Page 40 - Us Dollar

Driven by market rally, Rupee rises 6 paise to reach 82.89 against dollar

The rupee strengthened for the ninth consecutive session to settle with a gain of 6 paise to 82.89 (provisional) against the US dollar on Monday, driven by a rally in the domestic equity markets. At the interbank foreign exchange, the local currency opened at 82.82 and traded between 82.77 and 82.91 against the greenback during intra-day deals. The unit finally settled at 82.89 (provisional) against the dollar, registering a gain of 6 paise over its previous close amid a bullish trend in domestic equities, wherein benchmark indices climbed to lifetime highs. On Friday, the rupee settled with a gain of 6 paise to 82.95 against the US dollar. In the last nine trading sessions, the local unit added 48 paise since the level of 83.32 against the dollar recorded on January 2. Meanwhile, WPI rose 0.73 per cent year-on-year in December 2023 against 0.26 per cent in the previous month, but lower than the forecast of 0.9 per cent. According to official data, the wholesale price index ...

Rupee appreciates 18 paise to 82.77 against US dollar in early trade

The rupee appreciated 18 paise to 82.77 against the US dollar in early trade on Monday, supported by bullish domestic equities wherein domestic indices touched record highs. At the interbank foreign exchange, the domestic currency opened at 82.82 and touched 82.77 against the greenback in initial trade, registering a rise of 18 paise from its previous close. On Friday, the rupee strengthened for the eighth consecutive session to settle with a gain of 6 paise to 82.95 against the US dollar. The inflows are expected to continue and will the keep the pair of USDINR on the downside as a major support at 82.80 comes up. "Keep a close watch on what the Reserve Bank of India does during the day," Anil Kumar Bhansali, the Head of Treasury and Executive Director Finrex Treasury Advisors LLP, said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 102.35. Global oil benchmark Brent crude was at USD 78.54 per barrel. "Monday's US

Rupee gains 11 paise against the US dollar amid strong FPI inflows

The local currency strengthened for the eighth consecutive trading session on Friday; it touched an intraday high of 82.86 per dollar before settling at 82.92, compared to 83.03 on Thursday

Crypto emerges from the shadows

US decision to allow spot bitcoin ETFs marks the latest win for this asset class

Devaluation of Argentine Peso results in negative impact on Q3 sales: GCPL

FMCG maker Godrej Consumer Products Ltd (GCPL) on Friday said the devaluation of the Argentine Peso by the recently elected government in Argentina has resulted in a "negative mid-single digit impact" on its consolidated sales for the December quarter. The new Argentinian government is taking various measures to improve the economic conditions and one of them was to devalue the Argentine Peso to the US Dollar. In December 2023, the Argentine Peso to the US Dollar was devalued from 361 to 808, as the Argentinian economy is facing hyperinflationary pressures. The IndAS 29 (Indian accounting standards) mandates the YTD statement of Profit and Loss to be translated at the closing rate for presentation in consolidated financial statements, said the Godrej Group FMCG arm in a regulatory statement. It mandates all amounts to be restated into the measuring unit at the end of the reporting period by applying a general price index. "Hence, the impact of the devaluation of the Argentine Peso

At $617 bn, India's foreign exchange reserves slip from near 22-month highs

The reserves witnessed the steepest decline in nearly five months, falling $5.9 billion for the reported week, following a cumulative increase of $32.9 billion in the preceding seven weeks

Dip in US inflation expectations keeps Dollar steady, bitcoin holds gains

A reading on U.S. inflation is due later in the week, which will likely provide further clarity on how much room the Fed has to ease rates this year

Rupee rises 6 paise to 83.08 against US dollar in third straight session

The rupee stayed on upward track for the third straight session and rose 6 paise to 83.08 against the US dollar in early trade on Tuesday amid a weak american currency and favourable crude oil prices. A positive cue from domestic equity markets and sustained buying by foreign institutional investors also supported the Indian currency, forex traders said. At the interbank foreign exchange, the domestic currency opened strong at 83.07 and rose to the level of 83.04 against dollar in initial deals. The local unit then traded at 83.08 against the greenback, registering a rise of 6 paise from its previous close. The domestic currency settled 1 paisa higher at 83.14 on Monday, a day after gaining 9 paise on Friday. Analysts said investors will keep a close watch on domestic inflation numbers as well as the data from the US to be released later this week. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.07 per cent lower

Rupee up 9 paise to 83.06 against US dollar backed by foreign fund inflow

The rupee appreciated 9 paise to 83.06 against the US dollar in early trade on Monday on the back of positive domestic equity markets and inflow of foreign fund. However, forex traders said a strong American currency and volatile crude oil prices weighed on the domestic currency. At the interbank foreign exchange, the domestic currency opened at 83.09, touched the level of 83.04 before trading at 83.06 against the greenback in initial deals, registering a rise of 9 paise from its previous close. On Friday, the domestic currency settled at 83.15 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 102.22 on Monday. Brent crude futures, the global oil benchmark, declined 1.12 per cent to USD 77.88 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 73.62 points or 0.10 per cent higher at 72,099.77. The broader NSE Nifty advanced 25.85 points or 0.12 p

Dollar flat after mixed US data, on pace for best weekly gain since July

For the week, the dollar gained 1.1%, on pace for its best weekly rise since mid-July

Gold prices slip after pressure from stronger US dollar, treasury yields

Spot gold was down 0.2 per cent to $2,038.49 per ounce as of 1223 GMT. U.S. gold futures fell 0.2 per cent to $2,045.40

Dollar set for biggest daily jump since October as US bond yields rebound

The dollar index, which measures the U.S. currency against six counterparts, was last up 0.67% at 102.05, on track for its biggest daily percentage gain since October

Rupee trades narrowly on 2024's first day, settling at Rs 83.24 a dollar

The narrow movement can be attributed to a combination of factors, including the weakening of the dollar index, and the Reserve Bank of India's proactive measures to maintain stability

Rupee dwindles 3 paise, reaches 83.19 against US dollar in early trade

The rupee started the new year on a flat note and depreciated 3 paise to 83.19 against the US dollar in the morning session, amid a negative trend in domestic equities and dollar demand from importers. Forex traders said the rupee is trading in a narrow range as the support from easing crude oil prices was negated by the strength of the American currency in the overseas market. At the interbank foreign exchange, the rupee opened at 83.18 against the dollar, then fell to 83.19, registering a fall of 3 paise over its previous close. In the initial trade, the rupee also touched an early high of 83.15 against the US dollar. On Friday, the rupee appreciated 4 paise to settle at 83.16 against the US dollar on the last trading day of 2023. At the start of the new year, the dollar index was stable at 101.38, and Brent oil was at USD 77.07 per barrel. Asian currencies are also very stable with Yuan at 7.1253, IDR at 15,390, KRW at 1,294.53, said Anil Kumar Bhansali, Head of Treasury and ..

Dollar dips across board as traders stay fixed on US rate cuts next year

The dollar index, which measures the U.S. currency against six rivals, fell to a fresh five-month low of 100.61. The index is on course for a 2.7% decline this year

2023 The India Story: When rupee gained currency against US dollar

The year rupee remained the most stable against the dollar in nearly three decades

Dollar edges lower as investors wait on clues over Fed rate-cut prospects

The greenback is on track to post its worst performance since 2020 against a basket of currencies as anticipation of Fed rate cuts dents the appeal of the U.S. currency relative to peers

Dollar softens, sterling squeezes as focus turns to US inflation figures

The dollar dipped on Thursday while sterling crosses were nursing losses in holiday-thinned trade ahead of the last major data release of the year in Friday's US inflation figures

Rupee ends lower due to high dollar demand from oil firms, US data awaited

The Indian rupee declined on Thursday as dollar demand from local oil companies weighed on the local unit, while traders awaited GDP and labour market data from the United States

RBI predominantly net buyer of US Dollar over past decade in spot market

In the current financial year, the central bank has net bought $1.7 trillion as of October