Page 3 - Dollar Dominance

Rupee registers marginal decline to 83.01 against US dollar in early trade

The rupee declined marginally to 83.01 against the US dollar in early trade on Tuesday amid a muted trend in domestic equities. A stronger American currency and elevated crude oil prices also dented sentiments. At the interbank foreign exchange, the rupee opened at 83.00 against the dollar, and touched an early high of 82.98 and a low of 83.01 in initial trade. On Monday, the rupee appreciated 7 paise to close at 83.00 against the US dollar. Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, said the rupee is expected to remain range bound with a narrow range of 82.95 to 83.05. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent higher at 104.23. Brent crude futures, the global oil benchmark, rose 0.09 per cent to USD 82.07 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 67.81 points or 0.10 per cent lower at 71,004.68 points. The broader NS

Dollar eases as market shrugs off rise in US monthly consumer prices

The dollar index fell 0.07% to 104.04, while the euro was up 0.08% to $1.0785

Rupee appreciates 9 paise to 82.95 against US dollar ahead of Budget

The rupee appreciated 9 paise to 82.95 against the US dollar in early trade on Thursday as market participants remained cautious ahead of the interim Budget. Forex traders said the rupee was trading in a narrow range as the strength of the American currency in the overseas market and a muted trend in domestic equities weighed on investor sentiments. At the interbank foreign exchange, the rupee opened at 83.02 against the dollar and then touched a high of 82.95, registering a gain of 9 paise over its previous close. In initial trade, the rupee also touched a low of 83.03 against the American currency. On Wednesday, the rupee appreciated 6 paise to 83.04 against the US dollar. Forex traders said rupee traded in a narrow range and market participants remained cautious ahead of the interim Budget. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.24 per cent higher at 103.52. Brent crude futures, the global oil benchmark, fell

Rupee depreciates 1 paisa to 83.14 against US dollar in early trade

The rupee fell 1 paisa to 83.14 against the US dollar in early trade on Friday amid heavy selling of equities by Foreign Institutional Investors (FIIs). Forex traders said positive cues from domestic equity markets and lower level of dollar provided support to the Indian currency. At the interbank foreign exchange, the domestic currency opened at 83.15, then slipped to 83.16 before trading at 83.14 against the greenback in morning deals, down 1 paisa from its previous close. On Thursday, the rupee settled 1 paisa higher at 83.13 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.19 per cent lower at 103.12 on Friday. Analysts said the dollar index retreated after the US macroeconomic data reflected steady growth in the country, trimming financial markets' expectations of reducing interest rate by the Federal Reserve. Brent crude futures, the global oil benchmark, declined 0.27 per cent to USD

Dollar up 0.47%, hits 1-month high amid tempered expectations of rate cut

Comments from European Central Bank officials downplaying the idea of early rate cuts overshadowed the outlook for borrowing costs globally

Rupee depreciates 11 paise to 82.97 against US dollar in early trade

The rupee reversed its nine-day upward movement and depreciated 11 paise to 82.97 against the US dollar in early trade on Tuesday, tracking a strong American currency against major overseas rivals and subdued equity market sentiment. Some inflow of foreign funds supported the Indian currency which was weighed down due to volatile crude oil prices, forex traders said. At the interbank foreign exchange, the domestic currency opened weak at 82.95 and slipped further to 82.97 against the greenback in initial trade, registering a loss of 11 paise from its previous close. On Monday, the rupee settled with a gain of 9 paise at 82.86 against the US dollar. This was ninth consecutive day of gain for the Indian currency. In the last nine trading sessions, the local unit added 46 paise since the level of 83.32 against the dollar recorded on January 2. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.31 per cent higher at 102

Driven by market rally, Rupee rises 6 paise to reach 82.89 against dollar

The rupee strengthened for the ninth consecutive session to settle with a gain of 6 paise to 82.89 (provisional) against the US dollar on Monday, driven by a rally in the domestic equity markets. At the interbank foreign exchange, the local currency opened at 82.82 and traded between 82.77 and 82.91 against the greenback during intra-day deals. The unit finally settled at 82.89 (provisional) against the dollar, registering a gain of 6 paise over its previous close amid a bullish trend in domestic equities, wherein benchmark indices climbed to lifetime highs. On Friday, the rupee settled with a gain of 6 paise to 82.95 against the US dollar. In the last nine trading sessions, the local unit added 48 paise since the level of 83.32 against the dollar recorded on January 2. Meanwhile, WPI rose 0.73 per cent year-on-year in December 2023 against 0.26 per cent in the previous month, but lower than the forecast of 0.9 per cent. According to official data, the wholesale price index ...

Rupee appreciates 18 paise to 82.77 against US dollar in early trade

The rupee appreciated 18 paise to 82.77 against the US dollar in early trade on Monday, supported by bullish domestic equities wherein domestic indices touched record highs. At the interbank foreign exchange, the domestic currency opened at 82.82 and touched 82.77 against the greenback in initial trade, registering a rise of 18 paise from its previous close. On Friday, the rupee strengthened for the eighth consecutive session to settle with a gain of 6 paise to 82.95 against the US dollar. The inflows are expected to continue and will the keep the pair of USDINR on the downside as a major support at 82.80 comes up. "Keep a close watch on what the Reserve Bank of India does during the day," Anil Kumar Bhansali, the Head of Treasury and Executive Director Finrex Treasury Advisors LLP, said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 102.35. Global oil benchmark Brent crude was at USD 78.54 per barrel. "Monday's US

Rupee dwindles 4 paise, reaches 83.17 against US dollar in early trade

The rupee depreciated 4 paise to 83.17 against the US dollar in early trade on Wednesday amid selling of equities by foreign investors and an upward movement in crude oil prices. Subdued sentiment in the domestic equity markets also weighed on the Indian currency, forex traders said. At the interbank foreign exchange, the domestic currency opened at 83.13 and slipped to 83.17 against the greenback, down 4 paise from its previous close. The domestic currency settled 1 paisa higher at 83.13 on Tuesday. The range-bound movement in the Indian currency was attributed to investors' concern over upcoming inflation numbers of India as well as the US to be released this week. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.02 per cent lower at 102.26 on Wednesday. Brent crude futures, the global oil benchmark, rose 0.23 per cent to USD 77.77 per barrel. In the domestic equity market, 30-share benchmark Sensex was tradin

Rupee rises 6 paise to 83.08 against US dollar in third straight session

The rupee stayed on upward track for the third straight session and rose 6 paise to 83.08 against the US dollar in early trade on Tuesday amid a weak american currency and favourable crude oil prices. A positive cue from domestic equity markets and sustained buying by foreign institutional investors also supported the Indian currency, forex traders said. At the interbank foreign exchange, the domestic currency opened strong at 83.07 and rose to the level of 83.04 against dollar in initial deals. The local unit then traded at 83.08 against the greenback, registering a rise of 6 paise from its previous close. The domestic currency settled 1 paisa higher at 83.14 on Monday, a day after gaining 9 paise on Friday. Analysts said investors will keep a close watch on domestic inflation numbers as well as the data from the US to be released later this week. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.07 per cent lower

Dollar edges lower as investors wait on clues over Fed rate-cut prospects

The greenback is on track to post its worst performance since 2020 against a basket of currencies as anticipation of Fed rate cuts dents the appeal of the U.S. currency relative to peers

Dollar's share in global central bank reserves declines, IMF data shows

The shares of the Chinese yuan, the British pound, the Australian and Canadian dollars and the Swiss franc were little changed

Dollar touches 2-week high, euro weaker as market bets on rate cuts

raders are now betting that there is around an 85% chance that the ECB cuts interest rates at the March meeting, with almost 150 basis points worth of cuts priced by the end of next year

India's forex reserves rise to near three-month high of $597.94 billion

The reserves rose by $2.5 billion in the reporting week, after rising $5.1 billion in the week before

Reserve Bank of India net sells $1.5 billion foreign currency in September

In the second quarter of the current financial year, the RBI purchased a net total of $1.9 billion of foreign currency, against $33.7 billion in the second quarter of the previous financial year

Dollar steady ahead of Fed Chair remarks, underpinned by higher US yields

"Other majors have been more stable, even as yields continue to move higher. Maybe there is some caution ahead of Powell later in the day"

Dollar gains against euro as Fed, Middle East conflict stay in focus

The dollar is also benefiting from safe haven demand on concerns over the conflict in the Middle East

Dollar edges higher after inflation data reinforces expectations on Fed

"Traders didn't really believe in the hot PPI for September until CPI yesterday reinforced it," Helen Given, FX Trader at Monex USA, said

Dollar gains against euro in flight to safety on Israel-Palestinian clashes

The Japanese yen - another traditional safe-haven currency - edged 0.28% higher to 148.89 per dollar

Dollar loiters at two-month peak ahead of fed chair Jerome Powell's speech

Powell is likely to stress that policy outcome remains highly dependent on economic data