Page 42 - Us Dollar

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 ..

Rupee opens on flat note against US dollar in early trade on Wednesday

The rupee opened on a flat note and appreciated 1 paisa to 83.14 against the US dollar in the morning session on Wednesday, amid a muted trend in domestic equities. Forex traders said the rupee is trading with a slight negative bias amid selling pressure from foreign investors. At the interbank foreign exchange, the rupee opened at 83.15 against the dollar, then rose to 83.14, registering a rise of 1 paisa over its previous close. In the initial trade, the rupee touched an early low of 83.16 against the US dollar. On Tuesday, the rupee had settled at 83.15 against the US dollar. "Rupee was weakened on Tuesday as FPIs withdrew Rs 3,115 crores from share markets after a 1.5 per cent fall in indices. Wednesday's opening may pave the way to a move beyond 83.20 although in-flows are still there to counter any major demand from FPIs," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. Meanwhile, Brent crude futures, the global oil benchmark

Rupee depreciates 6 paise to 83.13 against US dollar in early trade

The rupee depreciated 6 paise to 83.13 against the US dollar in the morning session, 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 83.11 against the dollar, then fell to 83.13, registering a fall of 6 paise from its previous close. In the initial trade, the rupee also touched an early high of 83.09 against the US dollar. On Friday, the rupee settled at 83.07 against the US dollar. Meanwhile, Brent crude futures, the global oil benchmark, was trading lower by 0.03 per cent to USD 80.04 per barrel. "Brent oil crossed USD 80 per barrel after strong gains on supply concerns due to disruptions in the US and Russia triggered strong gains while caution before central bank meetings also kept prices muted," said Anil Kumar Bhansali, Head of Treasury and Executive Director Fin

M&As register huge drop in 2023, overall deal values halve to $66 billion

Deal values in India more than halved in 2023 to USD 66 billion despite high growth, as investors took a wait-and-watch approach, a report said on Friday. From a volume perspective, there were 1,641 deals -- a drop of more than 20 per cent over 2022 -- the report by consultancy firm Grant Thornton Bharat said. The firm's partner Shanthi Vijetha said lack of liquidity in international markets, volatile market conditions, and cautious investor sentiment hindered deal activities in 2023. "As India's emphasis on sustainability and environmental responsibility positions it as an attractive hub for opportunities in the global economy, we must first overcome challenges such as currency strength and global instability," Vijetha added. Merger and acquisition deal values dropped 72 per cent to USD 25.2 billion across 494 transactions, impacting the overall number the most, the report said. Outbound M&As were at USD 3.2 billion -- as against USD 17.9 billion in the year-ago period -- were ..

Rupee depriciates 1 paisa to 83.15 against US dollar in early trade

The rupee slipped 1 paisa to 83.15 against the US dollar in early trade on Thursday amid rising crude oil prices and withdrawal of foreign funds. Despite a weak American currency against major overseas rivals, negative sentiment in domestic equity markets kept the Indian currency under pressure, forex traders said. At the interbank foreign exchange, the domestic currency opened at 83.16 and inched up to 83.15 against the greenback in morning deals and traded at a loss of 1 paisa over its previous close. On Wednesday, the rupee settled 2 paise lower at 83.14 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.16 per cent lower at 103.04 on Thursday. Analysts said the dollar retreated after the US data released on Wednesday showed more than expected increase in retail sales, dashing financial market's hope of interest rate cut by the Federal Reserve. Brent crude futures, the global oil benchmark

Rupee down by 1 paisa at 83.13 against dollar amid domestic equity selling

Foreign Institutional Investors (FIIs) were net buyers in the equity market on Tuesday as they bought shares worth Rs 656.57 crore, according to exchange data

Rupee depreciates 3 paise to 83.15 against US dollar in early trade

The rupee depreciated 3 paise to 83.15 against the US dollar on Wednesday, tracking a strong greenback against major rivals overseas and massive selling in domestic equity markets. However, inflow of foreign funds in domestic equity markets and softening crude oil prices in the international markets resisted a steep fall in the domestic currency, forex traders said. At the interbank foreign exchange, the domestic currency opened at 83.13 and slipped further to 83.15 against the dollar, registering a loss of 3 paise from its previous close. On Tuesday, the rupee declined 26 paise to settle at 83.12 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 higher at 103.19 on Wednesday. Analysts attributed unabated gains in the US dollar to safe-haven demands amid concern over disruption in global trade through the Red Sea route. Brent crude futures, the global oil benchmark, declined 0.47

Shriram Finance to issue over 3 yr dollar denominated bonds: Bankers

The funds will be used to support social projects and other activities allowed under the Reserve Bank of India's external commercial borrowing guidelines, a term sheet showed

Rupee, govt bonds gain post lower-than-expected December CPI data

The fall in US Treasury yields and foreign portfolio investor (FPI) inflows further aided rupee and bonds

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