Page 46 - Indian Rupee

India, Russia explore dynamic rupee-rouble rate to overcome trade issues

RBI deputy governor T Rabi Sankar and top officials of some public sector banks are visiting Moscow for a meeting of the India-Russia Joint Business Council for banking and finance

Rupee flat, forward premiums dip as focus shifts to US inflation data

The rupee has struggled over the last two weeks amid outflows from local stocks

Rupee rises 8 paise to 83.89 against US dollar during early trade

Rupee appreciated 8 paise to 83.89 against US dollar in early trade on Friday, supported by a positive trend in domestic equities and a decline in the US dollar index. Forex traders said post the Reserve Bank of India's monetary policy announcement, markets now await for US CPI data, India CPI, WPI and IIP data and India's trade data all scheduled to be released next week. The Jackson Holes Symposium to be held after next week will also remain in focus, traders said. At the interbank foreign exchange, the rupee opened at 83.95 against the greenback, then touched 83.89, registering a rise of 8 paise over its previous closing price. On Thursday, the rupee consolidated in a narrow range and settled for the day lower by 2 paise at 83.97 against US dollar. Rupee was protected by the Reserve Bank of India (RBI) at 83.96 for this week and the local unit is likely to trade in a narrow range of 83.90/84.00 for the day after the RBI kept key benchmark rates on hold, said Anil Kumar Bhansali

RBI expected to step up intervention if the rupee touches 84 level

Indian currency tested a series of record lows in recent days but stopped short of crossing that key level

Rupee weakens to new intra-day low as investors exited from carry trades

Market participants said that the RBI asked some banks to refrain from speculative trading against the rupee

RBI asks top banks to refrain from large trading bets against rupee

The Indian rupee turned into the worst-performing Asian currency over the last month, pressured by the unwinding of trades that used the Chinese yuan to fund long bets on the local currency

RBI's firm grip keeps rupee outlook unchanged, limits fall to 0.25%: Poll

That trend was unlikely to change anytime soon as analysts in an Aug. 1-6 poll have barely changed their forecasts from a poll in July

Rupee nears 84 per US dollar tracking Asian peers, foreign outflows

RBI intervenes in off-shore, spot markets to curb volatility

Rupee recovers from all-time low levels, opens 25 paise higher at 83.84

The rupee recovered from its all-time low level and opened 25 paise higher at 83.84 against the US dollar in morning trade on Tuesday, mirroring the rebound in the domestic equity market, even as aggressive dollar bids from foreign banks exerted pressure on the local unit. Forex traders said risk aversion in the global markets, escalation of geopolitical tensions in the Middle East and outflows by foreign investors further dented investor sentiments. At the interbank foreign exchange market, the local unit opened at 83.92 and then touched an early high of 83.84, registering a 25 paise gain from its all-time closing low of 84.09 against the American currency. On Monday, the rupee slumped 37 paise to settle at an all-time low of 84.09 against the US dollar. "The rupee is being sold off in good times and bad times indicating the demand for US dollar as foreign portfolio investors exit the Indian equity market on high valuation concerns," said Anil Kumar Bhansali Head of Treasury and .

Rupee at new low of 83.85 against US dollar, bonds gain on global cues

Market participants said that the local currency might gradually depreciate to Rs. 84 per dollar in near term

Rupee worst Asian currency in U-turn as yuan carry trades unwind

The contrasting fortunes have carried over into August. The offshore Chinese yuan climbed to nearly 7.11 on Monday, its best level since the first week of this year

Rupee slips to all-time low of 83.80 against US dollar in early trade

Rupee opened on a muted note and fell to an all-time low of 83.80 against the US dollar on Monday, as the risk off situation in world markets kept the dollar well bid. Forex traders said the sharp downfall in the domestic unit came on the heels of a significant downturn in the Indian equity markets and significant foreign fund outflows. At the interbank foreign exchange market, the local unit opened at 83.78 and then fell to an all-time low of 83.80 against the American currency, registering a fall of 8 paise from its previous close. On Friday, the rupee settled 1 paisa higher at 83.72 against the US dollar in a range-bound trade. Over the past week, major global equities experienced a significant sell-off. The release of last week's US Jobs Report, which fell significantly below expectations, sparked recession fears in the market, increasing demand for safe-haven assets. Additionally, the upcoming US elections in November are likely to keep investors on edge. Meanwhile, tensions

Rupee expected to decline further as policy shift comes into focus

The currency tested successive lows in recent days amid outflows from local stocks following a hike in equity taxes

RBI intervenes as rupee falls to new low; hits 83.76 against US dollar

The rupee settled at Rs 83.75 per dollar, against Rs 83.73 per dollar on Thursday

Global stock sell-off on slowdown concern pushes Indian rupee to record low

Investor sentiment soured after weaker-than-expected US factory data prompted growth concerns while tensions about a widening conflict in the Middle East weighed

Rupee turns flat at 83.73 against US dollar amid high crude oil prices

The rupee turned flat at 83.73 against the US currency on Friday amid weak equity markets and an upward movement in crude oil prices overseas. According to forex traders, the Indian currency found support due to softening dollar against major rivals following the US Federal Reserve's decision to maintain the status quo on interest rates and some inflow of foreign capital into Indian equities. At the interbank currency exchange, the domestic currency opened at 83.74 and inched up to trade at 83.73 against the dollar, the previous day's closing level. On Thursday, the rupee declined 5 paise to settle at 83.73 against the US dollar. Anand James, Chief Market Strategist, Geojit Financial Services, said the rupee's weakness was capped by "a likely intervention from the Reserve Bank of India, which sold dollars through state-run banks". "The next key US economic release is the July jobs report, expected on Friday," he added. Meanwhile, the dollar index, which gauges the greenback's str

Rupee near all-time low, RBI intervention expected to limit losses

The rupee had declined to its all-time low of 83.7450 on Wednesday

Rupee rises 2 paise to 83.71 against US dollar during early trade

The rupee rose 2 paise to 83.71 against the US currency in early trade on Wednesday following a marginal dip in the dollar in overseas markets. At the interbank currency exchange, the domestic currency opened at 83.72, 1 paisa higher than the previous day's close. The domestic unit moved in the tight range of 83.70-83.72 in early trade. Forex traders said the rise in Brent crude oil prices offset the rupee's gains following the decline in dollar rates overseas. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.19 per cent to 104.36. Brent crude futures -- the global oil benchmark -- rose 1.49 per cent to USD 79.80 per barrel. All eyes will be on the US Fed rate announcement later in the day. Expectations are ripe that the Federal Reserve might signal a rate cut as early as September. In the domestic equity market, the 30-share BSE Sensex showed volatility, rising over 200 points in early trade to reach a record high

Rupee hits a fresh low of 83.74/$ due to month-end dollar demand

In July so far, the rupee has depreciated by 0.4 per cent, against 0.1 per cent in June

Rupee rises 2 paise to 83.72 against US dollar during early trade

The rupee appreciated by 2 paise to trade at 83.72 against the US currency in the early session on Monday amid a weak dollar in the overseas markets. At the interbank foreign exchange market, the rupee opened firm at 83.70 against the US dollar. The local currency moved in a tight range of 83.70 to 83.72 in early trade. The rupee was trading at 83.72 against the US dollar at 9.30 am. Foreign fund outflows from Indian equities after the government's decision to hike the tax rate on capital gains weighed on the local currency and restricted the upmove, forex traders said. The domestic currency had recovered from its all-time low by 5 paise to settle at 83.73 against the US dollar on Friday, on the strength in domestic markets and expectations of fresh foreign inflows. In the domestic equity market, the 30-share BSE Sensex hit an all-time high, rising 355.7 points, or 0.44 per cent, to 81,688.42 in early trade on Monday. Meanwhile, the dollar index, which gauges the greenback's stre