Page 3 - Rupee

Rupee closes at 82.20 against US dollar amid foreign fund outflows

The rupee fell 40 paise to close below the 82 per US dollar mark on Thursday, weighed down by foreign fund outflows and corporate dollar demand. At the interbank foreign exchange market, the rupee opened at 81.81 against the greenback, and touched an intra-day high of 81.71 and a low of 82.20. It finally settled at 82.20 (provisional), down 40 paise over its previous close. On Wednesday, the rupee had appreciated 8 paise to close at 81.80 against the dollar after Finance Minister Nirmala Sitharaman presented the Union Budget for 2023-24. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.12 per cent lower at 101.10, after the US Fed hiked the interest rate along expected lines by 25 basis points to 4.50-4.75 per cent. Global oil benchmark Brent crude futures declined 0.14 per cent to USD 82.72 per barrel. "The Indian rupee became the worst performer among Asian currencies amid foreign fund outflows and corporate dollar demand

Rupee likely to open higher after Fed rate hike, local equities in focus

Rupee likely to open higher after Fed rate hike, local equities in focus

TMS Ep360: Budget for common man & corporates, Shankar Sharma, govt revenue

What does Budget 2023 have for the common man? How will Budget impact corporate India? What does Budget mean for markets & investors? Where does the rupee come from and where does it go? Answers here

Budget at a glance: Here're the key numbers from Union Budget 2023

A snapshot of the key numbers released by Finance Minister Nirmala Sitharaman in Union Budget 2023

Budget 2023-24: Where does the rupee come from, and where does it go?

Budget 2023: The largest share of the Centre's expenditure goes towards paying the interest on borrowings

Rupee slides 43 paise on risk aversion ahead of Budget, Fed statement

Govt bond yields decline ahead of Budget statement as traders feel the fall in prices over the past week had been overdone

Promoting int'l trade in rupee to help reduce currency volatility: Survey

Promoting international trade in the domestic currency will help in protecting the rupee from volatility and reduce cost of doing business in the global markets, Economic Survey said on Tuesday. The survey suggested that it could assist Indian exporters in getting advance payments in rupee from overseas clients and in the longer term promote the domestic currency as an international currency once the rupee settlement mechanism gains traction. In July 2022, the Reserve Bank of India issued a circular permitting an additional arrangement for invoicing, payment, and settlement of exports/imports in Indian rupees (INR) to promote the growth of global trade with emphasis on exports from India and to support the increasing interest in the global trading community in rupee as an international currency. The framework involves invoicing of exports and imports in rupee, market-determined exchange rates between the currencies of the trading partner countries, and settlement through special rup

Rupee depreciates by 41 paise to close at 81.93 against US dollar

The rupee depreciated by 41 paise to close at 81.93 (provisional) against the US dollar on Tuesday after the Economic Survey 2022-23 said the domestic unit may remain under pressure on account of plateauing of exports and subsequent widening of current account deficit. Forex traders said significant foreign fund outflows and a muted trend in domestic equities also dented investor sentiment. At the interbank foreign exchange, the domestic unit opened weak at 81.61 against the dollar, and lost further ground to fall below the 82 per US dollar level. The rupee finally ended at 81.93, registering a decline of 41 paise over its last close. During the session, the local unit witnessed an intra-day high of 81.58 and a low of 82.07 against the US dollar. In the previous session on Monday, the rupee settled at 81.52 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.15 per cent to 102.43. Brent cr

Pakistan's fate at stake as rupee plunges to 250 against the dollar: Report

Pakistani's economy has reached rock bottom as the rupee plummeted to 250 against the US dollar and the value of currency depreciated

Rupee falls 10 paise to 81.69 against US dollar amid FPI outflows

The rupee depreciated 10 paise to 81.69 against the US dollar in early trade on Monday, weighed down by significant foreign fund outflows. At the interbank foreign exchange, the domestic unit opened weak at 81.69 against the dollar, registering a decline of 10 paise over its last close. In the previous session on Friday, the rupee settled at 81.59 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.01 per cent to 101.92. Brent crude futures, the global oil benchmark, declined 0.17 per cent to USD 86.51 per barrel. The focus on the Union Budget and the US Federal Reserve's policy decision will dictate the course for the local unit on Monday, traders said. "Asian and emerging market peers have started with gains and could aid investor sentiments. However, demand from importers and the Reserve Bank of India's presence could cap gains," said Sriram Iyer, Senior Research Analyst at Reliance ...

Rupee closes at 81.53 against US dollar amid heavy selling pressure

The rupee appreciated 8 paise to close at 81.53 (provisional) against the US dollar on Friday amid a firm American currency against major rivals overseas. However, heavy selling pressure in the domestic equity markets and unabated foreign fund outflows restricted the gains in the local currency, forex traders said. At the interbank foreign exchange market, the rupee opened stronger at 81.51 to a dollar. The local unit moved in the range of 81.50 to 81.67 during the day. It finally settled at 81.53, a rise of 8 paise against the previous close of 81.61. On Wednesday, the rupee had slipped 2 paise against the US dollar. The currency markets were closed on Thursday on account of Republic Day. Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.02 per cent to 101.82 after positive macroeconomic data released by the US government on Thursday. Brent crude was trading 1.19 per cent higher at USD 88.51 per barrel. On the dome

Rupee appreciates by 9 paise to 81.52 against US dollar in opening trade

The rupee appreciated by 9 paise to 81.52 against the US currency in early trade on Friday as crude oil prices were little changed ahead of the oil cartel OPEC's meeting. Expectations of FII inflows into Rs 20,000 crore FPO of Adani Enterprises also bolstered the local currency. At the interbank foreign exchange market, the rupee opened higher at 81.51 against the previous close of 81.61 on Wednesday. The money markets were closed on Thursday for the Republic Day holiday. The rupee moved in a range of 81.50 to 81.58 in early trade. It was trading at 81.52 to a dollar at 0940 hours. Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, edged up 0.08 per cent to 101.92. Brent crude was trading 0.34 per cent higher at USD 87.77 per barrel. The Joint Ministerial Monitoring Committee of OPEC will meet next week to take a call on the output and full meeting of the cartel and allies. Also, the 20,000 crore FPO of Adani Enterprises op

Rupee closes at 81.70 against dollar amid unabated foreign fund outflow

The rupee fell 28 paise to close as 81.70 (provisional) against the US dollar on Tuesday as unabated foreign fund outflow hit market sentiments. However, a weak dollar and fall in crude prices capped the losses in the local currency, forex traders said. At the interbank foreign exchange market, the rupee opened lower at 81.61 to a dollar against the previous close of 81.42. The local unit moved in a range of 81.43 to 81.76 during the day. On Monday, the rupee had declined by 25 paise to close at 81.42 against the US dollar. Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.01 per cent to 102.15 amid concerns over US economic growth. The Brent crude was trading 0.41 per cent lower at USD 87.83 per barrel. On the domestic equity market front, the 30-share BSE Sensex ended almost flat at 60,978.75, up 37.08 points or 0.06 per cent. The broader NSE Nifty inched up 0.25 points to 18,118.30. Foreign Institutional Inve

Rupee falls 26 paise to 81.68 against dollar amid rise in forex outflows

Early gains in domestic equity markets and a weak dollar against world currencies, however, restricted the rupee's losses

Rupee falls 21 paise to 81.38 against US dollar amid rise in crude prices

The rupee fell 21 paise to close as 81.38 (provisional) against the US dollar on Monday amid rise in crude prices. However, strong sentiment at domestic equities market and a weak dollar restricted the fall of the local currency, forex traders said. At the interbank foreign exchange market, the rupee opened stronger at 80.92 to a dollar against the previous close of 81.17. The local unit moved in a range of 81.47 to 80.93 during the day. On Friday, the rupee had appreciated by 19 paise to close at 81.17 against the US dollar. Meanwhile, the US dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.35 per cent to 101.66 amid concerns over US economic growth. The Brent crude rose 0.26 per cent to USD 87.86 per barrel. On the domestic equity market front, the 30-share BSE Sensex rose by 319.90 points or 0.53 per cent to 60,941.67, while the broader NSE Nifty gained 90.90 points or 0.5 per cent to settle at 18,118.55. Foreign Institutional

India's central bank likely buying dollar after rupee rose above 81.125/$

India's central bank likely bought dollars via state-run banks to prevent the rupee from appreciating significantly above the 81 psychological level

Rupee may firm past 81 per dollar, bond yields to edge up ahead of Budget

The rupee rose for a second straight week, gaining 0.25% over last week to end at 81.12 per dollar on Jan. 20, as the greenback slid on soft US data

Rupee closes at 81.18 against US dollar amid surge in crude oil prices

The rupee appreciated 18 paise to close at 81.18 (provisional) against the US dollar on Friday on broad dollar weakness. However, weak domestic equities and a surge in crude oil prices capped sharp gains for the local currency, forex traders said. At the interbank foreign exchange market, the local unit opened strong at 81.24, and settled for the day at 81.18 (provisional), registering a rise of 18 paise over its previous close. During the trading session, the local unit witnessed an intra-day high of 81.09 and a low of 81.28 against the American currency. On Thursday, the rupee closed at 81.36 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.21 per cent to 102.26. Global oil benchmark Brent crude futures rose 0.48 per cent to USD 86.57 per barrel. According to Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas, the Indian rupee appreciated on Friday on soft US dollar and FII inflows on ...

Davos 2023: UAE in talks with India to trade non-oil commodities in rupees

The minister said other countries, including China, had also raised the issue of settling non-oil trade payments in local currencies

Rupee closes at 81.37 against dollar amid muted trend in domestic equities

In the previous session on Wednesday, the rupee had settled at 81.30 against the US dollar