Page 39 - Rupee

Rupee appreciates 3 paise to 83.42 against US dollar in early trade

The rupee appreciated 3 paise to 83.42 against the US dollar in early trade on Monday, supported by a firm trend in domestic equities. Forex traders said the strength of the American currency in the overseas market and foreign fund outflows weighed on the local unit and restricted the up move. At the interbank foreign exchange market, the local unit opened at 83.43 against the greenback. It later touched 83.42 in initial trade, registering a rise of 3 paise from its previous close. On Friday, the rupee inched up 1 paisa to settle at 83.45 against the US dollar. Indian rupee has not been able to make a dent against the dollar as FPIs and oil companies continue to buy US dollars and ensure it remains range bound, as RBI protects it from depreciation beyond 83.50, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 105.16, .

Rupee to track Asian peers; bonds eye moves in US yields, foreign flows

The rupee closed marginally higher at 83.4225 on Friday. It logged a slight weekly loss compared to most Asian currencies, which rose week-on-week

Rupee rises 9 paise to 83.37 against US dollar during early trade

The rupee climbed 9 paise to 83.37 against the US dollar in early trade on Friday, tracking strong sentiment in the domestic equity markets and a weak American currency against major rivals overseas. Forex traders said the outflow of foreign funds and elevated level of crude oil prices, however, weighed on the Indian currency. At the interbank foreign exchange, the domestic unit opened strong at 83.40 and touched the intra-day peak of 83.36 against the greenback. The local unit later traded at 83.37 against the dollar in the morning deals, registering a gain of 9 paise from its previous closing level. The rupee had settled 3 paise lower at 83.46 against the dollar on Thursday. According to Gaurang Somaiya, Forex and bullion analyst, Motilal Oswal Financial Services Ltd, the dollar was weighed down against major crosses after the US Federal Reserve kept the key interest rate unchanged for the sixth consecutive time. Also, the ongoing pressures and a tight labour market indicated a

Indian rupee to keep in a tight range amid RBI intervention: Report

The RBI has kept the rupee in a narrow range against the dollar and is only down about 0.3% this year unlike most of its Asian peers which have weakened a lot more

Rupee flat at 83.43 against dollar in trade as Fed keeps rate unchanged

The rupee traded on a flat note at 83.43 against the US dollar in early trade on Thursday amid a strong greenback after the American central bank decided to keep interest rate unchanged. Forex traders said that an upward movement in the crude oil prices also pressured the Indian currency. However, it found support from positive domestic equity market sentiment and inflow of foreign capital. At the interbank foreign exchange, the domestic unit opened strong at 83.41 but later slipped to its previous closing level of 83.43 against the dollar. The rupee had settled 2 paise higher at 83.43 against the dollar on Tuesday, a day after losing 7 paise on Monday. Foreign exchange market was closed on Wednesday on account of Maharashtra Day. On Wednesday, the US Federal Reserve decided to maintain the status quo on the benchmark interest rates, which was in line with the market expectations. Analysts said that market participants will keep a close watch on the US non-farm payroll data to be

Rupee depreciates 3 paise to 83.48 against US dollar in early trade

The rupee depreciated 3 paise to 83.48 against the US dollar in early trade on Tuesday amid a strong American currency against major Asian rivals and an upward movement in the crude oil prices. However, positive sentiment in the domestic equity markets and some inflow of foreign capital in the Indian equities capped the fall in the Indian currency, forex traders said. At the interbank foreign exchange, the domestic unit opened at 83.46 against the greenback and then slipped further to 83.48, registering a loss of 3 paise compared to its previous closing level. On Monday, the rupee had settled 7 paise lower at 83.45 against the US dollar. Gaurang Somaiya, Forex and bullion analyst, Motilal Oswal Financial Services Ltd, said the rupee weakened amidst rising concerns that the US Federal Reserve could delay interest rate cuts as the country's inflation stayed above the central bank's 2 per cent target. "US economy remains resilient and with a hawkish stance from the Fed, the dollar ..

Rupee depreciates 5 paise to 83.43 against US dollar in early trade

The rupee depreciated 5 paise to 83.43 against the US dollar in early trade on Monday amid a strong American currency overseas and withdrawal of foreign funds from domestic equity markets. However, positive sentiment in the domestic equity markets and retreating crude oil prices in international markets supported the Indian currency at lower level, forex traders said. At the interbank foreign exchange, the domestic unit opened weak at 83.39 against the greenback and then slipped further to 83.43, registering a loss of 5 paise compared to its previous closing level. On Friday, the rupee had declined 10 paise to close at 83.38 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, increased 0.05 per cent to 105.86. Analysts attributed the strengthening dollar to the positive global trends amid firm growth in the world's largest economy, which renewed hope for a reduction in the interest rate by the US Federal ...

RBI's tight grip on Rupee boosts its allure for carry trades: Fidelity

The rupee rewards investors with a high yield than regional peers, and together with low volatility, makes it arguably one of the most attractive currencies on the planet, Paul Greer said in interview

The path ahead for the rupee

The hottest conversation topic on every bank's treasury floor is internationalisation of the rupee

Rupee appreciates 6 paise to 83.30 against US dollar in early trade

The rupee appreciated 6 paise to 83.30 against the US dollar in early trade on Tuesday, supported by a firm trend in domestic equities. At the interbank foreign exchange market, the local unit opened at 83.37 against the greenback. It later touched 83.30 in initial trade, registering a rise of 6 paise from its previous close. On Monday, the rupee appreciated by 8 paise to close at 83.36 against the US dollar. "There has been no adverse geopolitical development in the last 24 hours and that has helped restore some confidence and improved market sentiment," IFA Global Research Academy said in a research note. "Markets are looking forward to earnings from US' big tech companies and if they meet or beat expectations, we could see risk sentiment remain stable for some time despite elevated US yields," the note said, adding that the rupee is likely to trade in 83.25-83.40 range with sideways price action. Meanwhile, the dollar index, which gauges the greenback's strength against a baske

Rupee appreciates 5 paise to 83.39 against US dollar in early trade

The rupee appreciated 5 paise to 83.39 against the US dollar in early trade on Monday, supported by a firm trend in domestic equities. Forex traders said the local unit gained ground as the American currency and crude oil prices retreated from their elevated levels. At the interbank foreign exchange market, the local unit opened at 83.40 against the greenback. It later touched 83.39 in initial trade, registering a rise of 5 paise from its previous close. On Friday, the rupee appreciated 8 paise to close at 83.44 against the US dollar. Forex traders said there was likely some intervention by the Reserve Bank of India which resulted in the pullback of the local unit. "The Indian forex reserves fell to USD 643.162 billion after rising for 7 weeks in succession as the Reserve Bank of India (RBI) would have sold dollars to rein in the rupee," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. Meanwhile, India's forex reserves dropped by USD

Rupee appreciates 12 paise to 83.49 against US dollar in early trade

The rupee rebounded from its all-time low levels and appreciated 12 paise to 83.49 against the US dollar in early trade on Thursday, supported by a firm trend in domestic equities and tracking gains in Asian currencies. Forex traders said the local unit gained ground as the American currency retreated from its elevated levels. At the interbank foreign exchange market, the local unit opened at 83.51 against the greenback. It later touched 83.49 in initial trade, registering a rise of 12 paise from its previous close. On Tuesday, the rupee plunged 17 paise to hit its lowest level of 83.61 against the US dollar for the second time in four weeks. Forex and money markets were closed on Wednesday on account of 'Ram Navami'. The Indian rupee which closed at record lows on Tuesday opened around 83.51 this morning as Asian currencies gained a bit against the dollar, said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. The rupee is likely to trad

Rupee hits new low of 83.54 against US dollar amid global worries

The Reserve Bank of India likely intervened in the foreign exchange market by selling dollars through state-owned banks, which protected the rupee from further depreciation

Rupee depreciates 9 paise to 83.53 against US dollar in early trade

The rupee depreciated 9 paise to 83.53 against the US dollar in early trade on Tuesday, weighed down by a strong American currency and elevated crude oil prices. Forex traders said a negative trend in domestic equities and sustained foreign fund outflows also dented investor sentiments. According to interbank foreign exchange, the rupee opened at 83.51 against the dollar and touched a low of 83.53 in the initial trade, registering a fall of 9 paise over its previous close. On Monday, the rupee declined 6 paise to settle at 83.44 against the US dollar. Rupee fell further as foreign portfolio investors continued to buy dollars and sell stocks on risk aversion due to Middle East tensions and US yields heading higher, said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. "Need to watch what the Reserve Bank of India (RBI) does to counter the rupee depreciation," Bhansali added. Meanwhile, the dollar index, which gauges the greenback's streng

Rupee settles at record closing low amidst escalating tensions in West Asia

However, Indian rupee on Monday performed better than the majority of the Asian currencies

Rupee declines 7 paise to 83.38 against US dollar in early trade today

The rupee depreciated 7 paise to 83.38 against the US dollar in early trade on Friday, weighed down by a negative trend in domestic equities and elevated crude oil prices. Forex traders said the strength of the American currency in the overseas market also dented investor sentiments. At the interbank foreign exchange, the rupee opened at 83.36 against the dollar and touched a low of 83.38 in the initial trade, registering a fall of 7 paise over its previous close. On Wednesday, the rupee closed flat at 83.31 against the US dollar. Stock, money, commodity, and derivative markets were closed on Thursday on account of Eid-Ul-Fitr. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 105.35, higher by 0.07 per cent. Brent crude futures, the global oil benchmark, rose 0.58 per cent to USD 90.26 per barrel. "Brent oil continued to remain in the higher side of the curve on Middle East jitters as Iran promised to retaliate for a .

Rupee appreciates 15 paise to 83.16 against US dollar in early trade

The rupee appreciated 15 paise to 83.16 against the US dollar in early trade on Wednesday, tracking its Asian peers amid a positive trend in domestic equities. Forex traders said investor sentiments got a boost as crude oil prices retreated from their elevated levels. At the interbank foreign exchange market, the local unit opened at 83.23 against the greenback. It later touched 83.16 in initial trade, registering a rise of 15 paise from its previous close. On Monday, the rupee settled on a flat note at 83.31 against the US dollar. Forex and money markets were closed on Tuesday on account of 'Gudhipadwa'. "The Indian rupee is expected to rise to 83.21 levels as the dollar remained sideways and Asian currencies rose this morning," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.14. Brent crude futures, the globa

Rupee rises 8 paise to 83.23 against US dollar in early trade today

The rupee appreciated 8 paise to 83.23 against the US dollar in early trade on Monday, supported by positive domestic equities and fresh foreign fund inflows. Forex traders said investor sentiments got a boost as crude oil prices retreated from their elevated levels, while the strength of the American currency in the overseas market weighed on the local unit and restricted the up move. At the interbank foreign exchange market, the local unit opened at 83.27 against the greenback. It later touched 83.23 in initial trade, higher 8 paise from its previous close. On Friday, the rupee appreciated 8 paise to close at 83.31 against the US dollar as the Reserve Bank of India kept the benchmark interest rate unchanged at 6.5 per cent for the seventh time in a row. The rupee is expected to trade in a range as the Reserve Bank continues to protect it from falling further while inflows may bring it to 83.20, Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors

RBI reiterates FX exposure must for rupee exchange derivative transactions

The RBI on Thursday delayed the implementation of its consolidated directions for exchange-traded currency derivatives by a month

Rupee declines 6 paise to 83.45 against US dollar in early trade today

The rupee depreciated 6 paise to 83.45 against the US dollar in early trade on Friday, as market participants remained cautious ahead of the announcement of the Reserve Bank of India's rate-setting panel's decision. Forex traders said the local unit was also weighed down by a strong American currency and elevated crude oil prices. Moreover, a negative trend in domestic equities and sustained foreign fund outflows also dented investor sentiments. According to interbank foreign exchange, the rupee opened at 83.44 against the dollar and touched a low of 83.45 in the initial trade, registering a fall of 6 paise over its previous close. On Thursday, the rupee recovered 14 paise to close at 83.39 against the US dollar. Traders said market participants are awaiting the RBI MPC policy decision for further cues. The Reserve Bank's rate-setting panel on Wednesday started its three-day deliberations on the next set of monetary policy. The decision taken at the meeting of the Reserve Bank ...