Page 38 - Us Dollar

As oil rises, rupee falls 6 paise to 83.58 against US dollar in early trade

The rupee depreciated 6 paise to 83.58 against the US dollar in early trade on Friday, weighed down by a negative trend in domestic equities and elevated crude oil prices. Forex traders said the strength of the American currency in the overseas market also dented investor sentiments. At the interbank foreign exchange, the rupee opened at 83.58 against the dollar, registering a fall of 6 paise over its previous close. The local unit pared the initial losses and also touched a high of 83.46 against the American currency in early trade on Friday. On Thursday, the rupee rebounded from its all-time low level and closed 9 paise higher at 83.52 against the US dollar Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 106.17, higher by 0.02 per cent. Brent crude futures, the global oil benchmark, rose 2.46 per cent to USD 89.25 per barrel. "Brent Oil prices moved up to USD 90.48 per barrel after Iran threatened to review its stan

Rupee appreciates 12 paise to 83.49 against US dollar in early trade

The rupee rebounded from its all-time low levels and appreciated 12 paise to 83.49 against the US dollar in early trade on Thursday, supported by a firm trend in domestic equities and tracking gains in Asian currencies. Forex traders said the local unit gained ground as the American currency retreated from its elevated levels. At the interbank foreign exchange market, the local unit opened at 83.51 against the greenback. It later touched 83.49 in initial trade, registering a rise of 12 paise from its previous close. On Tuesday, the rupee plunged 17 paise to hit its lowest level of 83.61 against the US dollar for the second time in four weeks. Forex and money markets were closed on Wednesday on account of 'Ram Navami'. The Indian rupee which closed at record lows on Tuesday opened around 83.51 this morning as Asian currencies gained a bit against the dollar, said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. The rupee is likely to trad

Rupee hits new low of 83.54 against US dollar amid global worries

The Reserve Bank of India likely intervened in the foreign exchange market by selling dollars through state-owned banks, which protected the rupee from further depreciation

Rupee depreciates 9 paise to 83.53 against US dollar in early trade

The rupee depreciated 9 paise to 83.53 against the US dollar in early trade on Tuesday, weighed down by a strong American currency and elevated crude oil prices. Forex traders said a negative trend in domestic equities and sustained foreign fund outflows also dented investor sentiments. According to interbank foreign exchange, the rupee opened at 83.51 against the dollar and touched a low of 83.53 in the initial trade, registering a fall of 9 paise over its previous close. On Monday, the rupee declined 6 paise to settle at 83.44 against the US dollar. Rupee fell further as foreign portfolio investors continued to buy dollars and sell stocks on risk aversion due to Middle East tensions and US yields heading higher, said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. "Need to watch what the Reserve Bank of India (RBI) does to counter the rupee depreciation," Bhansali added. Meanwhile, the dollar index, which gauges the greenback's streng

Rupee depreciates 6 paise to 83.44 against US dollar in early trade

The rupee declined 6 paise to 83.44 against the US dollar in early trade on Monday, tracking negative equity markets and withdrawal of foreign funds amid renewed concerns over geopolitical tensions in the Middle East. Forex traders said a strong American currency in the overseas market and curde oil prices hovering above USD 90 per barrel also dented investor sentiments. At the interbank foreign exchange, the rupee opened at 83.46 against the dollar and gained slightly to 83.44 in the initial trade, registering a fall of 6 paise over its previous close. On Friday, the rupee closed 7 paise lower at 83.38 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.08 per cent lower at 105.75. The higher dollar index was attributed to diminishing expectations of an immediate rate cut by the US Federal Reserve. Brent crude futures, the global oil benchmark, declined 0.31 per cent to USD 90.17 per barrel.

US dollar turns lower after producer prices for March, jobless claims data

A separate report showed the U.S. initial jobless claims were 211,000 for the week ended April 6, compared with a forecast for 215,000 claims

Rupee appreciates 15 paise to 83.16 against US dollar in early trade

The rupee appreciated 15 paise to 83.16 against the US dollar in early trade on Wednesday, tracking its Asian peers amid a positive trend in domestic equities. Forex traders said investor sentiments got a boost as crude oil prices retreated from their elevated levels. At the interbank foreign exchange market, the local unit opened at 83.23 against the greenback. It later touched 83.16 in initial trade, registering a rise of 15 paise from its previous close. On Monday, the rupee settled on a flat note at 83.31 against the US dollar. Forex and money markets were closed on Tuesday on account of 'Gudhipadwa'. "The Indian rupee is expected to rise to 83.21 levels as the dollar remained sideways and Asian currencies rose this morning," 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 104.14. Brent crude futures, the globa

US dollar drifts lower ahead of inflation data; yen nears 34-year lows

Japanese workers' real wages fell in February for a 23rd consecutive month, data showed on Monday, suggesting higher prices kept up pressure on consumers' spending appetite

Rupee rises 8 paise to 83.23 against US dollar in early trade today

The rupee appreciated 8 paise to 83.23 against the US dollar in early trade on Monday, supported by positive domestic equities and fresh foreign fund inflows. Forex traders said investor sentiments got a boost as crude oil prices retreated from their elevated levels, while the strength of the American currency in the overseas market weighed on the local unit and restricted the up move. At the interbank foreign exchange market, the local unit opened at 83.27 against the greenback. It later touched 83.23 in initial trade, higher 8 paise from its previous close. On Friday, the rupee appreciated 8 paise to close at 83.31 against the US dollar as the Reserve Bank of India kept the benchmark interest rate unchanged at 6.5 per cent for the seventh time in a row. The rupee is expected to trade in a range as the Reserve Bank continues to protect it from falling further while inflows may bring it to 83.20, Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors

German investigators seize fake US bills with a face value of over $103 mn

German investigators said on Friday they have seized counterfeit US dollar bills with a face value of over USD 103 million, which apparently came from Turkey and were being stored ahead of transport to the United States. The criminal police office in Schleswig-Holstein, Germany's northernmost state, said officers found 75 cartons of fake dollars in searches of an apartment and two company addresses after tips from US authorities led them to firms run by a man who is suspected of exporting counterfeit money to the US in the past. The bills, known as prop copy or movie money," could be recognised as fakes when scrutinised closely, but Germany's central bank and US authorities believe they could be mistaken for real money in everyday life, police said in a statement. They believe the counterfeits came from a wholesaler in Turkey who was using one of the suspect's export firms in Juebek, near the Danish border, for interim storage before the bills were shipped to the US. The 42-year-ol

Rupee rises 9 paise to 83.30 against US dollar post RBI policy decision

The rupee appreciated 9 paise to close at 83.30 (provisional) against the US dollar as the Reserve Bank of India on Friday kept the benchmark interest rate unchanged at 6.5 per cent for the seventh time in a row. However, a strong US dollar against major rivals overseas and elevated crude oil prices capped sharp gains for the local unit, forex traders said. At the interbank foreign exchange market, the local unit opened at 83.44 against the greenback. The unit hit an intra-day high of 83.26 and a low of 83.45. The local unit finally settled at 83.30 (provisional) against the dollar, 9 paise higher from its previous close. On Thursday, the rupee recovered 14 paise to close at 83.39 against the US dollar. The rupee gained as the RBI's monetary policy remained the focus. The central bank kept CPI and GDP projections for FY25 unchanged at 4.5 per cent and 7 per cent, respectively, said Anuj Choudhary Research Analyst, Sharekhan by BNP Paribas. "After a detailed assessment of the evol

Rupee declines 6 paise to 83.45 against US dollar in early trade today

The rupee depreciated 6 paise to 83.45 against the US dollar in early trade on Friday, as market participants remained cautious ahead of the announcement of the Reserve Bank of India's rate-setting panel's decision. Forex traders said the local unit was also weighed down by a strong American currency and elevated crude oil prices. Moreover, a negative trend in domestic equities and sustained foreign fund outflows also dented investor sentiments. According to interbank foreign exchange, the rupee opened at 83.44 against the dollar and touched a low of 83.45 in the initial trade, registering a fall of 6 paise over its previous close. On Thursday, the rupee recovered 14 paise to close at 83.39 against the US dollar. Traders said market participants are awaiting the RBI MPC policy decision for further cues. The Reserve Bank's rate-setting panel on Wednesday started its three-day deliberations on the next set of monetary policy. The decision taken at the meeting of the Reserve Bank ...

Rupee trades in narrow range at 83.36 against US dollar in early trade

Forex traders said a negative trend in domestic equities and the overall strength of the American currency in the overseas market weighed on investor sentiments

Dollar is more than a currency

Despite predictions of a tough year, the greenback is overpowering challengers. There's more to this supremacy than mere interest rates

Consultants urge govt to allow deals involving foreign currencies via RBI

Consultants and service providers have urged the government to stop routing domestic deals involving foreign currencies like dollars via the US banking system to avoid transaction fees and save foreign currency. Intercontinental Consultants and Technocrats (ICT) chairman K K Kapila said at present a transaction fee is levied on US dollar transactions within the country. Citing an example, Kapila said payment in USD from Delhi to even nearby Faridabad from one entity to the other in the current dispensation is required to be undertaken through the US banking system. "This should be undertaken directly through the Reserve Bank of India and there should be no requirement of routing them through the American Banking system," he said. Kapila pointed out that a small country like the Philippines does not route its internal foreign exchange transactions through the United States. India can also do the same, he added.

Rupee turns flat at 83.33 against US dollar amid high crude oil prices

The rupee turned flat at 83.33 against the US dollar in early trade on Thursday amid a strong American currency and higher crude oil prices. Forex traders said the positive equity markets and inflow of foreign funds resisted the fall in the Indian currency. At the interbank foreign exchange, the rupee opened at 83.32 and lost further to trade at the previous closing level of 83.33 against the greenback in initial deals. On Wednesday, the rupee declined 4 paise to close at 83.33 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.01 per cent higher at 104.07. Brent crude futures, the global oil benchmark, rose 0.53 per cent to USD 86.56 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 170.43 points, or 0.23 per cent, higher at 73,166.74 points. The broader NSE Nifty rose 53.45 points, or 0.24 per cent, to 22,177.10 points. Foreign institutional investors (FIIs) we

RBI likely sold US dollars after rupee slips to fresh record low: Traders

The rupee fell to a record low of 83.45 in the closing minutes of the session. It was at 83.37 against the dollar as of 03:28 p.m. IST, down by 0.1% compared with its close of 83.28 on Tuesday

Rupee recovers from all-time lows; rises 29 paise to 83.32 per dollar

The rupee recovered from its all-time low level and appreciated 29 paise to 83.32 against the US dollar in early trade on Tuesday. At the interbank foreign exchange, the domestic currency opened at 83.33 and it gained ground and touched 83.32 against the greenback in initial deals, registering a gain of 29 paise from its previous close. On Friday, the rupee depreciated 48 paise to settle at an all-time low of 83.61 against the American currency. Forex, equity markets were closed on Monday on account of Holi. Market analysts said, for the domestic unit, record forex reserves provide a cushion, enabling the Reserve Bank to mitigate the rupee's downside. India's forex reserves increased by USD 6.396 billion to USD 642.492 billion for the week ended March 15, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had risen by USD 10.47 billion to USD 636.095 billion. "With RBI accumulating reserves they would endeavour to protect the rupee to some exte

Rupee expected to regain its lost ground against Dollar in April: BS Poll

India's govt bond inclusion into JP Morgan index to boost $ inflows, say economists

Rupee falls 35 paise to hit all-time low of 83.48 against US dollar

The rupee depreciated 35 paise to settle at an all-time low of 83.48 against the American currency on Friday, tracking a surging greenback against major crosses in the overseas markets and weak Asian peers. Forex traders said foreign fund outflows also weighed on the local unit. At the interbank foreign exchange market, the local unit opened weak at 83.28 against the greenback, and finally settled at a record low of 83.48 (provisional), registering a fall of 35 paise from the previous close of 83.13. In intraday trade, the rupee touched a low of 83.52 against the American currency. The rupee had earlier recorded its lowest closing level of 83.40 on December 13, 2023. According to Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas, the US dollar strengthened on weak euro and pound. Euro declined as the Swiss National Bank (SNB) surprised the markets by cutting interest rates by 25 bps to 1.5 per cent, which raised the odds of a rate cut by the European Central Bank (ECB) i