Page 32 - Us Dollar

Dollar remains steady as market awaits FOMC minutes, Powell's comments

Financial markets had a turbulent start to August after a slew of softer-than-expected US economic data

Rupee rises 7 paise to 83.90 as US dollar retreats in early trade

The Indian rupee appreciated 7 paise to 83.90 against the US dollar in early trade on Wednesday, as the American currency retreated from its elevated levels. Forex traders said the US dollar has weakened against majors post the US Producer Price Index (PPI) print, which came in softer than anticipated, leaving the Dollar Index vulnerable to further correction. At the interbank foreign exchange, the rupee opened at 83.90 against the greenback, registering a gain of 7 paise over its previous close. On Tuesday, the rupee settled for the day on a flat note at 83.97 against the US dollar. The Reserve Bank of India has been holding the 84.00 psychological mark, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. "The rupee is expected to open around 83.91 slightly stronger with a narrow range of 83.87/83.97, as the market awaits the Indian trade data for July-24," Bhansali added. Forex traders said market participants are also awaiting cues f

India, Russia explore dynamic rupee-rouble rate to overcome trade issues

RBI deputy governor T Rabi Sankar and top officials of some public sector banks are visiting Moscow for a meeting of the India-Russia Joint Business Council for banking and finance

Rupee slips to record closing low of 83.9725 as Asian currencies weaken

The rupee closed at 83.9725 against the US dollar, after closing at 83.9550 in the previous session. The currency hovered in a narrow range between 83.95 and 83.97 during the session

Yen slightly softer against dollar, Fed rate cut remains uncertain

The respite follows a tumultuous week that began with a massive selloff across currencies and stock markets

Rupee rises 8 paise to 83.89 against US dollar during early trade

Rupee appreciated 8 paise to 83.89 against US dollar in early trade on Friday, supported by a positive trend in domestic equities and a decline in the US dollar index. Forex traders said post the Reserve Bank of India's monetary policy announcement, markets now await for US CPI data, India CPI, WPI and IIP data and India's trade data all scheduled to be released next week. The Jackson Holes Symposium to be held after next week will also remain in focus, traders said. At the interbank foreign exchange, the rupee opened at 83.95 against the greenback, then touched 83.89, registering a rise of 8 paise over its previous closing price. On Thursday, the rupee consolidated in a narrow range and settled for the day lower by 2 paise at 83.97 against US dollar. Rupee was protected by the Reserve Bank of India (RBI) at 83.96 for this week and the local unit is likely to trade in a narrow range of 83.90/84.00 for the day after the RBI kept key benchmark rates on hold, said Anil Kumar Bhansali

Yen slides against dollar after US jobless claims fall more than expected

The yen's slide follows a sharp drop the day before in a volatile week in which investors have had to digest the unwinding of popular carry trades and how Japanese monetary policy might evolve

Rupee trades in narrow range against dollar ahead of RBI's MPC outcome

The rupee witnessed range-bound trading in initial deals against the US dollar on Thursday, ahead of the Reserve Bank of India's monetary policy outcome. Market participants are awaiting cues from the central bank's observation of recent events and its observations on food inflation which continues to remain high. Foreign fund outflows and gains in Brent crude price further dented investor sentiments. At the interbank foreign exchange, the rupee opened at 83.94 against the greenback, then touched 83.93, registering a rise of 2 paise over its previous closing price. On Wednesday, the rupee consolidated in a narrow range and settled for the day lower by 3 paise at 83.95 against US dollar. "Indian rupee was again sold off as it closed at 83.95 on Wednesday very close to the psychologically important level of 84.00. Market will await the monetary policy before checking on RBI allowing the rupee to fall further as it protects 83.96," said Anil Kumar Bhansali, Head of Treasury and Execu

Rupee weakens to new intra-day low as investors exited from carry trades

Market participants said that the RBI asked some banks to refrain from speculative trading against the rupee

Rupee recovers from all-time low levels, opens 25 paise higher at 83.84

The rupee recovered from its all-time low level and opened 25 paise higher at 83.84 against the US dollar in morning trade on Tuesday, mirroring the rebound in the domestic equity market, even as aggressive dollar bids from foreign banks exerted pressure on the local unit. Forex traders said risk aversion in the global markets, escalation of geopolitical tensions in the Middle East and outflows by foreign investors further dented investor sentiments. At the interbank foreign exchange market, the local unit opened at 83.92 and then touched an early high of 83.84, registering a 25 paise gain from its all-time closing low of 84.09 against the American currency. On Monday, the rupee slumped 37 paise to settle at an all-time low of 84.09 against the US dollar. "The rupee is being sold off in good times and bad times indicating the demand for US dollar as foreign portfolio investors exit the Indian equity market on high valuation concerns," said Anil Kumar Bhansali Head of Treasury and .

Rupee slips to all-time low of 83.80 against US dollar in early trade

Rupee opened on a muted note and fell to an all-time low of 83.80 against the US dollar on Monday, as the risk off situation in world markets kept the dollar well bid. Forex traders said the sharp downfall in the domestic unit came on the heels of a significant downturn in the Indian equity markets and significant foreign fund outflows. At the interbank foreign exchange market, the local unit opened at 83.78 and then fell to an all-time low of 83.80 against the American currency, registering a fall of 8 paise from its previous close. On Friday, the rupee settled 1 paisa higher at 83.72 against the US dollar in a range-bound trade. Over the past week, major global equities experienced a significant sell-off. The release of last week's US Jobs Report, which fell significantly below expectations, sparked recession fears in the market, increasing demand for safe-haven assets. Additionally, the upcoming US elections in November are likely to keep investors on edge. Meanwhile, tensions

Yen rises to 7-month high as weak US labour data fuels recession fears

The US economy is showing signs of slowdown but it's not as bad as the market is pricing in

RBI intervenes as rupee falls to new low; hits 83.76 against US dollar

The rupee settled at Rs 83.75 per dollar, against Rs 83.73 per dollar on Thursday

Forex reserves decline by $3.47 bn to $667.386 bn, shows RBI data

The Reserve Bank of India (RBI) intervenes in the foreign exchange market to curb excess volatility in the rupee

Global stock sell-off on slowdown concern pushes Indian rupee to record low

Investor sentiment soured after weaker-than-expected US factory data prompted growth concerns while tensions about a widening conflict in the Middle East weighed

Rupee turns flat at 83.73 against US dollar amid high crude oil prices

The rupee turned flat at 83.73 against the US currency on Friday amid weak equity markets and an upward movement in crude oil prices overseas. According to forex traders, the Indian currency found support due to softening dollar against major rivals following the US Federal Reserve's decision to maintain the status quo on interest rates and some inflow of foreign capital into Indian equities. At the interbank currency exchange, the domestic currency opened at 83.74 and inched up to trade at 83.73 against the dollar, the previous day's closing level. On Thursday, the rupee declined 5 paise to settle at 83.73 against the US dollar. Anand James, Chief Market Strategist, Geojit Financial Services, said the rupee's weakness was capped by "a likely intervention from the Reserve Bank of India, which sold dollars through state-run banks". "The next key US economic release is the July jobs report, expected on Friday," he added. Meanwhile, the dollar index, which gauges the greenback's str

Rupee rises 2 paise to 83.71 against US dollar during early trade

The rupee rose 2 paise to 83.71 against the US currency in early trade on Wednesday following a marginal dip in the dollar in overseas markets. At the interbank currency exchange, the domestic currency opened at 83.72, 1 paisa higher than the previous day's close. The domestic unit moved in the tight range of 83.70-83.72 in early trade. Forex traders said the rise in Brent crude oil prices offset the rupee's gains following the decline in dollar rates overseas. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.19 per cent to 104.36. Brent crude futures -- the global oil benchmark -- rose 1.49 per cent to USD 79.80 per barrel. All eyes will be on the US Fed rate announcement later in the day. Expectations are ripe that the Federal Reserve might signal a rate cut as early as September. In the domestic equity market, the 30-share BSE Sensex showed volatility, rising over 200 points in early trade to reach a record high

Room for India's DPI to diversify digital trade, says RBI report

According to Das, in the rapidly evolving technology landscape, balancing financial stability, customer protection and competition will remain the key policy challenge

Rupee rises 2 paise to 83.72 against US dollar during early trade

The rupee appreciated by 2 paise to trade at 83.72 against the US currency in the early session on Monday amid a weak dollar in the overseas markets. At the interbank foreign exchange market, the rupee opened firm at 83.70 against the US dollar. The local currency moved in a tight range of 83.70 to 83.72 in early trade. The rupee was trading at 83.72 against the US dollar at 9.30 am. Foreign fund outflows from Indian equities after the government's decision to hike the tax rate on capital gains weighed on the local currency and restricted the upmove, forex traders said. The domestic currency had recovered from its all-time low by 5 paise to settle at 83.73 against the US dollar on Friday, on the strength in domestic markets and expectations of fresh foreign inflows. In the domestic equity market, the 30-share BSE Sensex hit an all-time high, rising 355.7 points, or 0.44 per cent, to 81,688.42 in early trade on Monday. Meanwhile, the dollar index, which gauges the greenback's stre

Rupee may bounce back in Aug on weak dollar, US rate cut hopes: BS poll

But some see it hitting 84/$ tracking Asian peers