Page 2 - Rupee

Govt open to debate on LTCG tax, STT ahead of Budget: FM Sitharaman

Finance Minister Nirmala Sitharaman said investors in India and abroad have raised questions about capital gains taxation, STT and whether different asset classes should be taxed on similar lines

Rupee hits one-month high as RBI measures, intervention boost currency

The rupee appreciated 82 paise to 94.96 against US dollar in early trade on Tuesday, supported by various RBI measures aimed at reducing immediate dollar demand and curbing excessive positions in the foreign exchange market. Forex traders said measures including a dedicated dollar window for oil marketing companies through designated banks and higher costs for certain foreign exchange hedging transactions, are expected to reduce dollar demand in the spot market and curb speculative positions against the rupee. At the interbank foreign exchange market, the rupee opened at 95.53, then gained ground to touch 94.96, registering a gain of 82 paise over its previous close. On Monday, the rupee appreciated 93 paise, logging its steepest single-day gain in more than six months, to close at 95.78 against the US dollar. "With the RBI's measures supporting the rupee, we expect USD/INR to move towards 95.0094.80 range in the near term," CR Forex Advisors MD Amit Pabari said. The RBI on Saturd

RBI tightens rupee derivatives rules, widens 20% cash reserve requirement

The move is the latest in a slew of measures announced by the central bank since Saturday aimed at supporting the rupee, which has been falling due to steep oil prices and capital outflows

S&P 500 up 14%, rupee down 5.7% in 10 months: Should Indians buy US stocks?

This year the S&P 500 is up about 14% in dollars. Because the dollar has also gained nearly 7% against the rupee, the return in rupees is closer to 22%.

Banks seek RBI relief, clarity on India's latest rupee-defence measures

Lenders have approached ‌RBI via a forex industry body, seeking the removal of a mandate that banks make a 20% cash deposit with the RBI for FX derivatives used to hedge current-account exposures

Rupee posts biggest gain in 6 months after RBI measures to support currency

The currency gained 1%, its biggest jump since April, to 95.7575 per dollar on Monday

Rupee opens over 1% higher at 95.73 on RBI measures to curb dollar demand

The rupee opened at 95.73 against the greenback today compared with Friday's close of 96.76. As of 9.14 AM, it was trading at 95.76, according to Bloomberg data.

Rupee defence raises question of how far RBI will go as pressure mounts

The rupee is poised to rally when trading resumes Monday, with analysts expecting the RBI to defend the 97-per-dollar level

RBI opens special dollar window for oil firms as rupee comes under pressure

Special window for PSU oil companies from Monday; Forex dealers will not permit users to rebook any foreign exchange derivatives

Rupee rises 23 paise to 96.65 against US dollar during early trade

The rupee appreciated 23 paise to 96.65 against US dollar in early trade on Friday, supported by a slight softening in the US dollar and suspected intervention by the Reserve Bank of India. Forex traders said the rupee opened on a positive note this morning with the dollar index down to 102 levels and Brent also down to USD 103.39 per barrel after US President Donald Trump said that the attack on Iran will happen only after the midterm elections. However, broader geopolitical pressures on the domestic currency persist and relentless foreign fund outflows is pressurising the domestic unit further, they said. At the interbank foreign exchange market, the rupee opened at 96.74, then gained some ground to touch 96.65, registering a rise of 23 paise over its previous close. On Thursday, the rupee depreciated by 13 paise to close at 96.88 against the US dollar. "Sustained strength in the US Dollar Index (DXY trading near multi-month highs near to 102.50), Brent crude prices firming back

Rupee rises 10 paise to 96.65 against US dollar during early trade

The rupee traded in a narrow range and edged up 10 paise to 96.65 against US dollar in early trade on Thursday on likely intervention by the Reserve Bank of India. Forex traders said rupee is under pressure amid persistent macroeconomic headwinds, including global dollar strength (DXY trading near multi-month highs), elevated Brent crude prices hovering near USD 102 per barrel. Moreover, relentless foreign fund outflows as well as fall in forex reserves by USD 50 billion in just three weeks from the high of USD 786 billion in September dented investor sentiments further. At the interbank foreign exchange market, the rupee opened at 96.71, then gained some ground to touch 96.65, registering a rise of 10 paise over its previous close. On Wednesday, the rupee closed at 96.75 against the American currency. "Strong corporate importer demand for dollars together with safe-haven capital shifts overpowered the RBI's hawkish policy stance, driving USD/INR higher through the afternoon unti

Rupee settles at 2nd weakest close of 96.78 as RBI fails to lift sentiment

The rupee records its second-weakest close as external pressures and weak dollar inflows weigh; RBI Governor Sanjay Malhotra says the currency may be undervalued

Rupee falls 22 paise to 96.57 against US dollar post RBI rate increase

The rupee depreciated 10 paise to 96.45 against the US dollar in early trade on Wednesday ahead of the Reserve Bank of India's monetary policy decision. The rupee is under continuous pressure amid persistent outflows of foreign funds from domestic equities and strong US dollar holding near multi-month highs above 102 (DXY), forex traders said. Moreover, investors are keenly awaiting the RBI's monetary policy decision for further cues. At the interbank foreign exchange, the rupee opened at 96.37, then lost ground and fell to 96.45, down 10 paise from its previous close. On Tuesday, the rupee settled at 96.35 against the US dollar. "We have the RBI monetary policy meeting today, in which the RBI is expected to raise rates by 25 bps with an outside chance of a 50 bps raise. The RBI may also raise the CRR by 1 per cent to 4 per cent to absorb the excess liquidity. "We await the RBI stance on the falling rupee which has lost more than 2 per cent in the last 1 month with oil demand and

Rupee slips 4 paise to 96.39 against US dollar during early trade

The rupee declined 4 paise to 96.39 against the US dollar in early trade on Tuesday over a rise in crude oil prices and sustained FII outflows. However, positive sentiments in the domestic equity markets and a weaker dollar index cushioned the local unit against further decline, forex traders said. At the interbank foreign exchange, the rupee opened at 96.29 but fell to 96.39, down 4 paise from its previous close. The rupee depreciated 10 paise to close at 96.35 against the US dollar on Monday. "The Reserve Bank has been protecting the rupee from its fall at 96.33 but the demand of dollar from FPIs and oil companies has not come down despite oil falling to USD 100.63 per barrel and dollar index to 102.12," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. The Reserve Bank's Monetary Policy Committee began its three-day meeting on Monday and is likely to raise rates by 25 basis points, aligning with the central banks' hawkish stance a

Rupee to fall more, yield curve to shift higher in H2FY27: Gaura Sengupta

The rupee is expected to depreciate further against the US dollar, with RBI becoming increasingly selective in its intervention strategy, said Gaura Sengupta, chief economist, IDFC First Bank

Rupee steadies near 96/$ as outflows weigh, RBI intervention cushions

The rupee was at 95.97 per dollar at 11:30 ‌a.m. IST in Mumbai, little changed from its close at 95.98 in the previous session

Rupee declines to 96.14/$ on rising oil prices, portfolio outflows

The ‌rupee declined to a low of 96.1475 per dollar, down nearly 0.2% on the day, before trimming losses on likely intervention by the Reserve Bank of India

Rupee recoups intraday losses as RBI intervenes via dollar sales

The rupee recovered from an intraday low of 96.15 per dollar to close flat at 95.99, aided by RBI intervention, softer crude prices and foreign inflows

Managing the rupee

RBI's currency intervention must be limited

Rupee falls 20 paise to 95.95 against US dollar during early trade

The rupee depreciated 20 paise to 95.95 against the US dollar in early trade on Monday, as the greenback strengthened further and foreign fund outflows continued unabated amid the ongoing West Asia conflict. Forex traders said elevated global crude oil prices put further pressure on the local unit. At the interbank foreign exchange market, the rupee opened at 95.89 against the American currency and lost further ground to touch 95.95 against the American currency, registering a loss of 20 paise from its previous closing level. On Friday, the rupee appreciated 24 paise to close at 95.75 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, traded at 101.11, up 0.15 per cent. Brent crude futures, the global oil benchmark, were trading higher by 2.31 per cent at USD 106.81 per barrel in futures trade. "Despite the Brent oil for November series being higher due to US President Donald Trump rejecting the peace pro