RBI must keep an eye on its reserves as dollar strengthens
The Sri Lankan rupee has fallen over 66 per cent against the rupee in the last six months. It was trading at 2.7 per INR on January 19 and has fallen to 4.5 on July 19
With front-loaded rate hikes by the US Fed, the US dollar will remain relatively strong in the immediate term
While the impact on other currencies has been sharp with most of them depreciating, the rupee has done well, being somewhere in the middle
Textile industry players indicate that the weak rupee will help the industry, which is a net exporter, to the extent of 5-10 per cent rise in profit margins
The currency has been buffeted by nearly $30 billion of foreign outflows from the nation's equities so far this year -- a record sum
Crude oil prices jumped on Monday as US President Joe Biden's talks with West Asian countries failed to culminate in an agreement to increase output
The rupee appreciated 6 paise to 79.76 against the US dollar in early trade on Monday as a positive trend in domestic equities supported the local unit
Transactions in INR shift entire exchange rate risks to the foreign party. It is difficult to fathom why any foreign trader would agree to that
It's seen at 80.20/$ at July-end, stabilising at 80.50 by Sept
The country's foreign exchange reserves had declined by $8 billion in the week ended July 8 to hit a 15-month low of $580.25 billion as RBI stepped intervention in the forex market
At the interbank foreign exchange, the rupee opened up at 79.95 against the American dollar, then gained further strength to trade at 79.92 in early deals
Rupee which had closed at 79.64/$ at its previous close, slipped to a low of 79.92/$ intraday
The rupee was trading at 79.80 against the US dollar at 10.10am IST, compared to its close of 79.64 on Wednesday
The rupee declined by 9 paise to settle at a new record low of 79.90 against the US currency on Thursday due to a firm US dollar in overseas markets and capital outflows. A decline in crude oil prices in the international markets, however, restricted the rupee losses, forex dealers said. At the interbank foreign exchange market, the local currency opened strong at 79.72 and witnessed an intra-day high of 79.71 and a low of 79.92 against the US dollar in the day trade. The local unit finally settled at 79.90 a dollar, down 9 paise over its previous close. The rupee pared its early gains as the US dollar continued to gain against a basket of leading global currencies in early European trade. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.37 per cent up at 108.36. Brent crude futures, the global oil benchmark, dropped 2.20 per cent to USD 97.38 per barrel. On the domestic equity market front, the BSE Sensex ended 98 points o
The rupee is partially convertible. It attained current account convertibility in the early- through mid-1990s. This means the rupee can be converted to any foreign currency at existing market rates
The Indian rupee weakened in opening trade to hit record lows against the greenback for a fourth straight session after data showed US inflation, already at four-decade highs, accelerated even further
The rupee has already lost 0.5% to the greenback this week, taking the depreciation for 2022 so far to 6.7%
The rupee declined by 22 paise to close at a record low of 79.81 against the US currency on Wednesday after the dollar surged to a 20-year high in overseas markets
At the interbank forex market, the local unit opened strong at 79.55 against the greenback but could not hold on to gains and slipped in the negative territory