Page 63 - Rupee

Rupee seen firming to 78.5-79.5 against dollar by FY23-end: HDFC Bank

The rupee has has weakened 7.5% so far in the 2022 calendar year, trading close to a record low of 80.0650 hit last month, as aggressive rate hikes by the Federal Reserve sent the dollar rallying

Trade settlement: Govt says banks free to not deal with sanctioned entities

There are over 200 banks in Russia, and sanctions have not been imposed on all of them

RBI's net forward book shrinks $34.94 bn in first 3 months of FY23

The multi-pronged defence of the rupee is behind the sharp fall in RBI's long forward position

'High ATF prices, rupee depreciation may pose threat to carriers' recovery'

Elevated Aviation Turbine Fuel (ATF) prices and Rupee depreciation are likely to pose a serious threat to the recovery process for domestic carriers, credit ratings agency ICRA said on Wednesday. In India, ATF accounts for around 45 per cent of the operational cost of an airline. Besides, as much as 35-50 per cent of the airlines' operating expenses are US dollar driven, as per ICRA. An area of concern remains the ATF prices, which surged by around 77 per cent Y-o-Y in August, given the elevated crude oil prices due to geo-political issues arising from the Russian invasion of Ukraine, the ratings agency said. On an aggregate basis, it said a return to normalcy will lead to recovery in passenger load factors, which, in turn, will aid revenues; however, these two factors will continue to weigh on the domestic airlines'' earnings in FY23. This apart, the expected launch of Jet Airways and the entry of Akasa Air, are likely to intensify the competition for the domestic carriers. "ICR

Foreign investors pour over Rs 12k cr in Indian equities in last 10 days

The increase in the amount of money coming into the market has helped benchmark indices to rise sharply and rupee to appreciate against the US.

Rupee gains sharply as slowing US inflation softens Fed hike fears

Data released late Wednesday showed that US CPI inflation increased by a lesser-than-expected 8.5% in July as against a rise of 9.1% in June

RBI cancels Rupee Co-operative's licence; lender to cease business Sep 22

More than 99% of depositors of Pune-based lender to receive the full amount, says regulator

Rupee falls as strong US jobs data rekindles fear of aggressive Fed hikes

The Federal Reserve has already raised interest rates by 225 basis points since March 2020

Exporters meet Piyush Goyal, flag concerns on demand from Western nations

According to preliminary data released by the commerce ministry on Tuesday, merchandise exports declined to a five-month low of $35.2 billion in July

Rupee weakens 1% in two days as renewed talks of 'hawkish' Fed boost dollar

Record high trade deficit, technical factors add to woes

Rupee tumbles as Nancy Pelosi's Taiwan visit sparks US-China tension

A fresh record high monthly trade deficit in July also weighed on sentiment in the domestic currency market, traders said

India expects $8-$9 bn bilateral trade with Russia, Sri Lanka in two months

RBI last month allowed importers and exporters to pay in the partially convertible rupee, a move widely seen as making trade with Russia and South Asian neighbours easier instead of relying on dollars

Rupee strength unsustainable; bet on chemicals, OMCs in near-term: Analysts

Whether the recent strength in the currency will sustain or not depends on the monetary policy trajectory of the Reserve Bank of India, foreign flows, and crude oil prices, experts said.

Rupee back to 78 levels vs dollar as FPIs return to Indian markets

The US dollar index, a measure of the currency against six major rival pairs, was at 105.67 around 6.15 pm IST on Tuesday. It had climbed to a 20-year high of 108.54 in late July

Top headlines: Rupee jumps 41 paise; 8th monkeypox case detected in India

Business Standard brings you top news of the day

10-year bond yield eases to nearly three-month low, rupee gains

Softening of crude oil prices reduces upside risks to India's inflation, given that the country is among the biggest importers of the commodity

Rupee rises by 22 paise to close at 79.02 against USD as oil prices decline

India's Manufacturing PMI rose to 56.4 in July compared to 53.9 in June, and this also supported the rupee

Rupee rises by 13 paise to 79.11 against US dollar in early trade

The rupee strengthened by 13 paise to 79.11 against the US dollar in opening trade on Monday. Forex traders said the rupee opened stronger as the dollar continued to fall on account of a less aggressive US Fed and falling crude oil prices. At the interbank foreign exchange, the rupee opened at 79.16 against the US dollar and touched 79.11 in initial deals, registering a rise of 13 paise over the last close. In the previous session, the rupee had closed at 79.24 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.14 per cent to 105.75. Global oil benchmark Brent crude futures fell 0.97 per cent to USD 103 per barrel. According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, the rupee is likely to trade in the range of 79 to 79.40. "The market awaits the RBI MPC to give its rate signals on August 5," Bhansali said. On the domestic equity market front, the 30-share Sensex was trading 188.86 p

Market sentiment gets a boost as FPI selloff stems in July after 10 months

What led to such record outflows? "Rising global central banks' rates, rupee depreciation, expensive valuations and geopolitical risks," says BofA in a note.

Pakistan rupee posts worst month ever amid concern on IMF loan

Pakistan is striving to stave off fears it will follow Sri Lanka into a default this year