Page 56 - Rupee Vs Dollar

Rupee's depreciation due to strengthening of dollar index: SBI chairman

The Indian rupee has weakened essentially due to the strengthening of the dollar index but it is holding well as compared to currencies of other emerging market economies, State Bank of India Chairman Dinesh Khara said. Depreciation of the rupee is a cause of concern, especially for a country which has significant imports, Khara told PTI in an interview on the sidelines of the annual meeting of the International Monetary Fund and the World Bank here on Friday. The rupee closed at 82.19 against the US dollar on Friday amid a firm greenback overseas and sliding crude oil prices. At the interbank foreign exchange market, the local currency opened at 82.26 and witnessed a high of 82.12 and a low of 82.43 before settling at 82.19. The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.56 per cent to 112.99. The Indian rupee is doing pretty well, Khara said. "Better than us was only Indonesia, which is generally a commodity economy and Br

Rupee depreciates 8 paise to close at 82.32 against American dollar

The rupee depreciated 8 paise to close at 82.32 (provisional) against the US dollar on Friday, as a firm American currency and risk-averse sentiment among investors weighed on the local unit. At the interbank foreign exchange market, the local currency opened at 82.26 and finally settled at 82.32 against the American currency, registering a decline of 8 paise over its previous close. During the day, the local unit witnessed a high of 82.12 and a low of 82.43 against the greenback. On Thursday, the local currency had settled at 82.24 against the US dollar. "Rupee weakened a bit against the dollar in the wake of a hotter-than-expected inflation number that was released on Thursday," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services. The US CPI was reported at 8.2 per cent against expectations of 8.3 per cent, whereas Core CPI was higher at 6.6 per cent. ECB officials mentioned that they see the need for fewer rate hikes than expected to calm the ...

RBI norms on unhedged Fx exposure unlikely to impact banks much

In June, the RBI had said that of the outstanding ECBs of $180 billion, 44 per cent was unhedged

Rupee trades in narrow range against US dollar in opening trade

The rupee was trading in a narrow range against the US dollar in opening trade on Thursday, tracking a muted trend in domestic equities amid weak domestic macroeconomic data. At the interbank foreign exchange, the rupee witnessed range-bound trading in early deals. It opened at 82.30 against the US dollar, then rose to 82.29, registering a gain of 4 paise over the last close. It was moving in a tight range of 82.25 to 82.34 in the morning trade. On Wednesday, the rupee fell by 12 paise to close at 82.33 against the US dollar. The rupee started with small gains ahead of US CPI data that could aid investors to evaluate the size of rate hikes that the Fed is likely to deliver this year, said Sriram Iyer, Senior Research Analyst at Reliance Securities. A fall in the crude prices could aid sentiments, but most Asian and emerging market peers were weaker this Thursday morning as the FOMC minutes revealed that the Fed will continue its aggressive monetary policy stance and will cap gains

Rupee depreciates 14 paise to 82.35 against US dollar in early trade

The rupee depreciated 14 paise to 82.35 against the US dollar in the morning trade on Wednesday amid the strengthening of the American currency and sustained foreign fund outflows. Moreover, risk aversion sentiment among investors and weak Asian and emerging market currencies weighed on the local unit. At the interbank foreign exchange, the domestic unit opened at 82.32 against the dollar, then lost further ground to 82.35, registering a loss of 14 paise over its previous close. In a highly volatile session, the local unit also touched 82.28 against the American currency in initial deals. On Tuesday, the rupee rebounded from its all-time low to close 19 paise higher at 82.21 against the US dollar. "Most Asian and emerging market peers were weaker this Wednesday and will weigh on sentiments," Sriram Iyer, Senior Research Analyst at Reliance Securities said, adding that investors will remain cautious ahead of the release of key domestic macro data. India's inflation, IIP and ...

RBI asks banks to set aside capital, provisions for unhedged FX exposure

Move comes amid sharp depreciation in rupee; says losses incurred by entities with such exposure could affect health of banking system

RBI likely sold dollars, received forwards to stem rupee's drop: Report

The rupee has traded in a narrow range of about 8 paisa so far in the session

Rupee depreciates 1 paisa to 82.41 against US dollar in early trade

The rupee slipped 1 paisa to 82.41 against the US dollar in the morning trade on Tuesday amid the strengthening of the American currency and sustained foreign fund outflows. Moreover, a weak trend in domestic equities and risk aversion sentiment among investors weighed on the local unit. At the interbank foreign exchange, the domestic unit opened at 82.35 against the dollar, then pared the gains to 82.41, registering a loss of just 1 paisa over its previous close. In a highly volatile session, the local unit also touched 82.33 against the American currency in initial deals. On Monday, the rupee slipped 10 paise to finish at a fresh lifetime low of 82.40 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.12 per cent to 113.27. Brent crude futures, the global oil benchmark, fell 0.28 per cent to USD 95.92 per barrel. "RBI sold more than a billion dollars yesterday to protect against a fast depreciati

RBI interventions, corporate flows pull rupee back from new low against USD

Rupee underperforms EM peers so far in Oct, fares worse than 14 currencies

Rupee falls 4 paise to close at new low of 82.34 against US dollar

The rupee pared most of its initial losses and settled 4 paise lower at a fresh lifetime low of 82.34 (provisional) against the US dollar on Monday, weighed down by as risk-averse sentiment among investors. Moreover, a negative trend in domestic equities and a firm greenback overseas sapped investor appetite, forex traders said. At the interbank foreign exchange market, the local currency opened at 82.68, then fell further to an all-time intra-day low of 82.69. According to forex traders, the local unit pared initial losses on possible central bank intervention and finally settled for the day at an all-time low of 82.34 against the American currency, down 4 paise over its previous close. On Friday, the rupee had depreciated by 13 paise to close at 82.30. "The Indian rupee pared opening losses on possible central bank intervention and corporate inflows... lower crude oil prices also supported the rupee in today's session," said Dilip Parmar, Research Analyst, HDFC Securities. Howe

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Rupee falls 39 paise to fresh lifetime low of 82.69 against US dollar

The rupee fell 39 paise to an all-time low of 82.69 against the US dollar in early trade as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit

Rupee breaches 82 level vs dollar as Fed officials back rate hike view

RBI nudges banks to ease up on offshore FX positions

No peace for Indian rupee as mighty dollar thunders on: Reuters Poll

India's rupee will trade near its record low against the mighty greenback beyond this year, buffeted by rising oil prices and an aggressive U.S. Federal Reserve rate-hiking campaign

Rupee falls 32 paise to close at new low of 81.94 against US dollar

The rupee plunged 32 paise to close at an all-time low of 81.94 (provisional) against the US dollar on Thursday amid high volatility as firm crude oil prices weighed on the local unit. At the interbank foreign exchange market, the local currency opened on a positive note at 81.52, then pared all the gains to settle at an all-time low of 81.94 against the American currency, registering a decline of 32 paise over its previous close. During the day, the local unit witnessed an intra-day high of 81.51 and a low of 81.94 against the greenback. On Tuesday, the rupee appreciated by 20 paise to end at 81.62 against the US dollar. The forex market was closed on Wednesday on account of Dussehra. "Rupee, after appreciating marginally on Tuesday, is again starting to come under pressure. The dollar strengthened after services PMI and private payrolls numbers from the US came in better than estimates," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services. Major ...

Bonds strengthen sharply as growth fears drag down US debt yields

Rupee notches up gains as dollar index eases; OPEC meet in focus

Top headlines: Rupee rises 29 paise; Tracxn Technologies IPO to open Oct 10

The initial share-sale will open for public subscription on October 10 and close on October 12, the company said in a statement

Rupee rises 29 paise to close at 81.53 against US dollar on FII buying

The rupee appreciated by 29 paise to end at 81.53 (provisional) against the US dollar on Tuesday as heavy buying in domestic equities and weakness in the greenback strengthened investor sentiment. However, rising crude prices in the international market capped the rupee's gain, forex dealers said. At the interbank forex market, the local unit opened strong at 81.66 against the greenback. It witnessed an intra-day high of 81.36 and a low of 81.66 during the session. It finally ended at 81.53, up 29 paise from its previous close. In the previous session, the rupee had settled paise 42 lower at 81.82 against the dollar. "Rupee retraced from its all-time lows after the RBI raised rates by 50 bps. The dollar retraced from high levels after the manufacturing PMI number released from the US came below estimates. "Volatility in major crosses continues to remain high as updates on the change in economic policies keep market participants on the edge. Today, the focus will be on the factory

Rupee sheds 53 paise on crude oil price spike; bond yields jump

Dealers say it's because of delay in index inclusion

Invest in US funds, gold to fulfil child education goal amid rupee plunge

Travellers may switch to destinations against whose currencies the rupee has gained