Page 7 - Rupee-dollar Swap

Rupee appreciates 25 paise to 82.47 against US dollar amid foreign inflows

The rupee registered the highest single-day gain in nearly two months and surged by 25 paise to 82.47 against the US dollar in early trade on Thursday amid a weakening dollar, foreign funds inflows and positive equity markets. According to reports, the rupee's sharp gain of 52 paise in the past two sessions was attributed to Reserve Bank of India's move to prevent banks from indulging in short-term trading in offshore currency markets. Forex traders said selling pressure in the greenback and retreating crude oil prices also boosted the Indian currency even as investors traded cautiously ahead of the BRICS summit and US Federal Reserve Chair Jerome Powell's speech at Jackson Hole Symposium during August 24-26. At the interbank foreign exchange, the domestic unit opened strong at 82.55 and touched the peak of 82.36 against the American currency. It later traded at 82.47, registering a rise of 25 paise over its previous close. On Wednesday, the rupee had appreciated by 27 paise to clo

Rupee appreciates 5 paise to 83.05 against US dollar in early trade

The rupee recovered from its all-time low levels and appreciated by 5 paise to 83.05 against the US dollar in early trade on Monday tracking a positive trend in domestic equities. Forex traders said the rupee is likely to trade with a negative bias on risk aversion in global markets and a rising US dollar. At the interbank foreign exchange, the domestic unit opened at 83.10, then touched a high of 83.05 against the American currency, registering a rise of 5 paise over its last close. On Friday, the rupee edged lower by 1 paisa to settle at an all-time low of 83.10 against the US dollar, weighed down by a negative trend in domestic equities, and foreign fund outflows. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.02 per cent to 103.39. Dollar witnessed its longest winning streak in the last 15 months following safe haven buying on the back of uncertainty in China and better-than-expected economic numbers from the US, said Gaurang

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 6 paise to 82.81 against US dollar in early trade

The rupee depreciated 6 paise to 82.81 against the US dollar in early trade on Tuesday 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 foreign fund outflows over the past few days. At the interbank foreign exchange, the domestic unit opened at 82.80, then touched 82.81, registering a decline of 6 paise over its last close as the RBI monetary policy committee meeting begins on Tuesday. The policy decision will be announced on Thursday. On Monday, the rupee had settled 6 paise higher at 82.75 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.28 per cent to 102.33. Brent crude futures, the global oil benchmark, rose 0.12 per cent to USD 85.44 per barrel. Rupee is trading in a narrow range and volatility remained low ahead of the RBI policy statement that is scheduled to release later this

Rupee rises 1 paisa against US dollar to close at 82.62 ahead of RBI meet

The rupee consolidated in a narrow range to settle just 1 paisa higher at 82.62 (provisional) against the US dollar on Tuesday amid a muted trend in domestic equities. The rupee is trading in a narrow range as market participants are vigilant ahead of the RBI's monetary policy later this week. The central bank is widely expected to leave the repo rate unchanged at 6.5 per cent. A strengthening greenback in the international markets also kept pressure on the domestic unit, forex traders said. At the interbank foreign exchange market, the local unit opened at 82.56 against the US dollar and settled at 82.62 (provisional), up 1 paisa over its previous close. During the day, the domestic unit witnessed an intra-day high of 82.56 and a low of 82.66. On Monday, the rupee closed at 82.63 against the US currency. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.12 per cent to 104.12. Global oil benchmark Brent crude futures declined 1.60

RBI likely buying dollars to prevent rupee appreciation, absorb inflows

Rupee was trading at 81.8275 per U.S. dollar, having reached 81.7325 earlier

Rupee expected to depreciate on worries over US Federal Reserve rate hikes

Indian rupee is expected to decline versus the dollar at open following an overnight jump in U.S. yields on bets of more rate hikes from the U.S. Federal Reserve

Rupee's expected volatility against dollar hits 7-month low, at 4.50/4.80%

Indian rupee's expected volatility against the dollar over the next one month hit its lowest level in almost seven months on Tuesday

Rupee appreciates 10 paise to close at 82.72 against US dollar on Monday

The rupee appreciated by 10 paise to close at 82.72 (provisional) against the US dollar on Monday, as the American currency retreated from its elevated levels. Forex traders said a muted trend in domestic equities and foreign fund outflows weighed on investor sentiments and restricted the appreciation bias. At the interbank foreign exchange market, the local unit opened at 82.69 against the American currency and finally settled at 82.72 (provisional) against the greenback, registering a gain of 10 paise over its previous close of 82.82. During the trading session, the rupee touched a high of 82.62 and a low of 82.74 against the dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.04 per cent to 103.90. Global oil benchmark Brent crude futures advanced 1.05 per cent to USD 83.87 per barrel. "Rupee traded strong near 82.75 as dollar index traded below USD 104 guiding rupee strength. Asian currencies were trading strong on the ba

Rupee poised to weaken after dollar jump on hawkish Federal Reserve

The Indian rupee is expected to open lower against the U.S. currency on Friday, following a surge on the dollar index after two Federal Reserve officials said they preferred bigger rate increases

Rupee depreciates 12 paise to 82.90 against US dollar in early trade

The rupee depreciated 12 paise to 82.90 against the US dollar in early trade on Wednesday, weighed down by a strong American currency after the US inflation data for January stoked worries that the Federal Reserve will keep interest rates higher for longer. A muted trend in domestic equities and firm crude oil prices further dented investor sentiments, forex traders said. At the interbank foreign exchange, the domestic unit opened weak at 82.90 against the dollar, registering a decline of 12 paise over its last close. In the previous session on Tuesday, the rupee settled at 82.78 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.14 per cent to 103.38. Brent crude futures, the global oil benchmark, declined 0.70 per cent to USD 84.98 per barrel. "In the overseas markets, the dollar index rebounded from lows of the session as data for January showed the smallest annual increase in US consumer prices si

Contribution of cesses to central govt's tax kitty doubles to over 18%

States have been concerned about increasing cases of Centre imposing cesses for garnering additional revenue

Rupee gains 18 paise to 81.08 against weak US dollar in overseas trade

The rupee appreciated 18 paise to 81.08 against the US dollar in early trade on Friday supported by a weak dollar in the overseas market. Forex traders said weak domestic equities and foreign fund outflows weighed on the local unit and restricted the appreciation bias. At the interbank foreign exchange, the domestic unit opened at 81.11 against the dollar, then gained further ground to touch 81.08, registering a rise of 18 paise over its previous close. On Thursday, the rupee appreciated by 4 paise to close at 81.26 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.01 per cent to 104.71. Brent crude futures, the global oil benchmark, advanced 0.22 per cent to USD 87.07 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 259.39 points or 0.41 per cent lower at 63,024.80. The broader NSE Nifty fell 71.60 points or 0.38 per cent to 18,740.90. Foreign Institutional Investors

Foreign exchange reserves rise at fastest pace in more than a year

Revaluation amid weaker dollar, spot market purchases lift reserves to $544.72 billion

Rupee tumbles 5 paise to 82.29 against US dollar in opening trade

The rupee after opening on a positive note, pared the gains and slipped 5 paise to 82.29 against the US dollar amid high volatility in early trade on Friday. At the interbank foreign exchange, the domestic unit opened at 82.26 against the dollar, then touched 82.12, registering a gain of 12 paise over its previous close. In initial trade, the rupee also touched 82.29 against the American currency. On Thursday, the rupee had settled at 82.24 against the greenback. "Dollar strengthened immediately post the CPI print but saw a massive reversal on short covering in majors," IFA Global Research Academy said in a research note, adding the US headline September CPI came in higher than expected at 8.2 per cent year-on-year (0.4 per cent MoM) against 8.1 per cent yoy (0.2 per cent month-on-month). Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.08 per cent to 112.27. Brent crude futures, the global oil benchmark, fell 0.13 per c

Rupee tumbles 14 paise to close at 82.35 as US dollar strengthens

The rupee fell 14 paise to close at 82.35 (provisional) against the US dollar on Wednesday amid the strengthening of the American currency and sustained foreign fund outflows. Besides, risk aversion sentiment among investors weighed on the local unit. At the interbank foreign exchange market, the local currency opened at 82.32, then fell further to settle at 82.35 against the American currency, registering a decline of 14 paise over its previous close. During the session, the local unit witnessed an intra-day high of 82.15 and a low of 82.37 against the greenback. On Tuesday, the rupee rebounded from its all-time low to close 19 paise higher at 82.21 against the US dollar. "In line with the dollar index, the rupee marked another steady day. So far this week, the rupee has been trading in a narrow range and closing near 82.32," said Dilip Parmar, Research Analyst, HDFC Securities. Parmar said a rebound in the domestic equities and the central bank's intervention ahead of the cruci

S&P raises India inflation forecast by 50 basis points to 6.8% for FY23

India is facing the external pressures of higher commodity prices, US dollar dominance, and tightening financial conditions from a position of relative strength: S&P

Rupee breaches 80/$ for first time, settles at 79.95 after RBI intervention

The rupee has depreciated 7.01 per cent against the dollar this year

Rupee depreciates 9 paise to 79.03 against dollar in early trade

The rupee depreciated 9 paise to 79.03 against the dollar in opening trade on Monday, as persistent foreign funds outflows weighed on investor sentiments

Rupee plunges to all-time low of 77.84/$ amid rising crude oil prices

The currency closed at a record low of 77.84 against the dollar after hitting 77.88 in intraday trading.