Page 30 - Rupee Vs Dollar

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 recovers from all-time low, rises 2 paise against US dollar

Forex traders said investors were cautious ahead of the US presidential election. Markets are bracing for potential volatility over the coming days

Rupee down 2 paise at all-time low of 84.13 against US dollar on FDI exodus

The rupee fell 2 paise to an all-time low of 84.13 against the US dollar in early trade on Tuesday, as persistent foreign fund outflows and a muted trend in domestic equities dented investor sentiments. Forex traders said all eyes are on the US as it decides its next President. Markets are bracing for potential volatility over the coming days, especially with the Federal Reserve's monetary policy announcement also scheduled this week. At the interbank foreign exchange, the rupee opened at 84.13 against the greenback, registering a fall of 2 paise over its previous close. On Monday, the rupee fell 4 paise to settle at a record low level of 84.11 against the US dollar. The rupee closed at an all-time low on Monday and opened at a new low of 84.13 as US elections rattled stock markets amid persistent foreign fund outflows, said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP. "The Reserve Bank of India (RBI) was present to absorb the fall

Rupee falls to new low on FPI selloff and rise in crude oil prices

Market participants said the Reserve Bank of India (RBI) intervened in the foreign exchange market via dollar sales to protect the rupee from further depreciation

Rupee opens on flat note, rises 1 paisa to 84.07 against US dollar in trade

The rupee opened on a flat note and rose 1 paisa to 84.07 against the US dollar in initial deals on Thursday, as strong dollar and persistent foreign fund outflows dented investor sentiments. Forex traders said the rupee remained range bound as month-end demand kept the US dollar well-bid. Moreover, a muted trend in domestic equities weighed on the local unit, while any intervention by the Reserve Bank of India (RBI) may support the local currency at lower levels, they said. At the interbank foreign exchange, the rupee opened at 84.08 against the greenback, it rose 1 paisa to 84.07 in initial trade. On Wednesday, the rupee depreciated 3 paise to close at 84.08 against US dollar. The local currency has been hovering around its all-time low level. Rupee touched its lowest closing level of 84.10 against the dollar on October 11. The rupee has been trading below the 84-level for the majority of October, but the recent pressure is primarily due to domestic factors, notably month-end d

Rupee depreciates 2 paise to 84.07 against US dollar in early trade

The rupee opened on a flat note and depreciated 2 paise to 84.07 against the US dollar in initial deals on Wednesday, weighed down by persistent foreign fund outflows and muted domestic equities. Forex traders said the strength of the American currency in overseas markets dented investor sentiments, while easing crude oil prices and any intervention by the Reserve Bank of India (RBI) may support the local currency at lower levels. At the interbank foreign exchange, the rupee opened at 84.06 against the greenback. In the initial trade, it touched 84.07, down 2 paise from its previous closing. On Tuesday, the rupee gained 2 paise to settle at 84.05 against the US dollar. The local currency has been hovering around its all-time low level. Rupee touched its lowest closing level of 84.10 against the dollar on October 11. According to traders, the rupee remains under intense pressure, mainly due to persistent foreign fund outflows. "The Indian rupee remains firmly range-bound, trading

Rupee opens on flat note at 84.08 against US dollar during early trade

The rupee opened on a flat note and depreciated 1 paisa to 84.08 against the US dollar in initial deals on Tuesday, as persistent foreign fund outflows and the strength of the American currency in the overseas market dented investor sentiments. Forex traders said a muted trend in domestic equities and strong dollar weighed on the local unit, while easing crude oil prices and any intervention by the Reserve Bank of India (RBI) may also support the local currency at lower levels. At the interbank foreign exchange, the rupee opened at 84.08 against the greenback. In the initial trade, it touched 84.07. On Monday, the rupee settled 1 paisa higher at 84.07 against the US dollar. The local currency touched its lowest closing level of 84.10 against the dollar on October 11. According to traders, the rupee remains under intense pressure, mainly due to persistent foreign fund outflows. "The Indian rupee remained in a range of 2 paise on Monday and is expected to remain in the same small r

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 hovers close to all-time low as equities remain under pressure

Rupee has been pressured by a surge in outflows from local stocks alongside in a rise in US bond yields and the dollar index this month

Rupee turns flat at 84.07 against US dollar on foreign fund outflow

The rupee stayed flat at 84.07 against the US dollar in early trade on Thursday amid elevated crude oil prices and continuous withdrawal of foreign funds from capital market. However, the local unit found some cushion as the dollar retreated from its higher level while the domestic equity markets indicated a recovery, forex traders said. At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and slipped 1 paisa to trade at previous day's closing level in initial deals. On Wednesday, the rupee had settled with a marginal gain of 1 paisa at 84.07 against the US dollar. The local currency has been struggling to recover since October 11, when it closed at its lowest level of 84.10 against the dollar. Analysts said the selling rush by foreign investors in pursuit of better gains from the Chinese market has been preventing rupee's recovery, while higher US treasury yields has triggered the fear of slower interest rate cut by the Federal Reserve. Amid uncerta

Rupee trades 1 paisa higher at 84.07 against US dollar amid weak equities

The rupee stayed almost flat, trading 1 paisa higher at 84.07 against the US dollar in early trade on Wednesday, dragged down by strengthening American currency and relentless outflow of foreign funds. Forex traders said a downward trend in domestic equity markets and elevated level of crude oil prices prevented a recovery in the Indian currency. At the interbank foreign exchange, the rupee opened 1 paisa higher at 84.07 against the greenback and traded on a flat note in early deals. On Tuesday, the rupee settled 1 paisa lower at 84.08 against the US dollar. The local currency has been struggling to recover since October 11, when it closed at its lowest level of 84.10 against the dollar. According to analysts, the rupee has been under pressure due to the continuous selling of Indian equities by FIIs in pursuit of better gains from the Chinese market. Also, they said, a surge in the US treasury yields raised concerns that the Federal Reserve may slowdown its rate cut move, steerin

Rupee turns flat at 84.07 against US dollar on foreign fund outflow

The rupee stayed flat at 84.07 against the US dollar in early trade on Tuesday as positive sentiment in domestic equity markets was negated by the unabated outflow of foreign funds. The local unit resisted the fall on the back of the retreating dollar and a downward movement in the crude oil prices, forex traders said. At the interbank foreign exchange, the rupee opened at 84.07 against the greenback and traded on a flat note in early deals. On Monday, the rupee settled flat at 84.07 against the US dollar, a tad higher from its all-time low of 84.10 recorded on October 11. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04 per cent to 103.79. Brent crude, the international benchmark, declined 0.22 per cent to USD 74.13 per barrel in futures trade. On the domestic equity market front, Sensex rose 180.46 points, or 0.22 per cent, to 81,331.73 points. The Nifty also advanced 61.25 points, or 0.25 per cent, to 24,842.35

Indian Rupee faces slow grind lower on oil and China rotation risks

Barclays Plc. points to record-high gold prices, a stronger dollar, and increased risk aversion as reasons why the central bank may allow the rupee to decline

Rupee slips 1 paisa to 84.07 against US dollar during early trade

The rupee slipped 1 paisa to 84.07 against the US dollar in early trade on Friday, as the weakening American currency failed to support the local unit amid negative domestic equity markets and higher crude oil prices. Forex traders said the unabated outflow of foreign funds also weighed on the domestic unit. At the interbank foreign exchange, the rupee opened flat at 84.06 against the greenback and lost further to 84.07, trading 1 paisa lower from its previous close. On Thursday, the rupee weakened by 4 paise to close at 84.06 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down by 0.11 per cent to 103.53 points. Negative dollar index was attributed to the fresh indication by Chinese central bank to reduce reserve ratio required for the country's lenders by the end of this year, which is expected to give further boost to the world's second largest economy. Brent crude, the international benchmark, .

Rupee pegged back by higher US yields; hopes of RBI intervention counters

Choppy oil prices, foreign investors taking out money in lieu of the China stimulus, higher US yields and the dollar has pushed back the rupee by just 0.3 per cent month-to-date

Rupee drops to lifetime low of 84.07 on high dollar demand by foreign banks

The rupee has remained under pressure this month due to sustained outflows from local equities

Rupee weakens below 84 against US dollar amid FPI selloff, costlier oil

Took two years after hitting 83/$ due to timely intervention

Rupee rises 1 paisa to 83.95 against US dollar during early trade

The rupee rose 1 paisa to 83.95 against the US dollar in early trade on Thursday amid a firm trend in domestic equity markets and a weaker greenback against major overseas rivals. However, an increase in global oil prices and heavy foreign fund outflows capped further recovery in the domestic currency, according to forex experts. At the interbank foreign exchange, the rupee opened at 83.95, marginally up by 1 paisa against the US dollar, and traded almost flat in early deals. The local unit had settled at 83.96 against the greenback on Wednesday. The Reserve Bank of India's (RBI) decision to keep policy rates unchanged also played a part in the rupee's range-bound movement. The RBI on Wednesday kept the policy rate unchanged for the tenth time in a row but shifted its stance from "withdrawal of accommodation" to "neutral" that may lead to a cut in the forthcoming policies. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was d

Rupee rises 5 paise to 83.92 against US dollar during early trade

The rupee appreciated 5 paise to 83.92 against the US dollar in early trade on Wednesday, ahead of the Reserve Bank of India's monetary policy announcement. Forex traders said the spotlight is firmly on the RBI as it prepares to announce its monetary policy. Most major central banks have pivoted toward rate cuts, with the US Fed being the latest to lower rates by 50 basis points. The RBI has maintained its accommodative stance. All attention now shifts to whether the central bank will move from its accommodative stance to a more neutral approach. At the interbank foreign exchange market, the local unit opened at 83.92 against the American currency, registering a rise of 5 paise over its previous close. On Tuesday, the rupee rose 3 paise to close at 83.97 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was up 0.03 per cent to 102.58 points. Brent crude, the international benchmark, was trading higher by 0.40 per ce

Rupee rises 6 paise to 83.94 against US dollar during early trade

The rupee rose 6 paise to 83.94 against the US dollar in early trade on Tuesday supported by a weaker greenback and lower crude oil price. However, volatility in the domestic equity markets and FII outflows capped sharp gains in the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 83.97 against the US dollar and rose to 83.92 before slipping marginally to 83.94, higher by 6 paise from its previous close. The domestic unit had settled at 84.00 on Monday. The reconstituted rate-setting panel of the Reserve Bank of India (RBI) on Monday started deliberations on the next bi-monthly monetary policy. The decision of the panel will be announced on Wednesday, which could determine the movement in the rupee over the next few days. In the current context, experts feel that the RBI may not follow the US Federal Reserve, which lowered the benchmark rates by 50 basis points, and the central banks of some developed nations, which have reduced the interest