Page 11 - Dollar

Flows into NRI deposits up 84.4% to $11.8 bn in April 2023-February 2024

Outstanding NRI deposits up $2 billion in February over January

Rupee rises 9 paise to 83.30 against US dollar post RBI policy decision

The rupee appreciated 9 paise to close at 83.30 (provisional) against the US dollar as the Reserve Bank of India on Friday kept the benchmark interest rate unchanged at 6.5 per cent for the seventh time in a row. However, a strong US dollar against major rivals overseas and elevated crude oil prices capped sharp gains for the local unit, forex traders said. At the interbank foreign exchange market, the local unit opened at 83.44 against the greenback. The unit hit an intra-day high of 83.26 and a low of 83.45. The local unit finally settled at 83.30 (provisional) against the dollar, 9 paise higher from its previous close. On Thursday, the rupee recovered 14 paise to close at 83.39 against the US dollar. The rupee gained as the RBI's monetary policy remained the focus. The central bank kept CPI and GDP projections for FY25 unchanged at 4.5 per cent and 7 per cent, respectively, said Anuj Choudhary Research Analyst, Sharekhan by BNP Paribas. "After a detailed assessment of the evol

Dollar is more than a currency

Despite predictions of a tough year, the greenback is overpowering challengers. There's more to this supremacy than mere interest rates

Flows into NRI deposits up 72.7% in April-December 2023: RBI Bulletin

Non-resident external (NRE) deposits were at $97.69 billion in December 2023, up from $96.79 billion in November and $94.46 billion at the end of December 2022

Rupee settles flat at 83 against US dollar, touches intraday high of 82.98

The rupee settled flat at 83 against the US dollar on Tuesday, as the support from a rally in domestic equities was negated by a strong greenback overseas and rising crude oil prices. At the interbank foreign exchange, the rupee opened at 83 against the dollar, and touched an intraday high of 82.98 and a low of 83.02. The rupee finally settled at 83.00 (provisional), unchanged from its previous close. On Monday, the rupee appreciated 7 paise to close at 83 against the US dollar. Meanwhile, India's industrial production growth slowed to 3.8 per cent in December 2023, mainly due to poor performance of mining and power generation segments, according to official data released on Monday. Retail inflation declined to a three-month low of 5.1 per cent in January, mainly due to subdued prices of vegetables, fruits and other food items, according to government data released on Monday. "We expect the rupee to trade with a slight positive bias on positive Asian markets and fresh foreign inf

Dollar hits two-month high as traders regain bets for aggressive rate cuts

The Fed repricing has followed Friday's blockbuster U.S. jobs report that far exceeded market expectations and sent U.S. bond yields soaring, boosting the country's currency

Global currencies stabilise amid Central bank decision uncertainty

Japan's yen was one of the bigger movers, heading away from Friday's 148.80 per dollar, its weakest in a month, to as firm as 147.74, as the Bank of Japan started its two-day policy meeting

Dollar flat after mixed US data, on pace for best weekly gain since July

For the week, the dollar gained 1.1%, on pace for its best weekly rise since mid-July

Dollar dips across board as traders stay fixed on US rate cuts next year

The dollar index, which measures the U.S. currency against six rivals, fell to a fresh five-month low of 100.61. The index is on course for a 2.7% decline this year

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

Foreign exchange reserves rise by $9 bn in week to 20-month high at $616 bn

Gold reserves rose by $446 million in the previous week, whereas Special Drawing Rights (SDRs) increased by $135 million

Yen clings on to gains ahead of key BOJ decision; dollar slips (Updated)

The recent burst of risk appetite has given the Australian and New Zealand dollars in particular a leg up, with both nudging towards five-month highs on Monday.

Dollar hits 4 month low as Fed signals rate cuts, NOK stronger after hike

Fed Chair Jerome Powell said at Wednesday's Federal Open Market Committee (FOMC) meeting that the historic tightening of monetary policy is likely over

Rupee falls 4 paise against US dollar due to muted domestic trend

Forex traders said a muted trend in domestic equities also weighed on the local unit, while a correction in oil prices provided support to the currency

Samvat 2080: Start of a new year signals better prospects for bonds, rupee

Foreign inflows expected after index inclusion; rate cuts on the horizon

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

With dollar sales, RBI prevents rupee from hitting all time low: Report

Dealers estimate that state-run banks sold approximately $500 million on behalf of the RBI

Rupee weakens 17 paisa against the US dollar, settles at Rs 83.21

The rupee settled at Rs 83.21 per US dollar on Monday, against Rs 83.04 a dollar on Wednesday

Despite choppy Q2, rupee shines bright in Asia in first half of FY24

After a steady first quarter, the currency came under pressure in the second quarter following a rise in US yield and rising crude oil prices towards the end of September

Dollar pulls back from highest level since Nov, heat still on yen, euro

The dollar index, which tracks the unit against six other majors, was down 0.3% on the day at 106.3, though it was still on track for an 11th straight week of gains