Page 54 - Us Dollar

Rupee falls 35 paise against US dollar amid heavy selling in equities

The rupee declined 35 paise to 82.63 against the US dollar in early trade on Monday as heavy selling pressure in domestic equities and a strong greenback in the overseas market weighed on investor sentiments. Besides, foreign fund outflows and rising crude oil prices in the international market impacted the domestic unit, forex traders said. At the interbank foreign exchange, the domestic unit opened weak at 82.54 against the dollar, then lost further ground to quote at 82.63, registering a fall of 35 paise over its previous close. On Friday, the rupee settled 10 paise higher at 82.28 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, surged 0.35 per cent to 105.16. Brent crude futures, the global oil benchmark, advanced 0.66 per cent to USD 76.60 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 486.34 points or 0.78 per cent lower at 61,695.33. The broader NSE Nifty fell 138.

Forex reserves at a three-month high; $11 billion added in a week

Reserves rise for 4th straight week on revaluation, likely RBI dollar purchases

Rupee gains 10 paise to close at 82.28 against US dollar as it weakens

The rupee appreciated by 10 paise to close at 82.28 (provisional) against the US dollar on Friday, tracking the weakening of the American currency in the overseas market. Forex traders said muted domestic equities and foreign fund outflows weighed on investor sentiments and restricted the gains. At the interbank foreign exchange market, the local unit opened at 82.30 and touched an intra-day high of 82.08 and a low of 82.33 against the greenback. It finally settled at 82.28, registering a rise of 10 paise over its previous close of 82.38. Forex traders said investors awaited the outcome of a slew of central bank meetings next week for additional clues on the pace of rate hikes. "Focus will now be shifting to the FOMC policy statement. The central bank could raise rates by 50 bps and maintain a less hawkish stance," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services. "We expect the USD-INR (Spot) to trade sideways and quote in the range of 82.20 and ..

Rupee appreciates 19 paise to 82.19 against US dollar in early trade

The rupee appreciated 19 paise to 82.19 against the US dollar in early trade on Friday on broad dollar weakness and a firm trend in domestic equities. Forex traders said sustained foreign fund outflows weighed on investor sentiments and restricted the appreciation bias. At the interbank foreign exchange, the domestic unit opened at 82.30 against the dollar, then gained further ground to touch 82.19, registering a rise of 19 paise over its previous close. On Thursday, the rupee settled 9 paise higher at 82.38 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.23 per cent to 104.53. "With China relaxing its COVID restrictions such as mass testing, lockdowns and quarantine requirements, it is widely feared that cases and deaths would shoot up, causing further widespread economic disruptions. This is something we need to keep a close eye on," IFA Global Research Academy said in a research note. Brent cr

US dollar struggles as recession worries simmer, bets on slower rate hike

The yuan hovered near an almost three-month high after China revealed a loosening of stifling COVID restrictions

US dollar edges up as darkening growth, recession outlook hurts sentiment

The greenback rose 0.16% overnight against the Japanese yen, but erased some of those gains in early Asia trade and fell 0.04% to 136.97 yen

Rupee at over 1-month low on renewed Federal Reserve rate hike fears

Indian currency underperforms EM peers; analysts cite shrinking forward premia, widening CAD

Dollar holds firm on account of upbeat US data, RBA rate rise lifts Aussie

The U.S. dollar index, which measures the currency against six major peers, was at 105.24, steady after Monday's 0.7% rally, its biggest since Nov. 21

Investors look to emerging markets as US dollar tumbles: Analysis

As the US dollar tumbles from multi-decade highs, some investors are betting emerging market currencies will be big winners from a sustained reversal in the greenback

Rupee falls 24 paise to 82.09 against dollar in line with domestic equities

The rupee declined 24 paise to 82.09 against the US dollar in early trade on Tuesday as heavy selling pressure in domestic equities and rising crude prices overseas weighed on investor sentiment. Besides, foreign fund outflows put pressure on the domestic unit, forex dealers said. At the interbank foreign exchange, the domestic unit opened weak at 81.94 against the dollar, then slipped further to 82.09, registering a fall of 24 paise over its previous close. In the previous session on Monday, the rupee had settled down by 52 paise at 81.85 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.07 per cent to 105.22. Brent crude futures, the global oil benchmark, advanced 0.94 per cent to USD 83.46 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 353.44 points or 0.56 per cent lower at 62,481.16. The broader NSE Nifty fell 99.30 points or 0.53 per cent to 18,601.75. Foreign ..

Gold regains some ground as US dollar dips; spot silver climbs 1.2%

Spot gold was up 0.4 per cent at $1,775.69 per ounce

Rupee skids 48 paise as corporates, oil firms rush to buy dollars

Domestic unit has shed over 9% versus the greenback so far in 2022; latest weakness came despite softer dollar index and strength in Asian currencies, led by a firm Chinese yuan

Forex reserves rise for third week in a row; up $2.9 bn to $550.14 bn

Fall in US dollar index seen providing revaluation boost to RBI reserves

Rupee gains as dollar slides on US data backing slower rate hikes

The Indian rupee rose on Friday, but gains were capped due to dollar demand amid a slump in the greenback

US Dollar wobbles to 16-week lows as inflation ebbs, eye on jobs data

The dollar index/, which measures the currency against six major peers including the yen and euro, rose 0.191% at 104.840

Rupee gains 32 paise to 80.98 against US dollar after Fed chair's remark

The rupee appreciated 32 paise to 80.98 against the US dollar in early trade on Thursday on a broad dollar weakness after Federal Reserve Chairman Jerome Powell said the pace of interest rate hikes may slow. At the interbank foreign exchange, the domestic unit opened at 81.08 against the dollar, then gained further ground to touch 80.98, registering a rise of 32 paise over its previous close. On Wednesday, the rupee rose by 42 paise to close at 81.30 against the US dollar, on month-end exporter dollar selling and MSCI rebalancing related inflows. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.27 per cent to 105.66. Fed Chair Powell in his speech on Wednesday gave a clear indication that the Fed would slow down its pace of rate hikes and increase rates by 50 basis points in the December policy. Overall, the speech can be said to be leaning towards moderation in hawkishness going forward and this has brought a great sens

Dollar sinks to 3-mth low vs yen as Powell says Fed considering going slow

The dollar-yen pair is extremely sensitive to changes in long-term US yields

Rupee gains sharply against US dollar as MSCI rejig spurs flows

The rupee closed at 81.43 per US dollar on Wednesday as against 81.72 per dollar on Tuesday

Cross-border rupee trade: FinMin, bank heads to meet on December 5

The Finance Ministry has called a meeting of CEOs of banks, including top six private sector lenders, on December 5 to discuss ways to promote cross-border trade in the rupee instead of the US dollar. Besides, sources said the meeting to be attended by other stakeholders, including senior officials of external affairs and commerce ministries, will review the progress made on this front so far. Financial Services Secretary Vivek Joshi will be chairing the meeting and is also likely to see attendance from representatives of the Reserve Bank of India and Indian Banks' Association (IBA), sources said. Following detailed guidelines from the Reserve Bank of India (RBI) on cross-border trade transactions in domestic currency in July, about nine special vostro accounts have been opened with two Indian banks to facilitate overseas trade in the rupee. Sberbank and VTB Bank -- the largest and second-largest banks of Russia, respectively -- are the first foreign lenders to receive the approval

US Dollar holds firm as China's Covid-related worries, Fed remarks weigh

The greenback had extended gains after St. Louis Fed President James Bullard said overnight that the Fed needs to raise interest rates quite a bit further