Page 48 - Rupee

Rupee makes a strong comeback in 2023 on back of strong portfolio inflows

The rupee has moved within a band of Rs 81.5 per dollar to Rs 83 per dollar in six months

Police seizes Rs 5.50 lakh worth fake Indian currency in Delhi, arrests 2

Two men were arrested for allegedly printing and supplying high-quality fake Indian currency notes in Delhi and NCR, police said on Tuesday. One of the accused planned to print fake Indian currency notes (FICN) as a means to earn easy money. He was inspired by the web series "Farzi", they said. The accused were identified as Tajeem and Irshad of Uttar Pradesh's Kairana district. Fake currency equivalent to Rs 5,50,000 (Rs 5.50 lakh) -- all in Rs 2,000 denomination -- was recovered from the pair, they said. The accused printed and circulated currency notes of Rs 2,000 denomination to take advantage of its phasing out. The police received a tip-off on June 21 that a member of a gang circulating fake Indian currency would come to Alipur to deliver a consignment. A trap was laid and Tajeem apprehended with high-quality FICN, equivalent to Rs 2,50,000 (2.50 lakh), was recovered from him," Special Commissioner of Police (Special Cell) HGS Dhaliwal said. Tajeem revealed that he had recei

Rupee climbs to 81.96 against US dollar after gains in domestic equities

The rupee recovered 8 paise to 81.96 against the US dollar in the early trade on Tuesday after gains in domestic equities and a weak greenback in overseas markets. The domestic currency opened higher at 82.02 against the dollar at the interbank foreign exchange market. It moved in a tight range of 81.95 to 82.02 in the early trade. The rupee traded at 81.96 against the US dollar at 9.45 am, registering a gain of 8 paise over the previous close of 82.04. The dollar index, which gauges the greenback's strength against a basket of six currencies, traded lower by 0.07 per cent at 102.63. Crude oil price benchmark Brent crude was up 0.44 per cent at USD 74.51 per barrel. "... 81.75-55 level appears more possible now, and we will switch to upside view if above 82.1 only," Anand James, Chief Market Strategist at Geojit Financial Services, said. In the domestic equity market, the 30-share BSE Sensex rebounded 187.41 points or 0.30 per cent to 63,157.41 points while the broader Nifty adv

Rupee turning out to be the most stable currency, says RBI report

"Inflation slowing down personal consumption expenditure"

Rupee likely to strengthen to 80-per-dollar in 2024: BofA India treasurer

The rupee is up nearly 1% against the dollar so far this year against depreciation in most other Asian currencies

Rupee bounces back on strong FPI inflows, settles at 82.04 against dollar

India's GDP growth rose sharply to 6.1 per cent in January-March from 4.5 per cent in October-December

Rupee dips tracking Asia FX, eyes US Fed chief testimony this week

BENGALURU (Reuters) - MUMBAI, June 19 (Reuters) - The Indian rupee ended little changed against the dollar on Monday, shrugging off weak regional cues as traders sought further clarity on the outlook for interest rates in the U.S.

Biggest fund manager in India expects rupee to end its five-year slide

The currency will probably strengthen to 80 per dollar by the end of the year, according to Namrata Mittal, chief economist at SBI Mutual Fund

Corporate dollar inflows boost rupee to a one-month high; gains 27 paisa

The Reserve Bank of India (RBI) has been active in the foreign exchange market in recent times and mopped up dollars to boost its foreign exchange reserves

Rupee hits one-month high against dollar on corporate dollar inflows

Indian rupee hit a one-month high against the U.S. currency on Wednesday led by likely corporate dollar inflows, five traders said

Rupee-kyat trade arrangement negotiations may conclude by Jun-end: Myanmar

Early May, Adani Ports and Special Economic Zone (APSEZ) had said that it had concluded the Myanmar Port sale for a consideration $30 million

Rupee rises 1 paisa against US dollar to close at 82.62 ahead of RBI meet

The rupee consolidated in a narrow range to settle just 1 paisa higher at 82.62 (provisional) against the US dollar on Tuesday amid a muted trend in domestic equities. The rupee is trading in a narrow range as market participants are vigilant ahead of the RBI's monetary policy later this week. The central bank is widely expected to leave the repo rate unchanged at 6.5 per cent. A strengthening greenback in the international markets also kept pressure on the domestic unit, forex traders said. At the interbank foreign exchange market, the local unit opened at 82.56 against the US dollar and settled at 82.62 (provisional), up 1 paisa over its previous close. During the day, the domestic unit witnessed an intra-day high of 82.56 and a low of 82.66. On Monday, the rupee closed at 82.63 against the US currency. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.12 per cent to 104.12. Global oil benchmark Brent crude futures declined 1.60

Rupee drops 37 paise against US dollar ahead of June monetary policy meet

The dollar index gained strength on Monday and most Asian currencies weakened against the dollar

Rupee appreciates by 33 paise to close at 82.42 against US dollar

The rupee appreciated by 33 paise to close at 82.42 (provisional) against the US dollar on Thursday, as positive macroeconomic data strengthened investor sentiments. At the interbank foreign exchange market, the local unit opened at 82.54 against the US dollar and settled at 82.42 (provisional), up 33 paise over its previous close amid sustained foreign fund inflows. During the day, the domestic unit witnessed an intra-day high of 82.36 and a low of 82.54. On Wednesday, the rupee closed at 82.75 against the US currency. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.20 per cent to 104.12. Global oil benchmark Brent crude futures advanced 0.17 per cent to USD 72.72 per barrel. "The Indian rupee strengthened amid stellar economic data and foreign fund inflows. It has clocked the best single-day gain in almost two months following dollar inflows and lower commodity prices," Dilip Parmar, Research Analyst, HDFC Securities said. For

Rupee rises 6 paise to 82.54 against US dollar in early trade on Monday

The rupee gained 6 paise to 82.54 against the US dollar in early trade on Monday, tracking positive trends in domestic and global markets as well as inflows of foreign funds. The dollar index is trading almost flat at 104 level with forex traders awaiting an agreement on the US debt ceiling between US President Joe Biden and Republican House Speaker Kevin McCarthy. At the interbank foreign exchange, the domestic unit opened stronger at 82.57 against the dollar and hit the highest level of 82.51. Later, it slipped to 82.54, registering a gain of 6 paise over its previous close. On Friday, the rupee closed at 82.60 against the US currency. Anand James, Chief Market Strategist at Geojit Financial Services, said in his rupee outlook that the Indian currency is likely to reach the level of 82.25 against the US currency. "Inability to float above 82.70 has elevated the risk of revisit of 82.45. Breach of the same may expose 82.2. Until this holds, we may pull back into the sideways tren

Rupee falls 0.2% hits 13-week low, weighed down by strength in dollar

Indian rupee hit a 13-week low, weighed down by broad strength in the dollar, while markets looked for developments on the U.S. debt ceiling and trajectory of rate hikes in the world's largest economy

Rupee records worst week since mid-March as US dollar regains strength

MUMBAI (Reuters) - The Indian rupee fell to a three-week low on Friday and registered its worst week in eight, dragged down by a broader strength in the dollar index.

US dollar hits 300 rupees barrier amidst protests in cash-strapped Pakistan

For the first time in Pakistan's history, the US dollar on Thursday hit the 300 rupees barrier against the local currency in the interbank as well as the open market as the cash-strapped country faced political turmoil following the arrest of former prime minister Imran Khan. The Pakistani rupee has taken a big hit since Tuesday as violent protests broke out in different parts of the country following the arrest of Khan in a corruption case.

RBI asks citizens to settle fee, charges on forex prepaid cards in rupee

The internationalisation of the domestic currency would make domestic monetary policy more challenging but the option of compromising on growth by playing it safe is clearly not an optimal choice

India, Russia suspend negotiations to settle trade in rupees: Report

India and Russia have suspended efforts to settle bilateral trade in rupees, after months of negotiations failed to convince Moscow to keep rupees in its coffers