Page 7 - Rupee

Rupee closes at 81.26 against dollar amid muted trend in domestic equities

The rupee depreciated by 48 paise to close at 81.26 (provisional) against the US dollar on Monday, tracking the recovery in the American currency and a muted trend in domestic equities. Forex traders said rising crude oil prices also weighed on investor sentiments. At the interbank foreign exchange market, the local unit opened on a strong note at 80.53, but pared gains and finally settled at 81.26 against the American currency, registering a fall of 48 paise over its last close. On Friday, the rupee appreciated by 62 paise to close at 80.78 against the dollar. "Indian Rupee depreciated on recovery in US Dollar and weak domestic markets. However, Rupee opened higher on upbeat macroeconomic data," said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. India's industrial production expanded by 3.1 per cent in September, boosted by manufacturing, mining and power sectors, according to official data released on Friday. "Overall weakness in the Dollar amid rising expectat

Rupee logs best single-day gain in 4 years as Fed hikes seen slowing

As dollar index breaches key technical levels, outlook on rupee improves

Rupee appreciates by 62 paise to close at 80.78 against US dollar

The rupee appreciated by 62 paise to close at 80.78 (provisional) against the US dollar on Friday, as moderating US CPI data coupled with a fall in the dollar index boosted investor sentiments. Forex traders said positive domestic equities and sustained foreign fund inflows also supported the local unit. At the interbank foreign exchange market, the local unit opened at 80.76 and touched an intra-day high of 80.58 and a low of 80.99 against the greenback. The local unit finally settled at 80.78, registering a rise of 62 paise over its previous close of 81.40. "The Indian rupee appreciated on weak US Dollar and positive domestic markets. Sustained FII inflows also supported Rupee," said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. However, a surge in crude oil prices capped sharp gains. US inflation and core inflation declined to 7.7 per cent and 6.3 per cent in October from 8.2 per cent and 6.6 per cent in September, respectively, amid hopes that inflation may h

Rupee up 71 paise to 80.69 against dollar amid moderating US CPI data

The rupee appreciated 71 paise to 80.69 against the American currency in early trade on Friday, as moderating US CPI data coupled with the fall in the dollar index boosted investor sentiments. Forex traders said factors like positive domestic equities and weakness in crude oil prices also supported the local unit. At the interbank foreign exchange, the domestic unit opened at 80.76 against the dollar, then gained further ground to touch 80.69, registering a rise of 71 paise over its previous close. On Thursday, the rupee appreciated 7 paise to close at 81.40 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.02 per cent to 108.18 on cooling US CPI data. US headline CPI print came in at 7.7 per cent year-on-year (0.4 month-on-month). Core CPI print which excludes the volatile food and energy components also came in lower at 6.3 per cent year-on-year (0.3 per cent month-on-month), IFA Global Research .

Rupee slides 38 paise against dollar as traders jittery before US CPI

Over the last three days of trade, the rupee had strengthened sharply against the US dollar, climbing to one-month highs. The domestic currency was at 82.89 on November 3

Rupee closes at 81.77 against dollar ahead of US inflation data

The rupee depreciated by 30 paise to close at 81.77 (provisional) against the US dollar on Thursday, as participants remained cautious ahead of the release of the US inflation data. Forex traders said a weak trend domestic equities also weighed on investor sentiments. At the interbank foreign exchange market, the local unit opened at 81.61 and witnessed a high of 81.54 and a low of 81.92. It finally settled at 81.77 against the American currency, registering a fall of 30 paise over its last close of 81.47. "Rupee came under pressure in the first half of the session ahead of the US inflation number that will be released today. Expectation is that inflation could come in lower and that could keep gains capped for the dollar," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services. Also, market participants remained cautious ahead of mid-term election results. "Some market participants suggest a strong chance of Republicans winning a House majority and a ...

Centre allows trade settlement for export promotion schemes in Indian rupee

With the amendment to the Foreign Trade Policy, invoicing, payment, and settlement of trade can now take place in Indian rupee

Rupee closes at 81.47 against US dollar amid fall in crude oil prices

The rupee appreciated by 45 paise to close at 81.47 (provisional) against the US dollar on Wednesday amid fall in crude oil prices, dollar weakness and sustained foreign fund inflows. At the interbank foreign exchange market, the local unit opened at 81.43, and witnessed an intra-day high of Rs 81.23 and low of Rs 81.62 during the session. The local unit finally settled at 81.47 against the American currency, registering a rise of 45 paise over its previous close. On Monday, the rupee had settled at 81.92 against the US dollar. The forex market was closed on Tuesday on account of 'Gurunanak Jayanti'. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.18 per cent to 109.83. Global oil benchmark Brent crude futures fell 0.64 per cent to USD 94.75 per barrel. "Rupee continued to gain strength as the broader dollar witnessed selling pressure at higher levels. The greenback continued to remain weighed down also ahead of the US

Rupee closes at 81.90 against dollar amid sustained foreign fund inflows

The rupee appreciated by 45 paise to close at 81.90 (provisional) against the US dollar on Monday amid a weak American currency and sustained foreign fund inflows. At the interbank foreign exchange market, the local unit opened at 82.14 and touched an intra-day high of 81.90 and a low of 82.32 against the greenback. The local unit finally settled at 81.90, registering a rise of 45 paise over its previous close amid a positive trend in domestic equities. On Friday, the rupee had appreciated by 53 paise to close at 82.35. "Indian Rupee appreciated on weak US Dollar and positive domestic markets. Asian markets jumped today following a surge in US and European markets on Friday," said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. Choudhary further said the rupee is expected to trade with a positive bias on rise in risk appetite in global markets and weak dollar. "FII inflows may also support rupee. However, a surge in crude oil prices may cap sharp gains. Investors m

Rupee up 23 paise to 82.12 against US dollar in early trade as crude eases

The rupee appreciated 23 paise to 82.12 against the US dollar in early trade on Monday amid a positive trend in domestic equities and easing crude prices. At the interbank foreign exchange, the domestic unit opened at 82.14 against the dollar, then gained further ground to touch 82.12, registering a rise of 23 paise over its previous close. On Friday, the rupee appreciated by 53 paise to close at 82.35 against the US dollar. According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the rupee started the trade with a gap-up trade tracking the overnight weakness of the dollar. However, most of the Asian and emerging market peers weakened against the greenback this Monday morning after Chinese officials on the weekend reiterated their commitment to a strict COVID containment approach and could cap appreciation bias of the local unit, Iyer noted. The key triggers for currencies this week will be the US inflation rate data followed by several speeches by Fed ...

India's foreign exchange reserves jump $6.5 billion to $531 billion

The increase in reserves is mainly due to a rise in foreign currency assets that went up by $5.7 billion during the week

Rupee logs best single-day gain since September 30 on strong FPI flows

The rupee settled at 82.44 per dollar on Friday versus 82.89 on Thursday

Rupee closes at 82.35 against dollar on persistent foreign fund inflows

The rupee appreciated by 53 paise to close at 82.35 against the US dollar on Friday, boosted by persistent foreign fund inflows and a weakening greenback overseas. At the interbank foreign exchange market, the local unit opened at 82.85 and shuttled between 82.35 and 82.85 during the session. It finally settled at 82.35 against the American currency, registering a rise of 53 paise over its previous close of 82.88. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.34 per cent to 112.54. Global oil benchmark Brent crude futures rose 2.05 per cent to USD 96.61 per barrel. "Euro and Pound too recovered on Friday from intraday lows as broader dollar retraced against its major crosses," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services. On Thursday, pound fell sharply against the US dollar after the Bank of England raised rates by 75 bps. "We expect the USD-INR (Spot) to trade sideways and quo

Rupee appreciates by 47 paise to close at 82.41 against US dollar

The rupee appreciated by 47 paise to close at 82.41 (provisional) against the US dollar on Friday, as the greenback retreated from its elevated levels. At the interbank foreign exchange market, the local unit opened at 82.85 and finally settled at 82.41 against the American currency, registering a rise of 47 paise over its previous close amid a positive trend in domestic equities. On Thursday, the rupee had closed 8 paise lower at 82.88. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.34 per cent to 112.54. Global oil benchmark Brent crude futures rose 2.05 per cent to USD 96.61 per barrel. "Euro and Pound too recovered on Friday from intraday lows as broader dollar retraced against its major crosses," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services. On Thursday, pound fell sharply against the US dollar after the Bank of England raised rates by 75 bps. "We expect the USD-INR (Spot) t

Bond yields track US peers on Federal Reserve interest rate hike

Total trade volumes in the regular secondary bond market were at Rs 21,150 crore on Thursday

In a two-decade first, currency in circulation declines in Diwali week

The currency in circulation (CIC) declined by Rs 7,600 crore in the Diwali week, making it the first such happening in two decades, a report said on Thursday. This was made possible courtesy of a greater reliance on digital payments by people, the report by economists at SBI said, adding that the Indian economy is undergoing a structural transformation at present. They clarified that the Diwali week in 2009 had also witnessed a marginal Rs 950 crore decline in currency in circulation, but that was purely due to the economic slowdown amid the global financial crisis. "The innovations in technology have changed the Indian payment system. Over the years, the Indian cash lead economy now has changed to a smart-phone lead payment economy," they said. The economists also said that a lower currency in circulation also is akin to a cut in the cash reserve ratio for the banking system as it results in lower leakage of deposits and will have a positive impact on monetary transmission as ...

Rupee likely to weaken after US Fed's Powell hints at higher peak rate

The rupee is expected to open at around 82.85-82.90 to the dollar, compared with 82.7800 in the previous session.

Ahead of US Fed policy decision, rupee closes at 82.78 against dollar

The rupee depreciated 19 paise to close at 82.78 (provisional) against the US dollar on Wednesday, tracking a muted trend in domestic equities ahead of the release of the US Fed's policy statement. At the interbank foreign exchange market, the local unit opened at 82.64 and witnessed a high of 82.62 and a low of 82.81. It finally settled at 82.78 against the American currency, registering a fall of 19 paise over its last close of 82.59. "Rupee consolidated in a narrow range ahead of the important events that are lined up today and tomorrow," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services. The focus will be on the Federal Open Market Committee (FOMC) policy statement on Wednesday, which is likely to trigger volatility for the greenback. The RBI's rate-setting panel will be meeting on Thursday to discuss and formulate a response to the government for a failure to meet the inflation target. Its reply will focus on the reasons that led to inflation ..

Rupee falls 12 paise against dollar amid muted trend in domestic equities

The rupee depreciated 12 paise to 82.71 against the US dollar in morning trade on Wednesday amid a muted trend in domestic equities. Forex traders said the rupee opened on a flat note ahead of the US Federal Reserve's much-awaited monetary policy decision later in the day. At the interbank foreign exchange, the domestic unit opened at 82.64 against the dollar, then lost further ground to quote at 82.71, registering a loss of 12 paise over its previous close. In initial trade, the local unit also touched 82.62 against the American currency. On Tuesday, the rupee settled at 82.59 against the dollar. According to Sriram Iyer, Senior Research Analyst at Reliance Securities, on Wednesday, the rupee started on a flat note and Asian and emerging market peers began mixed ahead of the US Fed's monetary policy decision. With the Fed widely expected to deliver its fourth straight 75 basis points rate hike, the key will be hints from Fed Chair Jerome Powell on the path forward, Iyer ...

NITI wants infra projects lagging for decades completed by FY23-end

Shortlists 494 projects, including 279 roads and highways worth Rs 1.92 trillion, petroleum projects worth Rs 1.11 trillion, almost a trillion rupees worth of railway projects