Page 42 - Us Dollar

US dollar edges higher as risk sentiment sours, treasury yields rise

Analysts, however, see limited room for yields and the dollar to extend gains

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

The rupee declined 3 paise to 83.15 against the US dollar in a restricted trade on Monday due to a stronger greenback in overseas markets and foreign fund outflows. A correction in crude oil prices and firm domestic stock markets in opening trade capped the losses of the rupee, according to forex dealers. The local unit opened lower by 3 paise at 83.15 against the greenback at the interbank foreign exchange market. The rupee moved in a tight range of 83.15 to 83.09 against the dollar in morning deals before trading at 83.15. It had closed almost flat at 83.12 on Friday. Foreign Portfolio Investors (FPIs) have withdrawn over Rs 12,000 crore from Indian equities so far this month, mainly due to a sustained rise in US bond yields and the uncertain environment resulting from the Israel-Hamas conflict. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, gained 0.12 per cent to 106.30. Oil prices eased on Monday with the global oil ...

Weekend Bites: More trouble in IT paradise, RBI's plans, and taxing expats

In which we munch over the week's platter of news and views

At $3.9 bn in August, RBI turns net seller of dollar for first time in FY24

The central bank bought $5 billion, while it sold $43.6 billion of foreign currency in August

Rupee depreciates 5 paise to 83.18 against US dollar in early trade

The rupee depreciated by 5 paise to 83.18 against the US dollar in early trade on Friday due to unabated foreign fund outflow amid rising crude oil prices. Negative equity market sentiment and a strong dollar also weighed on the Indian currency, forex traders said. At the interbank foreign exchange, the domestic unit opened weak at 83.17 against the dollar and then touched the lowest level of 83.20 against the greenback. It later traded at 83.18 against dollar, registering a loss of 5 paise over its previous close. On Thursday, the rupee settled 15 paise higher at 83.13 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.03 per cent to 106.28. Analysts attributed the decline in rupee to a record rise in US Treasury yield even as US Federal Reserve Chair Jerome Powell on Thursday hinted at a longer period of monetary tightening due to higher-than-expected inflation numbers. "Trading boundaries are now

RBI likely selling US dollars to defend rupee from sliding to record low

MUMBAI (Reuters) - The Reserve Bank of India is likely selling U.S. dollars again to defend the rupee and keep it from sliding to a record low, three traders told Reuters on Thursday

RBI's $5 billion USD/INR swap expiry fuels dollar shortage concern

The Reserve Bank of India (RBI) had conducted a $5 billion sell/buy dollar/rupee swap last year. Under this swap, the RBI sold $5 billion to banks on April 28, 2022

Forex reserves further drop by $2.17 billion to $584.74 billion: RBI

The country's forex reserves dropped by a further USD 2.166 billion to USD 584.742 billion for the week ended October 6, the RBI said on Friday. India's forex kitty had gone down by USD 3.794 billion to USD 586.908 billion in the previous week. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year. For the week ended October 6, the foreign currency assets, a major component of the reserves, decreased by USD 707 million to USD 519.529 billion, according to the Weekly Statistical Supplement released by the RBI. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves were down by a sharp USD 1.425 billion to USD 42.306 billion, the

Traders puzzled why the RBI spends billions fighting stronger dollar

Volatility in the rupee is hovering near the lowest in almost two decades and the currency has avoided breaching a record low even as rising US rates wreaked havoc in emerging markets

RBI likely selling US dollars to keep rupee off record low: Traders

"It's the same story. The RBI is there, like it is there on most days," a spot trader at a private sector bank said

Dollar pauses ahead of Fed minutes, US Treasury yield moves weigh

U.S. Treasury yields continued to slide, pinning the dollar close to two-week lows as markets digest recent comments from policymakers that the Fed may not need to tighten monetary policy further

India's forex reserves declines by $3.79 billion to $586.91 billion

In the previous reporting week, the overall reserves had declined by USD 2.335 billion to USD 590.702 billion as of September 22

Forex pile remains Asia's first defense against relentless US dollar

Focus is shifting to what steps authorities in the region may take after verbal warnings and stronger fixings failed to arrest the downdraft in their currencies

Treasury yields kept dollar firmly on front foot as others currencies fall

The combination of that and an agreement to avert a partial U.S. government shutdown sent benchmark Treasury yields to as high as 4.706% on Tuesday, a 16-year peak, in turn driving the dollar higher

Gold extends fall as strong dollar, higher US interest rates take toll

Spot gold was down 0.8% by 9:54 a.m. EDT (1354 GMT) at $1,835.40 per ounce, its lowest since March 10. U.S. gold futures slipped 0.7% to $1,853.00

Strengthening dollar puts yen in striking distance of 150, near 1-year low

The yen eased to 149.83 per dollar, its weakest in more than 11 months, moving ever closer to the 150 mark that some traders believe could prompt intervention by Tokyo to support the currency

Standard Chartered does not see rupee cross 84 even if dollar climbs

Sinha said the RBI will continue to maintain tight liquidity conditions to help support the rupee unless "we see big shocks from the global markets or if crude starts trending higher"

Rupee appreciates 5 paise to 83.23 against US dollar in early trade

The rupee rose 5 paise to 83.23 against the US dollar in early trade on Wednesday, recovering from its steep loss in the past two sessions amid a massive selling by foreign equity investors and a strengthening American currency. Weak sentiment in the global equity markets and surging crude oil prices also weighed on the Indian currency, forex traders said. At the interbank foreign exchange, the domestic unit opened at 83.23 and traded in a narrow range of 83.21 to 83.24 against the greenback. It later traded at 83.23 against the dollar, registering a gain of 5 paise from its previous close. The rupee lost 34 paise in the past two sessions. It closed 15 paise lower at 83.28 against the dollar on Tuesday, a day after registering a loss of 19 paise. The downward movement of the rupee was attributed to a strengthening dollar amid a record rise in US Treasury yields. Also, the US dollar surged to a ten-month high level after a Federal Reserve policymaker hinted at a prolonged interest r

Dollar hits 10 month high as US yields spike, yen recovers from dip

Federal Reserve policymaker Neel Kashkari said on Monday that, given the strength of the U.S economy, interest rates should probably rise again and be held "higher for longer"

Rupee appreciates by 38 paise to 82.75 against US dollar in early trade

The rupee appreciated by 38 paise to 82.75 against the US dollar in early trade on Friday, as the inclusion of India in the JPMorgan bond index boosted investor sentiment. Forex traders said the decision of JPMorgan Chase & Co to include Indian government bonds in its benchmark emerging-market index, is expected to have far-reaching implications for India's debt market and global investors. At the interbank foreign exchange, the domestic unit opened strong at 82.75, registering a gain of 38 paise from its previous close. On Thursday, the rupee consolidated in a narrow range to settle 2 paise lower at 83.13 against the dollar. India's inclusion in a major global bond index will open doors to increased foreign investment in the nation's debt market, traders said. "The inclusion of India in the JPMorgan bond index has had a favourable effect on the rupee, with the currency showing strength by appreciating around 0.42 per cent in the NDF markets and reaching levels around 82.80," CR .