Page 60 - Indian Rupee

Rupee appreciates by 25p to settle at three week high of Rs 82.69

The local currency had hit the all-time low closing level of 83.15 per US dollar on Thursday on the back of rise in US Treasury yields

Rupee appreciates 7 paise to 83.06 against US dollar in early trade

The rupee recovered from its all-time low levels and appreciated by 7 paise to 83.06 against the US dollar in early trade on Tuesday, as the American currency retreated from its elevated levels. Forex traders said the rupee is trading in a narrow range as selling pressure by foreign investors dented sentiments, while the weak tone in US dollar and positive domestic markets cushioned the downside. At the interbank foreign exchange, the domestic unit opened at 83.07, then touched a high of 83.06 against the American currency, registering a rise of 7 paise over its last close. On Monday, the rupee depreciated by 3 paise and settled for the day at an all-time low of 83.13 against the US dollar. "Rupee in the last one week has witnessed quite a bit of action but in the last couple of sessions it is consolidating in a narrow range and volatility has been low," said Gaurang Somaiya forex and bullion analyst, Motilal Oswal Financial services. Somaiya further added that the US dollar too i

Rupee outperforms its EM Asia peers even as it approaches record low

The improved economic fundamentals are why the currency is largely holding its own against the dollar - it's down just 0.5 per cent this year and is Asia's third-best performer

BS Poll: Rupee expected to weaken more to touch $83.5, may improve in Sept

Weakening Yuan puts pressure; seen largely stable in 2023

Weekend Bites: E-transport, falling rupee, moon shot, and horror in court

In which we munch over the week's platter of news and views

Rupee ends at record low vs dollar as US Treasury yields hit 15-year high

External factors bear on the Indian unit as domestic fundamentals stay strong

Tightening India-US 10-year bond yield spread puts rupee under pressure

The yield on 10-year Indian government bonds is now only 295 basis points higher than that of US 10-year treasury bonds, the lowest since January 2007

Rupee rises 9 paise to 82.99 against US dollar, recovers from all-time lows

The rupee recovered from its all-time low levels and appreciated by 9 paise to 82.99 against the US dollar in early trade on Thursday as crude oil price retracted from its elevated levels. However, a muted trend in domestic equities and strength of the American currency in the overseas market dented investor sentiments, forex traders said. At the interbank foreign exchange, the domestic unit opened at 83.10, then touched a high of 82.99 against the American currency, registering a rise of 9 paise over its last close. On Monday, the rupee depreciated 26 paise to settle at an all-time low of 83.08 against the US dollar. Forex market was closed on Tuesday and Wednesday on account of Independence Day and Parsi New Year, respectively. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.12 per cent to 103.55. "The dollar index rose above 103 levels following safe haven buying on the back of rising uncertainty and after hawkish FOMC meeting

RBI likely sold dollars via PSBs to keep rupee from record lows: Traders

The RBI likely sold dollars to pull the rupee back near the 83 level

Rupee slumps to 10-month low as dollar index rises; breaches 83/$ intraday

Breaches 83/$ intraday; RBI intervention cap losses

Indian rupee falls, caught between dollar rally and likely RBI intervention

The rupee was at 82.9250 to the dollar by 11:02 a.m. IST, down from 82.8450 on Friday

Rupee depreciates 25 paise to 83.07 against US dollar in early trade

The rupee depreciated 25 paise to 83.07 against the US dollar in early trade on Monday as a negative trend in domestic equities and firm crude oil prices weighed on investor sentiments. Forex traders said the rupee is trading lower on strong dollar and sustained foreign fund outflows over the past few days. At the interbank foreign exchange, the domestic unit opened at 83.04, then touched 83.07, registering a decline of 25 paise over its last close. On Friday, the rupee had settled 16 paise lower at 82.82 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.17 per cent to 103.01. Brent crude futures, the global oil benchmark, fell 0.89 per cent to USD 86.04 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 484.37 points or 0.74 per cent lower at 64,838.28. The broader NSE Nifty declined 151.85 points or 0.78 per cent to 19,276.45. Foreign Institutional Investors (FIIs) were

Rupee appreciates, govt bond reverses gains post US non-farm payroll data

The yield on the benchmark 10-year government bond ended flat at 7.20 per cent

Rupee hits over two month low tracking Asian peers; RBI caps losses

The rupee ended at 82.7225 against the dollar, down 0.2% compared with 82.5825 on Wednesday

Rupee falls 5 paise to 82.72 against dollar amid negative trend in equities

The rupee depreciated 5 paise to 82.72 against the US dollar in early trade on Thursday as a negative trend in domestic equities and firm crude oil prices weighed on investor sentiments. Sustained foreign fund outflows, strength of the American currency in the overseas market further dented sentiments, forex traders said. At the interbank foreign exchange, the domestic unit opened at 82.71, then touched 82.72, registering a decline of 5 paise over its last close. On Wednesday, the rupee had settled at 82.67 against the dollar, registering a fall of 45 paise from its previous close. This was the biggest single-day fall for the rupee in nearly six months. The Indian currency had witnessed the steepest intra-day fall of 68 paise on February 6, when it had settled at 82.76 against the greenback. The rupee was trading in a negative note on risk aversion in global markets and weak Asian currencies. There was also downside pressure on the local unit due to strong dollar against major riv

RBI intervention to keep rupee in tight range, analysts say: Poll

Expected volatility in the rupee over the next three months was at its lowest in two decades as the Indian central bank continued to buy dollars, adding to its FX reserves of over $600 billion

Rupee slips to near one month low after US downgrade, oil firms demand

However, the Indian unit fares better than Asian peers

Indian Rupee not legal tender for domestic payments: S Lanka Central Bank

Sri Lanka's Central Bank said on Wednesday that no domestic transactions would be allowed with the Indian Rupee in the island country, as it warned people not to be misled by inaccurate information surrounding the issue. The apex bank said that even though the Indian Rupee (INR) has been endorsed as a designated foreign currency, it is not a legal tender in Sri Lanka for domestic payments/settlements. Any transaction executed between or among residents in Sri Lanka shall be in LKR (Lankan Rupee), being the legal tender in Sri Lanka, the central bank said in a statement. It added that the INR was designated a foreign currency in Sri Lanka in August 2022. Trade between Sri Lanka and India has grown rapidly after the Indo-Sri Lanka Free Trade Agreement, which came into force in March 2000," the bank said. "In view of the expanding economic activities between India and Sri Lanka, particularly in promoting existing trade relations between the two countries, on several occasions, CBSL .

Rupee continues to remain stable in July, ends flat at 82.25 a dollar

For the week ended July 21, foreign exchange reserves were at $607 billion as compared to $562 billion on December 30, 2022

Fiscal deficit for April-June at 25.3% of annual target: Govt data

Total expenditure during the period was Rs 10.51 trillion,or 23.3% of the annual goal, lower than the Rs 9.48 trillion in the same period last year