Page 40 - Rupee Vs Dollar

Rupee appreciates 5 paise to 83.23 against US dollar in early trade

The rupee rose 5 paise to 83.23 against the US dollar in early trade on Wednesday, recovering from its steep loss in the past two sessions amid a massive selling by foreign equity investors and a strengthening American currency. Weak sentiment in the global equity markets and surging crude oil prices also weighed on the Indian currency, forex traders said. At the interbank foreign exchange, the domestic unit opened at 83.23 and traded in a narrow range of 83.21 to 83.24 against the greenback. It later traded at 83.23 against the dollar, registering a gain of 5 paise from its previous close. The rupee lost 34 paise in the past two sessions. It closed 15 paise lower at 83.28 against the dollar on Tuesday, a day after registering a loss of 19 paise. The downward movement of the rupee was attributed to a strengthening dollar amid a record rise in US Treasury yields. Also, the US dollar surged to a ten-month high level after a Federal Reserve policymaker hinted at a prolonged interest r

Rupee gives up index inclusion-led rally; RBI counted on to help

The rupee was at 83.12 against the US dollar by 11:00 am IST compared with 82.93 in the previous session. The dollar index was largely flat in Asia, but remained near 6-month highs

Rupee appreciates by 38 paise to 82.75 against US dollar in early trade

The rupee appreciated by 38 paise to 82.75 against the US dollar in early trade on Friday, as the inclusion of India in the JPMorgan bond index boosted investor sentiment. Forex traders said the decision of JPMorgan Chase & Co to include Indian government bonds in its benchmark emerging-market index, is expected to have far-reaching implications for India's debt market and global investors. At the interbank foreign exchange, the domestic unit opened strong at 82.75, registering a gain of 38 paise from its previous close. On Thursday, the rupee consolidated in a narrow range to settle 2 paise lower at 83.13 against the dollar. India's inclusion in a major global bond index will open doors to increased foreign investment in the nation's debt market, traders said. "The inclusion of India in the JPMorgan bond index has had a favourable effect on the rupee, with the currency showing strength by appreciating around 0.42 per cent in the NDF markets and reaching levels around 82.80," CR .

Rupee hits all-time closing low of 83.27 to dollar amid rise in oil prices

The rupee had hit an all-time low of Rs 83.29 per dollar on October 20, 2022

Rupee up 10 paise to 82.93 amid positive trend in domestic equities

The rupee appreciated by 10 paise to 82.93 against the US dollar in early trade on Tuesday tracking a positive trend in domestic equities and foreign fund inflows. Forex traders said the rupee is trading in a narrow range as the soft US dollar and positive domestic markets provided support, while concerns over global economic slowdown and rising expectations of a rate hike by FOMC amid strong economic data from the US may cap sharp gains for the local unit. At the interbank foreign exchange, the domestic unit opened at 82.93, registering a rise of 10 paise over its last close. On Monday, the rupee closed on a flat note at 83.03 against the American currency. In the initial trade, the rupee also touched a low of 83.00 against the greenback. "Major crosses have been weighed down in the last few weeks following broader strength in the dollar. Safe haven buying in the greenback is witnessed also as economic concerns in China continue to weigh on the overall market sentiment," Gaurang

Rupee continued upward trend, rises 9 paise to 82.93 against US dollar

The rupee continued its upward trend for the second straight session and appreciated by 9 paise to 82.93 against the US dollar in early trade on Monday, tracking positive cues from domestic equity markets and a weak American currency against major overseas rivals. However, firm crude oil prices hovering above USD 90 per barrel and outflow of foreign funds weighed on the Indian currency, forex traders said. At the interbank foreign exchange, the domestic unit opened 9 paise higher at 82.93 and traded in a narrow range of 82.90 to 82.96 against the greenback. On Friday, the rupee closed at 83.02 against the US dollar. Gaurang Somaiya, forex and bullion analyst, Motilal Oswal Financial Services, said this week the domestic inflation number will be important to watch and could trigger volatility for the currency. "Today, volatility for major crosses including the rupee could remain low as no major economic data is expected to release. We expect the USDINR (Spot) to trade sideways with

Indian rupee inches up, but sustainable recovery unlikely - traders

Buying dollars above 83.10-83.15 was advisable only for "long-term players", he added

Rupee rises 10 paise to 83.13 against US dollar, recovers from all-time low

The rupee recovered from its all-time low levels and appreciated by 10 paise to 83.13 against the US dollar in early trade on Friday, tracking a positive trend in domestic equities. Forex traders said the rupee is trading in a narrow range as firm crude oil prices and the strength of the American currency in the overseas market dented investor sentiments, while positive domestic equities cushioned the downside. At the interbank foreign exchange, the domestic unit opened at 83.13, registering a rise of 10 paise over its last close. On Thursday, the rupee depreciated 10 paise to its lifetime low of 83.23 against the US dollar. Forex traders expect the rupee to trade with a negative bias on a strong dollar and elevated crude oil prices. Disappointing European data may further support the dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell marginally by 0.15 per cent to 104.89. Brent crude futures, the global oil benchmark, fell 0.

Rupee closes at record low vs dollar amid China slowdown concerns

In the current financial year, the rupee has depreciated by 1.25 per cent. It depreciated by 7.8 per cent in the previous financial year, FY22

With Indian rupee near record low, RBI steps up NDF intervention: Bankers

The rupee was at 83.1525 to the U.S. dollar as of 11:16 a.m. IST, not too far from its record low of 83.29 hit in October 2022. The currency has largely avoided the decline in its Asian peers

Rupee depreciates 2 paise to hit lowest level of 83.15 against US dollar

The rupee fell 2 paise to hit the lowest level of 83.15 against the US dollar in early trade on Thursday amid a strong American currency and elevated crude oil prices. Forex traders said, massive selling of equities by foreign investors in the past few sessions and subdued market sentiment also put pressure on the Indian currency. Crude oil breached the level of USD 90 per barrel after oil producing countries agreed to extend supply cut till December this year, while dollar strengthened on safe-haven demand. At the interbank foreign exchange, the domestic unit opened at 83.15 against the dollar, 2 paise lower from its previous close. The unit traded in a narrow range of 83.14 to 83.16 against the greenback. On Wednesday, the rupee declined by 9 paise to close at 83.13 against the dollar. Earlier, the rupee had touched the level of 83.13 on August 21 this year. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell marginally by

Rupee settles near all time low of Rs. 83.14 as dollar index rises

The dollar index rose to 104.86, weighing on the Indian unit. The dollar index measures the strength of the greenback against a basket of six major currencies

Factor in rupee depreciation when planning for child's education goal

Defer foreign travel plan or opt for a destination where the currency impact is less pronounced

Rupee falls to 3-week low against dollar amid weakness in Asian currencies

Moreover, oil companies bought dollars as the Brent crude oil prices rose to $88.70 per barrel, which further weighed on the Indian currency

Rupee depreciates 13 paise to 82.84 against US dollar in early trade

The rupee depreciated 13 paise to 82.84 against the US dollar in early trade on Tuesday amid the withdrawal of foreign funds from domestic equities and firm crude oil prices. Positive sentiment in the equity markets failed to provide support to the Indian currency facing pressure due to the elevated level of greenback, forex traders said. At the interbank foreign exchange, the domestic unit opened at 82.78, then touched the lowest level of 82.84 against the American currency, registering a decline of 13 paise over its last close. On Monday, the rupee had settled at 82.71 against the dollar. Gaurang Somaiya, forex and bullion analyst at Motilal Oswal Financial Services, said, "Volatility in rupee remained low following lack of cues on the domestic as well as global front." In the next couple of sessions, services PMI number from major economies will likely trigger a move for the rupee. "Today, the focus will be on the services PMI number that will be released from the Euro zone an

Rupee depreciated 15 paise to 82.77 against US dollar amid firm oil prices

The rupee depreciated 15 paise to 82.77 against the US dollar in early trade on Monday as firm crude oil prices weighed on investor sentiments. At the interbank foreign exchange, the domestic unit opened at 82.71, then touched 82.77, registering a decline of 15 paise over its last close. On Friday, the rupee had settled at 82.62 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell marginally by 0.06 per cent to 104.17. "This week, services PMI and factory orders number from the US will be important to watch. Better-than-expected data could lift the dollar further higher," said Gaurang Somaiya, forex and bullion analyst, Motilal Oswal Financial Services. Somaiya further said,"We expect the USDINR (Spot) to trade sideways with a negative bias and quote in the range of 82.30 and 82.80." Brent crude futures, the global oil benchmark, rose 0.01 per cent to USD 88.56 per barrel on tighter supply outlook. In the

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Rupee depreciates by 0.6% in August on the back of weakening Chinese yuan

The rupee settled at Rs. 82.79 per US dollar on Thursday

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Rupee appreciates marginally to 82.62 against US dollar in early trade

The rupee traded in a narrow range and appreciated by 1 paise to 82.62 against the US dollar in early trade on Thursday amid a positive trend in the domestic equity market. Outflow of foreign funds and relatively higher crude prices weighed on the domestic unit, according to forex traders. Investors are also awaiting the GDP data for the first quarter of the current fiscal that will be released later in the day. At the interbank foreign exchange, the domestic unit opened at 82.65 and traded between the peak of 82.58 and the lowest level of 82.73 against the greenback. Later, the rupee was trading at 82.62 against the dollar, registering a gain of 1 paise from its previous close. On Wednesday, the rupee closed at 82.63 against the dollar. The latest US data indicated that the pace of employment growth was less than expected in August, raising hopes for easing of interest rates by the Federal Reserve. Gaurang Somaiya, forex and bullion analyst at Motilal Oswal Financial Services,