Page 5 - Forex Market

Rupee hits all-time low; foreign exchange reserves below $600 billion

Double-digit BoP deficit seen in FY23, says Standard Chartered

Rupee weakens against US dollar in early trade, falls 38 paise to 76.73/$

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.13 per cent lower at 103.61

Forex reserves jump by $2.76 bn to $632.95 bn: RBI data

In the previous reporting week, the overall reserves had declined by USD 1.763 billion to USD 630.19 billion

Euro marches higher on news of Russia pullback near Ukraine; yen struggles

After the news of Russian troops near Ukraine returning back to their bases, Euro marches higher on Tuesday, almost wiping out Monday losses, while Yen still struggles.

Revolut buys money transfer company Arvog Forex for undisclosed sum

The acquisition will strengthen Revolut's foundation in India and accelerate its plans to offer its remittance service and forex services to Indian customers

Dollar declines for second day running as FX markets change course

After falling nearly 5% in January, world equities started February slightly firmer and currency markets have also changed course

China's regulators tighten scrutiny of forex dealers, say sources

The moves follow recent efforts at curtailing financial risks that include dampening commodity price rises, banning cryptocurrency transactions and restricting property speculation

Traders, economists see early taper warning signs to markets from RBI

The central bank is increasingly shifting its forex intervention to the forwards market to keep from injecting rupee liquidity, according to analysts.

Forex reserves rise by $1 billion to record high of $610 billion

Gold reserves climbed $76 million to $36.372 billion in the reporting week.

Forex reserves rise by $5 billion to lifetime high of $609 billion

Gold reserves rose by USD 365 million to USD 36.296 billion in the period under review, the data showed.

Rupee slips 2 paise against US dollar amid higher crude oil prices

Higher crude oil prices weighed on forex market sentiment

Asian central banks build dollar war chests, prep for US Fed policy

India has built up foreign exchange reserves worth more than $600 billion, as its central bank cushions economy against any sudden outflows.

Foreign exchange reserves cross $600 billion mark for first time

Forex reserves rose by $6.842 billion in the week ended June 4

Forex volatility falls to pre-pandemic lows as traders wait it out

The Deutsche Bank Currency Volatility Index hit its lowest since February last year.

Rupee gains for 3rd straight session; rises 15 paise to 72.45 against USD

On Thursday, the rupee had settled at 72.60 against the US dollar.

Rupee will be in suspended animation for some time

While a value of Rs 74-74.5/$ looks fair, one can never tell. The RBI may have to intervene if the rupee crosses the 75 mark and edges upwards

Analysts see rupee at 76.5; Four factors that may guide the trajectory

Rupee vs Dollar: Over the short-term, currency watchers expect the rupee to fall on the back of the RBI's plan to buy government bonds worth Rs 1 trillion from the secondary market

India's forex reserves increase by $689 million to $584.55 billion

The reserves increased for the second consecutive week

Shift from rates to managing the emerging Quadrilemma

A large autonomous driver of liquidity has been RBI intervention in the foreign exchange markets.

'See rupee trading in the range of 72.50 to 74.50 in the short term'

Receiving longer tenor, therefore, looks a good proposition considering the steepness of the curve. Near-end is likely to remain anchored on account of abundant Rupee liquidity in the banking system