Page 34 - Us Dollar

Rupee appreciates 5 paise to 83.54 against US dollar in early trade

The rupee appreciated 5 paise to 83.54 against the US dollar in early trade on Wednesday, boosted by positive sentiments in the domestic equity market. Forex traders said rupee is trading in a narrow range as all eyes are on the US May CPI print and the Fed rate decision on the global front and India's Consumer Price Index (CPI) on the domestic front. Moreover, the strength of the American currency in the overseas market and elevated crude oil prices weighed on the local unit and restricted the upmove. At the interbank foreign exchange market, the local unit opened at 83.56 and gained further to trade at 83.54 against the greenback in initial deals, registering an increase of 5 paise from its previous closing level. On Tuesday, the rupee settled for the day lower by 9 paise at 83.59 against the US dollar. "The Indian rupee has remained steady despite a strengthening US Dollar driven by rising US bond yields and diminished expectations of Fed rate cuts following robust US employmen

Wall Street mixed, dollar rises ahead of CPI data, Fed policy meeting

NEW YORK (Reuters) -The S&P 500 backed down from the previous day's record closing high while the dollar gained strength on Tuesday, as investors turned a cautious eye to upcoming inflation data and the U.S. Federal Reserve's policy meeting.

Rupee depreciates 10 paise to 83.50 against US dollar in early trade

The rupee depreciated 10 paise to 83.50 against the US dollar in early trade on Monday, largely due to the rise in the dollar index and US yields. Forex traders said uncertainty among market players was down as Narendra Modi was sworn in as Prime Minister on Sunday for a record-equalling third term. However, the strength of the American currency in the international market weighed on the local unit. At the interbank foreign exchange market, the local unit opened at 83.48 and lost further ground to trade at 83.50 against the greenback, registering a loss of 10 paise from its previous closing level. On Friday, the rupee appreciated 13 paise to 83.40 against the US dollar. According to Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP, the rupee opened at 83.50 largely due to the rise in the dollar index and US yields. "The Reserve Bank of India (RBI) should be present protecting the rupee as existing policies of the government will continue wi

Rupee gains 7 paise to 83.44 against US dollar during early trade

The rupee recovered from the lower level and appreciated 7 paise to 83.44 against the US dollar in early trade on Wednesday, taking cues from domestic equity markets and lower crude oil prices overseas. Forex traders said the rush for value-buying triggered an uptrend in equity markets, boosting the local currency which saw a steep decline on Tuesday after the general elections results showed a less-than-expected majority for the BJP-led NDA. At the interbank foreign exchange market, the local unit opened at 83.50 and recovered some lost ground to trade at 83.44 against the greenback, registering a rise of 7 paise from its previous close. On Tuesday, the domestic currency settled at 83.51 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.09 per cent higher at 104.14. Brent crude futures, the global oil benchmark, slipped 0.03 per cent to USD 77.50 per barrel. On the domestic equity market, the

Asian stocks rise, dollar steady on rate-cut wagers, spotlight on India

Investor worries of a cooling US economy, however, kept a lid on risk appetite, while the focus in Asia is on how Indian markets fare after stocks sank and the rupee slid

Rupee depreciates 26 paise to 83.40 against US dollar in early trade

The rupee plunged 26 paise to 83.40 against the US dollar in early trade on Tuesday as initial counting for the Lok Sabha elections indicated a mixed trend. A weak trend in domestic equity markets also dented sentiments in early deals, forex traders said. According to television reports, the BJP-led NDA surged ahead with leads in more than 200 parliamentary seats out of 350 for which trends were available, with the opposition INDIA bloc ahead in 120. Counting of votes for the Lok Sabha elections began on Tuesday morning across states and Union Territories. At the interbank foreign exchange market, the local unit opened weak at 83.25 and lost further ground to trade at 83.40 against the greenback in initial deals, registering a fall of 26 paise from its previous close. On Monday, the rupee closed at 83.14 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.05 per cent lower at 104.02. Brent cr

Rupee appreciates 38 paise to 83.04 against US dollar in early trade

The rupee surged 38 paise to hit its three-month high level of 83.04 against the US dollar in early trade on Monday boosted by a robust sentiment in domestic equity markets on the back of strong macroeconomic data and exit poll results showing a third term for the Prime Minister Narendra Modi-led government. A weak American currency and inflow of foreign capital into domestic equities also supported the local unit, forex traders said. At the interbank foreign exchange market, the local unit opened at 83.09 and gained further to trade at 83.04 against the greenback in initial deals, registering an increase of 38 paise from its previous close. The rupee had breached the 83.00 level on March 18 this year. The local unit clocked the highest single-day rise since April 2023 when it appreciated by 42 paise. On Friday, the rupee declined 13 paise to close at 83.42 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies,

Rupee appreciates 5 paise to 83.24 against US dollar in early trade

The rupee appreciated 5 paise to 83.24 against the US dollar in early trade on Friday boosted by robust sentiment in domestic equity markets and a downward trend in the crude oil prices overseas. Forex traders said, however, strong American currency and unabated outflow of foreign capital weighed on the local unit. Also, they said market participants are expected to take cues from domestic macroeconomic data to be released later in the day. At the interbank foreign exchange market, the local unit opened at 83.25 and gained further to trade at 83.24 against the greenback in initial deals, registering an increase of 5 paise from its previous closing level. On Thursday, the rupee gained 11 paise to close at 83.29 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.13 per cent higher at 104.79. The latest US GDP data released on Thursday showed the world's largest economy grew at a slower pace of

Dollar steadies before awaited inflation test, yen brushes off Tokyo CPI

Official data showed overnight that the US economy grew at an 1.3 per cent annualised rate from January through March

Global rate anxiety sparks slump in Asian stocks, bonds

The latest halt in the global risk rally has come on the back of data pointing to lingering inflationary pressures across major economies

Higher US bond yields push Yen to 4-week low ahead of key inflation data

The Aussie dollar was down 0.47% at $0.6618, even after Australian consumer price inflation unexpectedly rose to a five-month high in April

Rupee depreciates 9 paise to 83.27 against US dollar in early trade

The rupee depreciated 9 paise to 83.27 against the US dollar on Wednesday, tracking a negative trend in domestic equities and elevated crude oil prices. Forex traders said the local unit faced some resistance due to subdued sentiment in the domestic equity market and strengthening of the American currency in the overseas market. At the interbank foreign exchange market, the local unit opened at 83.22 and lost further ground to trade at 83.27 against the greenback, registering a loss of 9 paise from its previous closing level. On Tuesday, the rupee pared initial gains to settle 5 paise lower at 83.18 against the US dollar. "The Indian rupee was sold off on Tuesday as oil and probably the Reserve Bank of India (RBI) bought dollars (about USD 1 billion) to keep rupee appreciation in control before the month-end and the Lok Sabha election results," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. The USD/INR pair is likely to trade with

Dollar steady ahead of inflation data, yen weakens, Fed rate cut unlikely

The dollar was also lifted by rising Treasury yields after a lacklustre debt auction for sales

Rupee appreciates 3 paise to 83.10 against US dollar in early trade

The rupee appreciated by 3 paise to 83.10 against the US dollar on Tuesday, tracking a positive trend in domestic equities and weakness of the American currency in the overseas market. Forex traders rupee is likely to trade with a positive bias tracking a positive trend in domestic equities and expectations of fresh foreign inflows, however, a recovery in crude oil prices may cap a sharp upside. At the interbank foreign exchange market, the local unit opened at 83.14 and gained further ground to trade at 83.10 against the greenback, registering a gain of 3 paise from its previous closing level. On Monday, the rupee pared its initial gains and settled for the day lower by 3 paise at 83.13 against the US dollar. The opening for the rupee on Tuesday was flattish and the USD/INR pair should move within a narrow range of 83.00 to 83.20, said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. Importers need to keep buying in dips, as the Reserve

Rupee appreciates 4 paise to 83.06 against US dollar in early trade

The rupee appreciated by 4 paise to 83.06 against the US dollar on Monday, tracking a positive trend in domestic equities, wherein benchmark indices scaled new peaks. Forex traders said the weakness of the American currency in the overseas market supported the rupee, while elevated crude oil prices in the international market restricted the upmove. At the interbank foreign exchange market, the local unit opened at 83.08 and gained further ground to trade at 83.06 against the greenback, registering a gain of 4 paise from its previous closing level. On Friday, the rupee rallied for the fourth consecutive trading session and settled with a sharp gain of 19 paise at 83.10 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.70, lower by 0.02 per cent. Brent crude futures, the global oil benchmark, advanced 0.19 per cent to USD 82.28 per barrel. On the domestic macroeconomic front, India's fore

Rupee appreciates 12 paise to 83.17 against US dollar in early trade

The rupee appreciated by 12 paise to 83.17 against the US dollar on Friday, tracking a bullish trend in domestic equities, wherein benchmark indices scaled new peaks. Forex traders attributed the rally to Rs 2.11 lakh crore record dividend by the RBI to the government for the fiscal ended March 31. It was more than double the budgeted expectation, helping shore up revenue ahead of a new government taking office. At the interbank foreign exchange market, the local unit opened at 83.26 and gained further ground to trade at 83.17 against the greenback, registering a gain of 12 paise from its previous closing level. The forex market was closed on Thursday on account of 'Buddha Purnima'. On Wednesday, the rupee appreciated by 2 paise to settle at 83.29 against the US dollar. After a trading holiday on Thursday, the Indian rupee was on a strong footing following a big transfer of Rs 2.11 lakh crore in the form of dividend from the Reserve Bank of India (RBI) to the Union government, whi

Danske Bank opposes majority, says rupee bulls wrong as record low looms

The Reserve Bank of India is expected to let the rupee weaken steadily to help local manufacturers fight higher inflation and support exports

Rupee appreciates 7 paise to 83.24 against US dollar in early trade

The rupee appreciated by 7 paise to 83.24 against the US dollar on Wednesday amid softening crude oil prices in the international market. Forex traders said the local unit faced some resistance due to subdued sentiment in the domestic equity market and foreign fund outflows. At the interbank foreign exchange market, the local unit opened at 83.29 and inched up further to trade at 83.24 against the greenback, registering a gain of 7 paise from its previous closing level. On Tuesday, the rupee appreciated 6 paise to close at 83.31 against the US dollar. "As the rupee seems to have started aligning with its fundamentals, in the short term, one can expect the Rupee to approach levels of 83.00 to 83.10, while the medium-term target is projected to range between 82.80 to 82.50 levels," CR Forex Advisors MD Amit Pabari said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.63, lower by 0.02 per cent. Brent crude ..

Rupee appreciates 6 paise to 83.31 against US dollar in early trade

The rupee appreciated by 6 paise to 83.31 against the US dollar on Tuesday amid softening crude oil prices in the international market. Forex traders said, however, the local unit faced some resistance due to subdued sentiment in the domestic equity market and a stronger American currency. At the interbank foreign exchange market, the local unit opened strong at 83.32 and inched up further to trade at 83.31 against the greenback, registering a gain of 6 paise from its previous closing level. On Friday, the rupee had settled 13 paise higher at 83.37 against the US dollar. The forex markets were closed on Monday on account of general elections. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.57, higher by 0.11 per cent. Analysts attributed the strengthening dollar to higher US treasury yields even as the Federal Reserve has indicated that it needs more time to assess the progress on inflation. Brent crude fut

BOJ may face more pressure to hike rates amid declining consumer spending

The yen has depreciated by roughly 10% against the dollar so far this year despite the BOJ's decision in March to end eight years of negative rates