Page 48 - Us Dollar

Rupee fell 4 paise to 82.24 against dollar amid losses in domestic equities

The rupee slipped by 4 paise to 82.24 against the US dollar in early trade on Friday amid a stronger dollar in the overseas markets and losses in domestic equities. At the interbank foreign exchange market, the local unit opened lower by 12 paise at 82.32 as the US dollar rebounded against global currencies in early Asian trade. The rupee pared some of the losses to trade at 82.24, registering a loss of 4 paise over the previous close of 82.20 on Thursday. Traders said a stronger US dollar and losses in domestic equities weighed on the local unit. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent higher at 102.63. Crude oil prices declined in early Asian trade on reports that the US is likely to defer restocking of its strategic reserves despite current low prices. Global oil benchmark Brent crude slipped 0.16 per cent to USD 75.79 per barrel. Benchmark BSE Sensex declined by 63.71 points or 0.11 per

Dollar falls for sixth day, BoE, SNB, Norges Bank raise interest rates

Futures imply around a 50% chance of one more quarter-point hike, in contrast to Europe where markets see around 50 bps of further tightening

Rupee gains sharply vs dollar as Federal Reserve softens view on rate hike

So far in 2023, the rupee has gained 0.5 per cent against the US dollar

RBI snaps 2 months of dollar buys, net-sells $384 mn in market in Jan

Forward book surges $10.76 bn as central bank picks up dollars

6 central banks to boost flow of US dollar through global financial system

Central banks have moved globally to keep credit flowing after an unsettled period in the US banking sector and the Credit Suisse merger

Rupee appreciates 11 paise to 82.48 against US dollar in early trade

The rupee continued its upward trend and rose 11 paise to 82.48 against the US dollar in early trade on Monday, tracking fall in crude oil prices and firm Asian currencies. Traders said, strong dollar and negative sentiments across the global as well as domestic equity markets capped the gain in the rupee. At the interbank foreign exchange, the domestic unit opened stronger at 82.48 against the US dollar and then slipped to 82.52. It gained further to 82.48, registering a gain of 11 paise. The Indian currency traded between 82.46 and 82.55. On Friday, the rupee settled at 82.59 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.16 per cent higher at 103.87. Global oil benchmark Brent crude futures fell 0.52 per cent to USD 72.59 per barrel. The 30-share BSE Sensex was trading 461.61 points or 0.80 per cent lower at 57,528.29 points while the broader NSE Nifty was down 158.05 points or 0.92 per cent

India's foreign exchange reserves fall $2.4 billion to $560 billion

The domestic currency has experienced turbulence since February due to apprehensions of more rate hikes by the US Federal Reserve

Rupee appreciates 25 paise to 82.51 against US dollar in early trade

The rupee reversed its four-day losing streak and rose 25 paise to 82.51 against the US dollar in early trade on Friday amid positive trends in the domestic as well as global equity markets. At the interbank foreign exchange, the domestic unit opened stronger at 82.50 against the US dollar and fell to 82.54. Later, it rose marginally to 82.51, registering a gain of 25 paise. On Thursday, the rupee settled at 82.76 against the US dollar, falling for the fourth day in a row. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.28 per cent lower at 104.12. Global oil benchmark Brent crude futures rose 1.10 per cent to USD 75.12 per barrel. The 30-share BSE Sensex was trading 410.04 points or 0.71 per cent higher at 58,044.88 points while the broader NSE Nifty was up 117.20 points or 0.69 per cent at 17,102.80 points. Lifelines for troubled US and European banks bolstered investor sentiments amid concerns over the health of the

Rupee falls 10 paise to 82.75 against US dollar on foreign outflows

The rupee depreciated by 10 paise to 82.75 against the US dollar in early trade on Thursday amid negative trends in the domestic as well as global equity markets and continued outflow of foreign funds. At the interbank foreign exchange, the domestic unit opened weaker at 82.77 against the US dollar and traded in the range of 82.80 and 82.71. Later, the domestic unit was trading at 82.75 against the greenback, registering a fall of 10 paise. On Wednesday, the rupee settled at 82.65 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.10 per cent lower at 104.54. Global oil benchmark Brent crude futures rose 0.61 per cent to USD 74.14 per barrel. The 30-share BSE Sensex was trading 116.67 points or 0.20 per cent lower at 57,439.23 points while the broader NSE Nifty was down 34 points or 0.2 per cent at 16,938.15 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on ..

Panic over bank crisis sparks flight to safe haven currencies including yen

In the latest blow to investors' confidence in the financial sector, Credit Suisse's shares on Wednesday plunged as much as 30%, after its largest shareholder said it could not provide further support

Rupee rises 4 paise to 82.33 against US dollar on positive domestic equity

The rupee appreciated by 4 paise to 82.33 against the US dollar in early trade on Wednesday, tracking positive sentiments in the domestic equity market and relatively weaker dollar against major currencies. At the interbank foreign exchange, the domestic unit opened stronger at 82.32 against the US dollar and then gained ground to 82.30. Later, it slipped to 82.33 against the greenback, registering a rise of 4 paise against its previous close. On Tuesday, the rupee settled at 82.37 against the US dollar. Anand James, Chief Market Strategist at Geojit Financial Services, said there could be slippage to 82 level. "It would require consistent trades above 82.36 to rekindle positivity again." Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.10 per cent lower at 103.49. Global oil benchmark Brent crude futures rose 1.21 per cent to USD 78.39 per barrel. The 30-share BSE Sensex was trading 403.21 points or 0.70 per cent higher

Rupee weakens as Silicon Valley Bank collapse sparks global risk aversion

A rebound in the dollar index, caused by the global flight to safety of the US currency, took a toll on Asian currencies, including the rupee

Rupee falls 26 paise to 82.49 against US dollar

The rupee declined by 26 paise to 82.49 (provisional) against the US dollar on Tuesday amid stronger dollar, negative sentiment in the domestic equity market and unabated foreign fund outflows. At the interbank foreign exchange, the domestic unit opened lower at 82.27 against the dollar and traded between the range of 82.24 and 82.50 during intra-day. It finally settled at 82.49 (provisional) against the American currency. This is the second consecutive day of decline in the Indian currency. On Monday, the rupee settled at 82.23 against the US dollar. Jateen Trivedi, VP Research Analyst at LKP Securities, attributed the fall in rupee to the spillover fears after the collapse of the Silicon Valley Bank in the US. "The Rupee fall continued as the Silicon Valley Bank in the US has spread concerns over the spillover fears after its collapse and in line with Asian peers. Rupee this time, fell below 82.48 levels which were last seen on 3rd March 23. "The ripple effect can keep the forex

Rupee depreciates 12 paise to 82.35 against US dollar in early trade

The rupee depreciated by 12 paise to 82.35 against the US dollar in early trade on Tuesday, amid stronger dollar and foreign fund outflow from the domestic equity market. At the interbank foreign exchange, the domestic unit opened lower at 82.27 against the dollar and rose to 82.24 before slipping to 82.35. On Monday, the rupee settled at 82.23 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies rose 0.26 per cent to 103.86. Global oil benchmark Brent crude futures fell 1.08 per cent to USD 79.90 per barrel. On the domestic equity market front, the 30-share BSE Sensex was trading 36.50 points or 0.06 per cent higher at 58,274.35 points while the broader NSE Nifty was up 38.85 points or 0.23 per cent to 17,193.15 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday as they offloaded shares worth Rs 1,546.86 crore, according to exchange data. The collapse of two banks in the U

Rupee appreciates 25 paise to 81.81 against US dollar in early trade

The rupee appreciated by 25 paise to 81.81 against the US dollar in early trade on Monday, tracking positive sentiments in the domestic equity market and subdued dollar against major currencies. At the interbank foreign exchange, the domestic unit opened at 81.78 against the dollar and slipped to 82.06. Later, it gained ground to reach 81.81 registering an increase of 25 paise over its previous close. On Friday, the rupee settled at 82.06 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies fell 0.77 per cent to 103.78. Brent crude futures, the global oil benchmark, rose 0.30 per cent to USD 83.03 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 262.24 points or 0.44 per cent higher at 59,397.37 points. The broader NSE Nifty rose 79.50 points or 0.46 per cent to 17,492.40 points. Investors are closely watching the developments following the collapse of the Silicon Valley Bank in the US. On

Foreign exchange reserves snap 4-week falling streak, grow by $1.5 bn

RBI's foreign currency assets up $1.2 billion to $497.1 bn last week

Rupee depreciates 8 paise to 82.14 against US dollar in early trade

The rupee depreciated by 8 paise to 82.14 against the US dollar in early trade on Friday, weighed down foreign fund outflows and losses in domestic equities. At the interbank foreign exchange, the domestic unit opened weak at 82.12 against the dollar fell further to 82.14, registering a decline of 8 paise over its last close. On Thursday, the rupee settled at 82.06 against the US dollar. "The 81.70-80 zone seems protected by the importer's dollar demand and suspected RBI intervention, which brought the INR back to 82.00 levels," CR Forex Advisors MD Amit Pabari said. Moreover, the March seasonality due to the financial year end and prospects of further FDI flows could help the rupee limit losses, despite weaker Asian peers over the past month, Pabari added. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.11 per cent to 105.18. "The DXY weakened from 105.70 to 105.20 as traders booked profits on the back of increased unemployment

RBI possibly buying dollars in spot, paying forwards via PSBs: Traders

The Reserve Bank of India (RBI) was possibly buying dollars in spot and paying in forwards via public sector banks on Thursday to mop up foreign currency inflows, three traders told Reuters

Rupee appreciates 13 paise to 81.82 against US dollar in early trade

The rupee gained 13 paise to 81.82 against the US dollar in early trade on Thursday, boosted by foreign fund inflows. At the interbank foreign exchange, the domestic unit opened at 81.93 against the dollar, then climbed to 81.82, registering a rise of 13 paise over its previous close. On Wednesday, the rupee closed at 81.95 against the US currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.02 per cent to 105.63. Overall, higher US bond yields and risk-off-tilted equity sentiment are making a base case for the stronger USD, CR Forex Advisors MD Amit Pabari said, adding that FDI and FPIs have acted as life support for the rupee. "In March, they (FPIs) are net investors with more than Rs 10,000 crore in equities... we could see rupee trading in the range of 81.50 to 82.50 over the short-term," Pabari said. Foreign Institutional Investors (FIIs) were net buyers in the capital market on Wednesday as they purchased sha

Rupee slides as Federal Reserve's Powell hints at higher US terminal rates

In a bid to bring down high inflation, the Fed has, since March 2022, hiked interest rates by 450 basis points