Page 5 - Rupee

Trade in rupee with Russia: A good start with tea, pharma, engg goods items

Such transactions kicked off a week ago and are gradually expected to pick up pace amid the government's efforts towards ironing out the teething troubles related to the implementation

Rupee starts New Year on muted note, closes at 82.75 against dollar

The rupee started the New Year on a muted note, declining 14 paise to close at 82.75 (provisional) against the US dollar on Monday as rising crude oil prices and sustained foreign fund outflows weighed on investor sentiment. Forex traders said the support from firm domestic equities and weak American currency was negated by the gains in crude oil prices and sustained foreign fund outflows. At the interbank foreign exchange market, the rupee opened lower at 82.66 against the greenback and witnessed an intra-day high of 82.56 and a low of 82.78. It finally settled at 82.75, down 14 paise over its previous close. On the last trading day of 2022, the rupee had settled at 82.61. "The Indian rupee started the first trading day of the new year with a small loss as many markets remained closed on account of the New year Holiday. "The rupee was unable to hold the morning gains in absence of inflows. The thin trading volumes, stronger domestic equities and better-than-expected PMI readings

Worst year for rupee since 2013 despite surpassing Turkish lira, UK pound

RBI's intervention caused foreign reserves to decline to $70 billion in 2022, lowest in at least 22 years; worst show by bonds since 2009 on sustained repo rate hike

Rupee ends final week of 2022 higher as market mood improves

The rupee finished the year at 82.72 to the US currency, down from 74.33 at the end of 2021, while the dollar index was headed for its biggest yearly gain since 2015

Rupee rangebound as dollar sales by exporters help in risk-averse market

The rupee was at 82.78 per dollar by 10:05 a.m. IST, having firmed up to 82.75. The currency closed at 82.8575 on Wednesday

Indian rupee goes digital

Digital currency and fail-safe wireless connectivity should have preceded demonetisation

Rupee falls 9 paise to 82.74 against US dollar as crude prices rise

The rupee declined 9 paise to 82.74 against the US dollar in early trade on Tuesday as rising crude prices weighed on investor sentiment. Besides, foreign fund outflows put pressure on the domestic unit, forex dealers said. At the interbank foreign exchange, the domestic unit opened weak at 82.71 against the dollar, then slipped further to 82.74, registering a fall of 9 paise over its previous close. In the previous session on Monday, the rupee appreciated 17 paise to close at 82.65 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.19 per cent to 104.11. Brent crude futures, the global oil benchmark, advanced 0.45 per cent to USD 84.30 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 61.14 points or 0.10 per cent higher at 60,627.56. The broader NSE Nifty rose 17.90 points or 0.1 per cent to 18,032.50. Foreign Institutional Investors (FIIs) were net sellers in capital

Rupee tracks positive domestic equities, gains 17 paise against dollar

The rupee appreciated 17 paise to close at 82.65 (provisional) against the US dollar on Monday, tracking positive domestic equities and the weakening of the American currency in the overseas market. At the interbank foreign exchange market, the local unit opened at 82.79 and touched an intra-day high of 82.63 and a low of 82.83 against the greenback. It finally settled at 82.65, registering a rise of 17 paise over its previous close of 82.82. According to Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas, the rupee appreciated on Monday on a surge in domestic equities and a soft US Dollar. Domestic indices gained by around 1.5 per cent. The US Dollar softened amid improved global risk sentiments and softer inflation in the US. "We expect the rupee to trade with a positive bias on weakness in the Dollar and positive domestic markets. The decline in safe-haven appeal on the rise in risk appetite in global markets may also put pressure on the dollar. "However, the surge i

Rupee opens flat at 82.79 against US dollar as crude oil prices rise

The rupee on Monday started the session on a flat note against the US dollar amid rising crude oil prices and persistent foreign capital outflows. At the interbank foreign exchange, the rupee opened at 82.79 against the dollar and lost ground to later trade at 82.83, registering a fall of 1 paisa over the last close. In the previous session on Friday, the rupee dipped 3 paise to close at 82.82 against the dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.11 per cent lower at 104.31. On the domestic equity market front, the 30-share Sensex was trading 434.69 points or 0.73 per cent higher at 60,279.98, while the broader NSE Nifty advanced 128 points or 0.72 per cent to 17,934.80. Global oil benchmark Brent crude futures jumped 3.63 per cent to USD 83.92 per barrel. Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth Rs 706.84 crore, as per stock exchange ...

SBI to facilitate rupee trade with Russia after RBI gives approval

9 Indian banks have permission to open 17 special vostro rupee accounts for overseas trade with sanctions-hit nation

RBI's forex reserves rise for fifth straight week to $564.07 billion

According to analysts, the increase in the RBI's reserves is owing to revaluation as well as the central bank's purchases of the greenback as it looks to replenish the reserves

Heavy selling pressure: Rupee falls 9 paise to settle at 82.85 agnst dollar

The rupee dropped 9 paise to close at 82.85 (provisional) against the US dollar on Friday amid heavy selling pressure in domestic equities and a strong greenback overseas. However, receding crude oil prices capped the rupee's loss, forex traders said. At the interbank foreign exchange market, the rupee opened sharply lower at 82.84 against the greenback and witnessed a high of 82.73 and a low of 82.89. It finally settled at 82.85 against the greenback, down 9 paise over its previous close of 82.76. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.13 per cent to 104.69. Brent crude futures, the global oil benchmark, declined 2.29 per cent to USD 79.35 per barrel. In the domestic equity market, the 30-share BSE Sensex closed 461.22 points or 0.75 per cent lower at 61,337.81. The broader NSE Nifty fell 145.90 points or 0.79 per cent to 18,269. Foreign institutional investors (FIIs) turned net sellers in capital markets on

Rupee, bonds take a sharp knock as Fed maintains aggressive stance

The domestic currency has depreciated over 10% against the greenback so far this year

Bonds and rupee gain; US inflation spurs hopes of dovish Fed move

Markets feel that US central bank's aggressive rate hike cycle may be nearing an end

RBI removes informal restrictions on rupee NDF trades, says report

The central bank had in October informally communicated to banks to halt building new positions in the NDF market to manage the rupee's volatility

Rupee records 6.9% depreciation against US dollar in current financial year

The Indian rupee has witnessed a depreciation of 6.9 per cent in the current financial year till November 30, the Parliament was told on Tuesday

Rupee sheds 26 paise to dollar as firm US data leads to Fed hike jitters

The domestic unit settled at 82.54 to the dollar on Monday, from 82.28 at previous close. So far in 2022, the Indian currency has shed 9.9% against the greenback

RBI sells $33.42 billion in Apr-Sep FY23 to curb rupee volatility

The Reserve Bank of India (RBI) net sold USD 33.42 billion in the foreign exchange market in the first six months of current fiscal to defend the rupee from excessive volatility. The central bank closely monitors the foreign exchange markets and intervenes only to maintain orderly market conditions by containing excessive volatility in the exchange rate, without reference to any pre-determined target level or band. "During the financial year, the RBI's operations have resulted in net sales of USD 33.42 billion till September 2022 (settlement basis)," Finance Minister Nirmala Sitharaman said in a reply to the Lok Sabha. The exchange rate of the Indian Rupee (INR) against the greenback hit a record high of Rs 83.20 per dollar on October 20, 2022. The value of rupee is market-determined. As global spillovers from geopolitical tensions and aggressive monetary policy tightening across the world intensified alongside a surge in crude oil prices, the US dollar strengthened by 7.8 per cent

Trade settlement with Russia in rupees to start next week: Report

Five to six banks have been allowed to open Vostro accounts for rupee trade settlement and 10-11 such accounts have been opened so far

State Bank of India to begin overseas rupee trade with smaller nations

Move to steer clear of West sanctions on Russia deals