Page 37 - Us Dollar

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

Gold has major resistance at 74,500, buy the dips in near-term: Sharekhan

The metal was changing hands at $2381 at the time of the MCX closing, which is down 0.20 per cent from Wednesday's closing level

Yen higher, dollar squeezed as US inflation eased to its slowest pace

Core US inflation slowed to an annualised 3.6 per cent in April, Wednesday's data showed

Asian stocks rides Wall Street rally, dollar sags on US inflation relief

Gold marched back toward record levels, and crude oil added to gains after rebounding strongly

Rupee appreciates 4 paise to 83.47 against US dollar in early trade

The rupee was trading in a narrow range and appreciated 4 paise to 83.47 against the US dollar in early trade on Wednesday, tracking a positive trend in domestic equities. However, sustained foreign fund outflows weighed on the local unit and restricted the up move. Forex traders said with foreign investors buying US dollars and the Reserve Bank of India (RBI) selling the greenback, the USD/INR pair is expected to remain range-bound with a bit of a weakness bias. At the interbank foreign exchange market the local unit moved in a narrow range. It opened at 83.49 against the American currency and touched 83.47 in initial trade, registering a rise of 4 paise from its previous close. On Tuesday, the rupee closed at 83.51 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 104.93, lower by 0.07 per cent. Brent crude futures, the global oil benchmark, rose 0.69 per cent to USD 82.95 per barrel. Des

Bullish case for the rupee's rebound dented by RBI's intervention fears

RBI's objective is to prevent outsized moves in the rupee in either direction, said Michael Wan, senior currency analyst at MUFG, adding that this would limit the rupee's upside

Rupee settles near record closing low vs dollar ahead of US inflation data

The local currency settled at Rs 83.53 a dollar against 83.50 a dollar on Friday. It had hit the record closing low of 83.54 on April 16 this year

Rupee stable; oil firms' dollar buys, 'nervous' equities cap upside

Traders expect the central bank's interventions will keep sharp declines in the rupee at bay

Asian stocks rise, dollar weakens on renewed global rate cut optimism

China stocks also gained, with blue-chip shares 0.14 per cent higher, while Hong Kong's Hang Seng Index rose 1.4 per cent, having touched an eight month high in early trading

Rupee aided by dip in US yields, while election uncertainty weighs

Worries over the Indian election results, due on June 4, have prompted foreigners to take out money from equities, pushing the benchmark Nifty 50 index to a three-week low

Rupee appreciates 8 paise to 83.44 against US dollar in early trade

The rupee appreciated 8 paise to 83.44 against the US dollar in early trade on Thursday, as the American currency retreated from its elevated levels. Forex traders said a negative trend in domestic equities and foreign fund outflows weighed on the local unit and restricted the up move. At the interbank foreign exchange market, the local unit opened at 83.49 against the greenback. It later touched 83.44 in initial trade, registering a rise of 8 paise from its previous close. On Wednesday, the rupee stayed range-bound and settled 1 paisa lower at 83.52 against the US dollar. "Indian rupee was sold against the dollar as FPIs continued to sell stocks worth over Rs 6,000 crore on Wednesday and bought dollars keeping US dollar higher," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. Dollar buying could reemerge despite US dollar selling by the Reserve Bank of India (RBI) to protect the rupee, Bhansali added. Meanwhile, the dollar index, w

Asia stocks slip, dollar up as policymakers give mixed signals on rate cuts

Crude oil wallowed near two-month lows amid signs of easing supply pressure and continued hopes for a Middle East ceasefire

Muthoot Finance accepts bids worth $650 million for dollar-bond issue

The non-banking finance company will use the proceeds for onward lending and other activities permitted under external commercial borrowing guidelines

Indian Rupee likely to rebound to 82 per dollar on bond inflows: Fitch

The rupee is expected to appreciate to 82 per dollar by the year-end, from about 83.50 currently, said Jeremy Zook who is a director at Fitch in Hong Kong

Rupee appreciates 4 paise to 83.48 against US dollar in early trade

The rupee was trading in a narrow range against the American currency in early trade on Tuesday and appreciated 4 paise to 83.48 against the US dollar amid a positive trend in domestic equities. Forex traders said the strength of the American currency in the overseas market, elevated crude oil prices and foreign fund outflows weighed on the local unit and restricted the up move. At the interbank foreign exchange market, the local unit opened at 83.48 against the greenback, registering a rise of 4 paise from its previous close. On Monday, the rupee settled 7 paise lower at 83.52 against the US dollar. "India's enduringly strong economic fundamentals, coupled with its substantial foreign exchange reserves acting as a safety net, equip the Reserve Bank of India to effectively mitigate any downward pressure on the rupee," CR Forex Advisors MD Amit Pabari said. Moreover, substantial foreign direct investment (FDI) inflows are anticipated. The Adani Group is eyeing a USD 600 million rai

Dollar broadly steady after soft US jobs report; yen starts on back foot

The offshore yuan was last at 7.1959 per dollar, and gained more than 1 per cent last week

Rupee appreciates 3 paise to 83.42 against US dollar in early trade

The rupee appreciated 3 paise to 83.42 against the US dollar in early trade on Monday, supported by a firm trend in domestic equities. Forex traders said the strength of the American currency in the overseas market and foreign fund outflows weighed on the local unit and restricted the up move. At the interbank foreign exchange market, the local unit opened at 83.43 against the greenback. It later touched 83.42 in initial trade, registering a rise of 3 paise from its previous close. On Friday, the rupee inched up 1 paisa to settle at 83.45 against the US dollar. Indian rupee has not been able to make a dent against the dollar as FPIs and oil companies continue to buy US dollars and ensure it remains range bound, as RBI protects it from depreciation beyond 83.50, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 105.16, .

Rupee to track Asian peers; bonds eye moves in US yields, foreign flows

The rupee closed marginally higher at 83.4225 on Friday. It logged a slight weekly loss compared to most Asian currencies, which rose week-on-week