Page 9 - Dollar

Rupee weakens amid dollar bids related to expiry of currency futures

Asian peers dipped, weighed by concerns that US interest rates could remain high for longer

Rupee sees range-bound trade against US dollar during morning deals

The rupee witnessed range-bound trading against the US dollar in early trade on Monday, amid a negative trend in the domestic equity market. Forex traders said the strength of the American currency in the overseas market and elevated crude oil prices also weighed on the local unit and restricted the upmove. At the interbank foreign exchange market, the local unit opened at 83.52 and gained further to trade at 83.45 against the greenback in initial deals, registering an increase of 12 paise from its previous closing level. On Friday, the rupee hit the lowest level of 83.63 but finally settled at 83.57 against the dollar, registering a gain of 4 paise from its previous close. "Price action on Friday seemed to indicate purposeful intervention by the central bank," IFA Global said in a research note, adding that the rupee is likely to trade in 83.40-83.67 range with sideways price action. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six ...

Rupee recovers 3 paise to 83.58 against US dollar during early trade

The rupee recovered from previous day's steep fall and traded 3 paise higher at 83.58 against the US dollar in early trade on Friday on the back of sustained inflow of foreign capital and strong domestic equity market sentiment. Forex traders said the local unit found support from retreating American currency and easing crude oil prices overseas. At the interbank foreign exchange, the local unit opened at 83.60 and gained further to 83.58 against the greenback, registering a rise of 3 paise from its previous close. On Thursday, the rupee had plunged 17 paise to hit its over two-month low level of 83.61 against the dollar. The domestic currency recorded its previous lowest closing level of 83.61 on April 16 this year. Anand James, Chief Market Strategist, Geojit Financial Services, said the rupee's sharp decline was "partly triggered by significant block deals worth Rs 23,000 crore" a day earlier when Vodafone Idea also sold its 18 per cent stake in Indus Towers for Rs 15,300 crore.

Asian stocks slide, dollar at all time high, yen wobbles ahead of BOJ meet

The dollar was hovering near a one-month high on the back of the hawkish tone from the Fed this week

Rupee rises 1 paisa to 83.43 against US dollar in early trade

The rupee inched up 1 paisa to 83.43 against the US dollar in early trade on Thursday on the back of a weak American currency and positive domestic equity markets. Forex traders said an upward movement in the crude oil prices resisted a sharp rise in the Indian currency even as investors moved cautiously ahead of the RBI's monetary policy decision to be announced on Friday. At the interbank foreign exchange market, the local unit opened at 83.40 and slipped to 83.43 against the greenback, trading 1 paisa higher from its previous close. On Wednesday, the domestic currency settled 7 paise higher at 83.44 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.15 per cent lower at 104.06. Analysts attributed the weakness in the dollar index to a sharp fall in US Treasury yields after the latest data showed private sector job growth in May was slower than estimated, raising expectations of an interest rat

Rupee gains 7 paise to 83.44 against US dollar during early trade

The rupee recovered from the lower level and appreciated 7 paise to 83.44 against the US dollar in early trade on Wednesday, taking cues from domestic equity markets and lower crude oil prices overseas. Forex traders said the rush for value-buying triggered an uptrend in equity markets, boosting the local currency which saw a steep decline on Tuesday after the general elections results showed a less-than-expected majority for the BJP-led NDA. At the interbank foreign exchange market, the local unit opened at 83.50 and recovered some lost ground to trade at 83.44 against the greenback, registering a rise of 7 paise from its previous close. On Tuesday, the domestic currency settled at 83.51 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.09 per cent higher at 104.14. Brent crude futures, the global oil benchmark, slipped 0.03 per cent to USD 77.50 per barrel. On the domestic equity market, the

Rupee depreciates 26 paise to 83.40 against US dollar in early trade

The rupee plunged 26 paise to 83.40 against the US dollar in early trade on Tuesday as initial counting for the Lok Sabha elections indicated a mixed trend. A weak trend in domestic equity markets also dented sentiments in early deals, forex traders said. According to television reports, the BJP-led NDA surged ahead with leads in more than 200 parliamentary seats out of 350 for which trends were available, with the opposition INDIA bloc ahead in 120. Counting of votes for the Lok Sabha elections began on Tuesday morning across states and Union Territories. At the interbank foreign exchange market, the local unit opened weak at 83.25 and lost further ground to trade at 83.40 against the greenback in initial deals, registering a fall of 26 paise from its previous close. On Monday, the rupee closed at 83.14 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 104.02. Brent cr

Rupee appreciates 38 paise to 83.04 against US dollar in early trade

The rupee surged 38 paise to hit its three-month high level of 83.04 against the US dollar in early trade on Monday boosted by a robust sentiment in domestic equity markets on the back of strong macroeconomic data and exit poll results showing a third term for the Prime Minister Narendra Modi-led government. A weak American currency and inflow of foreign capital into domestic equities also supported the local unit, forex traders said. At the interbank foreign exchange market, the local unit opened at 83.09 and gained further to trade at 83.04 against the greenback in initial deals, registering an increase of 38 paise from its previous close. The rupee had breached the 83.00 level on March 18 this year. The local unit clocked the highest single-day rise since April 2023 when it appreciated by 42 paise. On Friday, the rupee declined 13 paise to close at 83.42 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies,

Asian stocks gain, yen stable, dollar drifts as inflation tests await

A downward revision to consumer spending meant the US economy grew more slowly than expected in the first quarter, data showed on Thursday

Rupee appreciates 5 paise to 83.24 against US dollar in early trade

The rupee appreciated 5 paise to 83.24 against the US dollar in early trade on Friday boosted by robust sentiment in domestic equity markets and a downward trend in the crude oil prices overseas. Forex traders said, however, strong American currency and unabated outflow of foreign capital weighed on the local unit. Also, they said market participants are expected to take cues from domestic macroeconomic data to be released later in the day. At the interbank foreign exchange market, the local unit opened at 83.25 and gained further to trade at 83.24 against the greenback in initial deals, registering an increase of 5 paise from its previous closing level. On Thursday, the rupee gained 11 paise to close at 83.29 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.13 per cent higher at 104.79. The latest US GDP data released on Thursday showed the world's largest economy grew at a slower pace of

Dollar steadies before awaited inflation test, yen brushes off Tokyo CPI

Official data showed overnight that the US economy grew at an 1.3 per cent annualised rate from January through March

Dollar steady ahead of inflation data, yen weakens, Fed rate cut unlikely

The dollar was also lifted by rising Treasury yields after a lacklustre debt auction for sales

Bullish sentiment on dollar retreat as US economic print cools: CFTC data

During this period, US monthly inflation data cooled for the first time in six months, while retail sales stagnated in April, boosting odds for Federal Reserve interest rate cuts

Rupee appreciates 4 paise to 83.06 against US dollar in early trade

The rupee appreciated by 4 paise to 83.06 against the US dollar on Monday, tracking a positive trend in domestic equities, wherein benchmark indices scaled new peaks. Forex traders said the weakness of the American currency in the overseas market supported the rupee, while elevated crude oil prices in the international market restricted the upmove. At the interbank foreign exchange market, the local unit opened at 83.08 and gained further ground to trade at 83.06 against the greenback, registering a gain of 4 paise from its previous closing level. On Friday, the rupee rallied for the fourth consecutive trading session and settled with a sharp gain of 19 paise at 83.10 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.70, lower by 0.02 per cent. Brent crude futures, the global oil benchmark, advanced 0.19 per cent to USD 82.28 per barrel. On the domestic macroeconomic front, India's fore

Asian stocks fall, dollar advances amid wavering rate cut expectations

Data on Thursday showed US jobless claims dropped while S&P Global's Flash PMI survey showed business activity expanded

Asian stocks edge up on Nvidia hopes, NZ dollar jumps as bond yields spike

New Zealand's central bank offered a sobering assessment of its inflation problems, warning that rates would have to be higher

Yen higher, dollar squeezed as US inflation eased to its slowest pace

Core US inflation slowed to an annualised 3.6 per cent in April, Wednesday's data showed

Asian stocks rides Wall Street rally, dollar sags on US inflation relief

Gold marched back toward record levels, and crude oil added to gains after rebounding strongly

Rupee appreciates 4 paise to 83.47 against US dollar in early trade

The rupee was trading in a narrow range and appreciated 4 paise to 83.47 against the US dollar in early trade on Wednesday, tracking a positive trend in domestic equities. However, sustained foreign fund outflows weighed on the local unit and restricted the up move. Forex traders said with foreign investors buying US dollars and the Reserve Bank of India (RBI) selling the greenback, the USD/INR pair is expected to remain range-bound with a bit of a weakness bias. At the interbank foreign exchange market the local unit moved in a narrow range. It opened at 83.49 against the American currency and touched 83.47 in initial trade, registering a rise of 4 paise from its previous close. On Tuesday, the rupee closed at 83.51 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 104.93, lower by 0.07 per cent. Brent crude futures, the global oil benchmark, rose 0.69 per cent to USD 82.95 per barrel. Des

Dollar trades low ahead of crucial inflation report; yen under pressure

The yuan slid to a two-week low versus the dollar after US President Joe Biden unveiled steep tariff increases on an array of Chinese imports