Page 12 - Rupee

Strong dollar vs foreign inflows: Rupee in fine balance ahead of Fed meet

Analysts expect rupee to trade in the range of 78-80 per dollar, for now

Currency internationalisation: India pushes for rupee trade with Cuba

In July, the RBI had unveiled a mechanism to settle international transactions in rupee to promote the growth of global trade, with emphasis on exports from India

SBI asks exporters to trade with Bangladesh in rupee, taka: Report

"The country is facing a shortage of foreign currency due to higher import bills and weaknesses of Bangladeshi taka against dollar in recent times," the SBI said

Stagflation-free Asia leaving taper tantrums behind as currencies fare well

The foreign-exchange stockpiles Asian economies built up have helped cushion the impact of this year's market turmoil, which has spurred the largest equity outflows for at least a decade.

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

Govt permits invoicing, payment and settlement of trade in rupee

The commerce ministry on Friday allowed invoicing, payment and settlement of exports and imports in Indian rupee, a move aimed at facilitating trade in the domestic currency. In July, the Reserve Bank of India (RBI) had asked banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. To align the Foreign Trade Policy (FTP) with this decision of the RBI, the Directorate General of Foreign Trade (DGFT) added a new paragraph in the FTP. DGFT is an arm of the ministry which deals with export and import related matters. "Para 2.52 (d) is notified to permit invoicing, payment and settlement of exports and imports in INR (Indian rupee) in sync with RBI's ...circular dated July 11, 2022. This shall come into force with immediate effect," DGFT said in a notification. Accordingly, it said, settlement of trade transactions in INR may also take place through special

Banks seek clarity on 'grey areas' from RBI on Rupee Vostro accounts

India has stepped up its purchase of cheaper Russian crude despite international opposition and sanctions. New Delhi is looking to settle this trade in rupees to continue with its purchases

Further correction in IT stocks not ruled out amid multiple headwinds

The IT industry is seen as a hedge against rupee depreciation

Rupee depreciates 43 paise to 79.60 against US dollar in early trade

The rupee depreciated by 43 paise to 79.60 against the US dollar in opening trade on Wednesday, as higher-than-expected US CPI print resulted in massive risk-off sentiments. At the interbank foreign exchange market, the rupee opened at 79.58 against the greenback, then fell to 79.60, registering a decline of 43 paise over its last close. In initial deals, the local unit also touched 79.54 against the dollar. On Tuesday, the rupee appreciated by 36 paise to close at an over one-month high of 79.17 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.03 per cent to 109.77. Global oil benchmark Brent crude futures fell 0.10 per cent to USD 92.91 per barrel. The US August CPI came in higher than expected at 8.3 per cent year-on-year and 0.6 per cent month-on-month. "The higher-than-expected print has raised the prospect of more aggressive monetary policy tightening by the US Fed. Markets now expect the termi

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

Drop in India's forex reserves worrisome as inflows slow down: Economists

India's forex reserves declined to $553.1 bn in the week ended Sept. 2, their lowest since Oct. 2020 and down by $8 bn from the previous week, RBI data showed on Friday

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

Bonds, rupee strengthen as crude oil prices fall below $90 a barrel

Hope of global index inclusion drags down bond yields, FPI flows bolster rupee

Govt, RBI propose action plan for facilitating special rupee accounts

According to the action plan, once banks receive applications from corresponding banks, they have to undertake internal scrutiny and send it to the RBI for approval

See-saw week of volatility sees indices end marginally in the green

A depreciating rupee and foreign fund outflows further crimped risk appetite, traders said.

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 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

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%

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

Top headlines: TMB IPO to open on Sep 5; rupee sees biggest gain in 1 year

The Indian rupee notched its biggest one-day gain in a year on Tuesday against a wobbly dollar as local equities saw a rush of foreign investor inflows