Page 6 - Dollar

Rupee gains 1 paisa to 84.06 against US dollar during early trade

The rupee showed a recovery from its lower level and gained marginally by 1 paisa to 84.06 against the US dollar in early trade on Monday, tracking positive cues from domestic equity markets and a soft American currency. However, sustained outflow of foreign funds and an upward momentum in the crude oil prices weighed on the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and stayed almost flat in early deals, trading 1 paisa higher from its previous close. On Friday, the rupee slipped 1 paisa to close at 84.07 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down by 0.05 per cent to 103.25. Brent crude, the international benchmark, advanced 0.33 per cent to USD 73.30 per barrel in futures trade. On the domestic equity market front, Sensex surged 457.90 points, or 0.56 per cent, to 81,682.65 points. The Nifty also climbed 97.70 points

Chinese GDP gets little cheer, while dollar rises for straight third week

China's economy expanded 4.6 per cent in the third quarter from a year earlier

Rupee pinned near all-time low of 84.07 as regional currencies decline

The rupee is down by about 0.3 per cent this month, but has fared better than its regional peers

Rupee drops to lifetime low of 84.07 on high dollar demand by foreign banks

The rupee has remained under pressure this month due to sustained outflows from local equities

Rupee rises 1 paisa to 83.95 against US dollar during early trade

The rupee rose 1 paisa to 83.95 against the US dollar in early trade on Thursday amid a firm trend in domestic equity markets and a weaker greenback against major overseas rivals. However, an increase in global oil prices and heavy foreign fund outflows capped further recovery in the domestic currency, according to forex experts. At the interbank foreign exchange, the rupee opened at 83.95, marginally up by 1 paisa against the US dollar, and traded almost flat in early deals. The local unit had settled at 83.96 against the greenback on Wednesday. The Reserve Bank of India's (RBI) decision to keep policy rates unchanged also played a part in the rupee's range-bound movement. The RBI on Wednesday kept the policy rate unchanged for the tenth time in a row but shifted its stance from "withdrawal of accommodation" to "neutral" that may lead to a cut in the forthcoming policies. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was d

Rupee rises 6 paise to 83.94 against US dollar during early trade

The rupee rose 6 paise to 83.94 against the US dollar in early trade on Tuesday supported by a weaker greenback and lower crude oil price. However, volatility in the domestic equity markets and FII outflows capped sharp gains in the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 83.97 against the US dollar and rose to 83.92 before slipping marginally to 83.94, higher by 6 paise from its previous close. The domestic unit had settled at 84.00 on Monday. The reconstituted rate-setting panel of the Reserve Bank of India (RBI) on Monday started deliberations on the next bi-monthly monetary policy. The decision of the panel will be announced on Wednesday, which could determine the movement in the rupee over the next few days. In the current context, experts feel that the RBI may not follow the US Federal Reserve, which lowered the benchmark rates by 50 basis points, and the central banks of some developed nations, which have reduced the interest

BofA expects India's forex reserves to reach $745 billion in March 2026

RBI Governor Shaktikanta Das has repeatedly stressed the need to build a forex buffer to act as a shield during periods of market volatility

Rupee plunges 11 paise to 83.93 against US dollar during early trade

Rupee depreciated 11 paise to 83.93 against the US dollar in early trade on Thursday due to rising crude oil prices and negative sentiment in the domestic equity markets amid concerns over escalating tension in the Middle East. Unabated outflow of foreign funds from capital markets and a strengthening American currency also weighed on the Indian currency, forex traders said. At the interbank foreign exchange, the local unit opened at 83.91 and lost further ground to touch 83.93 against the greenback, trading 11 paise lower from its previous session's closing level. On Tuesday, the rupee settled 3 paise lower at 83.82 against the American currency. The forex markets were closed on Wednesday on account of Mahatma Gandhi Jayanti. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.10 per cent to 101.53. Brent crude, the international benchmark, climbed 1.11 per cent to 74.72 in futures trade. Experts attributed the spike in c

Rupee falls 6 paise to 83.75 against US dollar during early trade

Rupee depreciated 6 paise to 83.75 against the US dollar in early trade on Monday amid negative equity market sentiment and outflow of foreign funds. Forex traders said an upward movement in crude oil prices and a strong greenback against major overseas rivals due to its increased demand from importers at the month end put pressure on the local unit. Also, they said, investors showed muted participation awaiting cues from domestic manufacturing PMI (Purchasing Manager's Index) numbers to be released this week. At the interbank foreign exchange, the local unit opened at 83.72 and slipped further to 83.75 against the American currency, registering a loss of 6 paise from its previous close. On Friday, the rupee fell 3 paise to settle at 83.69 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.07 per cent to 100.17. According to analysts, the dollar strengthened after the US core personal consum

Rupee steady against US dollar in CY24, weakens vs euro and pound

Experts say RBI's action in dollar market may had an impact

Rupee rises 2 paise to 83.64 against US dollar during early trade

Rupee rises 2 paise to 83.64 against the US dollar in early trade on Friday amid softening crude oil prices and inflow of foreign funds. The Indian currency was, however, weighed down by a subdued domestic equity market and a stronger greenback against major rivals overseas amid increased month-end dollar demand from importers, forex traders said. At the interbank foreign exchange, the local unit opened at 83.64 and touched the low of 83.69 before trading again at 83.64 against the American currency, registering a gain of 2 paise from its previous close. On Thursday, the rupee declined 8 paise to settle at 83.66 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was up 0.15 per cent to 100.39. Analysts said the market participants were awaiting further cues from the personal consumption expenditure data to be released in the US on Friday. Brent crude, the international benchmark, fell 0.36 per cent

Dollar drifts, risk-sensitive currencies lifted by China optimism

Data on Thursday suggested the US labour market remained fairly healthy

Rupee declines 11 paise to 83.69 against US dollar during early trade

Rupee declined 11 paise to 83.69 against the US dollar in early trade on Thursday amid a strengthening dollar against overseas currencies and an increase in crude oil prices. FIIs turning net sellers on Wednesday put further pressure on the domestic currency against the greenback, according to forex experts. At the interbank foreign exchange, the local unit opened at 83.66, down 8 paise from its previous close of 83.58 against the American currency. It slipped further to 83.69, 11 paise lower from Wednesday's closing rate. "The USDINR is expected to find strong support at 83.50, with potential to rebound toward 83.75-83.80, offering another selling opportunity for those who missed out at similar levels before," CR Forex Advisors MD Amit Pabari said. On the domestic equity markets front, the Sensex climbed 146.27 points to reach its all-time high of 85,316.14, while the Nifty, too, scaled to a record high of 26,037.25 points, up 33.10 points. The dollar index, which gauges the ...

Asian stocks and dollar gain as Fed Reserve charts 'soft landing' path

Futures rose 0.6 per cent in the Asia day and Nasdaq futures were up 0.9 per cent

Dollar cedes overnight gains, Asia stocks mixed as Fed looms large

MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.05per cent

Asian shares tentative, dollar squashed by expectations of Fed rate cuts

Extended holidays in China and South Korea made for thin trading conditions

India's forex reserves rise $5.25 billion to new peak of $689.24 billion

India's forex reserves jumped USD 5.248 billion to a new all-time high of USD 689.235 billion for the week ended September 6, the Reserve Bank of India said on Friday. The overall kitty had jumped by USD 2.299 billion to a record USD 683.987 billion for the previous reporting week. For the week ended September 6, foreign currency assets, a major component of the reserves, increased by USD 5.107 billion to USD 604.144 billion, the data showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves increased by USD 129 million to USD 61.988 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 4 million to USD 18.472 billion, the apex bank said. India's reserve position with the IMF was up by USD 9 million to USD 4.631 billion in the reporting week, the apex bank data showed.

Rupee rises 5 paise to 83.91 against US dollar during early trade

The rupee appreciated by 5 paise to 83.91 against the US dollar in early trade on Friday supported by weakening of the American currency in the overseas market and significant foreign fund inflows. Forex traders said the rupee continues to trade within a tight range, as the Reserve Bank of India (RBI) is maintaining a firm grip on the domestic currency. At the interbank foreign exchange market, the local unit opened at 83.92, then inched further to touch 83.91, registering a rise of 5 paise from its previous close. On Thursday, the local unit settled 3 paise higher at 83.96 against the US dollar. "The Indian rupee appears to be moving in its own orbit, refusing to appreciate and continuing to trade within a tight range, as the RBI maintains a firm grip on the domestic currency. In the near-term, the rupee is expected to trade within a narrow band of 83.80 to 84.05, while the medium-term outlook slightly broadens the range to 83.70 to 84.05," CR Forex Advisors MD Amit Pabari ...

Dollar recovers some losses as traders scale back bets of big Fed rate cut

Focus turned to Wednesday's US inflation report as the next main indicator that could alter market pricing for the Fed's September meeting

Asian markets dip after Wall Street had its worst week in nearly 18 months

Asian stocks fell Monday after another rout hit Wall Street on Friday, as a highly anticipated update on the US job market came in weak enough to add to worries about the economy. The Nikkei 225 index was hovering around its lowest level in almost a month during morning trading, and it slipped 0.5 per cent to close at 36,215.75. Japan's gross domestic product grew by an annualised 2.9 per cent in the second quarter, according to revised data from the Cabinet Office released on Monday. This was below expectations. Any broader risk aversion may have an amplified effect on Japanese equities, with safe-haven flows potentially supporting the yen, which is looked upon as negative for the country's exporters, Yeap Jun Rong, market strategist at IG, said in a commentary. The US dollar was trading at less than 143 Japanese yen in Monday trading. Stocks in Chinese markets also racked up losses after worse-than-expected inflation data disappointed investors. Data from the National Bureau of