Page 8 - Indian Rupee

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

Rupee gains 3 paise to close at 82.44 against dollar on positive equities

The rupee consolidated in a narrow range and settled 3 paise higher at 82.44 (provisional) against the US dollar on Thursday, supported by positive domestic equities. At the interbank foreign exchange market, the local unit opened at 82.34 and touched an intra-day high of 82.26 and a low of 82.47 against the greenback. It finally settled at 82.44, registering a rise of 3 paise over its previous close of 82.47. "Rupee consolidated in a narrow range even after the RBI raised rates by another 35 bps. It lowered its FY23 GDP forecast to 6.8 per cent from 7 per cent," 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 82.80," he added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.29 per cent to 105.40. Global oil benchmark Brent crude futures rose 0.63 per cent to USD 77.66 per barrel. On the domestic .

Top Headlines: Vi's fundraising on hold, trade settlement in rupee & more

Business Standard brings you the top headlines at this hour

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

Trade settlement in rupee: Govt, RBI devise country-specific plan

To start with, a small number of banks will be allowed to manage cross-border transactions in domestic currency with a particular country

Rupee falls 76 paise to close at 82.61 against dollar amid selling pressure

The rupee declined by 76 paise to close at 82.61 against the US dollar on Tuesday due to heavy selling pressure in domestic equities and rising crude prices in the overseas markets. In addition, investors remained concerned over continued foreign capital outflows ahead of the RBI's policy announcement on Wednesday, forex dealers said. At the interbank foreign exchange market, the local unit opened weak at 81.94, then slipped further to end at 82.61, registering a fall of 76 paise. During the day, the local unit witnessed an intraday high of 81.94 and a low of 82.63. In the previous session on Monday, the rupee had settled down by 52 paise at 81.85 against the dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.05 per cent to 105.24. Global oil benchmark Brent crude futures rose 0.64 per cent to USD 83.22 per barrel. On the domestic equity market front, the 30-share BSE Sensex fell 208.24 points or 0.33 per cent to end at .

India's benchmark bond yield seen at 7.5%, rupee at 84 by March: UBS

India's benchmark 10-year bond yields are expected to rise on the back of higher government borrowings, while the rupee could see steep depreciation by end of this financial year

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 ..

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

Rupee gains 8 paise to 81.25 against US dollar ahead of MPC review

The rupee appreciated 8 paise to 81.25 against the US dollar in early trade on Monday supported by a weak dollar in the overseas market. Forex traders said weak domestic equities weighed on the local unit and restricted the appreciation bias. At the interbank foreign exchange, the domestic unit opened at 81.26 against the dollar, then gained further ground to touch 81.25, registering a rise of 8 paise over its previous close. On Friday, the rupee had settled down by 7 paise at 81.33 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.37 per cent to 104.15. Brent crude futures, the global oil benchmark, advanced 1.05 per cent to USD 86.47 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 139.99 points or 0.22 per cent lower at 62,728.51. The broader NSE Nifty fell 22.60 points or 0.12 per cent to 18,673.50. Foreign Institutional Investors (FIIs) were net buyers in the capit

Rupee premiums close to bottoming, RBI key moving part, says report

The 1-year rupee overnight index swaps declined about 30 bps in November, helped by a better inflation outlook domestically

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

Rupee gains 18 paise to 81.08 against weak US dollar in overseas trade

The rupee appreciated 18 paise to 81.08 against the US dollar in early trade on Friday supported by a weak dollar in the overseas market. Forex traders said weak domestic equities and foreign fund outflows weighed on the local unit and restricted the appreciation bias. At the interbank foreign exchange, the domestic unit opened at 81.11 against the dollar, then gained further ground to touch 81.08, registering a rise of 18 paise over its previous close. On Thursday, the rupee appreciated by 4 paise to close at 81.26 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.01 per cent to 104.71. Brent crude futures, the global oil benchmark, advanced 0.22 per cent to USD 87.07 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 259.39 points or 0.41 per cent lower at 63,024.80. The broader NSE Nifty fell 71.60 points or 0.38 per cent to 18,740.90. Foreign Institutional Investors

Rupee gains as Fed's Jerome Powell hints at slower US rate hikes

So far in 2022, the Fed has hiked rates by a total of 375 bps, leading to a stronger dollar and diminishing the appeal of emerging market assets

TMS Ep315: E-rupee, Vande Bharat, Bank stocks, Alternative investment funds

What does e-rupee mean for you? Who's the brain behind Vande Bharat? Is it time to shift to private bank stocks? What are Alternative Investment Funds? All answers here

What does e-rupee mean for you?

India's digital rupee is making its retail debut today. Soon, people will use this digital currency for daily transactions. Find out how it's going to be different from digital wallets and UPI

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

Rupee seen higher at 81.20 after Fed Chair Powell's dovish tilt; RBI eyed

The Fed Chair did acknowledge, like other policymakers, that the central bank had a long way to go to achieve price stability

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

Rupee gains 34 paise to close at 81.38 against dollar amid weak greenback

The rupee appreciated 34 paise to close at 81.38 (provisional) against the US dollar on Wednesday as a weak greenback in the overseas market and a rally in domestic equities boosted investor sentiment. At the interbank foreign exchange market, the local unit opened at 81.63 and touched an intra-day high of 81.38 and a low of 81.64 against the greenback. The local unit finally settled at 81.38, registering a rise of 34 paise over its previous close. On Tuesday, the rupee declined 4 paise to close at 81.72 against the US dollar. The Indian rupee registered the first monthly gains in the past eleven-months following a rebound in the risk assets, lower crude oil prices and foreign fund inflows, said Dilip Parmar, Research Analyst, HDFC Securities. "It is poised to end the month 1.6 per cent higher, its biggest gain since August 2021," Parmar said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.29 per cent to ...