish on Asian currencies as trade war intensifies: Poll

Bearish positions on the Malaysian ringgit, the South Korean won, Taiwan dollar and the Indonesian rupiah firmed slightly from a fortnight ago

Rupee records steepest single-day fall in 3 weeks against US dollar

The rupee depreciated by around 50 paisa, or 0.58 per cent, to settle at 87.21 against the dollar, compared to the previous close of 86.71 per dollar

Rupee performed well due to strong forex reserves, says Piyush Goyal

Union Commerce Minister Piyush Goyal on Thursday said the Indian rupee has performed well compared to other global currencies due to the country's strong foreign currency reserves. He also said that a skill development centre and a startup incubation centre will come up at AURIC (the industrial node of Shendra and Bidkin) in the near term. Goyal held a meeting with representatives of the industrial association at the AURIC hall on Wednesday to discuss issues related to industrial zones. He addressed the press on Thursday regarding the issues raised in the meeting. While talking about the downfall of the Indian rupee, he said, "The Indian rupee has strengthened in comparison to the emerging economies of the country. After US elections almost all the currencies across the globe have come down. But India had good reserves of foreign exchange so the Indian rupee performed better than that of other currencies". Goyal said, "We had a conversation with the industrial representatives on

Weighted moves: RBI's shock therapy restores stability to the forex market

The Indian currency's rapid fall from 85 to 86 in just 16 days, and from 86 to 87 in another 15 days, highlights the volatility in the foreign-exchange market during those months

Rupee gives up early gains, drops 6 paise to close at 86.89 against dollar

Bids in VRR auction fall short of notified amount of Rs 2.5 trillion

Govt not worried about rupee volatility: Finance and Revenue Secy Pandey

This statement comes after the rupee fell to a record low of 87.29 against the US dollar, depreciating by 67 paise in early trading

India's rating upgrade challenge as debt woes trump fiscal prudence: Fitch

In August, Fitch affirmed India's long-term foreign currency issuer rating at 'BBB-' with a stable outlook, citing a strong medium-term growth outlook

50:50 chance: Will RBI cut rates, infuse liquidity amid currency pressure?

It can, if it is convinced that the adjustment in the rupee valuation has already been done and the local currency has found its own level

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

RBI likely sold dollars heavily before local spot market open, say traders

The rupee was last quoted at 86.5150 per US dollar as of 09:35 am IST, up nearly 0.1 per centon the day

Rupee logs steepest fall in two years, hits record low of 86.58/$

The rupee weakened to 86 per dollar from 85 in just 16 trading sessions. In contrast, its movement from 84 to 85 took 46 working days, while the shift from 83 to 84 happened in 478 days

Best of BS Opinion: Risks and Outcomes in an Uncertain Future

Here's a quick capsule of the best of Business Standard's opinion pages today for your quick reading.

Stop-start in currency volatility: Markets deliver consistent daily shifts

Policymakers can get export growth for some time through subsidies, whether a production-linked incentive or a falsified exchange rate

Banks urge RBI to inject liquidity via foreign-exchange swaps amid crunch

The higher financing costs are posing a challenge for the RBI to support an economy that's witnessing a slowdown in manufacturing activities

Increase in rupee volatility in Dec shows little signs of abating

Implied volatility over 3-month, 6-month period remains elevated

Rupee hits new low for sixth straight session; settles at Rs 85.20

Liquidity deficit widens to 7 month high

Rupee defence strategy: Why RBI should embrace currency flexibility

India now holds about $650 billion in reserves, enough to finance nearly a year of imports. The problem is that global financial markets have even more firepower

Rupee remains under pressure, touches new low of 85.12 per dollar

The local currency had settled at 85.02 per dollar after choppy trading on Friday, touching 85.11 per dollar before regaining ground against the greenback on the back of FTSE rebalancing inflows

India's foreign exchange reserves decline to 5-month low of $654.8 billion

The RBI is expected to have sold net dollars worth $61.1 billion to protect the domestic currency

Trump's trade adviser warns against China's attempt to manipulate currency

Peter Navarro, Trump's new senior counselor for trade and manufacturing, said White House would not interfere with the Treasury's review to see foreign trade partners are not manipulating currencies