Page 4 - Rupee-dollar Swap

Standard Chartered leads as dollar settlement bank in India's GIFT city

A settlement bank is traditionally responsible for processing trades, dealing with everything from the exchange of payment from buyer to seller and the transfer of securities.

Rupee falls below 84.50/$ for first time on dollar strength, outflows

The gains paused earlier in the week but restarted on Wednesday due to heightened geopolitical risks and after the Federal Reserve officials signalled caution on rate cuts

Rupee hits another low on rise in crude oil prices, equity selloff

Caution ahead of the US Fed meet outcome weighs on currency

Rupee hits record low as US election news boosts dollar, RBI steps in

The dollar index climbed 1.5 per cent to a four-month high of 105.19 as trends signalled an edge for Republican candidate Donald Trump, prompting interest in so-called 'Trump trades.

Rupee's stability provides resilience amid uncertainty of US elections

"The RBI remains strongly in the market to cap FX volatility and FX reserves are more than adequate," said Michael Wan, senior currency analyst at MUFG Bank. Also, India's "macro stability remains

Rupee flat at 84 against US dollar as local equities offset gains

Routine interventions by the Reserve Bank of India, though, have ensured that the rupee doesn't suffer sharp losses

Rupee holds steady as exporters delay dollar hedging amid volatility

Most exporters reckon that the risks that rupee will depreciate from here are much higher than it will appreciate, a forex salesperson at a mid-sized private

Rupee slips to record closing low on outflows, avoids sharper losses

The dollar index has risen nearly 3% in October, boosted by expectations of shallower rate cuts by the Federal Reserve

A $700 billion war chest: India's external sector needs skilful management

The important question is what if the insurance of higher reserves and stability in currency attracts substantially more capital inflows?

RBI intervention keeps rupee from hitting 84 against the US dollar

The rupee was weighed by outflows from the domestic equities, rise in crude oil prices, and the surge in dollar index, said dealers

Rupee depreciates 15 paisa against US dollar tracking Asian peers

The significant outflow from domestic equities further weighed on the Indian unit, said dealers

Rupee holds above lifetime low, supported by likely RBI intervention

That weighed on Asian currencies. But the rupee held its ground, supported by state-run banks' dollar sales, most likely on behalf of the RBI, traders said

Rupee gives up early gains to end flat due to importers' dollar demand

Market participants said that the Reserve Bank of India's intervention through dollar buys further weighed on the rupee during the day

Rupee falls to all-time low of 83.72 against US dollar in early trade

Rupee opened on a muted note and fell to an all-time low of 83.72 against the US dollar on Thursday, dragged down by the strength of the American currency in the overseas market and significant foreign fund outflows. Forex traders said the fall in the domestic unit came on the heels of a significant downturn in the Indian equity markets, sparked by the government's decision to hike the tax rate on capital gains. At the interbank foreign exchange market, the local unit was trading in a narrow range. It opened at an all-time low of 83.72 against the American currency, registering a fall of 1 paisa from its previous close. On Wednesday, the rupee depreciated 2 paise to hit its all-time closing low of 83.71 against the US dollar. The government's decision to hike the tax rate on capital gains dampened market sentiment, exerting immense pressure on the rupee and the equity market. "Post-budget day, the benchmark Indian equity indices, BSE Sensex and Nifty 50, dipped by approximately 0.

Rupee rises 4 p to 83.62 against US dollar in early trade ahead of Budget

The rupee appreciated 4 paise to 83.62 against the US dollar in early trade on Tuesday, ahead of the Budget presentation. Forex traders said the local currency gained strength as crude oil prices and the American currency retreated from their elevated levels. Moreover, foreign fund inflows also supported the rupee. At the interbank foreign exchange market, the local unit opened at 83.64, and touched an early high of 83.62, registering a gain of 4 paise from its previous close. On Monday, the rupee consolidated in a narrow range to settle 4 paise higher at 83.66 against the American currency. Forex traders said marketmen will closely watch the Union Budget for further cues on fiscal deficit, capital expenditure, tax revenue and GST among others. Finance Minister Nirmala Sitharaman will present her 7th straight Budget that would lay a roadmap for Viksit Bharat (developed India) by 2047, while giving a glimpse of 10 years' performance. The Indian rupee has been down as dollar buying

Indian rupee snaps three-day winning streak tracking weak Asian peers

The rupee settled at Rs 83.57 per dollar on Wednesday, against Rs 83.43 per dollar on Tuesday

Gujarat's new financial hub aims for real-time dollar settlement by 2025

The service which will cut down on times and delays, and it would be available for financial firms in Gujarat International Finance Tec-City

Rupee falls 22 paise to close at 83.40 against US dollar on crude prices

The rupee settled 22 paise lower at 83.40 against the US dollar on Wednesday, tracking a negative trend in domestic equities, elevated crude oil prices, and foreign fund outflows. Forex traders said dollar demand from importers and oil marketing companies (OMCs) also weighed on the rupee. However, foreign inflows in the bond markets ahead of inclusion on India's government bonds in global bond index cushioned the downside. At the interbank foreign exchange market, the local unit opened at 83.22 and finally settled for the day at 83.40, down 22 paise from its previous close. On Tuesday, the rupee pared initial gains to settle 5 paise lower at 83.18 against the US dollar. "We expect the rupee to trade with a slight negative bias on month-end dollar demand from OMCs and importers to meet their obligations. Risk aversion in global markets and a strong US dollar may further pressurize the rupee," said Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas. However, fresh foreign

Reserve Bank of India net dollar purchases in FY24 highest since FY21

March dollar purchase highest since June 2021

Rupee settles near record closing low vs dollar ahead of US inflation data

The local currency settled at Rs 83.53 a dollar against 83.50 a dollar on Friday. It had hit the record closing low of 83.54 on April 16 this year