Page 6 - Dollar

Forex reserves see sharpest weekly drop on record, hit over four-month low

The reserves fell by $17.8 billion in the week of Nov. 15 - the most since available data starting 1998 - to $657.89 billion, data from the Reserve Bank of India (RBI) showed on Friday

Rupee rises 2 paise to 84.40 against US dollar during early trade

The rupee rose 2 paise to 84.40 against the US dollar in early trade on Tuesday amid a recovery in domestic equity markets and a weaker American currency against major Asian rivals. Forex traders said, however, sustained outflow of foreign funds and an upward movement in crude oil prices put pressure on the local unit and capped its sharp gain. At the interbank foreign exchange, the rupee opened at 84.39 and slipped further to 84.40 against the greenback, trading 2 paise higher from its previous close. On Monday, the rupee recovered from its lowest level of 84.46 to settle 4 paise higher at 84.42 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.09 per cent at 106.10. Brent crude, the global oil benchmark, rose by 0.19 per cent to USD 73.44 per barrel in futures trade. On the domestic equity market front, Sensex was trading 271.42 points, or 0.35 per cent higher, at 77,610.43 points

Dollar gains strength, poised for biggest weekly gain as rate cut hopes dim

A key pillar of support for the dollar has been the expectation that higher inflation under Trump will mean the Federal Reserve has less room to cut interest rates

Rupee falls 2 paise to all-time low of 84.40 against dollar in early trade

The rupee slipped 2 paise to an all-time low of 84.40 against the US dollar in early trade on Tuesday, as persistent foreign fund outflows and strength of the American currency in the overseas market dented investors' sentiments. Forex traders said the rupee is expected to trade between 83.80 and 84.50 in the medium term with the Reserve Bank of India likely limiting any significant downside, aided by its robust foreign exchange reserves. At the interbank foreign exchange, the rupee opened at 84.39 against the greenback, then fell further to an all-time low of 84.40, registering a fall of 2 paise over its previous close. On Monday, the rupee dropped 1 paisa to hit a new lifetime low of 84.38 against the US dollar, registering the fourth straight session of loss. "The Reserve Bank of India plays a key role in stabilizing the rupee, curbing its depreciation. Despite the Emerging Market Currencies Index dropping 6.30 per cent from October 2, the rupee fell only 0.69 per cent, reflect

Rupee falls 1 paisa to all-time low of 84.38 against dollar in early trade

The rupee slipped 1 paisa to an all-time low of 84.38 against the US dollar in early trade on Monday, weighed down by persistent foreign fund outflows and a muted trend in domestic equities. Forex traders said the rupee is likely to remain under pressure unless there is a softening in the dollar index or a slowdown in foreign fund outflows. At the interbank foreign exchange, the rupee opened at an all-time low of 84.38 against the greenback, registering a fall of 1 paisa over its previous close. On Friday, the rupee dropped 5 paise to hit a new lifetime low of 84.37 against the US dollar, registering a decline for the third straight session. Last week, the rupee came under pressure amid the US elections and sustained foreign fund outflows. Following nearly USD 12 billion in equity sell-offs in October, foreign funds have continued their retreat in November, with outflows of around USD 1.6 billion recorded in just the first 10 days. This trend reflects the overvaluation of Indian .

Chinese red tape leaves deals worth billions of dollars on the table

Obtaining regulatory approvals has become more difficult over the past few years, according to people familiar with the matter, who asked not to be named discussing a sensitive topic

Rupee recovers from all-time low, rises 2 paise against US dollar

Forex traders said investors were cautious ahead of the US presidential election. Markets are bracing for potential volatility over the coming days

Asian shares mixed, dollar drifts before megacap earnings, jobs data

Crude ticked up slightly following its plunge on Monday on signs the war in the Middle East would not widen

Yen mired in political uncertainty, dollar awaits key data releases

Elsewhere, the dollar eased a touch, though remained not too far from its recent high ahead of major US data releases

Rupee turns flat at 84.07 against US dollar on foreign fund outflow

The rupee stayed in a straightjacket for yet another week, trading at its near all-time low of 84.07 against the US dollar on Friday amid firm American currency and unprecedented foreign fund outflow. Forex traders said, the indication of some recovery in domestic equity markets prevented the fall in the local unit. At the interbank foreign exchange, the local currency opened at 84.07 against the greenback, trading flat at previous day's closing level in initial deals. On Thursday, the rupee had settled flat at 84.07 against the US dollar. The local currency has been struggling to recover since October 11, when it closed at its lowest level of 84.10 against the dollar. Analysts said the selling rush by foreign investors in pursuit of better gains from the Chinese market has been preventing the rupee's recovery, while higher US treasury yields have triggered the fear of slower interest rate cut by the Federal Reserve. Also, uncertain geopolitical scenario ahead of the US president

Rupee turns flat at 84.07 against US dollar on foreign fund outflow

The rupee stayed flat at 84.07 against the US dollar in early trade on Thursday amid elevated crude oil prices and continuous withdrawal of foreign funds from capital market. However, the local unit found some cushion as the dollar retreated from its higher level while the domestic equity markets indicated a recovery, forex traders said. At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and slipped 1 paisa to trade at previous day's closing level in initial deals. On Wednesday, the rupee had settled with a marginal gain of 1 paisa at 84.07 against the US dollar. The local currency has been struggling to recover since October 11, when it closed at its lowest level of 84.10 against the dollar. Analysts said the selling rush by foreign investors in pursuit of better gains from the Chinese market has been preventing rupee's recovery, while higher US treasury yields has triggered the fear of slower interest rate cut by the Federal Reserve. Amid uncerta

Vedanta Resources raises $300 mn through tap issue on existing bond issue

Vedanta Resources, the parent firm of Mumbai-based mining conglomerate Vedanta Ltd, has raised USD 300 million by exercising the tap option on the existing bond issue. A tap issue is a procedure that allows companies to issue bonds or other short-term debt instruments from past issues. In a Singapore exchange filing Vedanta Resources Finance II PLC (VRF), a wholly-owned subsidiary of Vedanta Resources Ltd, said it has exercised a tap option on its September USD 900 million bond issuance, raising a further USD 300 million at a yield of 9.99 per cent, continuing its liquidity management exercise. The new issuance received final orders of over USD 500 million, an oversubscription from existing and new investors. Sixty-seven per cent of the allottees were from the Asia Pacific (APAC) region, 26 per cent from Europe and the Middle East, and seven per cent from the Offshore United States. The bonds are rated 'CCC+' by S&P Global Ratings. "The net proceeds from the tap option will be ...

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