Page 56 - Us Dollar

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

Indian govt allows Lankans to hold $10,000 worth of rupee in cash

SL banks must open nostro accounts with Indian banks

Rupee slips 6 paise to 81.77 against US dollar in track with equities

The rupee depreciated 6 paise to 81.77 against the US dollar in early trade on Monday, tracking a lacklustre trend in domestic equity markets and a firm American currency overseas. However, lower crude prices in the international market and fresh foreign fund inflows restricted the rupee's fall, forex dealers said. At the interbank foreign exchange, the domestic unit opened weak at 81.81 against the dollar, then gained some ground to quote 81.77, registering a decline of 6 paise over its previous close. In the previous session on Friday, the rupee weakened by just one paisa to end at 81.71 against the dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.41 per cent to 106.39. Brent crude futures, the global oil benchmark, declined 2.58 per cent to USD 81.47 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 27.97 points or 0.04 per cent lower at 62,265.67. Similarly, the broader NSE Nifty fell 12.45

Dollar rises broadly, yuan slumps as China's Covid unrest rattles sentiment

The dollar gained broadly as protests against Covid restrictions in China stoked uncertainty and dented sentiment, sending the yuan sliding

Gold prices edge lower today as firmer dollar makes metal expensive

Gold prices slipped, as a stronger US dollar made the greenback-priced metal more expensive for buyers holding other currencies

Forex reserves rise for second week in a row; up $2.5 bn to $547.25 bn

The latest data marks the first time since May that the RBI's reserves have risen for two consecutive weeks

Rupee close at 81.62 against US dollar as risk sentiments improve

The rupee settled for the day 8 paise higher at 81.62 (provisional) against the American currency on Friday on broad dollar weakness and improved risk sentiments. Forex traders said positive domestic equities and foreign fund inflows supported the local unit. At the interbank foreign exchange market, the local unit opened at 81.69 and touched an intra-day high of 81.44 and a low of 81.71 against the greenback. The local unit finally settled at 81.62, registering a rise of 8 paise over its previous close. On Thursday, the rupee appreciated by 23 paise to close at 81.70 against the US dollar. The Indian rupee appreciated on positive domestic equities and a weak US Dollar. Foreign fund inflows also supported Rupee, said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. The US dollar declined on extended losses as the Federal Open Market Committee (FOMC) minutes showed that a majority of Federal Reserve policymakers agree that it would likely soon be appropriate to slow

Dollar set for weekly loss amid expectations of US Fed slow hikes

The dollar was struggling to make headway after thin trading on Thursday due to the U.S. Thanksgiving holiday

Rupee advances 16 paise to 81.54 against US dollar in early trade

The rupee appreciated 16 paise to 81.54 against the US dollar in early trade on Friday on broad dollar weakness and in line with its Asian peers. At the interbank foreign exchange, the domestic unit opened at 81.69 against the dollar, then gained ground to touch 81.54, registering a rise of 16 paise over its previous close. On Thursday, the rupee appreciated by 23 paise to close at 81.70 against the US dollar. Forex traders said the American currency has retreated from its elevated levels post Federal Open Market Committee (FOMC) minutes. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.23 per cent to 105.82. Moreover, steady crude oil price is also aiding investor sentiments. "Brent is steady around USD 85 per barrel after Thursday's drop which came on reports that the price caps proposed for Russian crude were too high and above the current levels," IFA Global Research Academy said in a note. Brent crude futures, the global oi

Dollar headed for weekly loss as investors brace for slower Fed hikes

The dollar stood close to a three-month low and was on track for a weekly loss on Friday, as the prospect of the Federal Reserve slowing monetary policy tightening

Nifty, Sensex close at fresh lifetime highs after sharp late surge

US Fed minutes indicate slower pace of rate hikes, investors cheer

Rupee gains 26 paise to 81.67 against dollar as US currency retreats

The rupee appreciated 26 paise to 81.67 against the US dollar in early trade on Thursday as the American currency retreated from its elevated levels. At the interbank foreign exchange, the domestic unit opened at 81.72 against the dollar, then gained ground to touch 81.67, registering a rise of 26 paise over its previous close. The rupee has strengthened in offshore trading on broad-based dollar weakness. It is likely to trade in a range of 81.55-81.85 with sideways price action, IFA Global Research Academy said in a research note. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.41 per cent to 105.63, post the weak US data and dovish Fed minutes. "Minutes of the latest Fed meeting indicated that most Fed members were in support of slowing the pace of rate hikes but 'various' Fed members saw rates peaking at higher levels," IFA Global Research Academy said. Brent crude futures, the global oil benchmark, declined 0.21 per cent to US

Dollar slips as risk sentiment improves among investors after Fed minutes

The US dollar was broadly weaker on Thursday as investors, encouraged prospect of a slower pace of interest rate hikes from the federal reserve, placed bets on riskier assets