Page 4 - Forex Market

Rupee gains 11 paise to 82.77 against US dollar in Thursday's early trade

The rupee gained 11 paise to 82.77 against the US dollar in early trade on Thursday as the American currency retreated from its elevated levels. At the interbank foreign exchange, the domestic unit opened at 82.78 against the dollar and marginally rose to 82.77, registering a rise of 11 paise over its previous close. On Wednesday, the rupee closed at 82.88 against the US currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.23 per cent to 104.34. Brent crude futures, the global oil benchmark, advanced 0.48 per cent to USD 80.99 per barrel. "US Federal Reserve officials in their most recent Federal Open Market Committee (FOMC) meeting on February 1 indicated that there are signs inflation is coming down but not enough to counter the need for more interest rate hikes," Mitul Shah, Head of Research Institutional Desk at Reliance Securities, said. In the domestic equity market, the 30-share BSE Sensex fell 166.23 poin

Rupee falls 4 paise to 82.83 against US dollar on muted domestic equities

The rupee depreciated 4 paise to 82.83 against the US dollar in early trade on Wednesday, weighed down by a muted trend in domestic equities. However, fresh foreign fund inflows and a weak American currency against major rivals overseas capped the losses in the domestic unit, forex traders said. At the interbank foreign exchange, the domestic unit opened flat at 82.79 against the dollar. Later, it lost some ground to quote at 82.83, registering a decline of 4 paise over its last close. In the previous session on Tuesday, the rupee settled at 82.79 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.09 per cent to 104.01. Brent crude futures, the global oil benchmark, rose slightly by 0.06 per cent to USD 83.10 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 279.41 points or 0.46 per cent lower at 60,393.31. The broader NSE Nifty fell 86.55 points or 0.49 per cent to ...

Rupee up 21 paise to 82.62 against dollar amid firm trend in equity mkt

The rupee gained 21 paise to 82.62 against the US dollar in early trade on Thursday supported by broad dollar weakness and a firm trend in domestic equities. Forex traders said upbeat domestic trade deficit data and foreign fund inflows supported investor sentiments. At the interbank foreign exchange, the domestic unit opened at 82.72 against the dollar, then gained ground and touched 82.62, registering a rise of 21 paise over its previous close. On Wednesday, the rupee settled at 82.83 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.25 per cent to 103.66. Brent crude futures, the global oil benchmark, rose 0.50 per cent to USD 85.81 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 391.48 points or 0.64 per cent higher at 61,666.57. The broader NSE Nifty advanced 113.90 points or 0.63 per cent to 18,129.75. India's trade deficit in January fell to a 12-month low of

Rupee gains 13 paise to 82.57 against dollar as US currency retreats

The rupee gained 13 paise to 82.57 against the US dollar in early trade on Tuesday as the American currency retreated from its elevated levels. Forex traders said a positive trend in domestic equities and fresh foreign fund inflows also supported investor sentiments. At the interbank foreign exchange, the domestic unit opened at 82.59 against the dollar, then gained ground and touched 82.57, registering a rise of 13 paise over its previous close. In initial trade, the rupee also touched a low of 82.61 against the American currency. On Monday, the rupee fell by 12 paise to close at 82.70 against the US currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.16 per cent to 103.18. Brent crude futures, the global oil benchmark, declined 0.70 per cent to USD 86 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 315.74 points or 0.52 per cent higher at 60,747.58. The broader NSE Nifty advanced

Rupee falls 12 paise to 82.63 against US dollar on strong greenback

The rupee depreciated 12 paise to 82.63 against the US dollar in early trade on Friday as a lacklustre trend in domestic equities and a strong greenback in the overseas markets dented investor sentiments. Besides, sustained foreign fund outflows and elevated crude oil prices in the international market weighed on the domestic unit, forex traders said. At the interbank foreign exchange, the domestic unit opened weak at 82.61 against the dollar, then fell further in early deals to 82.63, registering a decline of 12 paise over its last close. On Thursday, the rupee appreciated 3 paise to close at 82.51 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.15 per cent to 103.38. Brent crude futures, the global oil benchmark, declined 0.19 per cent to USD 84.34 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 183.51 points or 0.30 per cent lower at 60,622.71 points. The broader

Rupee gains 10 paise to 82.66 against US dollar on weaker greenback

The rupee appreciated 10 paise to 82.66 against the US dollar in early trade on Tuesday on the back of a positive trend in domestic equities and relatively weaker greenback. However, foreign capital outflows restricted the gain in the domestic unit, forex traders said. At the interbank foreign exchange, the domestic unit opened strong at 82.68 against the dollar, then gained further ground to 82.66, a rise of 10 paise over its last close. In early deals, it was moving in a tight range of 82.69-82.65. On Monday, the rupee fell 68 paise to close at a one-month low of 82.76 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.15 per cent to 103.46. Brent crude futures, the global oil benchmark, advanced 0.98 per cent to USD 81.78 per barrel. This week, the key trigger for the markets is likely to be the decision of the RBI's Monetary Policy Committee on interest rate that will be announced on ...

Rupee falls 10 paise to 81.69 against US dollar amid FPI outflows

The rupee depreciated 10 paise to 81.69 against the US dollar in early trade on Monday, weighed down by significant foreign fund outflows. At the interbank foreign exchange, the domestic unit opened weak at 81.69 against the dollar, registering a decline of 10 paise over its last close. In the previous session on Friday, the rupee settled at 81.59 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.01 per cent to 101.92. Brent crude futures, the global oil benchmark, declined 0.17 per cent to USD 86.51 per barrel. The focus on the Union Budget and the US Federal Reserve's policy decision will dictate the course for the local unit on Monday, traders said. "Asian and emerging market peers have started with gains and could aid investor sentiments. However, demand from importers and the Reserve Bank of India's presence could cap gains," said Sriram Iyer, Senior Research Analyst at Reliance ...

State Bank of Pakistan's foreign exchange reserves fall by $923 mn

The State Bank of Pakistan (SBP) said its foreign exchange reserves had decreased by $923 million last week

RBI bought net $4.36 billion in spot forex market in November, shows data

The RBI said it purchased $22.28 billion and sold $17.92 billion in the spot market

Rupee weakens amid thin volumes on FII outflow, greenback rebound

Trade volumes were thin as US markets were closed for Martin Luther King Day

Rupee registers biggest weekly gain against US dollar in two months

Hope of reduced Fed rate hikes, lack of RBI dollar buys drive rupee gains

Rupee continues winning streak, gains 1.5% in 3 days on foreign flows

Reduced dollar demand from oil firms, lack of RBI dollar buys prop up rupee

Rupee gains nearly 100 paise in two days to below 82 against dollar

Overseas flows, lack of RBI dollar buys behind best rupee showing in 2 months

Forex reserves up by $44 mn to $562.85 bn on rise in RBI gold reserves

Foreign currency assets declined by $302 mn to $498.19 bn in week ended Dec 30

India, Bangladesh discuss trade settlement in rupee, free trade agreement

India-Bangladesh: Other issues that were discussed were the removal of non-tariff barriers and the re-opening of border haats

Fixed denominations vs token system: Why digital cash needs to feel real

If the payment market is cornered by a few powerful private-sector platforms, they may impose hidden charges and fees

ESMA deadlock: European regulator's interference unfortunate, says RBI DG

"Potential disruption to the forex markets can be serious"

Retail e-rupee pilot begins tomorrow: Here's what you can expect from it

The transactions using the retail CBDC can be both person-to-person as well as person-to-merchant, and payments can be made using QR codes shown at merchant locations

Rupee advances 16 paise to 81.54 against US dollar in early trade

The rupee appreciated 16 paise to 81.54 against the US dollar in early trade on Friday on broad dollar weakness and in line with its Asian peers. At the interbank foreign exchange, the domestic unit opened at 81.69 against the dollar, then gained ground to touch 81.54, registering a rise of 16 paise over its previous close. On Thursday, the rupee appreciated by 23 paise to close at 81.70 against the US dollar. Forex traders said the American currency has retreated from its elevated levels post Federal Open Market Committee (FOMC) minutes. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.23 per cent to 105.82. Moreover, steady crude oil price is also aiding investor sentiments. "Brent is steady around USD 85 per barrel after Thursday's drop which came on reports that the price caps proposed for Russian crude were too high and above the current levels," IFA Global Research Academy said in a note. Brent crude futures, the global oi

Rupee sheds 0.2% to dollar as Covid worries trigger slump in yuan

Talk of persistent rate hikes by US Fed officials also drags rupee lower