Page 55 - Rupee

Rupee closes at 81.70 against dollar amid muted trend in domestic equities

The rupee depreciated 6 paise to close at 81.70 (provisional) against the US dollar on Friday amid a lacklustre trend in domestic equities and firming crude oil prices. However, a weak dollar in the overseas market and fresh foreign capital inflows restricted the loss, forex traders said. At the interbank foreign exchange market, the local unit opened up at 81.59 and later erased all its early gains. During the session, it witnessed a high of 81.52 and a low of 81.78. The domestic unit finally settled at 81.70 against the American currency, registering a fall of 6 paise over its previous close of 81.64. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.28 per cent to 106.39. Global oil benchmark Brent crude futures rose 0.36 per cent to USD 90.10 per barrel. On the domestic equity market front, the 30-share BSE Sensex fell 87.12 points or 0.14 per cent to end at 61,663.48, while the broader NSE Nifty declined 36.25 p

Rupee slides as Chinese yuan weakens, October trade deficit hits mood

The rupee settled at 81.65 per US dollar on Thursday as against 81.31 per dollar at previous close

Rupee closes at 81.63 against dollar amid muted trend in domestic equities

The rupee depreciated by 37 paise to close at 81.63 (provisional) against the US dollar on Thursday, tracking the strength of the American currency in the overseas markets and a muted trend in domestic equities. Forex traders said the American currency strengthened after strong US retail sales data pointed to resilient consumption adding room for tighter policy by the US Federal Reserve. At the interbank foreign exchange market, the local unit opened at 81.62 and later witnessed an intraday high of 81.45 and a low of 81.68 during the session. The domestic unit finally settled at 81.63 against the American currency, registering a fall of 37 paise over its last close. On Wednesday, the rupee depreciated by 35 paise to close at 81.26 against the US dollar. US retail sales posted the biggest increase in eight months in October. UK inflation number came in at 11.1 per cent, to 41-year high, as compared to 10.1 per cent in the previous month, said Gaurang Somaiya, Forex & Bullion ...

Rupee falls to 81.63 against dollar amid muted trend in domestic equities

The rupee depreciated 37 paise to 81.63 against the US dollar in early trade on Thursday, tracking the strength of the American currency in the overseas market and a muted trend in domestic equities. Forex traders said the American currency strengthened after strong US retail sales data pointed to resilient consumption despite a slowing economy, adding room for tighter policy by the US Federal Reserve. At the interbank foreign exchange, the domestic unit opened at 81.62 against the dollar, then lost ground to quote at 81.63, registering a loss of 37 paise over its previous close. On Wednesday, the rupee depreciated by 35 paise to close at 81.26 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.26 per cent to 106.55. The Indian Rupee started this Thursday morning on a weaker note as the dollar stabilised as investors tried to assess the outlook for US Fed policy following stronger-than-expected .

Rupee falls 35 paise to close at 81.26 against US dollar on forex outflows

The rupee depreciated by 35 paise to close at 81.26 against the US dollar on Wednesday on disappointing trade data and foreign fund outflows. Forex traders said a negative bias on risk aversion in global markets weighed on the local unit. At the interbank foreign exchange market, the local unit opened at 81.41 and later witnessed an intraday high of 81.23 and a low of 81.58 during the session. The domestic unit finally settled at 81.26 against the American currency, registering a fall of 35 paise over its last close. On Tuesday, the rupee appreciated 37 paise to close at 80.91 against the US dollar. "The Indian rupee depreciated on risk aversion in global markets and weak Asian currencies. Disappointing macroeconomic data from FII outflows also weighed on Rupee," said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. "The Indian Rupee weakened on Wednesday on dollar demand from importers and weakness in Asian currencies. A decline in USD/INR forward premiums also mad

Nine Russian banks open special vostro accounts for trade in rupee

Next round of India-UK FTA talks expected in Dec: Commerce secy

9 Russian banks open vostro accounts for trade in Rupee after RBI approval

As many as nine special vostro accounts have been opened with two Indian banks after permission from the Reserve Bank of India to facilitate overseas trade in rupee, a top government official said on Tuesday. Sberbank and VTB Bank -- the largest and second-largest banks of Russia, respectively -- are the first foreign lenders to receive the approval after the RBI announced the guidelines on overseas trade in the rupee in July. Another Russian bank Gazprom - which does not have its bank in India - has also opened this account with Kolkata-based Uco Bank. "Nine accounts have been opened. One in Uco Bank, one in Sber, one in VTB and 6 with IndusInd Bank. These six are different Russian banks," Commerce Secretary Sunil Barthwal told reporters here. The move to open the special vostro account clears the deck for settlement of payments in rupee for trade between India and Russia, enabling cross-border trade in the Indian currency, which the RBI is keen to promote. The RBI has allowed th

Rupee closes at 81.26 against dollar amid muted trend in domestic equities

The rupee depreciated by 48 paise to close at 81.26 (provisional) against the US dollar on Monday, tracking the recovery in the American currency and a muted trend in domestic equities. Forex traders said rising crude oil prices also weighed on investor sentiments. At the interbank foreign exchange market, the local unit opened on a strong note at 80.53, but pared gains and finally settled at 81.26 against the American currency, registering a fall of 48 paise over its last close. On Friday, the rupee appreciated by 62 paise to close at 80.78 against the dollar. "Indian Rupee depreciated on recovery in US Dollar and weak domestic markets. However, Rupee opened higher on upbeat macroeconomic data," said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. India's industrial production expanded by 3.1 per cent in September, boosted by manufacturing, mining and power sectors, according to official data released on Friday. "Overall weakness in the Dollar amid rising expectat

Rupee logs best single-day gain in 4 years as Fed hikes seen slowing

As dollar index breaches key technical levels, outlook on rupee improves

Rupee appreciates by 62 paise to close at 80.78 against US dollar

The rupee appreciated by 62 paise to close at 80.78 (provisional) against the US dollar on Friday, as moderating US CPI data coupled with a fall in the dollar index boosted investor sentiments. Forex traders said positive domestic equities and sustained foreign fund inflows also supported the local unit. At the interbank foreign exchange market, the local unit opened at 80.76 and touched an intra-day high of 80.58 and a low of 80.99 against the greenback. The local unit finally settled at 80.78, registering a rise of 62 paise over its previous close of 81.40. "The Indian rupee appreciated on weak US Dollar and positive domestic markets. Sustained FII inflows also supported Rupee," said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. However, a surge in crude oil prices capped sharp gains. US inflation and core inflation declined to 7.7 per cent and 6.3 per cent in October from 8.2 per cent and 6.6 per cent in September, respectively, amid hopes that inflation may h

Rupee up 71 paise to 80.69 against dollar amid moderating US CPI data

The rupee appreciated 71 paise to 80.69 against the American currency in early trade on Friday, as moderating US CPI data coupled with the fall in the dollar index boosted investor sentiments. Forex traders said factors like positive domestic equities and weakness in crude oil prices also supported the local unit. At the interbank foreign exchange, the domestic unit opened at 80.76 against the dollar, then gained further ground to touch 80.69, registering a rise of 71 paise over its previous close. On Thursday, the rupee appreciated 7 paise to close at 81.40 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.02 per cent to 108.18 on cooling US CPI data. US headline CPI print came in at 7.7 per cent year-on-year (0.4 month-on-month). Core CPI print which excludes the volatile food and energy components also came in lower at 6.3 per cent year-on-year (0.3 per cent month-on-month), IFA Global Research .

Rupee slides 38 paise against dollar as traders jittery before US CPI

Over the last three days of trade, the rupee had strengthened sharply against the US dollar, climbing to one-month highs. The domestic currency was at 82.89 on November 3

Rupee closes at 81.77 against dollar ahead of US inflation data

The rupee depreciated by 30 paise to close at 81.77 (provisional) against the US dollar on Thursday, as participants remained cautious ahead of the release of the US inflation data. Forex traders said a weak trend domestic equities also weighed on investor sentiments. At the interbank foreign exchange market, the local unit opened at 81.61 and witnessed a high of 81.54 and a low of 81.92. It finally settled at 81.77 against the American currency, registering a fall of 30 paise over its last close of 81.47. "Rupee came under pressure in the first half of the session ahead of the US inflation number that will be released today. Expectation is that inflation could come in lower and that could keep gains capped for the dollar," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services. Also, market participants remained cautious ahead of mid-term election results. "Some market participants suggest a strong chance of Republicans winning a House majority and a ...

Centre allows trade settlement for export promotion schemes in Indian rupee

With the amendment to the Foreign Trade Policy, invoicing, payment, and settlement of trade can now take place in Indian rupee

Rupee closes at 81.47 against US dollar amid fall in crude oil prices

The rupee appreciated by 45 paise to close at 81.47 (provisional) against the US dollar on Wednesday amid fall in crude oil prices, dollar weakness and sustained foreign fund inflows. At the interbank foreign exchange market, the local unit opened at 81.43, and witnessed an intra-day high of Rs 81.23 and low of Rs 81.62 during the session. The local unit finally settled at 81.47 against the American currency, registering a rise of 45 paise over its previous close. On Monday, the rupee had settled at 81.92 against the US dollar. The forex market was closed on Tuesday on account of 'Gurunanak Jayanti'. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.18 per cent to 109.83. Global oil benchmark Brent crude futures fell 0.64 per cent to USD 94.75 per barrel. "Rupee continued to gain strength as the broader dollar witnessed selling pressure at higher levels. The greenback continued to remain weighed down also ahead of the US

Rupee closes at 81.90 against dollar amid sustained foreign fund inflows

The rupee appreciated by 45 paise to close at 81.90 (provisional) against the US dollar on Monday amid a weak American currency and sustained foreign fund inflows. At the interbank foreign exchange market, the local unit opened at 82.14 and touched an intra-day high of 81.90 and a low of 82.32 against the greenback. The local unit finally settled at 81.90, registering a rise of 45 paise over its previous close amid a positive trend in domestic equities. On Friday, the rupee had appreciated by 53 paise to close at 82.35. "Indian Rupee appreciated on weak US Dollar and positive domestic markets. Asian markets jumped today following a surge in US and European markets on Friday," said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. Choudhary further said the rupee is expected to trade with a positive bias on rise in risk appetite in global markets and weak dollar. "FII inflows may also support rupee. However, a surge in crude oil prices may cap sharp gains. Investors m

Rupee up 23 paise to 82.12 against US dollar in early trade as crude eases

The rupee appreciated 23 paise to 82.12 against the US dollar in early trade on Monday amid a positive trend in domestic equities and easing crude prices. At the interbank foreign exchange, the domestic unit opened at 82.14 against the dollar, then gained further ground to touch 82.12, registering a rise of 23 paise over its previous close. On Friday, the rupee appreciated by 53 paise to close at 82.35 against the US dollar. According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the rupee started the trade with a gap-up trade tracking the overnight weakness of the dollar. However, most of the Asian and emerging market peers weakened against the greenback this Monday morning after Chinese officials on the weekend reiterated their commitment to a strict COVID containment approach and could cap appreciation bias of the local unit, Iyer noted. The key triggers for currencies this week will be the US inflation rate data followed by several speeches by Fed ...

India's foreign exchange reserves jump $6.5 billion to $531 billion

The increase in reserves is mainly due to a rise in foreign currency assets that went up by $5.7 billion during the week

Rupee logs best single-day gain since September 30 on strong FPI flows

The rupee settled at 82.44 per dollar on Friday versus 82.89 on Thursday

Rupee closes at 82.35 against dollar on persistent foreign fund inflows

The rupee appreciated by 53 paise to close at 82.35 against the US dollar on Friday, boosted by persistent foreign fund inflows and a weakening greenback overseas. At the interbank foreign exchange market, the local unit opened at 82.85 and shuttled between 82.35 and 82.85 during the session. It finally settled at 82.35 against the American currency, registering a rise of 53 paise over its previous close of 82.88. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.34 per cent to 112.54. Global oil benchmark Brent crude futures rose 2.05 per cent to USD 96.61 per barrel. "Euro and Pound too recovered on Friday from intraday lows as broader dollar retraced against its major crosses," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services. On Thursday, pound fell sharply against the US dollar after the Bank of England raised rates by 75 bps. "We expect the USD-INR (Spot) to trade sideways and quo