Page 40 - Us Dollar

Rupee falls 2 paise to close at 83.04 against dollar amid latter's demand

The rupee consolidated in a narrow range and depreciated by 2 paise to close at 83.04 (provisional) against the US dollar on Thursday, tracking a strong American currency and elevated crude oil prices in the international market. Forex traders said the Indian currency depreciated as foreign fund outflows weighed on the rupee. However, positive domestic markets cushioned the downside. At the interbank foreign exchange market, the local unit opened at 83.00 and finally settled at 83.04 (provisional) against the dollar, down by 2 paise from its previous close. During the day, the rupee witnessed a range-bound movement. It saw an intra-day high of 82.99 and a low of 83.04 against the American currency. On Wednesday, the rupee appreciated 6 paise to close at 83.02 against the US dollar. "We expect the rupee to trade with a slight positive bias on rise in risk appetite in global markets and a negative tone in the US dollar. Overnight decline in global crude oil prices and better than ..

Rupee appreciates 3 paise to 82.99 against US dollar in early trade

The rupee appreciated 3 paise to 82.99 against the US dollar in early trade on Thursday, amid a positive trend in domestic equities. Forex traders said rupee is trading in a narrow range as strong American currency and elevated crude oil prices weighed on the local unit and restricted the uptick in the domestic unit. At the interbank foreign exchange, the domestic currency opened at 83.00, then touched 82.99 against the greenback in initial deals, registering a rise of 3 paise from its previous close. On Wednesday, the rupee appreciated 6 paise to close at 83.02 against the US dollar. "In the ongoing tug-of-war between positive and negative factors influencing the market, there is a tilt towards the positive aspects favouring the rupee," CR Forex Advisors MD- Amit Pabari said. Momentum suggests the pair will likely consolidate within the narrow range of 82.80 to 83.10, with any upward movement above 83 seen as a selling opportunity, Pabari said. "Overall, market sentiment was buo

Rupee settles flat at 83 against US dollar, touches intraday high of 82.98

The rupee settled flat at 83 against the US dollar on Tuesday, as the support from a rally in domestic equities was negated by a strong greenback overseas and rising crude oil prices. At the interbank foreign exchange, the rupee opened at 83 against the dollar, and touched an intraday high of 82.98 and a low of 83.02. The rupee finally settled at 83.00 (provisional), unchanged from its previous close. On Monday, the rupee appreciated 7 paise to close at 83 against the US dollar. Meanwhile, India's industrial production growth slowed to 3.8 per cent in December 2023, mainly due to poor performance of mining and power generation segments, according to official data released on Monday. Retail inflation declined to a three-month low of 5.1 per cent in January, mainly due to subdued prices of vegetables, fruits and other food items, according to government data released on Monday. "We expect the rupee to trade with a slight positive bias on positive Asian markets and fresh foreign inf

Rupee rises 7 paise to close at 83 against dollar on easing crude prices

The rupee appreciated 7 paise to close at 83 (provisional) against the US dollar on Monday, on softness in the American currency and easing crude oil prices. However, weak domestic markets and foreign fund outflows capped sharp gains, forex traders said. At the interbank foreign exchange market, the local unit opened at 83.01 against the greenback. The unit hit an intra-day high of 82.98 and a low of 83.02. The local unit finally settled at 83 (provisional) against the dollar, higher by 7 paise from its previous close of 83.07. "We expect the rupee to trade with a slight positive bias, positive global equities and a slight correction in the greenback. "However, any bounce back in crude oil prices amid ongoing geopolitical tensions in the Middle East and selling pressure from foreign investors may weigh on the rupee at higher levels," said Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas. Traders may take cues from India's CPI and IIP data. "Headline inflation is expect

Dollar eases as market shrugs off rise in US monthly consumer prices

The dollar index fell 0.07% to 104.04, while the euro was up 0.08% to $1.0785

Rupee depriciates 5 paise to 83.01 against US dollar in early trade

The rupee depreciated 5 paise to 83.01 against the US dollar in early trade on Friday, tracking a strong American currency and elevated crude oil prices in the international market. Forex traders said a negative trend in domestic equities and foreign fund inflows weighed on investor sentiments. At the interbank foreign exchange, the rupee opened at 82.96 against the dollar and touched an early low of 83.01 and a high of 82.95 in initial trade. On Thursday, the rupee settled on a flat note at 82.96 against the US dollar, after the Reserve Bank decided to keep the key policy rate unchanged for the sixth time in a row to maintain a tight vigil on inflation. "The RBI kept rates on hold in its MPC meeting held on Thursday and also did not give any indication of when it will be able to cut rates prompting a fall in equity markets. It said that it cannot give any forward guidance leaving everyone guessing on the timing of the rate cycle," Anil Kumar Bhansali, Head of Treasury and Executiv

Rupee appreciates 2 paise to 83.03 against US dollar in early trade

The rupee appreciated 2 paise to 83.03 against the US dollar in early trade on Wednesday supported by positive domestic equities. Moreover, the weakness of the American currency in the overseas market also aided sentiments. At the interbank foreign exchange, the rupee opened at 83.03 against the dollar, registering a gain of 2 paise over its previous close. On Tuesday, the rupee declined marginally by 2 paise to close at 83.05 against the US dollar. Forex traders said the rupee is trading in a narrow range as factors such as capital inflows and stable domestic economic data supported sentiments, while hawkish FED, strong US data and global tensions weighed on the local unit. Moreover, investors were cautious as the Reserve Bank's monetary policy committee (MPC), the six-member rate-setting panel, began the deliberation on Tuesday. The central bank will announce the key interest rate decision on Thursday. Meanwhile, the dollar index, which gauges the greenback's strength against a

Rupee depreciates 4 paise to 83.02 against US dollar in early trade

The rupee depreciated 4 paise to 83.02 against the US dollar in early trade on Monday, tracking a strong American currency and rising crude oil prices in the international market. However, positive cues from the domestic equity markets and inflow of foreign funds supported the Indian currency, forex traders said. Investors will also keep a close watch on the Reserve Bank's monetary policy decision to be announced later this week, they said. At the interbank foreign exchange, the rupee opened at 83.03 against the dollar and touched a low of 83.04 before gaining marginally to trade at 83.02, down 4 paise over its previous close. The rupee settled flat at 82.98 against the dollar on Friday, a day after rising 6 paise on the day of the Union interim budget in which the government hinted at faster fiscal consolidation and lower borrowings in the next fiscal year. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.11 per

Rupee hits two-week high, forward premiums choppy; volumes improve

The rupee ended at 82.9650 to the U.S. dollar, up from 83.0425 in the previous session. The currency hit its highest intraday level of 82.9325 since Jan 16

ADB mobilises Rs 1,250 cr through issuance of green bonds in local market

The Asian Development Bank on Wednesday said it has garnered Rs 1,250 crore (about USD 150 million) through its largest local currency green bond issue so far. The issue is structured as a 4-year currency linked bond, with a one-time repayment at maturity and carrying a fixed interest rate of 6.72 per cent per year, ADB said in a statement. The bond is denominated in Indian rupees but settled in United States dollars, with returns to investors indexed to the performance of the Indian currency, it said. Such bond structures are popularly known as masala bonds in the Indian financial community, it said. Proceeds of the green bond will be deployed to finance ADB's private sector renewable energy and green finance projects, which adhere to ADB's priority for tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability, it said. "Sustainability is a key driver for international capital markets, and ADB is long established as a regular is

Rupee rises 6 paise to close at 83.04 against US dollar on strong sentiment

The rupee appreciated 6 paise to 83.04 (provisional) against the US dollar on Wednesday, supported by a firm trend in domestic equities. Market participants remained cautious ahead of the interim Budget, scheduled to be presented on February 1, traders said, adding that a strengthening American currency in the overseas market also capped the sharp gain in the local unit. At the interbank foreign exchange market, the local unit opened at 83.11 against the greenback. The unit hit an intraday low of 83.12 and a high of 83.01. The local unit finally settled at 83.04 (provisional) against the dollar, higher by 6 paise from its previous close. "The Indian rupee gained on Wednesday on positive domestic markets and expectations of fresh FII inflows. "We expect the rupee to trade with a slight negative bias on the strong Dollar on expectations that the US Federal Reserve will keep its monetary policy unchanged and declining odds of a rate cut in March 2024," Anuj Choudhary Research Analyst

Rupee expected to weaken as odds of Fed rate cut in March diminish

The rupee's intraday range in the last four sessions has been just 2 to 6 paisa

Rupee trades in narrow range against US dollar due to rising crude prices

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.15 per cent lower at 103.45

Rupee depreciates 4 paise to 83.15 against US dollar in early trade

The rupee depreciated 4 paise to 83.15 against the US dollar in the morning session on Monday, amid elevated crude oil prices and dollar demand from importers. Forex traders said the rupee is trading in a narrow range as the support from positive domestic equities was negated by foreign fund outflows. At the interbank foreign exchange, the rupee opened at 83.14 against the dollar, then fell to 83.15, registering a decline of 4 paise from its previous close. On Thursday, the rupee rose 1 paisa in a range-bound trade to close at 83.11 against the US dollar. Forex market was closed on Friday on account of Republic Day. "The rupee looks to be in a range in today's trading session as the market awaits for the US Federal Reserve interest rate decision in the week," Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, said. Meanwhile, brent crude futures, the global oil benchmark, was trading higher 0.47 per cent at USD 83.94 per barrel. "Oil p

Taking the lead: Rupee best-performing Asian currency so far in January

Market participants expect rupee to appreciate further in the current calendar year

Dollar up after US GDP data, euro falls after ECB president's remarks

Next week, the Fed is widely expected to stand pat but comments from Chair Jerome Powell will be intensely scrutinized to assess if the U.S. central bank is ready to start cutting interest rates

Amid muted equities trend, Rupee opens flat against dollar in early trade

The rupee opened on a flat note against the US dollar in the morning session on Thursday, amid a muted trend in domestic equities. Forex traders said the rupee is trading in a narrow range as rising crude oil prices, strong American currency, and sustained foreign fund outflows dented sentiments. At the interbank foreign exchange, the rupee opened at 83.13 against the dollar and touched an initial high of 83.11 and an early low of 83.14 against the greenback. On Wednesday, the rupee had settled at 83.12 against the US dollar. "Against the given odds favouring the rupee, challenges persist primarily due to the strengthening US Dollar, geopolitical tensions, and the ongoing Red Sea issue," CR Forex Advisors MD Amit Pabari said. Additionally, India's liquidity deficit has widened to Rs 3.34 trillion (USD 40.18 billion) as of January, limiting the Reserve Bank of India from allowing the rupee to appreciate towards its fair value. Despite these obstacles, the overall outlook suggests

Rupee to appreciate to 82 per dollar in CY24, predicts CareEdge Ratings

The rupee settled at Rs 83.12 per Dollar on Wednesday. It moved in a narrow range of Rs 83.07 per Dollar to Rs 83.17 a Dollar in the current week as the RBI and oil companies continue to absorb inflow

Gold prices firms on softer dollar as market await US economic data

Spot gold edged up 0.2% to $2,032.88 per ounce by 12:50 GMT. U.S. gold futures rose 0.42% to $2,034.30

Rupee trades narrow, settles 2 paise higher at 83.13 against dollar

The rupee stayed range-bound and settled 2 paise (provisional) higher at 83.13 against the US dollar on Wednesday. Forex traders said the rupee is trading in a narrow range as positive domestic markets and a soft US dollar supported the rupee while rising crude oil prices and foreign fund outflows capped gains. At the interbank foreign exchange market, the local unit opened at 83.15 against the greenback. The unit oscillated between an intraday low of 83.16 and a high of 83.11 against the greenback and finally settled at 83.13 against the dollar, higher by 2 paise (provisional) from its previous close. On Tuesday, the rupee had settled at 83.15 against the US dollar. "We expect the rupee to trade with a slight positive bias as the US Dollar has softened ahead of PMI data and gains in the Japanese Yen. Markets expect PMI data to be better than the previous month's reading. However, concerns over the Red Sea region and elevated crude oil prices may cap the sharp upside," said Anuj ..