Page 7 - Currency

Health insurance safety, adventure sport boom: Top personal finance stories

Our pick of best stories this week explains why medical claims are rejected and how Indians are seeking thrill

A glimmer of hope: Debt, hybrid funds may gain currency in Samvat 2080

Most believe that debt funds will attract higher flows over the next 12 months as the interest rate trajectory could trend lower throughout the year

Rupee touches lifetime low of 83.48 vs dollar after Fed's hawkish comments

Absence of RBI support might have pulled down rupee, say market experts

Rupee falls 9 paise to close at all-time low of 83.33 against US dollar

The rupee depreciated 9 paise to close at an all-time low of 83.33 (provisional) against the US dollar on Wednesday, tracking a strong greenback against major rivals overseas and unabated foreign capital outflows. Besides, a negative trend in domestic equities and elevated crude oil prices amid geopolitical uncertainty in the Middle East weighed on investor sentiments, according to forex traders. At the interbank foreign exchange, the rupee opened at 83.26 against the dollar. During the trading session, it touched an intra-day low of 83.35 and a high of 83.26 against the American currency. The local unit finally settled at its lifetime low of 83.33 (provisional), lower by 9 paise against its previous close. On Tuesday, the rupee settled at 83.24 against the American currency. "We expect the rupee to trade with a slight negative bias on the strong Dollar amid geopolitical uncertainty in the Middle East. Weak tone in domestic markets may also weigh on the rupee. "Traders may take c

Rupee ends flat as Reserve Bank's support counters month-end dollar demand

The rupee closed at 83.25, little changed from its close at 83.2450 in the previous session. The currency traded in a narrow 83.2450 to 83.27 range in the spot session

Many faces of OMO

The OMO sale is quite an innovative way to address the concerns around currency

Rupee ends at record closing low on intensifying geopolitical worries

The rupee closed at 83.2775 against the U.S. dollar, little changed from its previous close of 83.2625. The currency hit its previous record closing low of 83.2675 on Sept. 18

US should rethink currency manipulator list: RBI governor Shaktikanta Das

There has to be a two-sided appreciation of the challenges" emerging markets face dealing with spillover effects of advanced economy policies, said

The bull case for emerging markets in 2023 is now finally shattering

Investors have also fled bonds, with both local- and hard-currency fixed income indexes sliding in the third quarter, according to data compiled by Bloomberg

Inclusion of Indian bonds in JP Morgan index to widen investor base: CEA

The inclusion of G-Secs will be staggered over a 10-month period from June 28, 2024 to March 31, 2025, indicating one per cent increment on its index weight

Rupee falls to record closing low as rising oil pushes up dollar demand

Possible dollar sales from the RBI helped the local unit stay above lifetime lows. The rupee had fallen to a record low of 83.29 in October last year

India digital rupee transactions hits 18,000 a day, still below target

The central bank last year began pilot programmes to use the e-rupee in retail and wholesale markets as an alternative to cash

NSE's currency derivative segment sees transactions of Rs 609 trn in 15 yrs

Leading bourse NSE's exchange-traded currency derivatives, which completes 15 years on Tuesday, witnessed close to 2,000 crore contracts worth Rs 609 lakh crore transactions during its journey. The National Stock Exchange of India (NSE) introduced the Exchange Traded Currency Derivatives segment on August 29, 2008, with the launch of Futures on currency spot rate US Dollar - Indian Rupee. The first day of trading witnessed trading of 65,798 contracts worth Rs 291 crore with participation from more than 150 trading members, including banks. "In the 15 years journey, close to 20 billion contracts worth Rs 609 trillion have transacted on the exchange," the bourse said in a statement on Monday. In the last 10 years, the number of contracts traded has increased by 7 times from daily average contracts traded to 1.92 crore in the financial year 2022-23 (FY23) from 27 lakh in FY14. During the same period, turnover has risen by 3.4 times from a daily average turnover of Rs 41,400 crore in F

Experts blame grey market, IMF as Pakistani rupee goes into free fall

Tresmark CEO Faisal Mamsa said, "The interim government trying to overstep its perceived capacity, which is sending a conflicting message to markets

Expansion of Brics, use of national currency among key agendas of summit

Development dimension and issues that are so crucial and critical for the Global South, will be part of the discussion in the BRICS Summit, scheduled on August 22-24 said Dammu Ravi, BRICS Sherpa

Rupee slips to 10-month low on dollar strength, RBI likely capped losses

The rupee ended at 82.9500 to the U.S. currency compared with a previous close of 82.8450

Global currency markets stabalises after yen hits lowest level since Nov

The dollar hit a one-month high against a basket of other major currencies as investors sought a safe haven on concerns about China's economy, but then eased

World Bank mulling local currency lending in countries like India: Official

The World Bank is mulling local currency lending in countries like India to help borrowers save on costs, a senior official said on Friday. "How do we do local currency lending for a country like India is also something we are trying to think of at a price which is advantageous to this country," Anshula Kant, the Managing Director and Chief Financial Officer of the World Bank, said. Speaking at the event on global economy organised by the Ministry of Finance and the Reserve Bank of India (RBI) as part of India's G-20 presidency, Kant said the Indian government has a "huge advantage" in local currency borrowing as compared to the World Bank, even though the Washington DC-based multilateral bank is rated AAA. In some countries like the ones in Africa, which do not possess market infrastructure from where the bank can borrow, the bank may not adopt the local currency lending strategy, Kant said. At the event, Chief Economic Advisor to the Government of India V Anantha Nageswaran said

Rupee rises by 5 paise to 82.80 against US dollar ahead of MPC announcement

The rupee appreciated by 5 paise to 82.80 against the US dollar in early trade on Thursday ahead of the Reserve Bank of India's monetary policy decision. However, weak domestic equities and elevated crude prices weighed on the local unit, said analysts. Investors were trading cautiously ahead of the Reserve Bank's rate-setting panel MPC's monetary policy decision. The MPC meeting started its three-day review meeting on Tuesday. At the interbank foreign exchange, the domestic unit opened stronger at 82.81 against the dollar and touched 82.80, registering a gain of 5 paise over its previous close. On Wednesday, the rupee appreciated 6 paise to settle at 82.85 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.02 per cent to 102.47. Global oil benchmark Brent crude was trading 0.14 per cent lower at USD 87.43 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 211.55 points

Rupee falls 31 paise to 82.23 against the US dollar in early trade

The rupee plunged 31 paise to 82.23 against the US dollar in early trade on Friday amid massive outflow of foreign funds and subdued equity markets. Elevated level of crude prices nearing USD 84 a barrel also weighed on the domestic unit even as the American currency gained strength on the back of better-than-expected GDP numbers from the US, forex traders said. At the interbank foreign exchange, the domestic unit opened weak at 82.30, then touched a high of 82.19 against the American currency. It later traded at 82.23, registering a fall of 31 paise over its previous close. On Thursday, the rupee had settled at 81.92 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell marginally by 0.02 per cent to 101.76. Brent crude futures, the global oil benchmark, was trading 0.40 per cent lower at USD 83.90 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 227.44 points or 0.34 per cent