Page 33 - Rupee Vs Dollar

Rupee up 5 paise from all-time low to 83.65 against dollar in early trade

The rupee recovered from its all-time low level and appreciated by 5 paise to 83.65 against the US dollar in early trade on Monday, as the American currency retreated from its elevated level. Forex traders said foreign fund inflows and possible intervention by the Reserve Bank of India (RBI) supported the rupee at lower levels and restricted the downfall. At the interbank foreign exchange market, the local unit opened at 83.66, and touched an early high of 83.65, registering a gain of 5 paise from its previous close. On Friday, the rupee depreciated 7 paise to settle at its all-time low of 83.70 against the US dollar. "A weakening dollar -- prompted by shifts in the macroeconomic landscape and emerging cracks in US economic data -- caused the dollar index to dip to 104. This scenario saw emerging market currencies rising against the dollar," CR Forex Advisors MD Amit Pabari said. However, despite these rupee-supporting factors, the Indian currency hasn't appreciated significantly,

Rupee settles at fresh closing low of 83.66 against the US dollar

Market participants said that the Reserve Bank of India intervened in the foreign exchange market via dollar sales, which prevented the rupee from further depreciation

Rupee trades flat at 83.53 against US dollar during early session

The rupee traded flat at 83.53 against the US currency in early trade on Friday amid firm crude oil prices and gains in domestic stocks. At the interbank foreign exchange market, the rupee opened flat at 83.53 against the US dollar. The local unit moved in a tight range of 83.50 to 83.54 in morning deals. The rupee was trading flat at 83.53 against the US dollar at 0935 hrs. Forex dealers said the impact of firm crude oil prices was offset by overnight losses in the US dollar index and early gains in the domestic equity markets. The US dollar index eased on Thursday after softer US inflation data raised hopes of rate cut by the US Fed by September. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 104.49. Brent crude futures, the global oil benchmark, were trading 0.20 per cent higher at USD 85.60 per barrel. Domestic equity markets were trading higher in early session on Friday. Benchmark Se

Rupee appreciates 2 paise to 83.49 against US dollar in early trade

The rupee traded in a narrow range and appreciated 2 paise to 83.49 against the US dollar in early trade on Thursday, as a positive trend in domestic equities supported the local unit, while elevated crude oil prices weighed on investor sentiments. At the interbank foreign exchange market, the local unit opened at 83.49, registering a rise of 2 paise from its previous close. On Wednesday, the rupee stayed range-bound and settled 2 paise lower at 83.51 against the US dollar. "Persistent demand for the dollar from local importers has capped the rupee's potential gains, yet its outlook remains optimistic, buoyed by recent positive economic indicators," CR Forex Advisors MD-Amit Pabari said. Pabari further said the rupee's outlook is supported by strong foreign inflows, a positive economic forecast, and India's impressive macroeconomic growth, currently the fastest among large economies. The Reserve Bank of India (RBI) appears determined to prevent the rupee from depreciating below 83

Rupee trades flat at 83.49 against US dollar during early session

The rupee traded flat at 83.49 against the US currency in the early session on Tuesday amid losses in domestic equities and easing crude oil prices. At the interbank foreign exchange market, the rupee opened flat at 83.49 against the US dollar. The local currency moved in a restricted range of 83.49 to 83.50 against the greenback in early trade. The rupee had edged up 1 paisa to close at 83.49 against the US dollar on Monday ahead of the key testimony of US Federal Reserve Chair Jerome Powell in front of Congress. Powell's testimony offered little new guidance on the US central bank's plans for when it might cut interest rates. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, eased 0.03 per cent from overnight high levels to 105.09. Brent crude, the global oil benchmark, declined 0.26 per cent to USD 84.44 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex dropped by 143.15 points or 0.18 per c

Rupee rises 5 paise to 83.45 against US dollar during early trade

The rupee appreciated 5 paise to 83.45 against the US dollar in early trade on Friday, as the American currency retreated from its elevated levels and was supported by significant foreign fund inflows. At the interbank foreign exchange market, the local unit opened at 83.48 and gained further to 83.45 against the greenback, registering a rise of 5 paise from its previous close. On Thursday, the rupee pared its initial losses and settled for the day on an almost flat note at 83.50 against the US dollar. Forex traders said rising crude oil prices weighed on investor sentiments and restricted the upside. Brent crude futures, the global oil benchmark, declined 0.37 per cent to USD 87.11 per barrel. "The pressure stems from oil marketing companies purchasing crude in anticipation of further price hikes, with Brent oil hovering around USD 87 per barrel. Additionally, it appears the Reserve Bank of India (RBI) is managing the rupee's volatility, capping both its upward and downward ...

Rupee falls 5 paise to 83.53 against US dollar during early trade

The rupee depreciated 5 paise to 83.53 against the US dollar in early trade on Wednesday, weighed down by the strong American currency and elevated crude oil prices. Forex traders said the rupee is trading in a narrow range as US dollar buying by oil companies and Foreign Portfolio Investors (FPIs) further dented investor sentiment, while a firm trend in domestic equities supported the rupee at lower levels. At the interbank foreign exchange market, the rupee opened at 83.51 and lost further ground to trade at 83.53 against the greenback in initial deals, registering a fall of 5 paise from its previous closing level. On Tuesday, the rupee depreciated 4 paise to settle at 83.48 against the US dollar. "... Global factors such as the elevated US DXY around 105.50, the depreciation of the Yen and Yuan, and the rise in US bond yields have prevented the rupee from gaining significant strength and moving away from its multi-month low," CR Forex Advisors MD Amit Pabari said. Rupee traders

Rupee falls 12 paise to 83.56 against US dollar during early trade

The rupee depreciated 12 paise to 83.56 against the US dollar in early trade on Tuesday, weighed down by the strengthening of the American currency in the overseas markets and elevated crude oil prices. Forex traders said oil importers and foreign portfolio investors (FPIs) bought US dollars amid rising US yields, and this dragged down the local unit. At the interbank foreign exchange market, the rupee opened at 83.51 and lost further ground to trade at 83.56 against the greenback in initial deals, registering a fall of 12 paise from its previous closing level. On Monday, the rupee depreciated 10 paise to settle at 83.44 against the US dollar. The rupee had dollar inflows and rose to 83.37 on Monday, but was sold-off to 83.44 levels, as oil and FPIs bought dollars looking at rising US yields, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. On Tuesday, rupee is likely to touch 83.55 before cooling off to 83.45, Bhansali said, adding t

Rupee falls 9 paise to 83.43 against US dollar during early trade

The rupee depreciated 9 paise to 83.43 against the US dollar in early trade on Monday amid rising crude oil prices and outflow of foreign capital. The domestic unit, however, found support due to a softening American currency and positive equity market sentiment, forex traders said. At the interbank foreign exchange market, the local unit opened at 83.39 and lost further ground to trade at 83.43 against the greenback in initial deals, registering a fall of 9 paise from its previous closing level. On Friday, the rupee settled 11 paise higher at 83.34 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 105.30, lower by 0.23 per cent. "The US dollar eased slightly on Friday after data showed inflation subsided, reinforcing expectations of Federal Reserve rate cuts this year," said Anand James, Chief Market Strategist, Geojit Financial Services. Brent crude futures, the global oil benchmark, adva

Rupee appreciates 8 paise to 83.49 against US dollar in early trade

The rupee appreciated 8 paise to 83.49 against the US dollar in early trade on Thursday, as crude oil prices retreated from their elevated levels. Forex traders said the strength of the American currency in the overseas market and foreign fund outflows weighed on the local unit and restricted the upmove. At the interbank foreign exchange market, the local unit opened at 83.56 and gained further ground to trade at 83.49 against the greenback in initial deals, registering an increase of 8 paise from its previous closing level. On Wednesday, the rupee depreciated 14 paise against the US dollar and settled at 83.57. "Stronger fundamentals such as stable inflation, accelerated economic growth, higher business activity, and a controlled Current Account Deficit offer a counterbalance supporting the rupee. Additionally, continuous RBI intervention has also helped prevent significant rupee depreciation," CR Forex Advisors MD Amit Pabari said. Meanwhile, the dollar index, which gauges the .

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

Rupee weakens amid dollar bids related to expiry of currency futures

Asian peers dipped, weighed by concerns that US interest rates could remain high for longer

Rupee sees range-bound trade against US dollar during morning deals

The rupee witnessed range-bound trading against the US dollar in early trade on Monday, amid a negative trend in the domestic equity market. Forex traders said the strength of the American currency in the overseas market and elevated crude oil prices also weighed on the local unit and restricted the upmove. At the interbank foreign exchange market, the local unit opened at 83.52 and gained further to trade at 83.45 against the greenback in initial deals, registering an increase of 12 paise from its previous closing level. On Friday, the rupee hit the lowest level of 83.63 but finally settled at 83.57 against the dollar, registering a gain of 4 paise from its previous close. "Price action on Friday seemed to indicate purposeful intervention by the central bank," IFA Global said in a research note, adding that the rupee is likely to trade in 83.40-83.67 range with sideways price action. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six ...

Rupee recovers 3 paise to 83.58 against US dollar during early trade

The rupee recovered from previous day's steep fall and traded 3 paise higher at 83.58 against the US dollar in early trade on Friday on the back of sustained inflow of foreign capital and strong domestic equity market sentiment. Forex traders said the local unit found support from retreating American currency and easing crude oil prices overseas. At the interbank foreign exchange, the local unit opened at 83.60 and gained further to 83.58 against the greenback, registering a rise of 3 paise from its previous close. On Thursday, the rupee had plunged 17 paise to hit its over two-month low level of 83.61 against the dollar. The domestic currency recorded its previous lowest closing level of 83.61 on April 16 this year. Anand James, Chief Market Strategist, Geojit Financial Services, said the rupee's sharp decline was "partly triggered by significant block deals worth Rs 23,000 crore" a day earlier when Vodafone Idea also sold its 18 per cent stake in Indus Towers for Rs 15,300 crore.

Going downhill: Rupee hits new low on importer demand, corporate outflows

Some market participants said that the RBI intervened in the foreign exchange market by dollar sales during the last hour of trade, which reversed some losses

Rupee depreciates 4 paise to 83.48 against US dollar in early trade

The rupee fell 4 paise to 83.48 against the US dollar on Thursday due to firm American currency and an upward trend in crude oil prices overseas. The local unit resisted the fall amid the unabated inflow of foreign capital but gave in to the pressure due to a muted trend in the domestic equity markets, forex traders said. At the interbank foreign exchange market, the local unit opened at 83.43 and lost further to 83.48 against the greenback, registering a fall of 4 paise from its previous close. On Wednesday, the rupee settled 1 paisa lower at 83.44 against the US dollar. "The local currency's upward momentum was halted by a strong US dollar and rising crude oil prices in the international market," said Anand James, Chief Market Strategist, Geojit Financial Services. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.02 per cent at 104.90. Brent crude futures, the global oil benchmark, advanced 0.02 per c

Rupee appreciates 6 paise to 83.37 against US dollar in early trade

The rupee stayed on the upward track for the second straight session and appreciated 6 paise to 83.37 against the US dollar in early trade on Wednesday boosted by sustained inflow of foreign capital and firm equity markets. The local unit, however, faced resistance due to a stronger American currency and higher crude oil prices overseas, forex traders said. At the interbank foreign exchange market, the local unit opened strong at 83.39 and gained further to 83.34 against the greenback in initial deals. It later traded at 83.37 against the American currency, registering a rise of 6 paise from its previous close. On Tuesday, the rupee had settled 12 paise higher at 83.43 against the US dollar. 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 at 104.90. Analysts said the dollar index fell initially as the US data showed the growth in retail sales was lower than expected, though the ..

Rupee appreciates 7 paise to 83.48 against US dollar in early trade

The rupee appreciated 7 paise to 83.48 against the US dollar in early trade on Tuesday amid a fresh inflow of foreign capital and positive sentiment in the domestic equity markets. Forex traders said the strengthening American currency weighed on the local unit though it found support due to downward movement in crude oil prices overseas. At the interbank foreign exchange market, the local unit opened at 83.52 and gained further to 83.48 against the greenback, registering a rise of 7 paise from its previous close. On Friday, the rupee settled 1 paisa lower at 83.55 against the US dollar. Forex markets were closed on Monday on account of Bakri Id. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 105.01, higher by 0.07 per cent. Brent crude futures, the global oil benchmark, declined 0.13 per cent to USD 84.14 per barrel. On the domestic equity market, the 30-share BSE Sensex rose 175.72 points, or 0.23 per cent,

Rupee depreciates 6 paise to 83.54 against US dollar in early trade

The rupee depreciated 6 paise to 83.54 against the US dollar on Thursday, weighed down by the broad strength of the American currency in the overseas market and elevated crude oil prices. Forex traders said the local unit also faced some resistance owing to subdued macroeconomic data on the domestic front. At the interbank foreign exchange market, the local unit opened at 83.52 and lost further ground to trade at 83.54 against the greenback, registering a loss of 6 paise from its previous closing level. On Wednesday, the rupee appreciated 11 paise to close at 83.48 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.78, higher by 0.14 per cent. Brent crude futures, the global oil benchmark, declined 0.34 per cent to USD 82.32 per barrel. According to CR Forex Advisors MD Amit Pabari, declining US CPI with the Fed initiating the rate cut in 2024 and overall strong economic fundamentals of the Indian

Rupee appreciates 5 paise to 83.54 against US dollar in early trade

The rupee appreciated 5 paise to 83.54 against the US dollar in early trade on Wednesday, boosted by positive sentiments in the domestic equity market. Forex traders said rupee is trading in a narrow range as all eyes are on the US May CPI print and the Fed rate decision on the global front and India's Consumer Price Index (CPI) on the domestic front. Moreover, the strength of the American currency in the overseas market and elevated crude oil prices weighed on the local unit and restricted the upmove. At the interbank foreign exchange market, the local unit opened at 83.56 and gained further to trade at 83.54 against the greenback in initial deals, registering an increase of 5 paise from its previous closing level. On Tuesday, the rupee settled for the day lower by 9 paise at 83.59 against the US dollar. "The Indian rupee has remained steady despite a strengthening US Dollar driven by rising US bond yields and diminished expectations of Fed rate cuts following robust US employmen