Page 45 - Rupee

Rupee depreciates by 0.6% in August on the back of weakening Chinese yuan

The rupee settled at Rs. 82.79 per US dollar on Thursday

Rupee appreciates marginally to 82.62 against US dollar in early trade

The rupee traded in a narrow range and appreciated by 1 paise to 82.62 against the US dollar in early trade on Thursday amid a positive trend in the domestic equity market. Outflow of foreign funds and relatively higher crude prices weighed on the domestic unit, according to forex traders. Investors are also awaiting the GDP data for the first quarter of the current fiscal that will be released later in the day. At the interbank foreign exchange, the domestic unit opened at 82.65 and traded between the peak of 82.58 and the lowest level of 82.73 against the greenback. Later, the rupee was trading at 82.62 against the dollar, registering a gain of 1 paise from its previous close. On Wednesday, the rupee closed at 82.63 against the dollar. The latest US data indicated that the pace of employment growth was less than expected in August, raising hopes for easing of interest rates by the Federal Reserve. Gaurang Somaiya, forex and bullion analyst at Motilal Oswal Financial Services,

As India pushes to make rupee international, UCO Bank is in a sweet spot

State-owned lender aims to use its experience in facilitating trade with Iran

Banks park Rs 17,203 crore with RBI; liquidity pressure seen easing further

Banking system liquidity went in surplus mode on Thursday after being in deficit for three days

Rupee settles on flat note, up 1 paisa at 82.63 against US dollar

The rupee consolidated in a narrow range and settled for the day higher by 1 paisa at 82.63 against the US dollar, as the support from positive domestic equities was negated by rising American currency and recovery in crude oil prices. Forex traders said the Indian rupee witnessed modest gains on Monday on positive domestic equities. However, rising US dollars and recovery in crude oil prices capped sharp gains. At the interbank foreign exchange, the domestic unit opened at 82.58 and finally settled for the day at 82.63 against the American currency. During the day, the rupee witnessed an intra-day high of 82.52 and a low of 82.65 against the greenback. On Friday, the rupee declined by 8 paise to settle at 82.64 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 higher at 104.07. The US dollar gained on somewhat hawkish comments from the Fed Chair Jerome Powell at the Jackson Hole

Are equity markets pricing in rupee weakness and related risks?

Analysts say equity markets will begin baking in the negatives and weakness in the rupee if the US Fed chief Jerome Powell delivers a hawkish commentary at Jackson Hole later this week

Rupee appreciates 7 paise to 83.06 against US dollar in early trade

The rupee recovered from its all-time low levels and appreciated by 7 paise to 83.06 against the US dollar in early trade on Tuesday, as the American currency retreated from its elevated levels. Forex traders said the rupee is trading in a narrow range as selling pressure by foreign investors dented sentiments, while the weak tone in US dollar and positive domestic markets cushioned the downside. At the interbank foreign exchange, the domestic unit opened at 83.07, then touched a high of 83.06 against the American currency, registering a rise of 7 paise over its last close. On Monday, the rupee depreciated by 3 paise and settled for the day at an all-time low of 83.13 against the US dollar. "Rupee in the last one week has witnessed quite a bit of action but in the last couple of sessions it is consolidating in a narrow range and volatility has been low," said Gaurang Somaiya forex and bullion analyst, Motilal Oswal Financial services. Somaiya further added that the US dollar too i

Birics' development bank aims to issue first Indian rupee bond by October

The New Development Bank (NDB) issued its first rand bond in South Africa last week and could consider local currency issuance in members Brazil, Russia and United Arab Emirates

RBI nudges local banks to settle UAE trades in rupee, dirham: Report

India's trade deficit with the UAE was $21.62 billion in 2022/23, or 8.2% of its total deficit, government data shows. In July, the two countries agreed to facilitate trade in rupees instead of dollar

Era of 'corruption and scams' before 2014, now every penny goes to poor: PM

Prime Minister Narendra Modi on Monday said the era of "corruption and scams" prevailed before 2014 when the rights of the poor and their money were robbed, but now every penny is directly reaching their bank accounts. Citing a NITI Aayog report, Modi said 13.50 crore Indians have come out of BPL (below poverty line) category in five years. The data shows an increasing number of people are paying taxes, which shows their trust that the government is putting their money to good use, he said. The prime minister was virtually addressing the training-cum-orientation programme of newly-appointed teachers at the CM Rise Government Mahatma Gandhi Higher Secondary School in Madhya Pradesh capital Bhopal. He said positive news started coming up in the first year of "Amrit Kaal" itself, which shows the increasing prosperity and decreasing poverty. The NITI Aayog report said that 13.50 crore Indians have come out of BPL (below poverty line) category in five years. The number of Income Tax ..

'Bond yields could stay under pressure over the next 6 months'

The rupee could continue to see near-term volatility

Rupee outperforms its EM Asia peers even as it approaches record low

The improved economic fundamentals are why the currency is largely holding its own against the dollar - it's down just 0.5 per cent this year and is Asia's third-best performer

Expansion of Brics, use of national currency among key agendas of summit

Development dimension and issues that are so crucial and critical for the Global South, will be part of the discussion in the BRICS Summit, scheduled on August 22-24 said Dammu Ravi, BRICS Sherpa

IT, HDFC Bank, M&M send Sensex 202 pts down; Adani Ent gains 4%, RIL 1%

Stock Market LIVE: IT pocket led losses on the Sensex with HCL Tech, TCS, Wipro, Tech M and Infosys falling up to 1.2 per cent

Rupee recovers from its all-time low to 83.02 against US dollar on Friday

The rupee recovered from its all-time low levels and appreciated by 7 paise to 83.02 against the US dollar in early trade on Friday as the American currency retracted from its elevated levels. However, a muted trend in domestic equities, foreign fund outflows and rising crude oil prices weighed on the domestic unit, forex traders said. At the interbank foreign exchange, the domestic unit opened at 83.03, then touched a high of 83.02 against the American currency, registering a rise of 7 paise over its last close. In initial trade the rupee also touched a low of 83.09 against the American currency. On Thursday, the rupee settled for the day lower by 1 paisa at a fresh all-time low of 83.09 against the US dollar. Forex traders said rupee is likely to trade with a negative bias on risk aversion in global markets and firm US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.26 per cent to 103.30. Brent crude futures, the globa

Rupee ends at record low vs dollar as US Treasury yields hit 15-year high

External factors bear on the Indian unit as domestic fundamentals stay strong

Tightening India-US 10-year bond yield spread puts rupee under pressure

The yield on 10-year Indian government bonds is now only 295 basis points higher than that of US 10-year treasury bonds, the lowest since January 2007

Rupee rises 9 paise to 82.99 against US dollar, recovers from all-time lows

The rupee recovered from its all-time low levels and appreciated by 9 paise to 82.99 against the US dollar in early trade on Thursday as crude oil price retracted from its elevated levels. However, a muted trend in domestic equities and strength of the American currency in the overseas market dented investor sentiments, forex traders said. At the interbank foreign exchange, the domestic unit opened at 83.10, then touched a high of 82.99 against the American currency, registering a rise of 9 paise over its last close. On Monday, the rupee depreciated 26 paise to settle at an all-time low of 83.08 against the US dollar. Forex market was closed on Tuesday and Wednesday on account of Independence Day and Parsi New Year, respectively. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.12 per cent to 103.55. "The dollar index rose above 103 levels following safe haven buying on the back of rising uncertainty and after hawkish FOMC meeting

Rupee slips to 10-month low on dollar strength, RBI likely capped losses

The rupee ended at 82.9500 to the U.S. currency compared with a previous close of 82.8450

Rupee falls 8 paise to 82.74 against US dollar during early trade

The rupee depreciated by 8 paise to 82.74 against the US dollar in early trade on Friday, tracking a firm dollar against major rivals overseas. Analysts said, weak sentiment in the domestic equity market and elevated level of crude prices nearing USD 87 per barrel also weighed on the domestic unit. On Thursday, the Reserve Bank of India in its bi-monthly monetary policy review decided to keep key interest rate unchanged, but hinted at tighter policy if food prices drive inflation higher. The American currency regained after US consumer price inflation showed moderation in July, raising hopes that the US Federal Reserve would pause rate hike. At the interbank foreign exchange market, the local unit opened at 82.75 against the US dollar and moved in a narrow range of 82.73 to 82.76. It later traded at 82.74 against the greenback, registering a fall of 8 paise from its previous close. On Thursday, the rupee rebounded 19 paise to close at 82.66 against the US dollar after the RBI aske