Page 7 - Dollar

RBI net-sold $19.05 billion in forex market in July to protect rupee

RBI's forward purchases fell $9 bln in July as interventions spread across spot, forwards

Fed-induced market volatility could spur demand for gold: Experts

Use current correction to build a 10-15% allocation to yellow metal

Rupee slides as US CPI data stokes speculation of 100 bps Fed hike

Higher US interest rates typically leads to a stronger dollar and reduces the appeal of emerging market assets for global investors

US inflation sends markets on a wild ride; FPIs pull out Rs 1,400 crore

Sensex swings 1,232 points before settling 224 points lower; FPIs pullout Rs 1,400 cr

Yen jumps vs USD after BOJ rate check, hints on intervention, US PPI data

In a rate check, central bank officials call up dealers and ask for the price of buying or selling yen. However, actually intervening to support the currency would be a larger step.

Gold prices get reprieve as dollar slips, rate hike bets check advance

The dollar index eased 0.4% on Wednesday, making gold less expensive for overseas buyers

Rupee doesn't need defending, it can take care of itself: CEA Nageswaran

Nageswaran said while international agencies were showing India's trend growth at 6%, the country could easily grow at 7% per annum for the rest of the current decade and beyond

Rupee appreciates 8 paise against US dollar to 79.61 in early trade

The rupee appreciated 8 paise to 79.61 against the US dollar in opening trade on Friday, tracking the dollar's decline versus its major peers and foreign fund inflows. At the interbank foreign exchange, the domestic unit opened at 79.66 against the dollar, then touched 79.61 in initial deals, registering a gain of 8 paise over its previous close. On Thursday, The rupee rose by 26 paise to close at a week's high of 79.69 against the American currency. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.72 per cent to 108.92, as markets digested yet more hawkish Fed. The US Federal Reserve Chair, Jerome Powell on Thursday said he is "strongly committed" to fighting inflation. Meanwhile, the European Central Bank raised its key interest rates by an unprecedented 75 basis points. "ECB raised interest rates by 75 bps, taking the euro higher and the dollar index lower at 109.08 levels. Brent oil remains below USD 90 per barrel. Asian curre

Dollar stabilises after steep climb, euro up by 0.52% on ECB rate hike

The dollar took a breather from its surging rally on Friday as markets digested yet more hawkish Fed speak, while the euro hung on to parity by an outsized rate hike from the European Central Bank

Margins of aluminium companies likely to contract 400-500 bps in Q2: ICRA

Operating margins of the domestic primary aluminium companies are likely to shrink by 400-500 bps sequentially in the second quarter of 2022-23 due to factors like high input costs, rating agency Icra said on Thursday. "Owing to a twin onslaught of correction in aluminium prices and elevated input costs, the estimated operating profitability of ICRA's sample set of domestic players is likely to contract sequentially by almost 400-500 bps in Q2 FY2023 compared to Q1 FY2023," Icra said in a statement. International prices of aluminium have corrected by around 38 per cent from the record high of around 3900/tonne US dollar in March. While in the first quarter of FY23 the average LME aluminium spot prices remained at USD 2,870 per tonne, the same have corrected in the second quarter of FY'23 (YTD) to around USD 2,425 per tonne. Further, the cost of power for domestic aluminium producers continued to remain high, due to lesser supply of coal linkage to non-power sectors and high price o

Gold drops below $1,700 against stronger dollar, interest rate hike bets

Gold prices fell below the key $1,700 level on Thursday for the first time since July, as a rising dollar and expectations for aggressive interest rate hikes eroded its appeal

Russia mulls buying $70 billion in yuan, other 'friendly' currencies

The yuan briefly extended gains against the dollar after the news, rallying to a session high.

Rupee expected to trade in Rs 79.75-80.0/$ range in the near-term: Report

The Indian rupee is expected to trade in the range of 79.75-80.00 against the US dollar in the near term because the US Federal Reserve Chair has clearly signalled higher rates are likely to stay

Yen hits 24-year low, 140 level beckons as Fed hike bets buoy dollar

Markets have priced in about a 40% chance the ECB will increase rates by 75 basis points next week, even as risks of a painful recession rise along with gas prices

Dollar eases, but remains near 2-decade high as traders brace for hikes

The index is on track for a rise of around 2.6% in August, its third-straight monthly gain

Gold edges higher in early Asian hours as dollar slips from 20-year high

Gold prices inched up in early Asian hours as the dollar eased off a 20-year high, offsetting pressure from expectations of the U.S. Federal Reserve keeping interest rates higher to combat inflation

Dollar sags below 20-year peak as euro reinvigorated by ECB bets

By comparison, bets for a 75 bps increase by the Fed on Sept. 21, while higher at 70%, have receded from as much as 75% on Monday

Searing inflation in the UK pushes the Pound to a near 37-year low

The currency is trading around $1.18, less than 4 US cents away from its weakest level since 1985 against the dollar, underscoring the challenges facing the British economy

Forex reserves fall $6.7 bn to $564 bn in 7 days, at 2-yr low: RBI

The central bank has been selling dollars in the foreign exchange market aggressively to curb any sharp fall in the rupee, which is one of the main reasons for the reserves to fall

Stocks slide, dollar cuts losses as Fed's Powell warns of economic pain

"Reducing inflation is likely to require a sustained period of below-trend growth. Moreover, there will very likely be some softening of labor market conditions," Powell said.