Page 37 - Rupee Vs Dollar

Rupee registers marginal decline to 83.01 against US dollar in early trade

The rupee declined marginally to 83.01 against the US dollar in early trade on Tuesday amid a muted trend in domestic equities. A stronger American currency and elevated crude oil prices also dented sentiments. At the interbank foreign exchange, the rupee opened at 83.00 against the dollar, and touched an early high of 82.98 and a low of 83.01 in initial trade. On Monday, the rupee appreciated 7 paise to close at 83.00 against the US dollar. Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, said the rupee is expected to remain range bound with a narrow range of 82.95 to 83.05. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent higher at 104.23. Brent crude futures, the global oil benchmark, rose 0.09 per cent to USD 82.07 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 67.81 points or 0.10 per cent lower at 71,004.68 points. The broader NS

Rupee rises 7 paise to close at 83 against dollar on easing crude prices

The rupee appreciated 7 paise to close at 83 (provisional) against the US dollar on Monday, on softness in the American currency and easing crude oil prices. However, weak domestic markets and foreign fund outflows capped sharp gains, forex traders said. At the interbank foreign exchange market, the local unit opened at 83.01 against the greenback. The unit hit an intra-day high of 82.98 and a low of 83.02. The local unit finally settled at 83 (provisional) against the dollar, higher by 7 paise from its previous close of 83.07. "We expect the rupee to trade with a slight positive bias, positive global equities and a slight correction in the greenback. "However, any bounce back in crude oil prices amid ongoing geopolitical tensions in the Middle East and selling pressure from foreign investors may weigh on the rupee at higher levels," said Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas. Traders may take cues from India's CPI and IIP data. "Headline inflation is expect

Rupee appreciates 2 paise to 83.03 against US dollar in early trade

The rupee appreciated 2 paise to 83.03 against the US dollar in early trade on Wednesday supported by positive domestic equities. Moreover, the weakness of the American currency in the overseas market also aided sentiments. At the interbank foreign exchange, the rupee opened at 83.03 against the dollar, registering a gain of 2 paise over its previous close. On Tuesday, the rupee declined marginally by 2 paise to close at 83.05 against the US dollar. Forex traders said the rupee is trading in a narrow range as factors such as capital inflows and stable domestic economic data supported sentiments, while hawkish FED, strong US data and global tensions weighed on the local unit. Moreover, investors were cautious as the Reserve Bank's monetary policy committee (MPC), the six-member rate-setting panel, began the deliberation on Tuesday. The central bank will announce the key interest rate decision on Thursday. Meanwhile, the dollar index, which gauges the greenback's strength against a

Rupee to gain slightly this year amid continued RBI intervention: Report

The RBI is still widely expected to cut rates later this year, but at a much slower pace than the Fed, so relative rupee strength may linger

Amid volatile oil prices, rupee turns flat at 83.03 against US dollar

The rupee stayed flat at 83.03 against the US dollar in early trade on Tuesday amid volatile crude oil prices in the overseas market. The Indian currency, however, found support from positive sentiment in the domestic equity markets and sustained inflow of foreign funds, forex traders said. They also said investors are expected to move cautiously ahead of the Reserve Bank's monetary policy committee (MPC) meeting. The six-member rate-setting panel of the central bank will begin the deliberation on Tuesday and announce the outcome on Thursday. At the interbank foreign exchange, the rupee opened at 83.03 against the dollar and slipped to 83.04 before retaining the previous day's closing level of 83.03 against the greenback. The rupee settled 5 paise lower at 83.03 against the dollar on Monday. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally lower by 0.04 per cent at 104.28. Analysts attributed the higher

Rupee depreciates 4 paise to 83.02 against US dollar in early trade

The rupee depreciated 4 paise to 83.02 against the US dollar in early trade on Monday, tracking a strong American currency and rising crude oil prices in the international market. However, positive cues from the domestic equity markets and inflow of foreign funds supported the Indian currency, forex traders said. Investors will also keep a close watch on the Reserve Bank's monetary policy decision to be announced later this week, they said. At the interbank foreign exchange, the rupee opened at 83.03 against the dollar and touched a low of 83.04 before gaining marginally to trade at 83.02, down 4 paise over its previous close. The rupee settled flat at 82.98 against the dollar on Friday, a day after rising 6 paise on the day of the Union interim budget in which the government hinted at faster fiscal consolidation and lower borrowings in the next fiscal year. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.11 per

Supported by equities, rupee appreciates 16 p to 82.82 against US dollar

The rupee appreciated 16 paise to 82.82 against the US dollar in early trade on Friday supported by positive domestic equities, as the interim budget focused on higher capex and faster fiscal consolidation. Forex traders said the interim budget had a positive impact on the domestic currency as it highlighted a reduction in the fiscal deficit to 5.1 per cent of GDP for FY25. Moreover, the weakness of the American currency in the overseas market also boosted sentiments. At the interbank foreign exchange, the rupee opened at 82.91 against the dollar and then touched a high of 82.82, registering a gain of 16 paise over its previous close. The rupee appreciated by 6 paise to close at 82.98 against the US dollar on Thursday after the government hinted at faster fiscal consolidation and lower borrowings in interim budget for 2024-25. Finance Minister Nirmala Sitharaman on Thursday hiked capital expenditure by 11 per cent for the next fiscal to sustain a world-beating economic growth rate

Rupee appreciates 9 paise to 82.95 against US dollar ahead of Budget

The rupee appreciated 9 paise to 82.95 against the US dollar in early trade on Thursday as market participants remained cautious ahead of the interim Budget. Forex traders said the rupee was trading in a narrow range as the strength of the American currency in the overseas market and a muted trend in domestic equities weighed on investor sentiments. At the interbank foreign exchange, the rupee opened at 83.02 against the dollar and then touched a high of 82.95, registering a gain of 9 paise over its previous close. In initial trade, the rupee also touched a low of 83.03 against the American currency. On Wednesday, the rupee appreciated 6 paise to 83.04 against the US dollar. Forex traders said rupee traded in a narrow range and market participants remained cautious ahead of the interim Budget. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.24 per cent higher at 103.52. Brent crude futures, the global oil benchmark, fell

Rupee expected to weaken as odds of Fed rate cut in March diminish

The rupee's intraday range in the last four sessions has been just 2 to 6 paisa

Rupee trades in narrow range against US dollar due to rising crude prices

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.15 per cent lower at 103.45

Rupee depreciates 4 paise to 83.15 against US dollar in early trade

The rupee depreciated 4 paise to 83.15 against the US dollar in the morning session on Monday, amid elevated crude oil prices and dollar demand from importers. Forex traders said the rupee is trading in a narrow range as the support from positive domestic equities was negated by foreign fund outflows. At the interbank foreign exchange, the rupee opened at 83.14 against the dollar, then fell to 83.15, registering a decline of 4 paise from its previous close. On Thursday, the rupee rose 1 paisa in a range-bound trade to close at 83.11 against the US dollar. Forex market was closed on Friday on account of Republic Day. "The rupee looks to be in a range in today's trading session as the market awaits for the US Federal Reserve interest rate decision in the week," Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, said. Meanwhile, brent crude futures, the global oil benchmark, was trading higher 0.47 per cent at USD 83.94 per barrel. "Oil p

Taking the lead: Rupee best-performing Asian currency so far in January

Market participants expect rupee to appreciate further in the current calendar year

Rupee to appreciate to 82 per dollar in CY24, predicts CareEdge Ratings

The rupee settled at Rs 83.12 per Dollar on Wednesday. It moved in a narrow range of Rs 83.07 per Dollar to Rs 83.17 a Dollar in the current week as the RBI and oil companies continue to absorb inflow

Rupee trades narrow, settles 2 paise higher at 83.13 against dollar

The rupee stayed range-bound and settled 2 paise (provisional) higher at 83.13 against the US dollar on Wednesday. Forex traders said the rupee is trading in a narrow range as positive domestic markets and a soft US dollar supported the rupee while rising crude oil prices and foreign fund outflows capped gains. At the interbank foreign exchange market, the local unit opened at 83.15 against the greenback. The unit oscillated between an intraday low of 83.16 and a high of 83.11 against the greenback and finally settled at 83.13 against the dollar, higher by 2 paise (provisional) from its previous close. On Tuesday, the rupee had settled at 83.15 against the US dollar. "We expect the rupee to trade with a slight positive bias as the US Dollar has softened ahead of PMI data and gains in the Japanese Yen. Markets expect PMI data to be better than the previous month's reading. However, concerns over the Red Sea region and elevated crude oil prices may cap the sharp upside," said Anuj ..

Rupee depreciates 6 paise to 83.13 against US dollar in early trade

The rupee depreciated 6 paise to 83.13 against the US dollar in the morning session, amid elevated crude oil prices and dollar demand from importers. Forex traders said the rupee is trading in a narrow range as the support from positive domestic equities was negated by foreign fund outflows. At the interbank foreign exchange, the rupee opened at 83.11 against the dollar, then fell to 83.13, registering a fall of 6 paise from its previous close. In the initial trade, the rupee also touched an early high of 83.09 against the US dollar. On Friday, the rupee settled at 83.07 against the US dollar. Meanwhile, Brent crude futures, the global oil benchmark, was trading lower by 0.03 per cent to USD 80.04 per barrel. "Brent oil crossed USD 80 per barrel after strong gains on supply concerns due to disruptions in the US and Russia triggered strong gains while caution before central bank meetings also kept prices muted," said Anil Kumar Bhansali, Head of Treasury and Executive Director Fin

Rupee depreciates 1 paisa to 83.14 against US dollar in early trade

The rupee fell 1 paisa to 83.14 against the US dollar in early trade on Friday amid heavy selling of equities by Foreign Institutional Investors (FIIs). Forex traders said positive cues from domestic equity markets and lower level of dollar provided support to the Indian currency. At the interbank foreign exchange, the domestic currency opened at 83.15, then slipped to 83.16 before trading at 83.14 against the greenback in morning deals, down 1 paisa from its previous close. On Thursday, the rupee settled 1 paisa higher at 83.13 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.19 per cent lower at 103.12 on Friday. Analysts said the dollar index retreated after the US macroeconomic data reflected steady growth in the country, trimming financial markets' expectations of reducing interest rate by the Federal Reserve. Brent crude futures, the global oil benchmark, declined 0.27 per cent to USD

Rupee ends flat, wedged between Asia FX bump, foreign banks' dollar buys

The rupee closed at 83.1225 against the U.S. dollar, barely changed from its close at 83.1375 in the previous session

Rupee depriciates 1 paisa to 83.15 against US dollar in early trade

The rupee slipped 1 paisa to 83.15 against the US dollar in early trade on Thursday amid rising crude oil prices and withdrawal of foreign funds. Despite a weak American currency against major overseas rivals, negative sentiment in domestic equity markets kept the Indian currency under pressure, forex traders said. At the interbank foreign exchange, the domestic currency opened at 83.16 and inched up to 83.15 against the greenback in morning deals and traded at a loss of 1 paisa over its previous close. On Wednesday, the rupee settled 2 paise lower at 83.14 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.16 per cent lower at 103.04 on Thursday. Analysts said the dollar retreated after the US data released on Wednesday showed more than expected increase in retail sales, dashing financial market's hope of interest rate cut by the Federal Reserve. Brent crude futures, the global oil benchmark

Rupee down by 1 paisa at 83.13 against dollar amid domestic equity selling

Foreign Institutional Investors (FIIs) were net buyers in the equity market on Tuesday as they bought shares worth Rs 656.57 crore, according to exchange data

Rupee depreciates 3 paise to 83.15 against US dollar in early trade

The rupee depreciated 3 paise to 83.15 against the US dollar on Wednesday, tracking a strong greenback against major rivals overseas and massive selling in domestic equity markets. However, inflow of foreign funds in domestic equity markets and softening crude oil prices in the international markets resisted a steep fall in the domestic currency, forex traders said. At the interbank foreign exchange, the domestic currency opened at 83.13 and slipped further to 83.15 against the dollar, registering a loss of 3 paise from its previous close. On Tuesday, the rupee declined 26 paise to settle at 83.12 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.08 per cent higher at 103.19 on Wednesday. Analysts attributed unabated gains in the US dollar to safe-haven demands amid concern over disruption in global trade through the Red Sea route. Brent crude futures, the global oil benchmark, declined 0.47