Page 7 - Dollar

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

Rupee rises 4 paise to 83.97 against US dollar during early trade

The rupee appreciated by 4 paise to 83.97 against US dollar in early trade on Thursday supported by weakening of the American currency in the overseas market and a positive trend in domestic equities. Forex traders said an overall drop in crude oil prices and foreign fund inflows aided investor sentiments. At the interbank foreign exchange market, the local unit opened at 83.98, then inched further to touch 83.97, registering a rise of 4 paise from its previous close. On Wednesday, the rupee breached the crucial 84-mark for the second time within a month and settled 3 paise lower at 84.01 against the American currency. "The Indian rupee continues to remain weak despite Asian currencies rising as inflows get absorbed by the Reserve Bank, while oil companies and FPIs and importers continue to buy US dollars from market keeping the currency on the lower side despite gains seen by its Asian and emerging market counterparts," said Anil Kumar Bhansali, Head of Treasury and Executive ...

Forex reserves rise by $7 billion to hit record high of $681.69 billion

India's forex reserves jumped by USD 7.023 billion to touch a new high of USD 681.688 billion in the week ended August 23, the RBI said on Friday. The overall reserves had jumped by USD 4.546 billion to USD 674.664 billion in the previous reporting week. The previous all-time high for the overall reserves was recorded at USD 674.919 billion as on August 2. For the week ended August 23, foreign currency assets, a major component of the reserves, increased by USD 5.983 billion to USD 597.552 billion, the data released on Friday 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 893 million to USD 60.997 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 118 million to USD 18.459 billion, the apex bank said. India's reserve position with the IMF was up by USD 30 million

Rupee rises 7 paise to 83.82 against US dollar during early trade

Rupee appreciated 7 paise to 83.82 against the US dollar in morning trade on Friday, supported by significant foreign fund inflows and a positive trend in domestic equities. Forex traders said a rise in global risk sentiments supported the rupee, while recovery in the US dollar and month-end dollar demand from importers and oil marketing companies (OMCs) weighed on investor sentiments. At the interbank foreign exchange market, the local unit opened at 83.83, then gained ground to touch 83.82, registering a rise of 7 paise from its previous close. On Thursday, the rupee appreciated 8 paise to close at 83.89 against the American currency. According to forex traders, MSCI rebalancing flows could take the rupee higher. "Some appreciation in the rupee appears likely, with anticipated MSCI inflows of around USD 3 billion. The rupee is likely to trade within a range of 83.75 to 83.90, while in the medium-term, a range of 83.60 to 84.05 is anticipated, with a bias towards the upside," CR

Rupee falls 2 paise to 83.95 against US dollar in early trade today

Rupee depreciated 2 paise to 83.95 against the US dollar in morning trade on Wednesday, weighed down by a muted trend in domestic equities. Forex traders said from a macroeconomic standpoint, the rupee's downside appears well-contained, with the 84-level acting as a crucial support, likely bolstered by expected RBI intervention to prevent further depreciation. At the interbank foreign exchange market, the local unit opened at 83.94, then lost further ground and touched 83.95, registering a loss of 2 paise from its previous close. On Tuesday, the rupee depreciated by 6 paise to close at 83.93 against the American currency. According to CR Forex Advisors MD Amit Pabari the Reserve Bank's interventions not only seem to limit the rupee's downside but also cap its appreciation. "This was evident earlier in the week when, despite significant dollar weakness, the rupee remained steady, unlike other emerging market currencies that experienced notable gains," Pabari said. The rupee is exp

Rupee appreciates 10 paise to 83.80 against US dollar in early trade

Rupee appreciated 10 paise to 83.80 against the US dollar in morning trade on Monday, supported by the weakening of the American currency in the overseas market and foreign fund inflows. Forex traders said the dollar index lost significant ground and is hovering around the 100.60 level following US Fed Chair Jerome Powell's recent speech at the Jackson Hole meeting, where he said that time has come for loosening of policy, indicating possible US rate cuts in September. At the interbank foreign exchange market, the local unit opened at 83.83 and then gained ground and touched 83.80, registering a rise of 10 paise from its previous close. On Friday, the rupee traded in a narrow range and settled higher by 3 paise at 83.90 against the American currency. Rupee opened on a positive note and was hovering around 83.80 this morning as the US dollar has lost against most currencies, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. "It is expec

Fed Reserve's dovish shift mixed blessing for BOJ interest rate hike plan

The remarks came hours after BOJ Governor Kazuo Ueda told parliament that while the BOJ will keep an eye out on the fallout from unstable markets

Indian bonds, rupee to gain after Powell greenlights interest rate cuts

Most Asian currencies also gained, aided by broad-based weakness in the greenback, as market participants positioned for the start of interest rate cuts in the United States

Dollar hits seven-month low on rate cut bets, Powell speech in focus

Investors largely expect Powell to acknowledge the case for a rate cut and will parse his words for cues