Page 37 - Us Dollar

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

Eminent Indian Americans commit $100 million for development of Amritsar

A group of eminent Indian-Americans have come together to announce a commitment of USD100 million for startups towards the socio-economic development of Amritsar, the first of its kind initiative for any Indian city by the diaspora. In collaboration with the Federation of Indian Chamber of Commerce and Industries (FICCI) and the US-India Strategic Partnership Forum (USISPF), a group of eminent Indian-Americans and Indians living in the US had their first meeting in a Maryland suburb of Washington DC to announce the formation of Viksit Amritsar Initiative. The mega initiative, its founding members said, is inspired by former Indian envoy to the US, Taranjit Singh Sandhu, who after an illustrious diplomatic service, including the last four years in Washington DC, has returned to his home town with the mission of helping the city develop as one of the best in the world both in terms of economic and industrial growth but also as an attractive tourist destination from across the ...

Rupee rises 9 paise to 83.37 against US dollar during early trade

The rupee climbed 9 paise to 83.37 against the US dollar in early trade on Friday, tracking strong sentiment in the domestic equity markets and a weak American currency against major rivals overseas. Forex traders said the outflow of foreign funds and elevated level of crude oil prices, however, weighed on the Indian currency. At the interbank foreign exchange, the domestic unit opened strong at 83.40 and touched the intra-day peak of 83.36 against the greenback. The local unit later traded at 83.37 against the dollar in the morning deals, registering a gain of 9 paise from its previous closing level. The rupee had settled 3 paise lower at 83.46 against the dollar on Thursday. According to Gaurang Somaiya, Forex and bullion analyst, Motilal Oswal Financial Services Ltd, the dollar was weighed down against major crosses after the US Federal Reserve kept the key interest rate unchanged for the sixth consecutive time. Also, the ongoing pressures and a tight labour market indicated a

Yen set for strongest week in over a year; dollar waits on US jobs

The yen rose to a session-high of 152.895 per dollar in early Asia trade and was set to clock a weekly gain of more than 3 per cent , its largest since December 2022

RBI's forex intervention eases as conditions turn favourable for rupee

India's current account will wing to a surplus in the March quarter, economists said

Yen surges against US dollar on suspected intervention by Japan authorities

The difficulty in arresting the yen's slide has been made clear by the speed at which the currency has reversed direction after its spike

Asian stocks off to shaky start as US Fed flags delays to rate cuts

Much of Asia is returning from a holiday that had closed markets on Wednesday, though Chinese bond, currency and stock markets remain shut through the rest of the week

US rates outlook, dollar clip emerging market local bond returns: Amundi

"That's obviously a big challenge these days as we have seen a repricing in rates," Strigo said during a media briefing, adding he now expected returns of around 5% in local fixed income

Yen holds on to sharp gains after suspected intervention, Fed in focus

Japanese currency was trading a touch lower 0.16% at 156.56 per dollar, but was well off its 34-year low of 160.245 hit on Monday

Rupee depreciates 3 paise to 83.48 against US dollar in early trade

The rupee depreciated 3 paise to 83.48 against the US dollar in early trade on Tuesday amid a strong American currency against major Asian rivals and an upward movement in the crude oil prices. However, positive sentiment in the domestic equity markets and some inflow of foreign capital in the Indian equities capped the fall in the Indian currency, forex traders said. At the interbank foreign exchange, the domestic unit opened at 83.46 against the greenback and then slipped further to 83.48, registering a loss of 3 paise compared to its previous closing level. On Monday, the rupee had settled 7 paise lower at 83.45 against the US dollar. Gaurang Somaiya, Forex and bullion analyst, Motilal Oswal Financial Services Ltd, said the rupee weakened amidst rising concerns that the US Federal Reserve could delay interest rate cuts as the country's inflation stayed above the central bank's 2 per cent target. "US economy remains resilient and with a hawkish stance from the Fed, the dollar ..

Yen hits weakest level since April 1990, trips past 160 per US dollar

The yen's move barely affected the euro and sterling, both of which stayed near the bottom of the ranges hit during Friday's volatile session

Rupee depreciates 5 paise to 83.33 against US dollar in early trade

The rupee depreciated 5 paise to 83.33 against the US dollar in early trade on Friday, tracking a strong greenback overseas and a positive trend in domestic equities. However, elevated crude prices in international markets and unabated foreign capital outflows capped the gains in domestic unit, forex traders said. At the interbank foreign exchange, the domestic unit opened weak at 83.30 against the dollar and then further slipped to 83.33, registering a fall of 5 paise over its previous close. In the initial trade, the domestic unit was moving in a tight range of 83.35-83.30 against the American currency. In the previous session on Thursday, the rupee had settled at 83.28 against the dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.09 per cent to 105.54. Brent crude futures, the global oil benchmark, rose 0.35 per cent to USD 89.32 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 103.64 point

Trump advisers discuss penalties for nations that move away from dollar

As president, Trump weighed forcibly weakening the dollar to support the domestic manufacturing sector

RBI flags unauthorised forex entities offering exorbitant returns

In several instances, the transactions conducted in these accounts do not align with the stated purpose for their establishment

Rupee appreciates 6 paise to 83.30 against US dollar in early trade

The rupee appreciated 6 paise to 83.30 against the US dollar in early trade on Tuesday, supported by a firm trend in domestic equities. At the interbank foreign exchange market, the local unit opened at 83.37 against the greenback. It later touched 83.30 in initial trade, registering a rise of 6 paise from its previous close. On Monday, the rupee appreciated by 8 paise to close at 83.36 against the US dollar. "There has been no adverse geopolitical development in the last 24 hours and that has helped restore some confidence and improved market sentiment," IFA Global Research Academy said in a research note. "Markets are looking forward to earnings from US' big tech companies and if they meet or beat expectations, we could see risk sentiment remain stable for some time despite elevated US yields," the note said, adding that the rupee is likely to trade in 83.25-83.40 range with sideways price action. Meanwhile, the dollar index, which gauges the greenback's strength against a baske

Rupee appreciates 5 paise to 83.39 against US dollar in early trade

The rupee appreciated 5 paise to 83.39 against the US dollar in early trade on Monday, supported by a firm trend in domestic equities. Forex traders said the local unit gained ground as the American currency and crude oil prices retreated from their elevated levels. At the interbank foreign exchange market, the local unit opened at 83.40 against the greenback. It later touched 83.39 in initial trade, registering a rise of 5 paise from its previous close. On Friday, the rupee appreciated 8 paise to close at 83.44 against the US dollar. Forex traders said there was likely some intervention by the Reserve Bank of India which resulted in the pullback of the local unit. "The Indian forex reserves fell to USD 643.162 billion after rising for 7 weeks in succession as the Reserve Bank of India (RBI) would have sold dollars to rein in the rupee," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. Meanwhile, India's forex reserves dropped by USD