Page 57 - Indian Rupee

Option traders see RBI's grip on Rupee lasting for the rest of 2023

The rupee has weakened about 0.5 per cent this year, the least among Asia's emerging markets, thanks to inflows of nearly $18 billion and RBI intervention

Cost of money

Yields may remain elevated for an extended period

Rupee depreciates 3 paise to 83.15 against US dollar in early trade

The rupee declined 3 paise to 83.15 against the US dollar in a restricted trade on Monday due to a stronger greenback in overseas markets and foreign fund outflows. A correction in crude oil prices and firm domestic stock markets in opening trade capped the losses of the rupee, according to forex dealers. The local unit opened lower by 3 paise at 83.15 against the greenback at the interbank foreign exchange market. The rupee moved in a tight range of 83.15 to 83.09 against the dollar in morning deals before trading at 83.15. It had closed almost flat at 83.12 on Friday. Foreign Portfolio Investors (FPIs) have withdrawn over Rs 12,000 crore from Indian equities so far this month, mainly due to a sustained rise in US bond yields and the uncertain environment resulting from the Israel-Hamas conflict. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, gained 0.12 per cent to 106.30. Oil prices eased on Monday with the global oil ...

Rupee logs best day in 3 weeks on likely 'aggressive' RBI intervention

"Any uptick on the rupee is likely to be short-lived with importers stepping in"

Rupee depreciates 5 paise to 83.18 against US dollar in early trade

The rupee depreciated by 5 paise to 83.18 against the US dollar in early trade on Friday due to unabated foreign fund outflow amid rising crude oil prices. Negative equity market sentiment and a strong dollar also weighed on the Indian currency, forex traders said. At the interbank foreign exchange, the domestic unit opened weak at 83.17 against the dollar and then touched the lowest level of 83.20 against the greenback. It later traded at 83.18 against dollar, registering a loss of 5 paise over its previous close. On Thursday, the rupee settled 15 paise higher at 83.13 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.03 per cent to 106.28. Analysts attributed the decline in rupee to a record rise in US Treasury yield even as US Federal Reserve Chair Jerome Powell on Thursday hinted at a longer period of monetary tightening due to higher-than-expected inflation numbers. "Trading boundaries are now

Reserve Bank of India net sells $3.9 billion foreign currency in August

The rupee depreciated by 0.6 per cent in August. In July, the RBI had recorded a net purchase of $3.4 billion in the spot market

RBI intervenes to helps rupee from hitting new low amid high US yields

The Indian unit moved in a range of Rs. 83.25 a dollar to Rs. 83.28 per US Dollar for the entire day

Rupee hits fresh closing low of Rs 83.28 due to rise in crude oil prices

Brent crude oil prices crossed $90 per barrel on Monday, a 6 per cent increase from Friday, amid escalating geopolitical tensions in West Asia

Rupee to rely on RBI's intervention amid surging oil prices: Traders

Non-deliverable forwards (NDFs) indicate rupee will open at around 83.25-83.26 to the U.S. dollar, barely changed from the previous session

RBI's active rupee management stretches valuation to near 2-year peak

The RBI regularly intervenes in the foreign exchange markets and stepped up intervention in September

Indian rupee to receive help from pullback in oil, traders eye US inflation

Non-deliverable forwards indicate rupee will open marginally higher than 83.1875 in the previous session

Rupee falls 2 paise to settle at an all-time low of Rs 83.27 per US dollar

The rupee had settled at the same level on September 18

Rupee-denominated green bonds to pick pace from FY24: SBI's Dinesh Khara

He highlighted that India began green bond issuances in 2014, has garnered Rs 43 billion through green bonds and has been instrumental in augmenting the adoption of renewable energy

Looking at expanding rupee-dirham trade, says Piyush Goyal in UAE

Goyal added that trade in domestic currencies will help save at least 5 per cent on all trade between the two countries

Indian rupee to trade in tight range as RBI keeps intervening: Poll

Still, the rupee has been trading close to its record low of 83.29 to the dollar as traders bet against Asian currencies

With dollar sales, RBI prevents rupee from hitting all time low: Report

Dealers estimate that state-run banks sold approximately $500 million on behalf of the RBI

Rupee weakens 17 paisa against the US dollar, settles at Rs 83.21

The rupee settled at Rs 83.21 per US dollar on Monday, against Rs 83.04 a dollar on Wednesday

Indian pharma exports to Iran decline thanks to its lower rupee reserves

Indian pharma exports to Iran have declined from $205.1 million in FY20 to $59.14 million in FY23. Iran's rupee reserves have depleted as India ceased oil imports from the country in mid-2019

Despite choppy Q2, rupee shines bright in Asia in first half of FY24

After a steady first quarter, the currency came under pressure in the second quarter following a rise in US yield and rising crude oil prices towards the end of September

Standard Chartered does not see rupee cross 84 even if dollar climbs

Sinha said the RBI will continue to maintain tight liquidity conditions to help support the rupee unless "we see big shocks from the global markets or if crude starts trending higher"