Page 32 - Rupee Vs Dollar

Rupee rises 7 paise to 83.82 against US dollar during early trade

Rupee appreciated 7 paise to 83.82 against the US dollar in morning trade on Friday, supported by significant foreign fund inflows and a positive trend in domestic equities. Forex traders said a rise in global risk sentiments supported the rupee, while recovery in the US dollar and month-end dollar demand from importers and oil marketing companies (OMCs) weighed on investor sentiments. At the interbank foreign exchange market, the local unit opened at 83.83, then gained ground to touch 83.82, registering a rise of 7 paise from its previous close. On Thursday, the rupee appreciated 8 paise to close at 83.89 against the American currency. According to forex traders, MSCI rebalancing flows could take the rupee higher. "Some appreciation in the rupee appears likely, with anticipated MSCI inflows of around USD 3 billion. The rupee is likely to trade within a range of 83.75 to 83.90, while in the medium-term, a range of 83.60 to 84.05 is anticipated, with a bias towards the upside," CR

Rupee appreciates 9 paise to 83.88 against US dollar in early trade

Rupee appreciated 9 paise to 83.88 against the US dollar in morning trade on Thursday, supported by the weakness of the American currency in the overseas market and a positive trend in domestic equities. Forex traders said market is awaiting cues from the US GDP and the US Personal Consumption Expenditure (PCE) inflation data, as this data point is crucial as it could sway the Federal Reserve's decision on whether to implement a 25 or 50 basis point rate cut at its September meeting. At the interbank foreign exchange market, the local unit opened at 83.92, then gained ground to touch 83.88, registering a rise of 9 paise from its previous close. On Wednesday, the rupee depreciated 4 paise to close at 83.97 against the American currency. "The rupee is in the midst of a tug-of-war between positive and negative factors. With the Reserve Bank firmly in control, the rupee is expected to trade within a narrow range in the near term, with the upside likely capped around 83.80 and strong ..

Rupee falls 8 paise to 83.95 against US dollar during early trade

Rupee depreciated 8 paise to 83.95 against the US dollar in morning trade on Tuesday, weighed down by elevated crude oil prices and a muted trend in domestic equities. Forex traders said Brent Crude, the international benchmark, was trading above the USD 80 per barrel mark, as fighting continued in the Middle East and attacks by Russia over Ukraine also increased geopolitical tensions. At the interbank foreign exchange market, the local unit opened at 83.91, then lost further ground and touched 83.95, registering a loss of 8 paise from its previous close. On Monday, the Indian rupee settled for the day 3 paise higher at 83.87 against the American currency. Asian currencies fell after appreciating on Monday. The Indian rupee opened at 83.91 and is expected to trade in a small range of 83.85/95, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. According to CR Forex Advisors' Amit Pabari with the Reserve Bank firmly in control, the rupee

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 ends on flat note, closes 1 paisa higher at 83.90 against US dollar

The rupee closed at 83.90 against the US dollar, nearly unchanged from its close at 83.89 in the previous session. The currency hit a peak of 83.81 in early trading

Rupee depreciates by 7 paise to 83.84 against US dollar in early trade

The Indian rupee depreciated by 7 paise to 83.84 against the US dollar in early trade on Wednesday, tracking subdued domestic equity market trend and unabated outflow of foreign capital. A weak American currency and lower crude prices, however, supported the local unit and prevented its sharp fall, forex traders said. At the interbank foreign exchange, the rupee opened weak at 83.79 and lost further to 83.84 against the greenback, declining 7 paise from its previous days' closing level of 83.77. The rupee settled 10 paise higher at 83.77 against the American currency on Tuesday, a day after gaining 8 paise. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally higher by 0.02 per cent to 101.31. Analysts said the dollar index is at seven-month low level amid concerns over upcoming PMI data from the US and Federal Reserve Chair Jerome Powell's speech at Jackson Hole Symposium later this week. Brent crude, the g

Rupee turns flat at 83.87 against US dollar in today's early trade

The Indian rupee pared its initial gains and turned flat at 83.87 against the US dollar in early trade on Tuesday, as positive domestic equity markets and a weak American currency was negated by the outflow of foreign capital. Forex traders said softening crude oil prices supported the local unit and prevented its fall. At the interbank foreign exchange, the rupee opened at 83.86 against the greenback, inched up to 83.84 before trading again at its previous session's closing level of 83.87 against the dollar. On Monday, the rupee settled 8 paise higher at 83.87 against the American currency. Over the past holiday-shortened week, the rupee showed minimal fluctuation and narrowly steered clear of the critical of 84-mark. Investors are expected to remain cautious ahead of PMI data from the US and Federal Reserve Chair Jerome Powell's speech at Jackson Hole Symposium for any cues on rate cuts by the central bank. Meanwhile, the dollar index, which gauges the greenback's strength aga

Rupee expected to underperform regional peers amid dollar's slide

The upbeat risk mood has been another factor cited for the slump in the safe haven dollar

Rupee rises 11 paise to 83.84 against US dollar during early trade

The Indian rupee appreciated 11 paise to 83.84 against the US dollar in early trade on Monday, mirroring a positive momentum in domestic equities and fresh foreign fund inflows. Forex traders said the weakening of the American currency in the overseas market and retreating crude oil prices also supported investor sentiments. At the interbank foreign exchange, the rupee opened at 83.88 against the greenback, then gained ground and touched 83.84, registering a gain of 11 paise over its previous close. On Friday, the rupee moved in a tight range and settled just 1 paisa lower at 83.95 against the American currency. Over the past shortened week, the rupee showed minimal fluctuation and narrowly steered clear of the critical 84 mark. "The rupee emerged as the least volatile among its peer currencies, a testament to the RBI's decisive actions, which were further reflected in the nearly USD 5 billion dip in India's forex reserves from the record high of USD 675 billion," CR Forex Advisor

Rupee slips to record closing low of 83.9725 as Asian currencies weaken

The rupee closed at 83.9725 against the US dollar, after closing at 83.9550 in the previous session. The currency hovered in a narrow range between 83.95 and 83.97 during the session

Rupee flat, forward premiums dip as focus shifts to US inflation data

The rupee has struggled over the last two weeks amid outflows from local stocks

RBI expected to step up intervention if the rupee touches 84 level

Indian currency tested a series of record lows in recent days but stopped short of crossing that key level

Rupee weakens to new intra-day low as investors exited from carry trades

Market participants said that the RBI asked some banks to refrain from speculative trading against the rupee

Rupee at new low of 83.85 against US dollar, bonds gain on global cues

Market participants said that the local currency might gradually depreciate to Rs. 84 per dollar in near term

Rupee slips to all-time low of 83.80 against US dollar in early trade

Rupee opened on a muted note and fell to an all-time low of 83.80 against the US dollar on Monday, as the risk off situation in world markets kept the dollar well bid. Forex traders said the sharp downfall in the domestic unit came on the heels of a significant downturn in the Indian equity markets and significant foreign fund outflows. At the interbank foreign exchange market, the local unit opened at 83.78 and then fell to an all-time low of 83.80 against the American currency, registering a fall of 8 paise from its previous close. On Friday, the rupee settled 1 paisa higher at 83.72 against the US dollar in a range-bound trade. Over the past week, major global equities experienced a significant sell-off. The release of last week's US Jobs Report, which fell significantly below expectations, sparked recession fears in the market, increasing demand for safe-haven assets. Additionally, the upcoming US elections in November are likely to keep investors on edge. Meanwhile, tensions

RBI intervenes as rupee falls to new low; hits 83.76 against US dollar

The rupee settled at Rs 83.75 per dollar, against Rs 83.73 per dollar on Thursday

Global stock sell-off on slowdown concern pushes Indian rupee to record low

Investor sentiment soured after weaker-than-expected US factory data prompted growth concerns while tensions about a widening conflict in the Middle East weighed

Rupee rises 2 paise to 83.71 against US dollar during early trade

The rupee rose 2 paise to 83.71 against the US currency in early trade on Wednesday following a marginal dip in the dollar in overseas markets. At the interbank currency exchange, the domestic currency opened at 83.72, 1 paisa higher than the previous day's close. The domestic unit moved in the tight range of 83.70-83.72 in early trade. Forex traders said the rise in Brent crude oil prices offset the rupee's gains following the decline in dollar rates overseas. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.19 per cent to 104.36. Brent crude futures -- the global oil benchmark -- rose 1.49 per cent to USD 79.80 per barrel. All eyes will be on the US Fed rate announcement later in the day. Expectations are ripe that the Federal Reserve might signal a rate cut as early as September. In the domestic equity market, the 30-share BSE Sensex showed volatility, rising over 200 points in early trade to reach a record high

Rupee hits a fresh low of 83.74/$ due to month-end dollar demand

In July so far, the rupee has depreciated by 0.4 per cent, against 0.1 per cent in June

Rupee rises 2 paise to 83.72 against US dollar during early trade

The rupee appreciated by 2 paise to trade at 83.72 against the US currency in the early session on Monday amid a weak dollar in the overseas markets. At the interbank foreign exchange market, the rupee opened firm at 83.70 against the US dollar. The local currency moved in a tight range of 83.70 to 83.72 in early trade. The rupee was trading at 83.72 against the US dollar at 9.30 am. Foreign fund outflows from Indian equities after the government's decision to hike the tax rate on capital gains weighed on the local currency and restricted the upmove, forex traders said. The domestic currency had recovered from its all-time low by 5 paise to settle at 83.73 against the US dollar on Friday, on the strength in domestic markets and expectations of fresh foreign inflows. In the domestic equity market, the 30-share BSE Sensex hit an all-time high, rising 355.7 points, or 0.44 per cent, to 81,688.42 in early trade on Monday. Meanwhile, the dollar index, which gauges the greenback's stre