Page 33 - Us Dollar

Weak dollar, western investor buying drive gold prices to record high

The dollar touched a seven-month low on Tuesday with traders bracing for comments from Federal Reserve Chair Jerome Powell on Friday

Rupee turns flat at 83.87 against US dollar in today's early trade

The Indian rupee pared its initial gains and turned flat at 83.87 against the US dollar in early trade on Tuesday, as positive domestic equity markets and a weak American currency was negated by the outflow of foreign capital. Forex traders said softening crude oil prices supported the local unit and prevented its fall. At the interbank foreign exchange, the rupee opened at 83.86 against the greenback, inched up to 83.84 before trading again at its previous session's closing level of 83.87 against the dollar. On Monday, the rupee settled 8 paise higher at 83.87 against the American currency. Over the past holiday-shortened week, the rupee showed minimal fluctuation and narrowly steered clear of the critical of 84-mark. Investors are expected to remain cautious ahead of PMI data from the US and Federal Reserve Chair Jerome Powell's speech at Jackson Hole Symposium for any cues on rate cuts by the central bank. Meanwhile, the dollar index, which gauges the greenback's strength aga

Rupee expected to underperform regional peers amid dollar's slide

The upbeat risk mood has been another factor cited for the slump in the safe haven dollar

Dollar hits seven-month low on rate cut bets, Powell speech in focus

Investors largely expect Powell to acknowledge the case for a rate cut and will parse his words for cues

Yen rises sharply, euro touches its highest this year as dollar retreats

The minutes of the Fed's July meeting, due on Wednesday, and Powell's speech on Friday are likely to be the main currency drivers in a week that will also see inflation data from Canada and Japan

Rupee rises 11 paise to 83.84 against US dollar during early trade

The Indian rupee appreciated 11 paise to 83.84 against the US dollar in early trade on Monday, mirroring a positive momentum in domestic equities and fresh foreign fund inflows. Forex traders said the weakening of the American currency in the overseas market and retreating crude oil prices also supported investor sentiments. At the interbank foreign exchange, the rupee opened at 83.88 against the greenback, then gained ground and touched 83.84, registering a gain of 11 paise over its previous close. On Friday, the rupee moved in a tight range and settled just 1 paisa lower at 83.95 against the American currency. Over the past shortened week, the rupee showed minimal fluctuation and narrowly steered clear of the critical 84 mark. "The rupee emerged as the least volatile among its peer currencies, a testament to the RBI's decisive actions, which were further reflected in the nearly USD 5 billion dip in India's forex reserves from the record high of USD 675 billion," CR Forex Advisor

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