Page 48 - Rupee

Rupee hits six-week low against US dollar, loses 1% against greenback

Stronger-than-expected job data firmed up expectation of further interest rate hike by the US Federal Reserve

Decoded: What is internationalisation of rupee? How will it benefit India?

What does the internationalisation of the Indian rupee mean and how will it make India a competitor of the US dollar? Decoded here

Top Headlines: Tax credit on Council agenda, rupee internationalisation

Business Standard brings you the top headlines at this hour

Rupee to extend decline as US hiring data points to more Fed rate hikes

Non-deliverable forwards indicate rupee will open at around 82.66-82.70 to the U.S. dollar compared with 82.51 in the previous session

India's campaign to internationalise rupee gets off to a slow start

The Reserve Bank of India has allowed more than a dozen banks to settle trades in rupees with 18 countries since last year and is encouraging big oil exporters to accept the Indian currency

Rupee slips to 1-month low on hints of Federal Reserve interest rate hikes

As exporters took measures to protect their receivables, forward premiums declined from a recent peak of 1.87 per cent to 1.60 per cent, dealers said

Top Headlines: RBI's path to internationalise rupee, data protection bill

Business Standard brings you the top headlines at this hour

Rupee weakens by 21 paise as oil importers' demand for dollar grows

A stop loss is a type of order that investors or traders use to limit their potential losses in the market, said experts

Rupee depreciates 7 paise to 82.08 against US dollar amid strong demand

The rupee depreciated 7 paise to 82.08 against the US dollar in early trade on Wednesday, weighed down by strength of the American currency in the overseas market amid an increased demand for the dollar from importers. Sustained foreign fund inflows supported the local unit and contained the fall. At the interbank foreign exchange, the domestic unit opened at 82.05, then fell to 82.08, registering a decline of 7 paise over its last close. On Tuesday, the rupee had settled at 82.01 against the dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.08 per cent to 103.12. Brent crude futures, the global oil benchmark, fell 0.59 per cent to USD 75.80 per barrel. "Rupee has been ranged in the past few days with dips to the USD getting bought by RBI/oil companies. In-flows continue to be showing strong momentum as FPIs continue to be in a strong buying mode in respect of equities and debt," said Anil Kumar Bhansali, Head of Treasury a

Top headlines: I-T lens on reporting entities, rupee to face headwinds

Business Standard brings you the top headlines at this hour

Rupee up 4 paise at 81.87 against dollar on bullish trend in domestic mkt

The rupee gained 4 paise to 81.87 against the US dollar in early trade on Tuesday supported by a bullish trend in domestic markets and steady foreign fund inflows. However, a strong US dollar and surge in crude oil prices capped sharp gains for the local unit, forex traders said. At the interbank foreign exchange, the domestic unit opened at 81.90 against the dollar and then rose to 81.87, registering a gain of 4 paise over its previous close, as benchmark indices touched all-time highs. In initial trade, the rupee also touched a low of 81.95 against the American currency. On Monday, the rupee closed at 81.91 against the US currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.03 per cent to 103.01. Brent crude futures, the global oil benchmark, advanced 0.63 per cent to USD 75.12 per barrel. Traders further said the rupee's direction will likely be influenced by the release of the Federal Open Market Committee (F

Indian rupee may inch up; RBI remains in way of large appreciation

The rupee on Monday reached a near two-month high of 81.75 on dollar offers by foreign banks, which market participants said was likely related to their custodial clients and to a one-off inflow

Rupee likely to face stronger headwinds this month: Business Standard poll

Analysts expect dollar index to rise with more rate hikes in the US

Rupee appreciates 33 paise to 81.77 against US dollar in early trade

The rupee gained 33 paise to 81.77 against the US dollar in early trade on Monday supported by sustained foreign fund inflows and bullish momentum in domestic equities as benchmark indices touched all-time highs. At the interbank foreign exchange, the domestic unit opened at 82.01 against the dollar and then rose to 81.77, registering a gain of 33 paise over its previous close. On Friday, the rupee closed at 82.10 against the US currency. Forex traders said the rupee is trading on a positive note on significant foreign fund inflows and positive macro economic indicators. According to Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, the rupee is likely to trade in the range of 81.90 to 82.20 during the day. "... Rupee looks to remain in the above range as Macro data from India comes out much better than most other countries. The GST figures, the core sector growth were all better than expected," Bhansali said. Foreign Portfolio Investor

Rupee reports best month since Jan on back of strong foreign fund inflows

Strong macroeconomic fundamentals like higher growth, cooling inflation, strong earnings have attracted over $3.5 billion of inflows

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