Page 2 - Rupee

India's foreign exchange reserves at 11-week low, down for third week

The reserves stood at $566.95 billion in the week to Feb 10, down $8.3 billion from the previous week

Rupee depreciates 3 paise to 82.76 against US dollar in early trade

The rupee depreciated 3 paise to 82.76 against the US dollar in early trade on Tuesday, weighed down by a strong American currency . Forex traders said the rupee is trading in a narrow range as a positive trend in domestic equities and easing crude oil prices supported the local unit and restricted the fall. At the interbank foreign exchange, the domestic unit opened weak at 82.76 against the dollar, registering a decline of 3 paise over its last close. In the previous session on Monday, the rupee settled at 82.73 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.19 per cent to 104.05. Brent crude futures, the global oil benchmark, declined 1.11 per cent to USD 83.14 per barrel. Lack of triggers is keeping volumes subdued, forex traders said, adding that over this week, focus will be on European flash PMIs and the US Fed minutes. In the domestic equity market, the 30-share BSE Sensex was trading 104

India's forex reserves post biggest weekly decline in over 11 months

The reserves stood at a one-month low of $566.95 billion at the end of last week, down from $575.27 billion at the end of the prior week, during which it fell 1.5%

RBI may be selling dollars in NDF to keep rupee above 83/USD: Bankers

The central bank's move to sell dollars in the NDF before the open was likely aimed at ensuring that rupee does not fall below 83, the bankers said

Rupee poised to weaken after dollar jump on hawkish Federal Reserve

The Indian rupee is expected to open lower against the U.S. currency on Friday, following a surge on the dollar index after two Federal Reserve officials said they preferred bigger rate increases

Rupee up 21 paise to 82.62 against dollar amid firm trend in equity mkt

The rupee gained 21 paise to 82.62 against the US dollar in early trade on Thursday supported by broad dollar weakness and a firm trend in domestic equities. Forex traders said upbeat domestic trade deficit data and foreign fund inflows supported investor sentiments. At the interbank foreign exchange, the domestic unit opened at 82.72 against the dollar, then gained ground and touched 82.62, registering a rise of 21 paise over its previous close. On Wednesday, the rupee settled at 82.83 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.25 per cent to 103.66. Brent crude futures, the global oil benchmark, rose 0.50 per cent to USD 85.81 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 391.48 points or 0.64 per cent higher at 61,666.57. The broader NSE Nifty advanced 113.90 points or 0.63 per cent to 18,129.75. India's trade deficit in January fell to a 12-month low of

Foreign trade in rupee no great shakes despite surge in vostro accounts

Teething troubles in exchange rate mechanism, repatriation cited as roadblocks, even as Russia, African and Gulf nations and a few others evince interest in rupee-denominated trade

Several banks open special vostro accounts for overseas trade in rupee

Several banks, including HDFC Bank and UCO Bank, have opened special vostro accounts to facilitate overseas trade in the rupee and many countries have expressed interest to have this arrangement for the local currency trade, a top government official said on Wednesday. Director General of Foreign Trade (DGFT) Santosh Kumar Sarangi said that the commerce ministry is in regular touch with banks, the Department of Financial Services and exporters on the issue. "As of now there are 20 banks which have opened a special rupee vostro account," he told reporters here. All major banks have shared a list of nodal officers to sort out exporters' issues pertaining to these accounts, he added. "This is a new initiative, there are teething troubles relating to the exchange rate mechanism, the repatriation of money. So, it has not fully taken off...But we are constantly in touch with the banks, the RBI and our exporters to ensure that it picks up," Sarangi said. He said that some exporters in Jai

Rupee to weaken on bets of more Fed Reserve rate hikes, RBI in focus

The non-deliverable forwards indicate that the rupee will open at around 82.85-82.90 to the dollar, compared with 82.7550 in the previous session

Rupee gains 13 paise to 82.57 against dollar as US currency retreats

The rupee gained 13 paise to 82.57 against the US dollar in early trade on Tuesday as the American currency retreated from its elevated levels. Forex traders said a positive trend in domestic equities and fresh foreign fund inflows also supported investor sentiments. At the interbank foreign exchange, the domestic unit opened at 82.59 against the dollar, then gained ground and touched 82.57, registering a rise of 13 paise over its previous close. In initial trade, the rupee also touched a low of 82.61 against the American currency. On Monday, the rupee fell by 12 paise to close at 82.70 against the US currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.16 per cent to 103.18. Brent crude futures, the global oil benchmark, declined 0.70 per cent to USD 86 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 315.74 points or 0.52 per cent higher at 60,747.58. The broader NSE Nifty advanced

India's soaring Russian oil imports making rupee payment mechanism futile

New Delhi's imports from Russia in eight months to November were almost 16 times its shipments to the nation, trade ministry data show

Rupee to end FY23 stronger after recent volatility: Business Standard Poll

Amid Adani crisis, uncertain US rate view, improving fundamentals to buttress rupee

Rupee falls 12 paise to 82.63 against US dollar on strong greenback

The rupee depreciated 12 paise to 82.63 against the US dollar in early trade on Friday as a lacklustre trend in domestic equities and a strong greenback in the overseas markets dented investor sentiments. Besides, sustained foreign fund outflows and elevated crude oil prices in the international market weighed on the domestic unit, forex traders said. At the interbank foreign exchange, the domestic unit opened weak at 82.61 against the dollar, then fell further in early deals to 82.63, registering a decline of 12 paise over its last close. On Thursday, the rupee appreciated 3 paise to close at 82.51 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.15 per cent to 103.38. Brent crude futures, the global oil benchmark, declined 0.19 per cent to USD 84.34 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 183.51 points or 0.30 per cent lower at 60,622.71 points. The broader

Rupee likely to fall on hawkish Fed Reserve comments, higher oil prices

The non-deliverable forwards indicated the rupee would open around 82.60-82.62 per dollar, compared with the 82.4925 closing in the previous session

Rupee appreciated 4 paise to 82.66 against US dollar in early trade

The rupee appreciated 4 paise to 82.66 against the US dollar in early trade on Wednesday, supported by a firm trend in domestic equities ahead of the Reserve Bank of India's monetary policy decision. However, investors remained concerned over rising crude prices in the overseas markets and persistent foreign capital outflows, forex traders said. At the interbank foreign exchange, the domestic unit opened strong at 82.67 against the dollar, then inched higher to 82.66, a rise of 4 paise over its last close. In early deals, it was moving in a close range of 82.66-82.67. On Tuesday, the rupee rose 6 paise to close at 82.70 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.10 per cent to 103.33. Brent crude futures, the global oil benchmark, advanced 0.18 per cent to USD 83.84 per barrel. The Reserve Bank of India's monetary policy decision on Wednesday will be closely watched by investors for furt

Rupee eyes RBI policy decision, weighs US Federal Reserve's comments

The non-deliverable forwards indicate an opening of 82.68-82.74 for the rupee, compared with 82.70 in the previous session

Rupee gains 10 paise to 82.66 against US dollar on weaker greenback

The rupee appreciated 10 paise to 82.66 against the US dollar in early trade on Tuesday on the back of a positive trend in domestic equities and relatively weaker greenback. However, foreign capital outflows restricted the gain in the domestic unit, forex traders said. At the interbank foreign exchange, the domestic unit opened strong at 82.68 against the dollar, then gained further ground to 82.66, a rise of 10 paise over its last close. In early deals, it was moving in a tight range of 82.69-82.65. On Monday, the rupee fell 68 paise to close at a one-month low of 82.76 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.15 per cent to 103.46. Brent crude futures, the global oil benchmark, advanced 0.98 per cent to USD 81.78 per barrel. This week, the key trigger for the markets is likely to be the decision of the RBI's Monetary Policy Committee on interest rate that will be announced on ...

Rupee falls 1% as robust US jobs data stokes Fed rate hike fears

Globally, investors fear that the US Fed will have to continue raising interest rates for longer than expected to cool labour markets and bring down inflation

Bond yields and rupee to closely track RBI's monetary policy meet

The RBI is widely expected to raise interest rates by 25 basis points (bps) on Wednesday, which many traders believe will be the last before a prolonged pause

FPI outflows, Adani group's FPO cancellation sour mood for rupee

The domestic currency closed at 82.18 per US dollar as against 81.93 per dollar on Wednesday