Page 8 - Rupee

Rupee marks biggest monthly losing streak since 1985, braces for Fed move

Oil importers' dollar purchases, breach of technical levels drag rupee lower

Parliamentary panel plans to discuss effect of rupee depreciation on trade

A parliamentary panel on Monday decided to discuss the implications of rupee's depreciation on trade, despite opposition from its BJP members, sources said. The Parliamentary Standing Committee on Commerce, chaired by senior Congress leader Abhishek Manu Singhvi, met for the first time on Monday after reconstitution and deliberated upon the subjects need to be taken up for discussion, they said. During the meeting, Singhvi proposed that the implications of rupee's depreciation on trade be discussed. His proposal was strongly opposed by BJP MP Nishikant Dubey, a panel member, who said the depreciation was temporary and the panel should discuss subjects such as balance of trade, which have long-term implications. Dubey was supported by several other BJP MPs like Raju Bista, Rajkumar Chahar and Deepak Prakash. Almost all opposition MPs were in favour of taking up the matter, saying it was an important subject which needed wide discussions and studies. The panel is likely to call tra

Rupee pares initial gains, falls 31 paise to close at 82.78 against dollar

The rupee pared its initial gains and settled 31 paise lower at 82.78 (provisional) against the US dollar on Monday, tracking the strength of the American currency in the overseas market. At the interbank foreign exchange market, the local unit opened at 82.35 and witnessed a high of 82.32 and a low of 82.80. It finally settled at 82.78 against the American currency, registering a fall of 31 paise over its last close of 82.47. The Indian rupee depreciated on Monday amid strength in the US dollar. However, positive domestic equities and weak crude oil prices cushioned the downside, said Anuj Choudhary - Research Analyst at Sharekhan by BNP Paribas. Moreover, inflows by foreign investors supported the rupee at lower levels. "We expect the rupee to trade with a negative bias amid strong US dollar amid increasing odds of an aggressive rate hike by the Fed on Wednesday. Some recovery in crude oil prices may also weigh on Rupee," Choudhary added. Traders may remain cautious ahead of ..

Debate over Lakshmi-Ganesh on rupee: Can govt change look of banknotes?

In the case of coins, RBI's role is restricted only to the distribution of the coins

Sensex climbs 212 points amid mixed global cues; Tata Steel rises 3%

A strengthening rupee further bolstered sentiment, even as relentless foreign capital outflows restricted the gains, traders said.

Rupee, bonds gain on hopes of Federal Reserve slowing rate hikes

At 3:30 pm IST on Thursday, the US dollar index was at 110.09 as against 112.02 at the same time on Tuesday

Political currency or divine help?

Economic debates should be informed. Changing the currency notes or printing images of Lord Ganesh and Goddess Lakshmi on them will not help

Indian importers should use rupee's recovery to increase hedges: Analysts

The rupee was up at 82.3250 per US dollar, compared with 82.7250 in the previous session and the record low of 83.29 reached last week

The overvalued rupee: Managing exchange rate volatility and forex reserves

Since the 1950s, a cocktail of partisan domestic interests has resulted in the Reserve Bank of India and the Indian government favouring an overvalued rupee

Rupee trade with few nations may start, internationalisation will take time

Negotiations are on with Russia, Cuba and Sudan among others to do so. Officials are hopeful that Saudi Arabia, UAE and Luxembourg would also come on board

Rupee trade with few nations may start, internationalisation will take time

Rupee trade with few nations may start, internationalisation will take time

Top Headlines: Rishi Sunak to be UK's next PM, Samvat 2079 stocks & more

Rishi Sunak is set to become Britain's next prime minister as his rivals quit the race, which analysts said, relieved some of the nervousness around the outlook for the UK economy

Rupee weakens nearly 10% by end of Samvat 2078 on global pressures

A weakening bias in the rupee continued in October with foreign portfolio investment outflows, pushing it above 82 levels

Rupee 4 paise higher over its previous close, settles at 82.75 against USD

The rupee pared its initial losses and settled 4 paise higher at 82.75 (provisional) against the US dollar on Friday, tracking a positive trend in domestic equities. At the interbank foreign exchange market, the local currency opened at 82.89 and witnessed a high of 82.59 and a low of 82.91. It finally settled at 82.75 against the American currency, registering a rise of 4 paise over its previous close. On Thursday, the rupee had rebounded from its lifetime low to close 21 paise higher at 82.79. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.47 per cent to 113.41. Global oil benchmark Brent crude futures fell 0.11 per cent to USD 92.28 per barrel. On the domestic equity market front, the 30-share BSE Sensex rose 104.25 points or 0.18 per cent to end at 59,307.15, while the broader NSE Nifty advanced 12.35 points or 0.07 per cent to 17,576.30. Foreign Institutional Investors (FIIs) were net buyers in the capital m

RBI intervenes to claw rupee back from fresh intraday low vs dollar

Central bank may have sold around $1 billion in Fx market on Thursday

Rupee declines 0.8%, closes at fresh all-time low of 83 vs US dollar

Analysts say RBI is allowing the depreciation amid wider CAD and higher US interest rates

Rupee plunges 61 paise to dip below 83-mark for first time against dollar

Rising crude prices in the international markets and risk-averse sentiment among investors weighed on the local currency, traders said

Sensex gains 147 pts; Nifty holds 17,500; Rupee hits record low of 83/$

CLOSING BELL: HDFC, Nestle India, ITC, RIL, Axis Bank, and Ultratech Cement were the top gainers

Rupee appreciates 6 paise to 82.34 against US dollar in early trade

The rupee appreciated 6 paise to 82.34 against the US dollar in early trade on Wednesday as a firm trend in domestic equities strengthened investor sentiment. However, persistent foreign capital outflows capped the gains of the local unit, forex traders said. At the interbank foreign exchange, the domestic unit opened strong at 82.32 against the dollar, then lost some ground to quote at 82.34, a gain of 6 paise over its previous close. In the previous session on Tuesday, the rupee slipped 10 paise to end at 82.40 against the dollar The dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.06 per cent to 112.06. Brent crude futures, the global oil benchmark, rose 0.59 per cent to USD 90.56 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 258.72 points or 0.44 per cent higher at 59,219.32. Similarly, the broader NSE Nifty rose 69.30 points or 0.40 per cent to 17,556.25. Foreign Institutional Investors (FIIs)

RBI's currency intervention ends up hurting rupee carry trade: Analysts

The Reserve Bank of India's currency intervention is making the rupee less attractive for carry traders, analysts said.