Page 51 - Rupee

Rupee likely to fall on hawkish Fed Reserve comments, higher oil prices

The non-deliverable forwards indicated the rupee would open around 82.60-82.62 per dollar, compared with the 82.4925 closing in the previous session

Rupee appreciated 4 paise to 82.66 against US dollar in early trade

The rupee appreciated 4 paise to 82.66 against the US dollar in early trade on Wednesday, supported by a firm trend in domestic equities ahead of the Reserve Bank of India's monetary policy decision. However, investors remained concerned over rising crude prices in the overseas markets and persistent foreign capital outflows, forex traders said. At the interbank foreign exchange, the domestic unit opened strong at 82.67 against the dollar, then inched higher to 82.66, a rise of 4 paise over its last close. In early deals, it was moving in a close range of 82.66-82.67. On Tuesday, the rupee rose 6 paise to close at 82.70 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.10 per cent to 103.33. Brent crude futures, the global oil benchmark, advanced 0.18 per cent to USD 83.84 per barrel. The Reserve Bank of India's monetary policy decision on Wednesday will be closely watched by investors for furt

Rupee eyes RBI policy decision, weighs US Federal Reserve's comments

The non-deliverable forwards indicate an opening of 82.68-82.74 for the rupee, compared with 82.70 in the previous session

Rupee gains 10 paise to 82.66 against US dollar on weaker greenback

The rupee appreciated 10 paise to 82.66 against the US dollar in early trade on Tuesday on the back of a positive trend in domestic equities and relatively weaker greenback. However, foreign capital outflows restricted the gain in the domestic unit, forex traders said. At the interbank foreign exchange, the domestic unit opened strong at 82.68 against the dollar, then gained further ground to 82.66, a rise of 10 paise over its last close. In early deals, it was moving in a tight range of 82.69-82.65. On Monday, the rupee fell 68 paise to close at a one-month low of 82.76 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.15 per cent to 103.46. Brent crude futures, the global oil benchmark, advanced 0.98 per cent to USD 81.78 per barrel. This week, the key trigger for the markets is likely to be the decision of the RBI's Monetary Policy Committee on interest rate that will be announced on ...

Rupee falls 1% as robust US jobs data stokes Fed rate hike fears

Globally, investors fear that the US Fed will have to continue raising interest rates for longer than expected to cool labour markets and bring down inflation

Bond yields and rupee to closely track RBI's monetary policy meet

The RBI is widely expected to raise interest rates by 25 basis points (bps) on Wednesday, which many traders believe will be the last before a prolonged pause

FPI outflows, Adani group's FPO cancellation sour mood for rupee

The domestic currency closed at 82.18 per US dollar as against 81.93 per dollar on Wednesday

Rupee closes at 82.20 against US dollar amid foreign fund outflows

The rupee fell 40 paise to close below the 82 per US dollar mark on Thursday, weighed down by foreign fund outflows and corporate dollar demand. At the interbank foreign exchange market, the rupee opened at 81.81 against the greenback, and touched an intra-day high of 81.71 and a low of 82.20. It finally settled at 82.20 (provisional), down 40 paise over its previous close. On Wednesday, the rupee had appreciated 8 paise to close at 81.80 against the dollar after Finance Minister Nirmala Sitharaman presented the Union Budget for 2023-24. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.12 per cent lower at 101.10, after the US Fed hiked the interest rate along expected lines by 25 basis points to 4.50-4.75 per cent. Global oil benchmark Brent crude futures declined 0.14 per cent to USD 82.72 per barrel. "The Indian rupee became the worst performer among Asian currencies amid foreign fund outflows and corporate dollar demand

Rupee likely to open higher after Fed rate hike, local equities in focus

Rupee likely to open higher after Fed rate hike, local equities in focus

TMS Ep360: Budget for common man & corporates, Shankar Sharma, govt revenue

What does Budget 2023 have for the common man? How will Budget impact corporate India? What does Budget mean for markets & investors? Where does the rupee come from and where does it go? Answers here

Budget at a glance: Here're the key numbers from Union Budget 2023

A snapshot of the key numbers released by Finance Minister Nirmala Sitharaman in Union Budget 2023

Budget 2023-24: Where does the rupee come from, and where does it go?

Budget 2023: The largest share of the Centre's expenditure goes towards paying the interest on borrowings

Rupee slides 43 paise on risk aversion ahead of Budget, Fed statement

Govt bond yields decline ahead of Budget statement as traders feel the fall in prices over the past week had been overdone

Promoting int'l trade in rupee to help reduce currency volatility: Survey

Promoting international trade in the domestic currency will help in protecting the rupee from volatility and reduce cost of doing business in the global markets, Economic Survey said on Tuesday. The survey suggested that it could assist Indian exporters in getting advance payments in rupee from overseas clients and in the longer term promote the domestic currency as an international currency once the rupee settlement mechanism gains traction. In July 2022, the Reserve Bank of India issued a circular permitting an additional arrangement for invoicing, payment, and settlement of exports/imports in Indian rupees (INR) to promote the growth of global trade with emphasis on exports from India and to support the increasing interest in the global trading community in rupee as an international currency. The framework involves invoicing of exports and imports in rupee, market-determined exchange rates between the currencies of the trading partner countries, and settlement through special rup

Rupee depreciates by 41 paise to close at 81.93 against US dollar

The rupee depreciated by 41 paise to close at 81.93 (provisional) against the US dollar on Tuesday after the Economic Survey 2022-23 said the domestic unit may remain under pressure on account of plateauing of exports and subsequent widening of current account deficit. Forex traders said significant foreign fund outflows and a muted trend in domestic equities also dented investor sentiment. At the interbank foreign exchange, the domestic unit opened weak at 81.61 against the dollar, and lost further ground to fall below the 82 per US dollar level. The rupee finally ended at 81.93, registering a decline of 41 paise over its last close. During the session, the local unit witnessed an intra-day high of 81.58 and a low of 82.07 against the US dollar. In the previous session on Monday, the rupee settled at 81.52 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.15 per cent to 102.43. Brent cr

Pakistan's fate at stake as rupee plunges to 250 against the dollar: Report

Pakistani's economy has reached rock bottom as the rupee plummeted to 250 against the US dollar and the value of currency depreciated

Rupee falls 10 paise to 81.69 against US dollar amid FPI outflows

The rupee depreciated 10 paise to 81.69 against the US dollar in early trade on Monday, weighed down by significant foreign fund outflows. At the interbank foreign exchange, the domestic unit opened weak at 81.69 against the dollar, registering a decline of 10 paise over its last close. In the previous session on Friday, the rupee settled at 81.59 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.01 per cent to 101.92. Brent crude futures, the global oil benchmark, declined 0.17 per cent to USD 86.51 per barrel. The focus on the Union Budget and the US Federal Reserve's policy decision will dictate the course for the local unit on Monday, traders said. "Asian and emerging market peers have started with gains and could aid investor sentiments. However, demand from importers and the Reserve Bank of India's presence could cap gains," said Sriram Iyer, Senior Research Analyst at Reliance ...

Rupee closes at 81.53 against US dollar amid heavy selling pressure

The rupee appreciated 8 paise to close at 81.53 (provisional) against the US dollar on Friday amid a firm American currency against major rivals overseas. However, heavy selling pressure in the domestic equity markets and unabated foreign fund outflows restricted the gains in the local currency, forex traders said. At the interbank foreign exchange market, the rupee opened stronger at 81.51 to a dollar. The local unit moved in the range of 81.50 to 81.67 during the day. It finally settled at 81.53, a rise of 8 paise against the previous close of 81.61. On Wednesday, the rupee had slipped 2 paise against the US dollar. The currency markets were closed on Thursday on account of Republic Day. Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.02 per cent to 101.82 after positive macroeconomic data released by the US government on Thursday. Brent crude was trading 1.19 per cent higher at USD 88.51 per barrel. On the dome

Rupee appreciates by 9 paise to 81.52 against US dollar in opening trade

The rupee appreciated by 9 paise to 81.52 against the US currency in early trade on Friday as crude oil prices were little changed ahead of the oil cartel OPEC's meeting. Expectations of FII inflows into Rs 20,000 crore FPO of Adani Enterprises also bolstered the local currency. At the interbank foreign exchange market, the rupee opened higher at 81.51 against the previous close of 81.61 on Wednesday. The money markets were closed on Thursday for the Republic Day holiday. The rupee moved in a range of 81.50 to 81.58 in early trade. It was trading at 81.52 to a dollar at 0940 hours. Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, edged up 0.08 per cent to 101.92. Brent crude was trading 0.34 per cent higher at USD 87.77 per barrel. The Joint Ministerial Monitoring Committee of OPEC will meet next week to take a call on the output and full meeting of the cartel and allies. Also, the 20,000 crore FPO of Adani Enterprises op

Rupee closes at 81.70 against dollar amid unabated foreign fund outflow

The rupee fell 28 paise to close as 81.70 (provisional) against the US dollar on Tuesday as unabated foreign fund outflow hit market sentiments. However, a weak dollar and fall in crude prices capped the losses in the local currency, forex traders said. At the interbank foreign exchange market, the rupee opened lower at 81.61 to a dollar against the previous close of 81.42. The local unit moved in a range of 81.43 to 81.76 during the day. On Monday, the rupee had declined by 25 paise to close at 81.42 against the US dollar. Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.01 per cent to 102.15 amid concerns over US economic growth. The Brent crude was trading 0.41 per cent lower at USD 87.83 per barrel. On the domestic equity market front, the 30-share BSE Sensex ended almost flat at 60,978.75, up 37.08 points or 0.06 per cent. The broader NSE Nifty inched up 0.25 points to 18,118.30. Foreign Institutional Inve