Page 9 - Rupee Versus Dollar
Rupee weakens further against US dollar, hits fresh low of 71.10
The Indian rupee nosedived to a new life-time low of 71.10, shedding 10 paise against the US dollar in late afternoon trade on Monday, tracking weakening trend in emerging market currencies. A surge in global oil prices, concerns over US-China trade war and contagion risks from Turkey and Argentina are the factors impacting forex market sentiment. Brent crude oil moved up by 0.57 per cent 78.08 a barrel. The rupee's previous record low was 71, marked on August 31. Meanwhile, the BSE Sensex fell over 332.55 points to end at 38,312.52 and the NSE Nifty dipped below the 11,600-level by losing 98.15 points to close at 11,582.35 today on heavy losses in FMCG, realty, power, banking, auto, oil & gas, PSU, IT, teck, infrastructure and capital goods counters amid a global rout in equity markets. On a net basis, foreign portfolio investors (FPIs) sold shares worth Rs 212.81 crore Friday, as per provisional data.
 "Rupee weakens further against US dollar, hits fresh low of 71.10")
Biggest bond inflow in 7 months fails to rescue rupee; headwinds to persist
A rout in emerging-market currencies, elevated oil prices and fears of fiscal slippage before a general election next year have combined to make the rupee Asia's worst performer in 2018
 "Biggest bond inflow in 7 months fails to rescue rupee; headwinds to persist")
Rupee slide nearing its end, RBI likely to step in, say economists
The rupee should consolidate around the present level, but global sentiments could push it back to 72-72.5 a dollar level
 "Rupee slide nearing its end, RBI likely to step in, say economists")
Rupee falls 26 paise to hit record low; breaches 71-mark for first time
Growing fears about rising inflation in amid high global crude oil prices and consistent outflow of foreign funds from the domestic equity market also weighed on the domestic currency
Rupee touches fresh low of 70.74 to a dollar despite RBI intervention
The forex market was nervous after reports highlighted risks of India breaching the 3.3% fiscal deficit target for 2018-19
Rupee pares early losses, down 10 paise at 70.69 against US dollar
The rupee hovered between 70.62 and 70.90 during morning deals
Rupee retreats to hit a record closing low of 70.16 against US dollar
The rupee has been hit by a range of factors including swelling current account deficit, surging global crude prices and lukewarm export growth
 "Rupee retreats to hit a record closing low of 70.16 against US dollar")
Worst for rupee seems to be over; likely range 67-68/USD by Dec: HDFC Bank
The rupee ended below the 70-mark against the US dollar for the first time ever on August 16 and has lost 10 per cent so far this year
 "Worst for rupee seems to be over; likely range 67-68/USD by Dec: HDFC Bank")
Rupee likely to appreciate thanks to relief rally in emerging markets
The rupee ended below the 70-mark against the US dollar for the first time ever on August 16 on strong demand for the greenback amid the ongoing Turkish crisis
Weak rupee to have limited effect on sovereign rating of India: Fitch
The impact on the ratings would be limited by the country's relatively strong external finances, especially the low level of external debt
Here's how the rupee slump can complicate matters for Modi government
The 9.3% fall in the rupee this year has already led to a surge in local prices of goods with an imported component
Rahul takes dig at Modi, says rupee gave vote of no-confidence against PM
"Modiji finally managed to do something that we couldn't do in 70 years," the Congress party tweeted after the rupee fell to a new low of over 70 to a dollar
 "Rahul takes dig at Modi, says rupee gave vote of no-confidence against PM")
A new all-time low: Rupee at 70 a dollar now, but let us be reasonable
The present problem is ostensibly caused by the Turkey-US diplomatic imbroglio. Such issues can snowball into something more serious; so it will be difficult to guess when the issue will get resolved
 "A new all-time low: Rupee at 70 a dollar now, but let us be reasonable")
Rupee crashes to all-time low of 69.91 against dollar on Turkish Lira shock
Lack of FII inflows and growing oil prices are also affecting the rupee
Rupee jumps 19 paise against US dollar to 68.65 amid weakening greenback
On Friday, rupee staged an impressive rebound from lifetime low levels, surging 21 paise to end at 68.84 against dollar on suspected intervention by RBI to check volatility in currency markets
 "Rupee jumps 19 paise against US dollar to 68.65 amid weakening greenback")
'Dollar to stay bullish until next month, Re may hit 70.3 in Jul-Sep qtr'
Rupee has been among the worst-performing currencies against the dollar compared with its peers so far this year and breached the 69-mark against the US dollar amid multiple headwinds
Rupee slips 43 paise against dollar; ends at a lifetime low of 69.05
The rupee had touched an all-time low intra-day low of 69.10 on June 28 but had recovered later on suspected RBI intervention
Rupee climbs 25 paise to hit 3-week high of 68.32 against US dollar
On Thursday, the local currency had edged up by 20 paise to end at a one-week high of 68.57 against the US dollar
 "Rupee climbs 25 paise to hit 3-week high of 68.32 against US dollar")
RBI intervention to high tariffs: What can be done to cushion rupee's fall
With current-account deficit set to widen, thanks to higher oil prices and outflows from stocks and bonds, the rupee could be in for more weakness after it plunged to a record 69.0925 against dollar
Rupee likely to remain at 68-72 against USD in next 2-4 months: UBS Report
The rupee is expected to strengthen, and by the end of this financial year rupee is likely to be near 66, and by end-2019-20 at around 66.5
