Page 70 - Us Dollar

Rupee falls by 12 paise to 79.76 against US dollar in opening trade

The rupee depreciated 12 paise to 79.76 against the US dollar in opening trade on Friday, tracking the strength of the American currency in the overseas market. At the interbank foreign exchange, the rupee opened at 79.75 against the US dollar, then fell to 79.76, registering a decline of 12 paise over the last close. On Thursday, the rupee depreciated 19 paise to close at 79.64 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.13 per cent to 107.62. Meanwhile, global oil benchmark Brent crude futures fell 0.37 per cent to USD 96.23 per barrel. The rupee opened weaker on Friday after the dollar index reached a 1-month high following comments from US Federal Reserve officials over the quantum of rate hikes, said Sriram Iyer, Senior Research Analyst at Reliance Securities. Supports for the USD/INR spot pair are at 79.60 and 79.50 and resistances are at 79.80 and 79.90. A break above the resistances will push th

RBI steps in as rupee slides on corporate outflows; bond yields jump

Bond yields jump as traders lock in profits after speculative rally on Wednesday

RBI turns net seller of US currency in June; sells $3.719 bn: Data

Reserve Bank of India turned net seller of the US currency in June after it sold USD 3.719 billion on a net basis, the central bank data showed. In the reporting month, the central bank purchased USD 18.96 billion from the spot market and sold USD 22.679 billion, according to the RBI monthly bulletin for August 2022 released on Thursday. In June 2021, RBI was net buyer of the greenback after it purchased USD 18.633 billion on a net basis from the spot market. In May 2022, the central bank net bought USD 2.001 billion. It had purchased USD 10.143 billion and sold USD 8.142 billion during the month. During the fiscal 2022, the central bank had net purchased USD 17.312 billion. It had bought USD 113.991 billion and sold USD 96.679 billion in the spot market in FY22. In the forward dollar market, the outstanding net purchase at the end of June stood at USD 30.856 billion as compared to USD 49.191 billion in May, the data showed.

We expect rupee to trade in 79.25-79.75 per dollar range: BoB report

The Indian rupee is expected to trade in the 79.25-79.75 per US dollar range in the coming days due to easing crude oil prices and continued inflows by foreign investors, the Bank of Baroda said

Rupee falls 19 paise to close at 79.64 as Fed minutes prop dollar

The rupee depreciated 19 paise to close at 79.64 (provisional) against the US dollar on Thursday, following the strength of the American currency in the overseas market. At the interbank foreign exchange market, the local currency opened at 79.60 and moved in a range of 79.60 to 79.71 during the day. It finally ended at 79.64 against the greenback, down 19 paise over its previous close. On Wednesday, the rupee gained 29 paise to settle at 79.45 against the dollar. Forex traders said the US dollar index witnessed an upturn after the Federal Open Market Committee (FOMC) meeting minutes showed that though things are slowing in the US, the Fed is not done with the rate hikes. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.10 per cent to 106.68. The US central bank policymakers committed to raising rates as high as necessary to tame inflation, said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services. Somaiya .

Govt bonds, rupee strengthen as crude prices plunge on growth concerns

A decline in domestic headline retail inflation to a five-month low in July also bolstered the appetite for bonds

'High ATF prices, rupee depreciation may pose threat to carriers' recovery'

Elevated Aviation Turbine Fuel (ATF) prices and Rupee depreciation are likely to pose a serious threat to the recovery process for domestic carriers, credit ratings agency ICRA said on Wednesday. In India, ATF accounts for around 45 per cent of the operational cost of an airline. Besides, as much as 35-50 per cent of the airlines' operating expenses are US dollar driven, as per ICRA. An area of concern remains the ATF prices, which surged by around 77 per cent Y-o-Y in August, given the elevated crude oil prices due to geo-political issues arising from the Russian invasion of Ukraine, the ratings agency said. On an aggregate basis, it said a return to normalcy will lead to recovery in passenger load factors, which, in turn, will aid revenues; however, these two factors will continue to weigh on the domestic airlines'' earnings in FY23. This apart, the expected launch of Jet Airways and the entry of Akasa Air, are likely to intensify the competition for the domestic carriers. "ICR

Rupee seen stronger tracking oil price fall; US yields may cap gains

The rupee, which is set to resume trade after a four-day weekend, is seen opening at 79.25-79.30 per dollar, up from 79.6550 on Friday

Gold extends losses on dollar strength, traders watchful of Fed policy

Gold extended losses after posting its biggest drop in a month in the previous session, as a stronger dollar dented bullion's appeal

Gold extends fall by 1% on stronger dollar, US Fed rate-hike worries

Spot gold was down 0.1% at $1,777.46 per ounce, as of 0054 GMT, after hitting its lowest since Aug. 8 at $1,772.30 on Monday

Dollar firm vs Aussie, euro, Chinese yuan on heightened recession worries

The safe-haven U.S. dollar hovered near a one-week high on Tuesday while the Aussie, euro and Chinese yuan remained under pressure as weak global economic data reignited recession fears.

Dollar jumps on safety flows after China data, yuan slips on rate cut

The U.S. dollar index against six peers rose 0.6% to 106.3, consolidating near the middle of its range this month. The euro eased 0.6% against the dollar to $1.0191, after touching a one-week low.

Driven by pouring tourists, Thailand's baht achieves year-end targets

The currency jumped 2.3 per cent to about 35.45 per dollar this month, leading gains in Asia by a wide margin

Gold dips as US dollar firms, Fed rate-hike to tame inflation fears linger

Spot gold was down 0.4% at $1,794.78 per ounce, as of 0352 GMT, after rising about 1.6% last week. US gold futures fell 0.3% to $1,810.

Japanese yen fell the most against a resurgent US dollar on Friday

The Japanese yen fell the most against a resurgent U.S. dollar on Friday, as a two-day rally in equities conceded to market expectations that the Fed will have to do a lot more to contain inflation.

Rupee weakens on heavy dollar demand from importers, oil marketing firms

Lower US CPI a relief, but rupee still seen testing 80/$1 on elevated CAD

Foreign investors pour over Rs 12k cr in Indian equities in last 10 days

The increase in the amount of money coming into the market has helped benchmark indices to rise sharply and rupee to appreciate against the US.

'Worst likely over' for emerging Asian currencies as US Fed hike bets ease

Currencies across the region jumped Thursday, following their developing-nation peers in the Americas and Europe, after the US data published Wednesday led to a slump in the dollar

Rupee opens higher at 79.25 vs dollar as US inflation concerns ease

The Indian rupee opened higher against the dollar on Thursday as a decline in the US inflation rate boosted Asian currencies, lifting risk appetite

Rupee gains sharply as slowing US inflation softens Fed hike fears

Data released late Wednesday showed that US CPI inflation increased by a lesser-than-expected 8.5% in July as against a rise of 9.1% in June