Page 16 - Rupee Vs Dollar

Bond yields drop, rupee logs biggest single-day gain since July 27

The rise in bond prices came despite an increase in India's consumer price index inflation, which strengthens the case for the Reserve Bank of India to continue tightening monetary policy

Rupee depreciates by 10 paise to 79.67 against US dollar in early trade

The rupee depreciated by 10 paise to 79.67 against the US dollar in opening trade on Monday, even as the equity market opened on a positive note. At the interbank foreign exchange market, the rupee opened at 79.66 against the greenback, then fell to 79.67, registering a decline of 10 paise over its last close. In initial deals, the local unit also touched 79.64 against the dollar. On Friday, the rupee appreciated by 12 paise to close at 79.57 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.23 per cent to 108.75. The global oil benchmark Brent crude futures fell 1.49 per cent to USD 91.46 per barrel. "Markets now await India's August inflation data, which is likely to trend higher to 6.90 per cent from 6.71 per cent in July, as per a poll, adding pressure on RBI to hike interest rates more aggressively in coming months," said Sriram Iyer, Senior Research Analyst at Reliance Securities. The

Rupee rises 23 paise to close at 79.72 vs dollar amid easing crude prices

The rupee appreciated 23 paise to close at 79.72 (provisional) against the US dollar on Thursday amid easing crude oil prices and a firm trend in domestic equities. At the interbank forex market, the local unit opened at 79.72 against the greenback. It witnessed an intra-day high of 79.65 and a low of 79.83 during the session. It finally ended at 79.72, up 23 paise from its previous close of 79.72. The dollar index, which measures the greenback's strength against a basket of six currencies, fell 0.11 per cent to 109.72. Brent crude futures, the global oil benchmark, fell 0.60 per cent to USD 87.47 per barrel. On the domestic equity market front, the BSE Sensex ended 659.31 points or 1.12 per cent higher at 59,688.22, while the broader NSE Nifty gained 174.35 points or 0.99 per cent to 17,798.75. Foreign institutional investors (FIIs) remained net buyers in the capital markets as they purchased shares worth Rs 758.37 crore on Wednesday, according to provisional data.

Rupee appreciates 27 paise to 79.68 against US dollar in early trade

The rupee appreciated 27 paise to 79.68 against the US dollar in opening trade on Thursday, tracking its Asian peers, and easing crude oil prices. At the interbank foreign exchange, the domestic unit opened at 79.72 against the dollar, then touched 79.68 in initial deals, registering a gain of 27 paise over its previous close. On Wednesday, the rupee declined by 13 paise to close at 79.95 against the US currency. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.05 per cent to 109.78. Brent crude futures, the global oil benchmark, advanced 1.06 per cent to USD 88.93 per barrel. The rupee opened on a positive note as crude oil fell below USD 90 per barrel, the dollar index eased to 109.78 and Asian currencies gained slightly, said Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors. Forex traders said the currency could weaken further tracking the strength of the dollar ahead of US Federal Reserve Chair Jerome Powell's s

Rupee declines 13 paise to 79.95 against US dollar on rate hike worries

The rupee declined by 13 paise to close at 79.95 against the US currency on Wednesday as growing expectations of aggressive interest rate hikes by the US Fed drove the greenback to multi-year highs against major global currencies. Forex inflows into equities and weak crude oil prices, however, restricted losses in the local currency. At the interbank foreign exchange market, the domestic currency opened at 79.93 per dollar. It hovered in a range of 79.84 to 79.9550 during the session. The domestic unit finally settled at 79.95, down 13 paise over its previous close of 79.82. Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas said that a strong dollar overseas hit the rupee sentiment. The US Dollar surged as economic data from the US surprised the markets. The US ISM services PMI unexpectedly rose to 56.9 in August from 56.7 in July. "We expect Rupee to remain weak on strong US Dollar and weak cues from global markets. Dollar index surged to a fresh 20-year high and is

Rupee falls by 11 paise to 79.93 against US dollar in early trade

The rupee depreciated by 11 paise to 79.93 against the US dollar in opening trade on Wednesday, tracking the strength of the American currency overseas. At the interbank foreign exchange market, the rupee opened at 79.93 against the greenback, registering a decline of 11 paise over its last close. In initial deals, the local unit also touched 79.86 against the dollar. On Tuesday, the rupee depreciated 4 paise to close at 79.82 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.37 per cent to 110.62. The global oil benchmark Brent crude futures fell 1.33 per cent to USD 91.60 per barrel. According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, RBI keeps selling dollars to curb the rupee fall. "All eyes will be on the European Central Bank (ECB) meeting as a 75 basis points rate hike gets discussed to bring inflation down," Bhansali said. On the domestic equity market front, the 30-

Banks, financial markets strong enough to withstand extreme volatility: Das

Going forward, our monetary policy will be watchful, nimble footed and calibrated, says RBI Governor

India's external debt rises 8.2% to $620.7 bn till Mar 2022: FinMin report

While 53.2% of the debt was denominated in the US dollar, Indian rupee-denominated debt, estimated at 31.2%t, was the second largest, as per the status report released by FinMin

Rupee rises to close at 79.79 against US dollar amid firm domestic equities

The rupee appreciated 8 paise to close at 79.79 (provisional) against the US dollar on Monday, in line with a firm trend in domestic equities. However, the strengthening of the American currency in the overseas market restricted the rupee's gain, forex dealers said. At the interbank forex market, the local unit opened at 79.84 against the greenback. It witnessed an intra-day high of 79.79 and a low of 79.90 against the American currency during the session. It finally ended at 79.79 against the US dollar, up 8 paise from its previous close of 79.87. The dollar index, which measures the greenback's strength against a basket of six currencies, rose 0.28 per cent to 109.83. Brent crude futures, the global oil benchmark, rose 2.75 per cent to USD 95.58 per barrel. "Rupee consolidated in a narrow range despite the dollar rising to a 30-year high. Gains in the dollar extended after non-farm payrolls numbers released from the US came in better-than-estimates," said Gaurang Somaiya, Forex

Rupee rises 5 paise to 79.82 against US dollar, domestic equities advance

The rupee appreciated 5 paise to 79.82 against the US dollar in early trade on Monday in line with a positive trend in domestic equities. Forex traders said the rupee is trading in a narrow range as the strengthening of the American currency in the overseas market and rising crude oil prices are weighing on investor sentiment. At the interbank foreign exchange, the rupee opened at 79.84 against the dollar and touched 79.82 in initial deals, registering a gain of 5 paise over the last close. On Friday, the rupee closed at 79.87 against the dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.39 per cent to 109.95. Global oil benchmark Brent crude futures jumped 1.96 per cent to USD 94.84 per barrel. On the domestic equity front, the 30-share Sensex was trading 129.41 points or 0.22 per cent higher at 58,932.74 points, while the broader NSE Nifty advanced 44.35 points or 0.25 per cent to 17,583.80 points. Foreign instituti

Rupee closes at 79.8 versus dollar amid rise in crude oil, hawkish Fed view

Rupee logs first weekly gain in four, outperforms all EM currencies

Rupee outperforms most EM peers as dollar surges to a 20-year high

During the month gone by, the rupee depreciated a mere 0.2% against the greenback even as the dollar index has gained a massive 3%

Re to remain under pressure, may test new levels: Experts on Fed rate hikes

Indian rupee, which earlier this week touched an all-time low, is likely to remain under pressure and may test new levels as a fallout of the US Federal Reserve indicating more interest rate hikes, experts said. The aggressive rate hikes will dampen demand and increase the possibility of a recession in the US. This could accelerate the pace of capital outflows, weaken the rupee and raise the threat of imported inflation. The Fed rate hikes narrow the difference between the interest rates of India and the US, making India less attractive for dollar investment. This could lead to capital outflows, and coupled with elevated crude oil and commodity prices may depress the rupee further, experts said. Also, there is a threat of imported inflation. Even if the global prices remain unchanged, a weaker rupee means India is paying more for its imports and thus higher inflation. India is 85 per cent dependent on imports to meet its crude oil needs and 50 per cent for its gas requirement. The

Rupee surges to end at 79.46 vs dollar as MSCI rebalancing spurs inflows

Bond yields fall as HDFC's Rs 10,000 crore debt sale plan propels custodian flows

RBI support pulls rupee up from fresh lows, helps currency recoup losses

Central bank may have sold dollars heavily around the 80.05 mark to shield domestic unit

Rupee recovers some losses, falls 10 paise to close at 79.94 against dollar

After hitting all-time low, the rupee recovered some of its losses to settle 10 paise down at 79.94 (provisional) against the US dollar on Monday, tracking the strength of the American currency and firm crude oil prices. At the interbank foreign exchange market, the local currency opened at 80.10 and fell to its all-time low of 80.15 against the US dollar in intra-day trade. The local unit finally settled at 79.94 a dollar, down 10 paise over its previous close of 79.84. On July 20, the rupee for the first time closed below the 80-mark at 80.05 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.28 per cent higher at 109.10, after Federal Reserve Chair Jerome Powell adopted a hawkish tone to battle inflation. According to Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas, the rupee depreciated and touched an all-time low on a strong dollar and deteriorating global risk ...

The good, bad and ugly of rupee hitting new low against US dollar

Rupee, dragged down by storm of international pressures and geopolitical headwinds, is a wake-up call to regulators and policymakers to strengthen the currency

Rupee hits new low of 80.14 per $ as Fed's Powell talks tough on inflation

RBI interventions to determine rupee's course amid surging dollar

Rupee set to test fresh lows as Powell dispels hopes of softer Fed

But depreciation likely to be orderly because of RBI support, FPI inflows

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