Page 15 - Us Dollar

Pound falls after BoE chief rules out extending help to stabilise markets

The pound sank against the dollar early on Wednesday after the Bank of England governor confirmed the bank won't extend an emergency debt-buying plan introduced last month to stabilise financial markets. Andrew Bailey said the programme will end on Friday as scheduled. The pound fell by almost 1 per cent to just below USD 1.10 after Bailey spoke, before rallying slightly. After the government's September mini-budget the currency hit a record low of USD 1.03. My message to the (pension) funds involved you've got three days left now. You have got to get this done, he said. Part of the essence of a financial stability intervention is that it is clearly temporary. The central bank stepped in after the British government on September 23 announced plans for 45 billion pounds (USD 50 billion) in tax cuts without saying how it would pay for them. The announcement spooked financial markets and sent the pound plunging to a record low against the dollar. The Bank of England intervened to pr

US dollar surges to new 24-year high versus yen; sterling rallies

The dollar climbed to a fresh 24-year peak versus the yen on Wednesday, holding above levels that prompted intervention by Japanese officials last month

Half of top 500 stocks trading below their 200-DMA, shows data

Analysts said that half of the BSE 500 firms trading below 200-DMA clearly indicates that market sentiment isn't strong and there is heightened selling pressure in the broader markets

Rupee tumbles 14 paise to close at 82.35 as US dollar strengthens

The rupee fell 14 paise to close at 82.35 (provisional) against the US dollar on Wednesday amid the strengthening of the American currency and sustained foreign fund outflows. Besides, risk aversion sentiment among investors weighed on the local unit. At the interbank foreign exchange market, the local currency opened at 82.32, then fell further to settle at 82.35 against the American currency, registering a decline of 14 paise over its previous close. During the session, the local unit witnessed an intra-day high of 82.15 and a low of 82.37 against the greenback. On Tuesday, the rupee rebounded from its all-time low to close 19 paise higher at 82.21 against the US dollar. "In line with the dollar index, the rupee marked another steady day. So far this week, the rupee has been trading in a narrow range and closing near 82.32," said Dilip Parmar, Research Analyst, HDFC Securities. Parmar said a rebound in the domestic equities and the central bank's intervention ahead of the cruci

Rupee depreciates 14 paise to 82.35 against US dollar in early trade

The rupee depreciated 14 paise to 82.35 against the US dollar in the morning trade on Wednesday amid the strengthening of the American currency and sustained foreign fund outflows. Moreover, risk aversion sentiment among investors and weak Asian and emerging market currencies weighed on the local unit. At the interbank foreign exchange, the domestic unit opened at 82.32 against the dollar, then lost further ground to 82.35, registering a loss of 14 paise over its previous close. In a highly volatile session, the local unit also touched 82.28 against the American currency in initial deals. On Tuesday, the rupee rebounded from its all-time low to close 19 paise higher at 82.21 against the US dollar. "Most Asian and emerging market peers were weaker this Wednesday and will weigh on sentiments," Sriram Iyer, Senior Research Analyst at Reliance Securities said, adding that investors will remain cautious ahead of the release of key domestic macro data. India's inflation, IIP and ...

RBI asks banks to set aside capital, provisions for unhedged FX exposure

Move comes amid sharp depreciation in rupee; says losses incurred by entities with such exposure could affect health of banking system

Gold prices on back foot as US dollar, yields firm on rate-hike bets

Spot gold eased 0.2% to $1,664.13 per ounce, as of 0927 GMT, after earlier touching its lowest since Oct. 3

RBI likely sold dollars, received forwards to stem rupee's drop: Report

The rupee has traded in a narrow range of about 8 paisa so far in the session

Rupee depreciates 1 paisa to 82.41 against US dollar in early trade

The rupee slipped 1 paisa to 82.41 against the US dollar in the morning trade on Tuesday amid the strengthening of the American currency and sustained foreign fund outflows. Moreover, a weak trend in domestic equities and risk aversion sentiment among investors weighed on the local unit. At the interbank foreign exchange, the domestic unit opened at 82.35 against the dollar, then pared the gains to 82.41, registering a loss of just 1 paisa over its previous close. In a highly volatile session, the local unit also touched 82.33 against the American currency in initial deals. On Monday, the rupee slipped 10 paise to finish at a fresh lifetime low of 82.40 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.12 per cent to 113.27. Brent crude futures, the global oil benchmark, fell 0.28 per cent to USD 95.92 per barrel. "RBI sold more than a billion dollars yesterday to protect against a fast depreciati

Dollar gains on rate-hike fears, yen flirts with intervention levels

The dollar loomed large over fragile financial markets, with worries about rising interest rates and geopolitical tensions, while the yen was testing levels that have prompted official intervention

Gold prices slip for 4th time as dollar stands tall on US rate hike bets

The dollar index hit a more than one-week peak, making gold more expensive for buyers holding other currencies

Rupee falls 4 paise to close at new low of 82.34 against US dollar

The rupee pared most of its initial losses and settled 4 paise lower at a fresh lifetime low of 82.34 (provisional) against the US dollar on Monday, weighed down by as risk-averse sentiment among investors. Moreover, a negative trend in domestic equities and a firm greenback overseas sapped investor appetite, forex traders said. At the interbank foreign exchange market, the local currency opened at 82.68, then fell further to an all-time intra-day low of 82.69. According to forex traders, the local unit pared initial losses on possible central bank intervention and finally settled for the day at an all-time low of 82.34 against the American currency, down 4 paise over its previous close. On Friday, the rupee had depreciated by 13 paise to close at 82.30. "The Indian rupee pared opening losses on possible central bank intervention and corporate inflows... lower crude oil prices also supported the rupee in today's session," said Dilip Parmar, Research Analyst, HDFC Securities. Howe

Rupee breaches 82 level vs dollar as Fed officials back rate hike view

RBI nudges banks to ease up on offshore FX positions

Dollar retreats as investors await US jobs data; euro, pound pares

The euro and the pound pared overnight losses and rose for the first time in three trading sessions, while the Japanese yen clawed back from another break through the key 145 level against the dollar

RBI sells dollars as rupee hits record low on US interest rate hike fears

The Reserve Bank of India likely sold dollars via state-run banks on Friday after the rupee slid below 82 to a record low against the dollar on concerns over the US Federal Reserve rate outlook

Credit Suisse offers to buy back debt securities worth 3 bn Swiss francs

Credit Suisse Group AG is offering to buy back debt securities for cash worth approximately 3 billion Swiss francs, just as the embattled lender tries to put finishing touches on a planned overhaul

Dollar wavers with ECB minutes and Friday's US jobs data in focus

Sterling gained 0.35% to $1.1359, and the dollar also slipped 0.5% against the Swiss franc to 0.9791 francs

US Dollar rebounds as investors heed hawkish reminder from New Zealand

The dollar index was last up 0.54% to 110.77, after tumbling 1.3% on Tuesday

Gold retreats as dollar index perks up ahead of US jobs data report

The dollar index edged 0.2% higher, after the unit shed 1.3% overnight to mark its biggest drop since March 2020

Dollar steadies as investors heed hawkish reminder from New Zealand

The dollar steadied on Wednesday after a sharp rate rise in New Zealand poured cold water over hopes for a pause or slowdown in the US Federal Reserve's intentions for aggressive hikes