Page 45 - Us Dollar

It's time to get real about rupee's role in international financial system

New Delhi's own experiment with Russian oil should be a sobering reminder of how little sanctions have done to dethrone the US currency. Internationalizing the rupee will neither be swift, nor easy

Rupee settles flat at 82.03 against dollar, supported by positive equities

The rupee consolidated in a narrow range and settled flat at 82.03 (provisional) against the US dollar on Tuesday, as the support from positive domestic equities and weak American currency was negated by rising crude oil prices. Market participants remained cautious ahead of retail sales data from the US and the UK's inflation data this week, forex traders said. At the interbank foreign exchange market, the rupee opened at 82.01 against the US dollar and finally settled at 82.03 (provisional), unchanged from its previous close. During the session, the domestic unit witnessed an intra-day high of 81.97 and a low of 82.07. In the previous session on Monday, the rupee had closed at 82.03 against the dollar. The rupee traded with a slight positive bias on a soft dollar and bullish domestic markets. Domestic markets hit new record highs which boosted the local currency. The US dollar has declined to a 15-month low on rising expectations of just one more rate hike by the US Federal Res

RBI continues dollar-buying spree, accumulates $16 billion since Feb

Central bank purchased $7.7 bn in April, the most in two years, and $7.37 bn in May

RBI's returns from investments are set to jump by $6-8 bn in FY24

The globally elevated interest rates are set to buoy the returns from the Reserve Bank's foreign investments to the tune of USD 6-8 billion this fiscal, which will help the monetary authority pay higher dividend to the government and also buffer up the forex reserves a la the FY21 fashion, says an overseas brokerage report. Traditionally the RBI parks more than 70 per cent of the assets overseas, mostly in the US treasury bill, where the interest rates have been on northward ho for a long now. Similar is the case in the EU and elsewhere along with the domestic rates. For the week to July 7, the forex reserves rose by USD 1.23 billion to USD 596.3 billion, but still vastly down from the USD 645 billion peak in October 2021. The reserves have been declining as RBI deploys the kitty to defend the rupee amid pressures caused majorly by global developments. Of the total, the major component of foreign currency assets increased by USD 989 million to USD 528.97 billion. The RBI returns ha

Rupee appreciates 16 paise to 82.25 against US dollar as it weakens

The rupee gained 16 paise to 82.25 against the US dollar in early trade on Wednesday as weakness of the American currency in the overseas market and steady foreign fund inflows supported investors' sentiment. However, a surge in crude oil prices capped sharp gains for the local unit, forex traders said. At the interbank foreign exchange, the domestic unit opened at 82.29, then touched a high of 82.25 against the American currency, registering a rise of 16 paise over its last close. On Tuesday, the rupee had settled at 82.41 against the dollar. Softness in the US dollar and sustained FII inflows supported the rupee, forex traders said adding that the strength in crude oil prices remains a concern for the rupee, as a sharp surge in prices could limit its gains. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.30 per cent to 101.42. Brent crude futures, the global oil benchmark, rose 0.20 per cent to USD 79.56 per barrel. Traders sa

Rupee's plunging volatility leaves foreign investors guessing RBI's moves

The RBI has added back $32 billion in reserves already this year as it absorbed foreign inflows to keep the currency steady, while its dollar forward book also climbed by around $10 billion

Rupee to climb after dollar's fall on weaker than expected US jobs data

Non-deliverable forwards indicate the rupee will open at around 82.60-82.62 to the U.S. dollar, compared with 82.74 in the previous session

Who can dethrone the US dollar?

There is little conflict between dollar domination and Indian success

Rupee hits six-week low against US dollar, loses 1% against greenback

Stronger-than-expected job data firmed up expectation of further interest rate hike by the US Federal Reserve

Decoded: What is internationalisation of rupee? How will it benefit India?

What does the internationalisation of the Indian rupee mean and how will it make India a competitor of the US dollar? Decoded here

China's forex reserves rise by $16.49 billion to $3.193 trillion in June

The yuan fell 2% against the dollar in June, while the dollar last month fell 1.2% against a basket of other major currencies

Rupee weakens by 21 paise as oil importers' demand for dollar grows

A stop loss is a type of order that investors or traders use to limit their potential losses in the market, said experts

Rupee depreciates 7 paise to 82.08 against US dollar amid strong demand

The rupee depreciated 7 paise to 82.08 against the US dollar in early trade on Wednesday, weighed down by strength of the American currency in the overseas market amid an increased demand for the dollar from importers. Sustained foreign fund inflows supported the local unit and contained the fall. At the interbank foreign exchange, the domestic unit opened at 82.05, then fell to 82.08, registering a decline of 7 paise over its last close. On Tuesday, the rupee had settled at 82.01 against the dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.08 per cent to 103.12. Brent crude futures, the global oil benchmark, fell 0.59 per cent to USD 75.80 per barrel. "Rupee has been ranged in the past few days with dips to the USD getting bought by RBI/oil companies. In-flows continue to be showing strong momentum as FPIs continue to be in a strong buying mode in respect of equities and debt," said Anil Kumar Bhansali, Head of Treasury a

Dollar steady before US Fed minutes, yen hovers below intervention zone

The dollar index - which measures the currency against a basket of six major peers, including the euro and yen - was little changed at 103.02, after tracking between 103.75 and 102.75 since early June

Rupee hits near 2-month high on dollar inflows, RBI may have stepped in

The focus this week is on the slew of important US data releases. The ISM US manufacturing data is due later in the day, followed by their services print on Wednesday

Yen tentative, dollar soft as traders weigh US Fed rate hike path

The yen weakened 0.03% to 144.38 per dollar in early Asian hours to kick start the second half of the year having dropped 9% against the dollar in the first six months of the year

Importers must hedge near-term exposures on dollar rally risk, say analysts

The greenback is projected to strengthen against most Asian currencies in the July-September quarter, with a rate hike by the Fed at its July meeting now a near certainty

Indian rupee may struggle on more Fed rate hike bets, US yields surge

Non-deliverable forwards indicate rupee will open at around 82.08 to the US dollar compared with 82.0550 in the previous session

Nasdaq ends up, dollar strengthens as Powell hints at more rate hikes

The S&P 500 ended essentially unchanged, while the blue-chip Dow Jones Industrial Average closed negative territory, weighed down by healthcare stocks

Rupee gains 5 paise to 81.97 against US dollar on foreign fund inflows

The rupee strengthened by 5 paise to 81.97 against the US dollar in early trade on Wednesday on foreign fund inflows and gains in domestic equities. The currency opened higher by 2 paise at 82 at the interbank foreign exchange market and moved in a tight range of 82.01 to 81.97 in early trade. The rupee was trading at 81.97 against the US dollar at 9.35 am, registering a gain of 5 paise over the previous close of 82.02. Foreign portfolio investments into equities and overnight losses in the US dollar in global markets boosted the rupee sentiment in early trade, analysts said. The dollar index, which gauges the greenback's strength against a basket of six currencies, was almost flat at 102.58. Global crude oil benchmark Brent crude was trading 0.69 per cent higher USD 72.76 per barrel. In the domestic equity market, the 30-share BSE Sensex advanced by 199.06 points or 0.31 per cent to 63,615.09 points while the broader Nifty gained 62.75 points to 18,880.15 points. Foreign Portfo