Page 41 - Rupee

Rupee declines 2 paise to 82.92 against US dollar in early trade today

The rupee declined 2 paise to 82.92 against the US dollar in early trade on Tuesday, tracking a stronger American currency against major overseas rivals and outflow of foreign funds from domestic capital markets. Though a downward trend in the crude oil prices cushioned the Indian currency, it was weighed down by the subdued equity market sentiment, forex traders said. At the interbank foreign exchange, the domestic currency opened at 82.90 and slipped further to trade at 82.92 against the greenback, registering a loss of 2 paise from its previous close. On Monday, the rupee settled 1 paise lower at 82.90 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.03 per cent to 103.81. Brent crude futures, the global oil benchmark, fell 0.17 per cent to USD 82.66 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 259.97 points or 0.35 per cent lower at 73,612.32 points. The broad

Rupee appreciates 4 paise to 82.87 against US dollar in early trade

The rupee appreciated 4 paise to 82.87 against the US dollar in early trade on Monday, amid a weak American currency against major rivals overseas and inflow of foreign funds in the domestic capital markets. A positive sentiment in the equity markets supported the rupee, though the local unit was weighed down by an upward movement in the crude oil prices, forex traders said. At the interbank foreign exchange, the domestic currency opened at 82.86 and slipped further to trade at 82.87 against the greenback, registering a gain of 4 paise from its previous close. On Friday, the rupee settled 2 paise lower at 82.91 against the US dollar. Gaurang Somaiya, forex and bullion analyst, Motilal Oswal Financial Services, said, the rupee gained primarily as the dollar fell against major crosses and also supported by better-than-expected GDP data on the domestic front. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.01 per cent to ...

Many countries negotiating to start rupee trade with India: Sitharaman

Finance Minister Nirmala Sitharaman on Friday said many countries are negotiating to start trade in rupee as the country's fundamentals are strong and the Indian unit has been "mostly stable" against most of the international currencies. Addressing the Pandit Hriday Nath Kunzru Memorial Lectures 2024 at JNU, Sitharaman also said India has opened up every sector for private investments and will extend fiscal and policy support to sunrise sectors like artificial intelligence, semiconductors and manufacturing using innovative tools. "Indian Rupee being mostly stable against most of the international currencies except for the US dollar, where it had volatility. But even in that case, compared to many other currencies, the Indian rupee has been far more stable even against the US dollar. "And therefore, you find countries today wanting to have trade relations built on rupee trade," said Sitharaman while addressing students and professors at her alma mater. "As a central university, JNU

Rupee appreciates 2 paise to 82.89 against US dollar in early trade

The rupee appreciated 2 paise to 82.89 against the US dollar in early trade on Thursday, tracking a weak American currency and a downward trend in the crude oil prices. The domestic unit, however, weighed down by a volatile equity market and unabated outflow of foreign funds, forex traders said. Market participants were also awaiting the domestic GDP data to be released later in the day, they said. At the interbank foreign exchange, the local currency opened at 82.88 and dipped to 82.89 against the greenback, registering a gain of 2 paise from its previous close. On Wednesday, the rupee settled 2 paise lower at 82.91 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.11 per cent lower at 103.86 on Thursday. Analysts said the dip in the American currency was an instant reaction to the US macroeconomic data which projected a slightly lower growth rate for the world's largest economy. According to Gaurang Somaiya

Rupee flat at 82.89 against dollar amid unabated outflow of foreign funds

The rupee turned flat at 82.89 against the US dollar in early trade on Wednesday, resisting pressure amid unabated outflow of foreign funds and increased month-end demand of the American currency. According to forex analysts, crude oil prices hovering above USD 83 per barrel also weighed on the domestic currency, however, positive equity markets provided cushion and capped a steep fall in the rupee. Investors were also awaiting cues from US GDP data to be released later in the day and domestic GDP (Gross Domestic Product) numbers later this week, they said. At the interbank foreign exchange, the local currency opened at 82.90 and then inched up to trade at the previous day's closing level of 82.89 against the greenback. On Tuesday, the rupee settled 1 paisa lower at 82.89 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.09 per cent higher at 103.92. Gaurang Somaiya, forex and bullion analyst Motilal Oswal ...

Rupee least volatile in 20 years, likely to touch 82 against US dollar

Market participants expect the rupee to appreciate to the 82 mark in the current calendar year given the healthy capital flows and reasonably higher balance of payment surplus.

Rupee appreciates 2 paise to 82.89 against US dollar in early trade

The rupee appreciated 2 paise to 82.89 against the US dollar in early trade on Monday on the back of foreign funds inflow and retreating crude oil prices in the overseas market. Forex traders said subdued equity market sentiment and strengthening American currency weighed on the domestic unit. Also, they said investors adopted cautious approach ahead of inflation and other macroeconomic data to be released in India as well as in the US later this week. At the interbank foreign exchange, the local currency opened at 82.88 and slipped further to 82.89 against the greenback, registering a gain of 2 paise from the previous close. On Friday, the rupee settled 6 paise lower at 82.91 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.06 per cent higher at 103.92. Brent crude futures, the global oil benchmark, was trading 0.45 per cent lower at USD 82.25 per barrel. In the domestic equity market, the 30-share BSE Sens

Rupee appreciates 4 paise to 82.92 against US dollar in early trade

The rupee stayed firm for the fourth straight session and gained 4 paise to 82.92 against the US dollar in early trade on Thursday, tracking a weak American currency against major overseas rivals. Forex trader said, however, the Indian currency was under pressure due to subdued equity market sentiment and elevated level of crude oil prices. At the interbank foreign exchange, the domestic currency opened at 82.94 and gained further to 82.92 against the greenback in initial deals, registering a gain of 4 paise from its previous close. The rupee settled 1 paisa higher at 82.96 against the US dollar on Wednesday, after witnessing a cumulative gain of 8 paise in the preceding two sessions. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.04 per cent lower at 103.87. Analysts attributed the retreating dollar index to the US Federal Reserve's minutes that reflected policy makers' cautious approach, ebbing the possibility

Rupee appreciates 6 paise to 82.91 against US dollar in early trade

The rupee sustained its upward momentum for the third straight session and gained 6 paise to 82.91 against the US dollar in early trade on Wednesday, tracking a weak American currency and positive equity market sentiment. However, selling pressure from foreign equity investors amid elevated level of crude oil prices resisted a sharp gain in the domestic currency, analysts said. At the interbank foreign exchange, the domestic currency opened at 82.90 and slipped to 82.91 against the greenback in initial deals, registering a gain of 6 paise from its previous close. The rupee settled 4 paise higher at 82.97 against the US dollar on Tuesday, a day after gaining 4 paise in the preceding trading session on Friday. The currency market was closed on Monday on account of Chatrapati Shivaji Maharaj Jayanti. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.07 per cent lower at 103.90. Brent crude futures, the global oil benchmark, .

Rupee appreciates 2 paise to 82.99 against US dollar in early trade

The rupee rose 2 paise to 82.99 against the US dollar in early trade on Tuesday, amid softening crude oil prices in the overseas market. Forex traders said, however, a strong American currency, withdrawal of foreign funds and subdued equity market sentiment kept the local unit under pressure. At the interbank foreign exchange, the domestic currency opened at 83.02 and inched up to 82.99 against the greenback in initial deals, registering a gain of 2 paise from its previous close. On Friday, the rupee settled 4 paise higher at 83.01 against the US dollar. The currency derivatives market was closed on Monday on account of Chatrapati Shivaji Maharaj Jayanti. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.13 per cent higher at 104.28. Brent crude futures, the global oil benchmark, declined 0.13 per cent to USD 83.45 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 164.66 points or 0.23 per ce

Rupee falls 2 paise to close at 83.04 against dollar amid latter's demand

The rupee consolidated in a narrow range and depreciated by 2 paise to close at 83.04 (provisional) against the US dollar on Thursday, tracking a strong American currency and elevated crude oil prices in the international market. Forex traders said the Indian currency depreciated as foreign fund outflows weighed on the rupee. However, positive domestic markets cushioned the downside. At the interbank foreign exchange market, the local unit opened at 83.00 and finally settled at 83.04 (provisional) against the dollar, down by 2 paise from its previous close. During the day, the rupee witnessed a range-bound movement. It saw an intra-day high of 82.99 and a low of 83.04 against the American currency. On Wednesday, the rupee appreciated 6 paise to close at 83.02 against the US dollar. "We expect the rupee to trade with a slight positive bias on rise in risk appetite in global markets and a negative tone in the US dollar. Overnight decline in global crude oil prices and better than ..

Rupee rises 5 paise to close at 83 against dollar on positive mkt sentiment

The rupee appreciated 5 paise to close at 83.03 (provisional) against the US dollar on Wednesday, tracking positive domestic equities. Forex traders said strength of the American currency in the overseas market and elevated crude oil prices weighed on the local unit and restricted a sharp uptick. At the interbank foreign exchange, the local unit opened at 83.11 against the greenback. It hit an intra-day high of 83.02 and a low of 83.12. It finally settled at 83.03 (provisional) against the dollar, higher by 5 paise from its previous close of 83.08. "We expect the rupee to trade with a slight negative bias on strong US dollar and risk aversion in global markets. Rising crude oil prices may also put pressure on the rupee," said Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas. Choudhary added that any bounce back in domestic markets may support the rupee at lower levels. "Traders may remain cautious ahead of India's trade balance and US retail sales data. USD-INR spot pri

Rupee settles flat at 83 against US dollar, touches intraday high of 82.98

The rupee settled flat at 83 against the US dollar on Tuesday, as the support from a rally in domestic equities was negated by a strong greenback overseas and rising crude oil prices. At the interbank foreign exchange, the rupee opened at 83 against the dollar, and touched an intraday high of 82.98 and a low of 83.02. The rupee finally settled at 83.00 (provisional), unchanged from its previous close. On Monday, the rupee appreciated 7 paise to close at 83 against the US dollar. Meanwhile, India's industrial production growth slowed to 3.8 per cent in December 2023, mainly due to poor performance of mining and power generation segments, according to official data released on Monday. Retail inflation declined to a three-month low of 5.1 per cent in January, mainly due to subdued prices of vegetables, fruits and other food items, according to government data released on Monday. "We expect the rupee to trade with a slight positive bias on positive Asian markets and fresh foreign inf

Rupee settles on flat note at 82.96 after RBI monetary policy decision

The rupee settled on a flat note at 82.96 (provisional) against the US dollar on Thursday, after the Reserve Bank decided to keep the key policy rate unchanged for the sixth time in a row to maintain a tight vigil on inflation. Forex traders said a negative trend in domestic equities weighed on investor sentiments. At the interbank foreign exchange, the rupee opened at 82.94 against the dollar and moved in a narrow range and settled for the day at 82.96 against the American currency, as the central bank retained the repo rate at 6.5 pc for the sixth consecutive time. During the day, the rupee touched an intraday high of 82.89 and a low of 83 against the US dollar. On Wednesday, the rupee appreciated 9 paise to close at 82.96 against the dollar. The Indian rupee remained flat as RBI maintained status quo in its monetary policy for the sixth consecutive time and left Repo Rate unchanged at 6.5 per cent, in line with street expectations. The central bank revised FY24 GDP projections

Rupee appreciates 2 paise to 83.03 against US dollar in early trade

The rupee appreciated 2 paise to 83.03 against the US dollar in early trade on Wednesday supported by positive domestic equities. Moreover, the weakness of the American currency in the overseas market also aided sentiments. At the interbank foreign exchange, the rupee opened at 83.03 against the dollar, registering a gain of 2 paise over its previous close. On Tuesday, the rupee declined marginally by 2 paise to close at 83.05 against the US dollar. Forex traders said the rupee is trading in a narrow range as factors such as capital inflows and stable domestic economic data supported sentiments, while hawkish FED, strong US data and global tensions weighed on the local unit. Moreover, investors were cautious as the Reserve Bank's monetary policy committee (MPC), the six-member rate-setting panel, began the deliberation on Tuesday. The central bank will announce the key interest rate decision on Thursday. Meanwhile, the dollar index, which gauges the greenback's strength against a

Rupee to gain slightly this year amid continued RBI intervention: Report

The RBI is still widely expected to cut rates later this year, but at a much slower pace than the Fed, so relative rupee strength may linger

Rupee ends weaker on dollar demand from oil firms, higher US bond yields

The rupee ended at 83.0550 against the U.S. dollar, lower by 0.17% compared to its close of 82.9175 in the previous session

Rupee hits two-week high, forward premiums choppy; volumes improve

The rupee ended at 82.9650 to the U.S. dollar, up from 83.0425 in the previous session. The currency hit its highest intraday level of 82.9325 since Jan 16

Rupee rises 6 paise to close at 83.04 against US dollar on strong sentiment

The rupee appreciated 6 paise to 83.04 (provisional) against the US dollar on Wednesday, supported by a firm trend in domestic equities. Market participants remained cautious ahead of the interim Budget, scheduled to be presented on February 1, traders said, adding that a strengthening American currency in the overseas market also capped the sharp gain in the local unit. At the interbank foreign exchange market, the local unit opened at 83.11 against the greenback. The unit hit an intraday low of 83.12 and a high of 83.01. The local unit finally settled at 83.04 (provisional) against the dollar, higher by 6 paise from its previous close. "The Indian rupee gained on Wednesday on positive domestic markets and expectations of fresh FII inflows. "We expect the rupee to trade with a slight negative bias on the strong Dollar on expectations that the US Federal Reserve will keep its monetary policy unchanged and declining odds of a rate cut in March 2024," Anuj Choudhary Research Analyst

Rupee trades in narrow range against US dollar due to rising crude prices

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.15 per cent lower at 103.45