Page 42 - Rupee

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

Rupee to appreciate to 82 per dollar in CY24, predicts CareEdge Ratings

The rupee settled at Rs 83.12 per Dollar on Wednesday. It moved in a narrow range of Rs 83.07 per Dollar to Rs 83.17 a Dollar in the current week as the RBI and oil companies continue to absorb inflow

Rupee trades narrow, settles 2 paise higher at 83.13 against dollar

The rupee stayed range-bound and settled 2 paise (provisional) higher at 83.13 against the US dollar on Wednesday. Forex traders said the rupee is trading in a narrow range as positive domestic markets and a soft US dollar supported the rupee while rising crude oil prices and foreign fund outflows capped gains. At the interbank foreign exchange market, the local unit opened at 83.15 against the greenback. The unit oscillated between an intraday low of 83.16 and a high of 83.11 against the greenback and finally settled at 83.13 against the dollar, higher by 2 paise (provisional) from its previous close. On Tuesday, the rupee had settled at 83.15 against the US dollar. "We expect the rupee to trade with a slight positive bias as the US Dollar has softened ahead of PMI data and gains in the Japanese Yen. Markets expect PMI data to be better than the previous month's reading. However, concerns over the Red Sea region and elevated crude oil prices may cap the sharp upside," said Anuj ..

Rupee opens on flat note against US dollar in early trade on Wednesday

The rupee opened on a flat note and appreciated 1 paisa to 83.14 against the US dollar in the morning session on Wednesday, amid a muted trend in domestic equities. Forex traders said the rupee is trading with a slight negative bias amid selling pressure from foreign investors. At the interbank foreign exchange, the rupee opened at 83.15 against the dollar, then rose to 83.14, registering a rise of 1 paisa over its previous close. In the initial trade, the rupee touched an early low of 83.16 against the US dollar. On Tuesday, the rupee had settled at 83.15 against the US dollar. "Rupee was weakened on Tuesday as FPIs withdrew Rs 3,115 crores from share markets after a 1.5 per cent fall in indices. Wednesday's opening may pave the way to a move beyond 83.20 although in-flows are still there to counter any major demand from FPIs," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. Meanwhile, Brent crude futures, the global oil benchmark

Rupee falls 9 paise to close at 83.16 against dollar on weak sentiment

The rupee depreciated 9 paise to 83.16 (provisional) against the US dollar, as elevated crude oil prices and weak domestic equities weighed on investor sentiments. Forex traders said foreign fund outflows also put pressure on the rupee. However, a weak US Dollar overseas cushioned the downside. At the interbank foreign exchange market, the local unit opened at 83.11 and finally settled at 83.16 (provisional) against the dollar, down by 9 paise from its previous close. During the day, it witnessed an intraday high of 83.06 and a low of 83.17 against the American currency. On Friday, the rupee settled at 83.07 against the US dollar. "We expect the rupee to trade with a slight negative bias on weak domestic markets and selling pressure from foreign investors. "Any further increase in crude oil prices may also weigh on the rupee. However, positive global markets and a weak Dollar may support the rupee at lower levels. Traders may remain cautious ahead of Richmond manufacturing index

Rupee depreciates 6 paise to 83.13 against US dollar in early trade

The rupee depreciated 6 paise to 83.13 against the US dollar in the morning session, amid elevated crude oil prices and dollar demand from importers. Forex traders said the rupee is trading in a narrow range as the support from positive domestic equities was negated by foreign fund outflows. At the interbank foreign exchange, the rupee opened at 83.11 against the dollar, then fell to 83.13, registering a fall of 6 paise from its previous close. In the initial trade, the rupee also touched an early high of 83.09 against the US dollar. On Friday, the rupee settled at 83.07 against the US dollar. Meanwhile, Brent crude futures, the global oil benchmark, was trading lower by 0.03 per cent to USD 80.04 per barrel. "Brent oil crossed USD 80 per barrel after strong gains on supply concerns due to disruptions in the US and Russia triggered strong gains while caution before central bank meetings also kept prices muted," said Anil Kumar Bhansali, Head of Treasury and Executive Director Fin

Reserve Bank of India net sells $1.9 billion in November, shows data

The rupee depreciated by 0.17 per cent in November. The RBI's net outstanding forward sales by the end of November stood at $11.9 billion, against $14.6 billion in October

Rupee depreciates 3 paise to 83.15 against US dollar in early trade

The rupee depreciated 3 paise to 83.15 against the US dollar on Wednesday, tracking a strong greenback against major rivals overseas and massive selling in domestic equity markets. However, inflow of foreign funds in domestic equity markets and softening crude oil prices in the international markets resisted a steep fall in the domestic currency, forex traders said. At the interbank foreign exchange, the domestic currency opened at 83.13 and slipped further to 83.15 against the dollar, registering a loss of 3 paise from its previous close. On Tuesday, the rupee declined 26 paise to settle at 83.12 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.08 per cent higher at 103.19 on Wednesday. Analysts attributed unabated gains in the US dollar to safe-haven demands amid concern over disruption in global trade through the Red Sea route. Brent crude futures, the global oil benchmark, declined 0.47