Page 33 - Rupee

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

Rupee, govt bond stronger after US Federal Reserve's 50 bps rate cut

The Federal Reserve began its easing cycle with a somewhat unexpected 50 basis point rate cut, implicitly acknowledging that rates may have been held too high for too long

Rupee appreciates 9 paise to 83.56 against US dollar in early trade

The rupee sustained its gaining streak for the third straight session and rose 9 paise to 83.56 against the US dollar in early trade on Friday buoyed by a firm domestic equity market and weakening American currency. Lower crude oil prices also supported the Indian currency though the unit was weighed down by some outflow of foreign funds, forex traders said. At the interbank foreign exchange market, the Indian currency opened at 83.63 and strengthened further to 83.56 against the greenback, trading 9 paise higher than its previous closing level. The local unit gained 11 paise to settle at 83.65 against the US dollar on Thursday after settling 10 paise higher on Tuesday. The Forex market was closed on Wednesday due to a holiday declared by the Maharashtra government. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.07 per cent to 100.24. Analysts said the dollar index retreated after the US Federal Reserve reduced th

Rupee rises 6 paise to 83.70 against US dollar during early trade

The rupee rose 6 paise to 83.70 against the US dollar in early trade on Thursday, reflecting strong investor sentiment after the US Federal Reserve decided to cut interest rate in line with market expectations. The rupee also got support from lower crude oil prices, positive domestic equity markets as well as inflow of foreign funds, forex traders said. A stronger greenback, however, capped the upward movement in the local unit, they added. At the interbank foreign exchange market, the Indian currency opened at 83.70 and inched up to 83.69 before trading at 83.70 against the greenback, registering a gain of 6 paise from its previous closing level. On Tuesday, the local unit had gained 10 paise to settle at 83.76 against the US dollar. The Forex market was closed on Wednesday due to the holiday declared by the Maharashtra government. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was up 0.46 per cent to 100.75. Analysts attr

Rupee gains 2 paise to 83.84 against US dollar during early trade

The rupee appreciated 2 paise to 83.84 against the US dollar in early trade on Tuesday, helped by a weak greenback against major crosses overseas and lower crude oil prices in international markets. However, a sluggish trend in the domestic equities and fresh foreign fund outflows amid US rate cut expectations restricted the rise in the local unit, forex traders said. At the interbank foreign exchange market, the local unit opened slightly weak at 83.87 but gained some ground to turn positive at 83.84, registering a rise of 2 paise from its previous close. On Monday, the local unit settled at 83.86 against the US dollar. "A decline in crude oil prices, (recent) healthy foreign institutional inflows into Indian equities, and speculation about a possible rate cut by the Federal Reserve have stirred hopes of stability. Moreover, the Reserve Bank of India is poised to step in around the crucial 84-mark, likely deploying its reserves to prevent a further slide in the rupee," said, Amit

Rupee expected to remain steady ahead of US Fed decision this week

The 1-month non-deliverable forward indicated that the rupee will open at 83.87-83.88 to the US dollar

Rupee has been among the least volatile currencies since 2023: RBI governor

Our stated policy is to prevent excessive volatility of the rupee, said Reserve Bank of India governor Shaktikanta Das

Rupee rises 5 paise to 83.87 against US dollar during early trade

The rupee appreciated by 5 paise to 83.87 against the US dollar in early trade on Monday supported by weakening of the American currency in the overseas market and significant foreign fund inflows. Forex traders said market participants are eagerly awaiting cues from the US Fed policy on Wednesday, with a rate cut all but certain. However, the magnitude of the cut remains uncertain. Moreover, the rupee continues to hold steady within a well-defined range on active intervention by the Reserve Bank of India (RBI), they added. At the interbank foreign exchange market, the local unit opened at 83.89, then inched further to touch 83.87, registering a rise of 5 paise from its previous close. On Friday, the local unit settled higher by 4 paise at 83.92 against the US dollar. "Despite a significant drop in the dollar index and crude oil prices remaining under control in recent sessions, alongside inflation figures staying below the Central Bank's 4 per cent target for the second consecuti

Rupee to receive boost as chances of significant Fed rate cut rise

The 1-month non-deliverable forward indicated that the rupee will open flat-to-slightly-higher to the US dollar

Rupee ends higher, registers strongest weekly rise since late June

The rupee closed at 83.8875 against the U.S. dollar, up from its close at 83.9650 in the previous session

Rupee rises 5 paise to 83.91 against US dollar during early trade

The rupee appreciated by 5 paise to 83.91 against the US dollar in early trade on Friday supported by weakening of the American currency in the overseas market and significant foreign fund inflows. Forex traders said the rupee continues to trade within a tight range, as the Reserve Bank of India (RBI) is maintaining a firm grip on the domestic currency. At the interbank foreign exchange market, the local unit opened at 83.92, then inched further to touch 83.91, registering a rise of 5 paise from its previous close. On Thursday, the local unit settled 3 paise higher at 83.96 against the US dollar. "The Indian rupee appears to be moving in its own orbit, refusing to appreciate and continuing to trade within a tight range, as the RBI maintains a firm grip on the domestic currency. In the near-term, the rupee is expected to trade within a narrow band of 83.80 to 84.05, while the medium-term outlook slightly broadens the range to 83.70 to 84.05," CR Forex Advisors MD Amit Pabari ...

Indian importers favour FX options as rupee holds steady, premiums soar

Such structures would, for instance, allow importers to lock in an FX payment due in six months at the dollar/rupee spot rate of 83.96