Page 13 - Rupee

Rupee marks biggest gain in one year on strong foreign inflows

August also marked the first month this year when overseas investors turned net buyers of India's government debt

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 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

Rupee rises by 6 paise to 79.86 against US dollar in opening trade

The rupee appreciated 6 paise to 79.86 against the US dollar in opening trade on Friday, driven by foreign fund inflows and a firm trend in domestic equities. At the interbank foreign exchange, the domestic unit opened at 79.87 against the dollar and inched higher to touch 79.86, registering a gain of 6 paise over its previous close. In the previous session, the rupee declined by 6 paise to close at 79.92 against the American currency. The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.05 per cent to 108.51. Brent crude futures, the global oil benchmark, advanced 0.83 per cent to USD 100.16 per barrel. Forex traders said, the rupee is expected to witness range-bound trade this Friday, as investors await Federal Reserve Chairman Jerome Powell's speech for further clues about the pace of the US central bank's rate hikes. "Higher oil prices and a weak start in the Asian and emerging market peers could keep appreciating bias capped,

India's valuation premium to emerging market peers at five-month high

Nifty P/E 82% higher than MSCI EM; up from 54% in June

Rupee falls 7 paise to close at 79.93 against US dollar amid oil surge

The rupee declined by 7 paise to close at 79.93 (provisional) after moving in a narrow range against the US dollar on Thursday. At the interbank foreign exchange market, the domestic currency opened at 79.80 per dollar. It hovered in a range of 79.80 to 79.93 during the session. The domestic unit finally settled at 79.93, down 7 paise over its previous close of 79.86. "The Indian rupee stayed in a narrow range and underperformed among Asian currencies. China's stimulus to boost the economy supported regional peers while the local unit remained under pressure following high crude oil prices and risk-off moods at the domestic bourses," said Dilip Parmar, Research Analyst, HDFC Securities. Parmar further said that Spot USD/INR, in the near term, is expected to trade in the range of 79.60 to 80.10 ahead of monthly rebalancing tomorrow. Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, was down 0.50 per cent at 108.13. Brent crude

Amid hefty FPI flows, rupee turns into outperformer among EM peers

Rupee performs better than 11 emerging market currencies amid jump in US dollar index

Rupee worries force India's importers to hedge extra: An analysis

Foreign investors have withdrawn almost $25 bn from Indian equity and debt markets so far in 2022, as money rushes back into higher yielding dollars

Rupee seen firming to 78.5-79.5 against dollar by FY23-end: HDFC Bank

The rupee has has weakened 7.5% so far in the 2022 calendar year, trading close to a record low of 80.0650 hit last month, as aggressive rate hikes by the Federal Reserve sent the dollar rallying

Trade settlement: Govt says banks free to not deal with sanctioned entities

There are over 200 banks in Russia, and sanctions have not been imposed on all of them

RBI's net forward book shrinks $34.94 bn in first 3 months of FY23

The multi-pronged defence of the rupee is behind the sharp fall in RBI's long forward position

'High ATF prices, rupee depreciation may pose threat to carriers' recovery'

Elevated Aviation Turbine Fuel (ATF) prices and Rupee depreciation are likely to pose a serious threat to the recovery process for domestic carriers, credit ratings agency ICRA said on Wednesday. In India, ATF accounts for around 45 per cent of the operational cost of an airline. Besides, as much as 35-50 per cent of the airlines' operating expenses are US dollar driven, as per ICRA. An area of concern remains the ATF prices, which surged by around 77 per cent Y-o-Y in August, given the elevated crude oil prices due to geo-political issues arising from the Russian invasion of Ukraine, the ratings agency said. On an aggregate basis, it said a return to normalcy will lead to recovery in passenger load factors, which, in turn, will aid revenues; however, these two factors will continue to weigh on the domestic airlines'' earnings in FY23. This apart, the expected launch of Jet Airways and the entry of Akasa Air, are likely to intensify the competition for the domestic carriers. "ICR

Foreign investors pour over Rs 12k cr in Indian equities in last 10 days

The increase in the amount of money coming into the market has helped benchmark indices to rise sharply and rupee to appreciate against the US.

Rupee gains sharply as slowing US inflation softens Fed hike fears

Data released late Wednesday showed that US CPI inflation increased by a lesser-than-expected 8.5% in July as against a rise of 9.1% in June

RBI cancels Rupee Co-operative's licence; lender to cease business Sep 22

More than 99% of depositors of Pune-based lender to receive the full amount, says regulator

Rupee falls as strong US jobs data rekindles fear of aggressive Fed hikes

The Federal Reserve has already raised interest rates by 225 basis points since March 2020

Exporters meet Piyush Goyal, flag concerns on demand from Western nations

According to preliminary data released by the commerce ministry on Tuesday, merchandise exports declined to a five-month low of $35.2 billion in July

Rupee weakens 1% in two days as renewed talks of 'hawkish' Fed boost dollar

Record high trade deficit, technical factors add to woes

Rupee tumbles as Nancy Pelosi's Taiwan visit sparks US-China tension

A fresh record high monthly trade deficit in July also weighed on sentiment in the domestic currency market, traders said