Page 43 - Us Dollar

Gold steadies amid firm dollar, countering expectations on peak US rates

The market was certain the U.S. central bank will leave rates unchanged in December, with most traders eyeing rate cuts from May 2024.

Rupee appreciates 32 paise to 83.01 against US dollar in early trade

The rupee appreciated 32 paise to 83.01 against the US dollar in morning trade on Wednesday as the American currency retreated from its elevated levels after US inflation came lower than expected. Forex traders said the rupee opened on a bullish note as the American currency weakened after US Inflation eased to its lowest level since September 2021. Moreover, a positive trend in domestic equities boosted investor sentiments. At the interbank foreign exchange, the rupee opened at 83.03, then touched 83.01 against the American currency, higher by 32 paise over its previous close. On Monday, the rupee declined by 5 paise to settle at its all-time low of 83.33 against the American currency. The forex and equity markets were closed on Tuesday on account of Diwali-Balipratipada. From an all-time low it marked last week amid the system outrage, the rupee is trading at nearly a two-month high around 83.00 levels, CR Forex Advisors MD Amit Pabari said. A breakdown below 82.95 will push t

US CPI inflation softens to 3.2% after rising 3.7% in Sep, dollar weakens

"Another rate hike from here looks less likely given this softer inflation data," Miskin said

Crude oil dives 3% to lowest since July on demand worry, strong dollar

Brent crude futures fell $2.95, or 3.5%, to $82.23 a barrel as of 1:41 p.m. ET (1841 GMT). U.S. West Texas Intermediate crude fell to $77.94 a barrel, down $2.88, or 3.6%

As US dollar fades, emerging currencies poised for recovery in 2024: Report

After getting battered for most of 2023, emerging market (EM) currencies have made modest gains against the dollar after the Federal Reserve held interest rates steady last week.

Betting on domestic-driven sectors amid global headwinds: Manish Gunwani

The quarterly results have been mixed until now, with information technology (IT) and consumer sectors being a bit weak while financial has been quite healthy, said Gunwani

Rupee falls 9 paise to close at all-time low of 83.33 against US dollar

The rupee depreciated 9 paise to close at an all-time low of 83.33 (provisional) against the US dollar on Wednesday, tracking a strong greenback against major rivals overseas and unabated foreign capital outflows. Besides, a negative trend in domestic equities and elevated crude oil prices amid geopolitical uncertainty in the Middle East weighed on investor sentiments, according to forex traders. At the interbank foreign exchange, the rupee opened at 83.26 against the dollar. During the trading session, it touched an intra-day low of 83.35 and a high of 83.26 against the American currency. The local unit finally settled at its lifetime low of 83.33 (provisional), lower by 9 paise against its previous close. On Tuesday, the rupee settled at 83.24 against the American currency. "We expect the rupee to trade with a slight negative bias on the strong Dollar amid geopolitical uncertainty in the Middle East. Weak tone in domestic markets may also weigh on the rupee. "Traders may take c

Rupee depreciates 6 paise to 83.23 against US dollar in early trade

The rupee stayed on downward track for the third consecutive session and depreciated by 6 paise to 83.23 against the US dollar in early trade on Thursday, tracking a firm American currency and negative equity market sentiment. Forex traders said the Indian currency was also pressured due to massive selling of equities by foreign investors even as the crude oil prices hovered close to USD 90 a barrel amid geopolitical tensions in the Middle East. At the interbank foreign exchange market, the local unit opened weak at 83.19 and then touched the lowest level of 83.23 against the greenback, registering a loss of 6 paise from its previous close. This is the third day of fall in the rupee. It dropped 4 paise on Monday, followed by a dip of 1 paisa on Wednesday. Forex markets were closed on Tuesday on account of Dussehra. On Wednesday, the rupee closed at 83.17 against the US dollar. Analysts attributed the strengthening dollar to a record rise in the US Treasury yields after positive dat

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