Page 58 - Indian Rupee

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"

Rupee appreciates 9 paise to 83.10 against US dollar in early trade

The rupee rose 9 paise to 83.10 against the US dollar in early trade on Friday amid a retreating dollar versus major rivals and positive cues from equity markets. Massive selling of equities by foreign investors and an upward trend in crude oil prices, however, capped the rise of domestic currency, forex dealers said. The Indian unit opened strong at 83.13 against the US dollar and touched the highest level of 83.09. It later traded at 83.10 against the greenback, registering a gain of 9 paise from its previous close. On Thursday, the rupee settled 3 paise higher at 83.19. Analysts said higher interest rates and US bond yields are prompting foreign investors to stay in the selling mode in Indian capital markets, while the rupee witnessed some recovery due to a significant decline in India's current account deficit (CAD). The CAD has dropped to USD 9.2 billion, or 1.1 per cent of GDP in the first quarter of the current fiscal from USD 17.9 billion (2.1 per cent of GDP) a year ago,

Rupee appreciates 5 paise to 83.23 against US dollar in early trade

The rupee rose 5 paise to 83.23 against the US dollar in early trade on Wednesday, recovering from its steep loss in the past two sessions amid a massive selling by foreign equity investors and a strengthening American currency. Weak sentiment in the global equity markets and surging crude oil prices also weighed on the Indian currency, forex traders said. At the interbank foreign exchange, the domestic unit opened at 83.23 and traded in a narrow range of 83.21 to 83.24 against the greenback. It later traded at 83.23 against the dollar, registering a gain of 5 paise from its previous close. The rupee lost 34 paise in the past two sessions. It closed 15 paise lower at 83.28 against the dollar on Tuesday, a day after registering a loss of 19 paise. The downward movement of the rupee was attributed to a strengthening dollar amid a record rise in US Treasury yields. Also, the US dollar surged to a ten-month high level after a Federal Reserve policymaker hinted at a prolonged interest r

Nomura retains negative view on rupee despite JPMorgan index inclusion

Actual inflows may be smaller with some real money managers that they tracked already invested about 2%-3% on average, the brokerage said

Rupee gives up index inclusion-led rally; RBI counted on to help

The rupee was at 83.12 against the US dollar by 11:00 am IST compared with 82.93 in the previous session. The dollar index was largely flat in Asia, but remained near 6-month highs

Indians have 5 days to deposit $3 billion in soon-to-be-withdrawn banknotes

In its withdrawal notice, the RBI said the notes had served their purpose and were not commonly in use. It also cited its "clean note policy" to replace soiled notes within four to five years

Rupee appreciates by 38 paise to 82.75 against US dollar in early trade

The rupee appreciated by 38 paise to 82.75 against the US dollar in early trade on Friday, as the inclusion of India in the JPMorgan bond index boosted investor sentiment. Forex traders said the decision of JPMorgan Chase & Co to include Indian government bonds in its benchmark emerging-market index, is expected to have far-reaching implications for India's debt market and global investors. At the interbank foreign exchange, the domestic unit opened strong at 82.75, registering a gain of 38 paise from its previous close. On Thursday, the rupee consolidated in a narrow range to settle 2 paise lower at 83.13 against the dollar. India's inclusion in a major global bond index will open doors to increased foreign investment in the nation's debt market, traders said. "The inclusion of India in the JPMorgan bond index has had a favourable effect on the rupee, with the currency showing strength by appreciating around 0.42 per cent in the NDF markets and reaching levels around 82.80," CR .

Rupee appreciates by 19 paisa to settle at Rs 83.08 ahead of Fed outcome

The rupee had hit a fresh closing low of Rs 83.27 per US dollar on Monday, influenced by rising US Treasury yields and crude oil prices

Rupee hits all-time closing low of 83.27 to dollar amid rise in oil prices

The rupee had hit an all-time low of Rs 83.29 per dollar on October 20, 2022

Rupee settles near an all-time closing low as trade deficit widens

The surplus liquidity in the banking system fell to Rs 2,696 crore on Thursday ahead of the second tranche of Incremental Cash Reserve Ratio (I-CRR) disbursement on September 23

Around 22 nations exploring bilateral trade with India in rupee: Sitharaman

"Those countries are running short of dollar," Sitharaman said

Rupee up 10 paise to 82.93 amid positive trend in domestic equities

The rupee appreciated by 10 paise to 82.93 against the US dollar in early trade on Tuesday tracking a positive trend in domestic equities and foreign fund inflows. Forex traders said the rupee is trading in a narrow range as the soft US dollar and positive domestic markets provided support, while concerns over global economic slowdown and rising expectations of a rate hike by FOMC amid strong economic data from the US may cap sharp gains for the local unit. At the interbank foreign exchange, the domestic unit opened at 82.93, registering a rise of 10 paise over its last close. On Monday, the rupee closed on a flat note at 83.03 against the American currency. In the initial trade, the rupee also touched a low of 83.00 against the greenback. "Major crosses have been weighed down in the last few weeks following broader strength in the dollar. Safe haven buying in the greenback is witnessed also as economic concerns in China continue to weigh on the overall market sentiment," Gaurang

Rupee continued upward trend, rises 9 paise to 82.93 against US dollar

The rupee continued its upward trend for the second straight session and appreciated by 9 paise to 82.93 against the US dollar in early trade on Monday, tracking positive cues from domestic equity markets and a weak American currency against major overseas rivals. However, firm crude oil prices hovering above USD 90 per barrel and outflow of foreign funds weighed on the Indian currency, forex traders said. At the interbank foreign exchange, the domestic unit opened 9 paise higher at 82.93 and traded in a narrow range of 82.90 to 82.96 against the greenback. On Friday, the rupee closed at 83.02 against the US dollar. Gaurang Somaiya, forex and bullion analyst, Motilal Oswal Financial Services, said this week the domestic inflation number will be important to watch and could trigger volatility for the currency. "Today, volatility for major crosses including the rupee could remain low as no major economic data is expected to release. We expect the USDINR (Spot) to trade sideways with

Rupee appreciates 26 paisa to settle at Rs 82.95 as RBI sells US dollars

The RBI set the cut-off yield on the five-year, 10-year, and 30-year bond at 7.19 per cent, 7.16 per cent, and 7.34 per cent, respectively

Indian rupee inches up, but sustainable recovery unlikely - traders

Buying dollars above 83.10-83.15 was advisable only for "long-term players", he added

Rupee rises 10 paise to 83.13 against US dollar, recovers from all-time low

The rupee recovered from its all-time low levels and appreciated by 10 paise to 83.13 against the US dollar in early trade on Friday, tracking a positive trend in domestic equities. Forex traders said the rupee is trading in a narrow range as firm crude oil prices and the strength of the American currency in the overseas market dented investor sentiments, while positive domestic equities cushioned the downside. At the interbank foreign exchange, the domestic unit opened at 83.13, registering a rise of 10 paise over its last close. On Thursday, the rupee depreciated 10 paise to its lifetime low of 83.23 against the US dollar. Forex traders expect the rupee to trade with a negative bias on a strong dollar and elevated crude oil prices. Disappointing European data may further support the dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell marginally by 0.15 per cent to 104.89. Brent crude futures, the global oil benchmark, fell 0.

Rupee closes at record low vs dollar amid China slowdown concerns

In the current financial year, the rupee has depreciated by 1.25 per cent. It depreciated by 7.8 per cent in the previous financial year, FY22

Rupee depreciates 2 paise to hit lowest level of 83.15 against US dollar

The rupee fell 2 paise to hit the lowest level of 83.15 against the US dollar in early trade on Thursday amid a strong American currency and elevated crude oil prices. Forex traders said, massive selling of equities by foreign investors in the past few sessions and subdued market sentiment also put pressure on the Indian currency. Crude oil breached the level of USD 90 per barrel after oil producing countries agreed to extend supply cut till December this year, while dollar strengthened on safe-haven demand. At the interbank foreign exchange, the domestic unit opened at 83.15 against the dollar, 2 paise lower from its previous close. The unit traded in a narrow range of 83.14 to 83.16 against the greenback. On Wednesday, the rupee declined by 9 paise to close at 83.13 against the dollar. Earlier, the rupee had touched the level of 83.13 on August 21 this year. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell marginally by

Rupee to stay weak, third of analysts expect new low within a year: Poll

However, the RBI's regular interventions, which have brought foreign currency reserves below $600 billion, ensured limited depreciation