Page 38 - Rupee Vs Dollar

Dollar up 0.47%, hits 1-month high amid tempered expectations of rate cut

Comments from European Central Bank officials downplaying the idea of early rate cuts overshadowed the outlook for borrowing costs globally

Rupee depreciates 11 paise to 82.97 against US dollar in early trade

The rupee reversed its nine-day upward movement and depreciated 11 paise to 82.97 against the US dollar in early trade on Tuesday, tracking a strong American currency against major overseas rivals and subdued equity market sentiment. Some inflow of foreign funds supported the Indian currency which was weighed down due to volatile crude oil prices, forex traders said. At the interbank foreign exchange, the domestic currency opened weak at 82.95 and slipped further to 82.97 against the greenback in initial trade, registering a loss of 11 paise from its previous close. On Monday, the rupee settled with a gain of 9 paise at 82.86 against the US dollar. This was ninth consecutive day of gain for the Indian currency. In the last nine trading sessions, the local unit added 46 paise since the level of 83.32 against the dollar recorded on January 2. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.31 per cent higher at 102

Driven by market rally, Rupee rises 6 paise to reach 82.89 against dollar

The rupee strengthened for the ninth consecutive session to settle with a gain of 6 paise to 82.89 (provisional) against the US dollar on Monday, driven by a rally in the domestic equity markets. At the interbank foreign exchange, the local currency opened at 82.82 and traded between 82.77 and 82.91 against the greenback during intra-day deals. The unit finally settled at 82.89 (provisional) against the dollar, registering a gain of 6 paise over its previous close amid a bullish trend in domestic equities, wherein benchmark indices climbed to lifetime highs. On Friday, the rupee settled with a gain of 6 paise to 82.95 against the US dollar. In the last nine trading sessions, the local unit added 48 paise since the level of 83.32 against the dollar recorded on January 2. Meanwhile, WPI rose 0.73 per cent year-on-year in December 2023 against 0.26 per cent in the previous month, but lower than the forecast of 0.9 per cent. According to official data, the wholesale price index ...

Rupee appreciates 18 paise to 82.77 against US dollar in early trade

The rupee appreciated 18 paise to 82.77 against the US dollar in early trade on Monday, supported by bullish domestic equities wherein domestic indices touched record highs. At the interbank foreign exchange, the domestic currency opened at 82.82 and touched 82.77 against the greenback in initial trade, registering a rise of 18 paise from its previous close. On Friday, the rupee strengthened for the eighth consecutive session to settle with a gain of 6 paise to 82.95 against the US dollar. The inflows are expected to continue and will the keep the pair of USDINR on the downside as a major support at 82.80 comes up. "Keep a close watch on what the Reserve Bank of India does during the day," Anil Kumar Bhansali, the Head of Treasury and Executive Director Finrex Treasury Advisors LLP, said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 102.35. Global oil benchmark Brent crude was at USD 78.54 per barrel. "Monday's US

Rupee falls 4 paise to 83.05 against US dollar; brent crude futures surge

The rupee breached its seven-day gaining streak and depreciated 4 paise to 83.05 against the US dollar in early trade on Friday as foreign investors rushed to withdraw funds amid a sharp rise in crude oil prices. Despite a weak American currency and surging equity markets, overall sentiment was dented after the US data showed inflation increased more than expected in December, dousing hopes of an interest rate cut by the Federal Reserve in the near future, according to forex analysts. They said investors will also keep a close watch on the domestic inflation numbers to be released later in the day. At the interbank foreign exchange, the domestic currency opened weak at 83.08 and lost further ground to touch 83.10 against the greenback. The unit later traded at 83.05 against the dollar, registering a loss of 4 paise from its previous close. The domestic currency settled 2 paise higher at 83.01 on Thursday. This was the seventh straight session of rise for the local unit, during whic

Rupee dwindles 4 paise, reaches 83.17 against US dollar in early trade

The rupee depreciated 4 paise to 83.17 against the US dollar in early trade on Wednesday amid selling of equities by foreign investors and an upward movement in crude oil prices. Subdued sentiment in the domestic equity markets also weighed on the Indian currency, forex traders said. At the interbank foreign exchange, the domestic currency opened at 83.13 and slipped to 83.17 against the greenback, down 4 paise from its previous close. The domestic currency settled 1 paisa higher at 83.13 on Tuesday. The range-bound movement in the Indian currency was attributed to investors' concern over upcoming inflation numbers of India as well as the US to be released this week. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.02 per cent lower at 102.26 on Wednesday. Brent crude futures, the global oil benchmark, rose 0.23 per cent to USD 77.77 per barrel. In the domestic equity market, 30-share benchmark Sensex was tradin

Rupee up 9 paise to 83.06 against US dollar backed by foreign fund inflow

The rupee appreciated 9 paise to 83.06 against the US dollar in early trade on Monday on the back of positive domestic equity markets and inflow of foreign fund. However, forex traders said a strong American currency and volatile crude oil prices weighed on the domestic currency. At the interbank foreign exchange, the domestic currency opened at 83.09, touched the level of 83.04 before trading at 83.06 against the greenback in initial deals, registering a rise of 9 paise from its previous close. On Friday, the domestic currency settled at 83.15 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.09 per cent higher at 102.22 on Monday. Brent crude futures, the global oil benchmark, declined 1.12 per cent to USD 77.88 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 73.62 points or 0.10 per cent higher at 72,099.77. The broader NSE Nifty advanced 25.85 points or 0.12 p

Rupee may rise to 81/$ by 2024 end amid robust inflow hopes: Goldman Sachs

India's external balances remain favourable, with a combination of low current account deficit, strong public market capital flows, adequate forex reserves and low external debt

Rupee trades narrowly on 2024's first day, settling at Rs 83.24 a dollar

The narrow movement can be attributed to a combination of factors, including the weakening of the dollar index, and the Reserve Bank of India's proactive measures to maintain stability

Rupee dwindles 3 paise, reaches 83.19 against US dollar in early trade

The rupee started the new year on a flat note and depreciated 3 paise to 83.19 against the US dollar in the morning session, amid a negative trend in domestic equities and dollar demand from importers. Forex traders said the rupee is trading in a narrow range as the support from easing crude oil prices was negated by the strength of the American currency in the overseas market. At the interbank foreign exchange, the rupee opened at 83.18 against the dollar, then fell to 83.19, registering a fall of 3 paise over its previous close. In the initial trade, the rupee also touched an early high of 83.15 against the US dollar. On Friday, the rupee appreciated 4 paise to settle at 83.16 against the US dollar on the last trading day of 2023. At the start of the new year, the dollar index was stable at 101.38, and Brent oil was at USD 77.07 per barrel. Asian currencies are also very stable with Yuan at 7.1253, IDR at 15,390, KRW at 1,294.53, said Anil Kumar Bhansali, Head of Treasury and ..

Rupee settles flat at 83.20 against dollar amid volatile crude oil prices

The rupee paired all its early gains to end on a flat note at 83.20 (provisional) against the US dollar amid increased month-end dollar demand from importers and volatile crude oil prices. At the interbank foreign exchange, the domestic currency opened at 83.14, touched the peak of 83.10 and hit the lowest level of 83.22 against the greenback during intra-day deals. The local unit closed the session at Thursday's closing level of 83.20 (provisional) against the dollar. The domestic currency jumped 14 paise on Thursday. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.13 per cent at 101.36 on Friday. Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, said the US dollar recovered slightly on short coverings but declined again on expectations of interest rate cuts by the US Federal Reserve. The rupee is likely to trade with a slight positive bias on the weak tone of the US dollar and declining crude oil pric

Rupee ends higher, far forward premiums climb to over 2-month high

The rupee closed at 83.1650 to the U.S. dollar, up from 83.3450 in the previous session. The currency posted its biggest rise in a single rise in nearly two weeks

2023 The India Story: When rupee gained currency against US dollar

The year rupee remained the most stable against the dollar in nearly three decades

Rupee rises to near 3-month high of 83 against US dollar amid stocks rally

The Indian currency had settled at 83.33 a dollar on Thursday

Rupee rebounds 13 paise to 83.27 against US dollar in early trade

The rupee rebounded by 13 paise to 83.27 against the US dollar in early trade on Thursday after the greenback weakened in the overseas markets as the US Federal Reserve signalled a cut in interest rates next year. The local unit opened strong at 83.30 at the interbank foreign exchange market. The currency rose further to hit a high of 83.27 in morning deals, reflecting gains of 13 paise over the previous close. The rupee had closed at its all-time low level of 83.40 on Wednesday after retail inflation rose to a three-month high of 5.55 per cent in November. The US dollar index, which measures the greenback's strength against a basket of six currencies, eased by 0.33 per cent to 102.53. The US Federal Reserve kept its key interest rate unchanged on Wednesday for a third time in a row. The officials also signalled that they expect to make three quarter-point cuts to their benchmark rate next year. "The crash in the US 10-year yield to 4 per cent will trigger large capital flows to .

Rupee settles at new closing low of 83.40 on caution ahead of US Fed meet

The dollar index, which measures the strength of the greenback against a basket of six major currencies, rose to 103.95, against 103.78 on Tuesday

Rupee appreciates one paisa to 83.36 against US dollar in early trade

The rupee rose 1 paisa to 83.36 against the US dollar in early trade on Tuesday amid foreign fund inflow and softening of the American currency against its major rivals. According to forex traders, positive cues from the domestic equity market also boosted investors' sentiment while the upward movement of crude oil prices weighed on the Indian currency. At the interbank foreign exchange market, the local unit opened at 83.36 against the greenback. The rupee touched the intra-day peak of 83.35 before trading at 83.36 against the American currency, up 1 paise from its previous close. On Monday, the domestic currency settled at 83.37 against the US dollar. "Yesterday, the dollar against its major crosses also traded with low volatility as market participants remain cautious ahead of the important FOMC (Federal Open Market Committee) policy statement that is scheduled to be released later this week," Gaurang Somaiya, forex and bullion analyst at Motilal Oswal Financial Services, said.

Rupee appreciates 2 paise to 83.35 against US dollar in early trade

The rupee appreciated 2 paise to 83.35 against the US dollar in early trade on Wednesday, amid a bullish trend in domestic equities and sustained foreign fund inflows. Forex traders said investors remained on the sidelines ahead of the Reserve Bank of India's monetary policy decision later this week. At the interbank foreign exchange, the rupee opened 2 paise higher at 83.35 against the dollar as domestic benchmark indices touched new lifetime peaks. On Tuesday, the rupee settled at 83.37 against the dollar. "The RBI's policy, commencing on Tuesday with a decision due on Friday, will be closely monitored," CR Forex Advisors MD Amit Pabari said. The Reserve Bank is likely to maintain the status quo on the short-term interest rate in its monetary policy review. RBI Governor Shaktikanta Das-headed Monetary Policy Committee (MPC) is scheduled to begin its three-day deliberations on December 6. Das would unveil the decision of the six-member MPC on December 8. Meanwhile, the dollar i

Rupee settles at record closing low of 83.39 against the US dollar

The Dollar Index, which measures the strength of the greenback against a basket of six major currencies, rose to 103.65, against 103.31 on Monday

Rupee see-saws in thin band, likely because RBI offsets corporate dollar

The RBI sold dollars near the start of the spot trading session and also intermittently stepped in during the day, traders said