Page 37 - Rupee

Rupee appreciates 7 paise to 83.48 against US dollar in early trade

The rupee appreciated 7 paise to 83.48 against the US dollar in early trade on Tuesday amid a fresh inflow of foreign capital and positive sentiment in the domestic equity markets. Forex traders said the strengthening American currency weighed on the local unit though it found support due to downward movement in crude oil prices overseas. At the interbank foreign exchange market, the local unit opened at 83.52 and gained further to 83.48 against the greenback, registering a rise of 7 paise from its previous close. On Friday, the rupee settled 1 paisa lower at 83.55 against the US dollar. Forex markets were closed on Monday on account of Bakri Id. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 105.01, higher by 0.07 per cent. Brent crude futures, the global oil benchmark, declined 0.13 per cent to USD 84.14 per barrel. On the domestic equity market, the 30-share BSE Sensex rose 175.72 points, or 0.23 per cent,

Rupee depreciates 6 paise to 83.54 against US dollar in early trade

The rupee depreciated 6 paise to 83.54 against the US dollar on Thursday, weighed down by the broad strength of the American currency in the overseas market and elevated crude oil prices. Forex traders said the local unit also faced some resistance owing to subdued macroeconomic data on the domestic front. At the interbank foreign exchange market, the local unit opened at 83.52 and lost further ground to trade at 83.54 against the greenback, registering a loss of 6 paise from its previous closing level. On Wednesday, the rupee appreciated 11 paise to close at 83.48 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.78, higher by 0.14 per cent. Brent crude futures, the global oil benchmark, declined 0.34 per cent to USD 82.32 per barrel. According to CR Forex Advisors MD Amit Pabari, declining US CPI with the Fed initiating the rate cut in 2024 and overall strong economic fundamentals of the Indian

RBI likely intervened in NDF to stop rupee from hitting record low: Traders

The rupee was at 83.5525 to the US dollar, only marginally away from the 83.5750 all-time low it hit in April

Rupee appreciates 5 paise to 83.54 against US dollar in early trade

The rupee appreciated 5 paise to 83.54 against the US dollar in early trade on Wednesday, boosted by positive sentiments in the domestic equity market. Forex traders said rupee is trading in a narrow range as all eyes are on the US May CPI print and the Fed rate decision on the global front and India's Consumer Price Index (CPI) on the domestic front. Moreover, the strength of the American currency in the overseas market and elevated crude oil prices weighed on the local unit and restricted the upmove. At the interbank foreign exchange market, the local unit opened at 83.56 and gained further to trade at 83.54 against the greenback in initial deals, registering an increase of 5 paise from its previous closing level. On Tuesday, the rupee settled for the day lower by 9 paise at 83.59 against the US dollar. "The Indian rupee has remained steady despite a strengthening US Dollar driven by rising US bond yields and diminished expectations of Fed rate cuts following robust US employmen

Indian firms increased forex hedging in volatile election-results week

Importers bought foreign exchange forward contracts worth $9 billion last week, a more than 70 per cent jump from the same period a year before

Rupee remains stable, volatility expectations drop as RBI maintains grip

The rupee remained in a narrow band on Monday, with likely intervention from the RBI limiting weakness in the currency, traders said

Rupee depreciates 10 paise to 83.50 against US dollar in early trade

The rupee depreciated 10 paise to 83.50 against the US dollar in early trade on Monday, largely due to the rise in the dollar index and US yields. Forex traders said uncertainty among market players was down as Narendra Modi was sworn in as Prime Minister on Sunday for a record-equalling third term. However, the strength of the American currency in the international market weighed on the local unit. At the interbank foreign exchange market, the local unit opened at 83.48 and lost further ground to trade at 83.50 against the greenback, registering a loss of 10 paise from its previous closing level. On Friday, the rupee appreciated 13 paise to 83.40 against the US dollar. According to Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP, the rupee opened at 83.50 largely due to the rise in the dollar index and US yields. "The Reserve Bank of India (RBI) should be present protecting the rupee as existing policies of the government will continue wi

Rupee, govt bonds to eye US inflation prints, Fed policy for cues

The rupee closed at 83.3725 against the US dollar on Friday, up 0.1 per cent for the week

Cheaper rupee boosting its lure as carry trade, says Bank of America

The rupee has become one of the least volatile currencies in emerging markets, aided by a long interest-rate pause by the Reserve Bank of India and record foreign exchange reserves

A model for Global South: RBI lays down goals for its 100th year

From Monetary Policy Framework review to safeguards against payment frauds & rupee internalisation, RBI lists 14 major goals

Rupee to hold above $83.50; awaits RBI policy, US non-farm payroll report

Non-deliverable forwards indicate rupee will mostly be flat from 83.4725 in the previous session

Rupee rises 1 paisa to 83.43 against US dollar in early trade

The rupee inched up 1 paisa to 83.43 against the US dollar in early trade on Thursday on the back of a weak American currency and positive domestic equity markets. Forex traders said an upward movement in the crude oil prices resisted a sharp rise in the Indian currency even as investors moved cautiously ahead of the RBI's monetary policy decision to be announced on Friday. At the interbank foreign exchange market, the local unit opened at 83.40 and slipped to 83.43 against the greenback, trading 1 paisa higher from its previous close. On Wednesday, the domestic currency settled 7 paise higher at 83.44 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.15 per cent lower at 104.06. Analysts attributed the weakness in the dollar index to a sharp fall in US Treasury yields after the latest data showed private sector job growth in May was slower than estimated, raising expectations of an interest rat

RBI action, foreign banks' dollar sales help rupee recover, ends higher

The rupee closed at 83.37 against the US dollar, up nearly 0.2% compared with its close of 83.53 in the previous session

Rupee gains 7 paise to 83.44 against US dollar during early trade

The rupee recovered from the lower level and appreciated 7 paise to 83.44 against the US dollar in early trade on Wednesday, taking cues from domestic equity markets and lower crude oil prices overseas. Forex traders said the rush for value-buying triggered an uptrend in equity markets, boosting the local currency which saw a steep decline on Tuesday after the general elections results showed a less-than-expected majority for the BJP-led NDA. At the interbank foreign exchange market, the local unit opened at 83.50 and recovered some lost ground to trade at 83.44 against the greenback, registering a rise of 7 paise from its previous close. On Tuesday, the domestic currency settled at 83.51 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.09 per cent higher at 104.14. Brent crude futures, the global oil benchmark, slipped 0.03 per cent to USD 77.50 per barrel. On the domestic equity market, the

Rupee to rely on RBI's help amid foreign outflows post PM Modi's narrow win

Non-deliverable forwards indicate the rupee will open largely unchanged from 83.53 in the previous session

Rupee, bond slump as ruling BJP fails to secure majority on its own

Market expected strong opening by the ruling alliance, say one bond dealer

Rupee depreciates 26 paise to 83.40 against US dollar in early trade

The rupee plunged 26 paise to 83.40 against the US dollar in early trade on Tuesday as initial counting for the Lok Sabha elections indicated a mixed trend. A weak trend in domestic equity markets also dented sentiments in early deals, forex traders said. According to television reports, the BJP-led NDA surged ahead with leads in more than 200 parliamentary seats out of 350 for which trends were available, with the opposition INDIA bloc ahead in 120. Counting of votes for the Lok Sabha elections began on Tuesday morning across states and Union Territories. At the interbank foreign exchange market, the local unit opened weak at 83.25 and lost further ground to trade at 83.40 against the greenback in initial deals, registering a fall of 26 paise from its previous close. On Monday, the rupee closed at 83.14 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 104.02. Brent cr

Rupee to open slightly higher as traders eye Lok Sabha election verdict

Non-deliverable forwards (NDF) indicate the rupee will open at 83.08-83.10 to the US dollar compared with 83.1425 in the previous session

Bond, rupee strengthen as exit polls predict comfortable majority for NDA

The Reserve Bank of India (RBI) intervened in the foreign exchange market to mop up dollars to contain volatility in the exchange rate, said market participants

Rupee appreciates 38 paise to 83.04 against US dollar in early trade

The rupee surged 38 paise to hit its three-month high level of 83.04 against the US dollar in early trade on Monday boosted by a robust sentiment in domestic equity markets on the back of strong macroeconomic data and exit poll results showing a third term for the Prime Minister Narendra Modi-led government. A weak American currency and inflow of foreign capital into domestic equities also supported the local unit, forex traders said. At the interbank foreign exchange market, the local unit opened at 83.09 and gained further to trade at 83.04 against the greenback in initial deals, registering an increase of 38 paise from its previous close. The rupee had breached the 83.00 level on March 18 this year. The local unit clocked the highest single-day rise since April 2023 when it appreciated by 42 paise. On Friday, the rupee declined 13 paise to close at 83.42 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies,