Page 33 - Rupee

Rupee hovers near 84 against dollar on dip in peers, tepid local equities

Meanwhile, inflows related to Hyundai Motor India's IPO undershot market expectations, with traders pointing to muted overnight dollar-rupee swap rates that signalled muted inflows

Rupee near all-time low: 3 big reasons why rupee is falling?

Lately, the Indian rupee has been facing tough times. As of now, the Indian rupee is trading at around 84.07 to the US dollar. This is very close to its lowest point ever, which was 84.075.

Rupee pinned near all-time low of 84.07 as regional currencies decline

The rupee is down by about 0.3 per cent this month, but has fared better than its regional peers

Rupee drops to lifetime low of 84.07 on high dollar demand by foreign banks

The rupee has remained under pressure this month due to sustained outflows from local equities

Rupee weakens below 84 against US dollar amid FPI selloff, costlier oil

Took two years after hitting 83/$ due to timely intervention

Rupee rises 1 paisa to 83.95 against US dollar during early trade

The rupee rose 1 paisa to 83.95 against the US dollar in early trade on Thursday amid a firm trend in domestic equity markets and a weaker greenback against major overseas rivals. However, an increase in global oil prices and heavy foreign fund outflows capped further recovery in the domestic currency, according to forex experts. At the interbank foreign exchange, the rupee opened at 83.95, marginally up by 1 paisa against the US dollar, and traded almost flat in early deals. The local unit had settled at 83.96 against the greenback on Wednesday. The Reserve Bank of India's (RBI) decision to keep policy rates unchanged also played a part in the rupee's range-bound movement. The RBI on Wednesday kept the policy rate unchanged for the tenth time in a row but shifted its stance from "withdrawal of accommodation" to "neutral" that may lead to a cut in the forthcoming policies. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was d

Rupee rises 5 paise to 83.92 against US dollar during early trade

The rupee appreciated 5 paise to 83.92 against the US dollar in early trade on Wednesday, ahead of the Reserve Bank of India's monetary policy announcement. Forex traders said the spotlight is firmly on the RBI as it prepares to announce its monetary policy. Most major central banks have pivoted toward rate cuts, with the US Fed being the latest to lower rates by 50 basis points. The RBI has maintained its accommodative stance. All attention now shifts to whether the central bank will move from its accommodative stance to a more neutral approach. At the interbank foreign exchange market, the local unit opened at 83.92 against the American currency, registering a rise of 5 paise over its previous close. On Tuesday, the rupee rose 3 paise to close at 83.97 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was up 0.03 per cent to 102.58 points. Brent crude, the international benchmark, was trading higher by 0.40 per ce

Rupee rises 6 paise to 83.94 against US dollar during early trade

The rupee rose 6 paise to 83.94 against the US dollar in early trade on Tuesday supported by a weaker greenback and lower crude oil price. However, volatility in the domestic equity markets and FII outflows capped sharp gains in the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 83.97 against the US dollar and rose to 83.92 before slipping marginally to 83.94, higher by 6 paise from its previous close. The domestic unit had settled at 84.00 on Monday. The reconstituted rate-setting panel of the Reserve Bank of India (RBI) on Monday started deliberations on the next bi-monthly monetary policy. The decision of the panel will be announced on Wednesday, which could determine the movement in the rupee over the next few days. In the current context, experts feel that the RBI may not follow the US Federal Reserve, which lowered the benchmark rates by 50 basis points, and the central banks of some developed nations, which have reduced the interest

RBI instructs banks to stop making aggressive bets against rupee: Report

The central bank steps in occasionally to support the rupee via moral suasion and had last done something similar in early August

Rupee remains unchanged as RBI's firm grip on currency limit losses

The rupee closed at 83.9775 against the US dollar, little changed from its previous close of 83.9725

Rupee rises 2 paise to 83.97 against US dollar during early trade

The rupee rose 2 paise to 83.97 against the US dollar in early trade on Monday, aided by a weaker greenback in the international market and a drop in crude oil prices. The increase in the country's forex reserves to a new all-time high of USD 704.88 billion on Friday further pushed the domestic currency, according to forex traders. However, growing escalation in conflict in the Middle East and FIIs outflow on Friday capped sharp gains in the domestic unit, they said. At the interbank foreign exchange, the rupee opened at 83.96 against the US dollar, 3 paise higher from its previous close of 83.99. It then declined 1 paisa to 83.97, higher by 2 paise from Friday's close. India's forex reserves jumped USD 12.588 billion to a new all-time high of USD 704.885 billion for the week ended September 27, the Reserve Bank of India said on Friday. On the domestic equity market front, the Sensex rose 228.16 points, or 0.28 per cent, to 81,916.61. The Nifty rose 67.60 points, or 0.27 per cent

Rupee depreciates 15 paisa against US dollar tracking Asian peers

The significant outflow from domestic equities further weighed on the Indian unit, said dealers

Rupee plunges 11 paise to 83.93 against US dollar during early trade

Rupee depreciated 11 paise to 83.93 against the US dollar in early trade on Thursday due to rising crude oil prices and negative sentiment in the domestic equity markets amid concerns over escalating tension in the Middle East. Unabated outflow of foreign funds from capital markets and a strengthening American currency also weighed on the Indian currency, forex traders said. At the interbank foreign exchange, the local unit opened at 83.91 and lost further ground to touch 83.93 against the greenback, trading 11 paise lower from its previous session's closing level. On Tuesday, the rupee settled 3 paise lower at 83.82 against the American currency. The forex markets were closed on Wednesday on account of Mahatma Gandhi Jayanti. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.10 per cent to 101.53. Brent crude, the international benchmark, climbed 1.11 per cent to 74.72 in futures trade. Experts attributed the spike in c

Rupee depreciates 2 paise to 83.81 against US dollar in early trade

Rupee fell 2 paise to 83.81 against the US dollar in early trade on Tuesday, tracking massive outflow of foreign funds amid volatile global markets. Forex traders said the Indian unit was weighed down by a strengthening American currency against major rivals, though a retreating crude oil prices and recovery in domestic equity markets resisted a steep fall in the rupee. They said monetary and fiscal stimulus announced by China triggered the withdrawal of foreign funds as investors preferred better-performing Chinese markets. At the interbank foreign exchange, the local unit opened at 83.81 against the greenback, registering a loss of 2 paise from its previous closing level. On Monday, the rupee settled 10 paise lower at 83.79 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.02 per cent to 100.54. Brent crude, the international benchmark, declined 0.29 per cent to 71.77 in futures trade. O

Rupee falls 6 paise to 83.75 against US dollar during early trade

Rupee depreciated 6 paise to 83.75 against the US dollar in early trade on Monday amid negative equity market sentiment and outflow of foreign funds. Forex traders said an upward movement in crude oil prices and a strong greenback against major overseas rivals due to its increased demand from importers at the month end put pressure on the local unit. Also, they said, investors showed muted participation awaiting cues from domestic manufacturing PMI (Purchasing Manager's Index) numbers to be released this week. At the interbank foreign exchange, the local unit opened at 83.72 and slipped further to 83.75 against the American currency, registering a loss of 6 paise from its previous close. On Friday, the rupee fell 3 paise to settle at 83.69 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.07 per cent to 100.17. According to analysts, the dollar strengthened after the US core personal consum

Rupee rises 2 paise to 83.64 against US dollar during early trade

Rupee rises 2 paise to 83.64 against the US dollar in early trade on Friday amid softening crude oil prices and inflow of foreign funds. The Indian currency was, however, weighed down by a subdued domestic equity market and a stronger greenback against major rivals overseas amid increased month-end dollar demand from importers, forex traders said. At the interbank foreign exchange, the local unit opened at 83.64 and touched the low of 83.69 before trading again at 83.64 against the American currency, registering a gain of 2 paise from its previous close. On Thursday, the rupee declined 8 paise to settle at 83.66 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was up 0.15 per cent to 100.39. Analysts said the market participants were awaiting further cues from the personal consumption expenditure data to be released in the US on Friday. Brent crude, the international benchmark, fell 0.36 per cent

Rupee to gauge trimmed bets of large Fed cut, US inflation data in focus

US jobless claims declined to a four-month low while gross domestic product grew at an unrevised 3 per cent

Rupee declines 11 paise to 83.69 against US dollar during early trade

Rupee declined 11 paise to 83.69 against the US dollar in early trade on Thursday amid a strengthening dollar against overseas currencies and an increase in crude oil prices. FIIs turning net sellers on Wednesday put further pressure on the domestic currency against the greenback, according to forex experts. At the interbank foreign exchange, the local unit opened at 83.66, down 8 paise from its previous close of 83.58 against the American currency. It slipped further to 83.69, 11 paise lower from Wednesday's closing rate. "The USDINR is expected to find strong support at 83.50, with potential to rebound toward 83.75-83.80, offering another selling opportunity for those who missed out at similar levels before," CR Forex Advisors MD Amit Pabari said. On the domestic equity markets front, the Sensex climbed 146.27 points to reach its all-time high of 85,316.14, while the Nifty, too, scaled to a record high of 26,037.25 points, up 33.10 points. The dollar index, which gauges the ...

Rupee appreciates 10 paise to 83.53 against US dollar in early trade

The rupee appreciated 10 paise to 83.53 against the US dollar in early trade on Wednesday, on the overall dollar weakness in the overseas market. Forex traders said the US dollar has weakened against majors post the weak consumer confidence print. The US consumer confidence dropped by the most in three years to 98.7 from 105.6 in August. At the interbank foreign exchange market, the local unit opened at 83.59 against the American currency, then touched 83.54, registering a rise of 10 paise over its previous close. On Tuesday, the rupee depreciated 9 paise to close at 83.63 against the American currency. "The Indian rupee which depreciated on Tuesday opened stronger on the overall dollar weakness against Asian currencies and European currencies," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. The dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.21 per cent to 100.25 points. Brent cru

Rupee rises 6 paise to 83.46 against US dollar during early trade

The rupee entered its third week of rally and appreciated 6 paise to 83.46 against the US dollar in early trade on Monday, tracking positive momentum in domestic equity markets amid a massive inflow of foreign funds. However, an upward movement in the crude oil prices and a strengthening greenback against major overseas rivals capped a sharp rise in the Indian currency, forex traders said. At the interbank foreign exchange market, the Indian currency opened at 83.44 and fell to 83.49 before trading again at 84.46 against the greenback, registering a gain of 6 paise higher than its previous closing level. The local unit gained 13 paise to settle at 83.52 against the US dollar on Friday. The Indian currency has been on a recovery path since September 11 when it had settled at 83.99 against the American currency, a tad higher than the lowest level of 84.09 recorded on August 5. The upward move of the Indian currency was attributed to the US Federal Reserve's decision to reduce benchm