Page 23 - Us Dollar

Dollar rebounds as Fed Chair Powell commits to fighting inflation

The dollar index gained after Federal Reserve Chair adopted a hawkish tone to battling inflation, but did not settle the debate on how large a rate increase is likely

Faster debt relief needed as more nations seek help, says IMF's Gopinath

More countries are likely to seek debt relief as a stronger dollar makes repayments tougher, says IMF chief

Rupee rises by 8 paise to 79.84 on weak dollar ahead of Fed chair speech

The rupee appreciated by 8 paise to close at 79.84 against the US dollar on Friday, supported by a weak dollar in the overseas markets and a positive trend in domestic equities. However, higher crude prices in the international markets restricted the rupee's gain, forex dealers said. At the interbank forex market, the local unit opened at 79.87 against the greenback. It witnessed an intra-day high of 79.81 and a low of 79.94 against the American currency during the session. It finally ended at 79.84 against the US dollar, up 8 paise from its previous close of 79.92. "Rupee continued to consolidate in a narrow range ahead of the Jackson Hole symposium. Dollar weakened against its major crosses after the GDP number released from the US came in line with expectation," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services. Market participants remained cautious as they waited for a speech by the Federal Reserve chairman. "The Fed Chairman's speech in Jackson

Dollar holds firm against euro, sterling as Jerome Powell speech day dawns

The dollar held onto recent gains against the euro and sterling on Friday ahead of Federal Reserve Chair Jerome Powell's widely-anticipated speech, which traders hope will offer clues on the U.S. cent

Rupee falls 7 paise to close at 79.93 against US dollar amid oil surge

The rupee declined by 7 paise to close at 79.93 (provisional) after moving in a narrow range against the US dollar on Thursday. At the interbank foreign exchange market, the domestic currency opened at 79.80 per dollar. It hovered in a range of 79.80 to 79.93 during the session. The domestic unit finally settled at 79.93, down 7 paise over its previous close of 79.86. "The Indian rupee stayed in a narrow range and underperformed among Asian currencies. China's stimulus to boost the economy supported regional peers while the local unit remained under pressure following high crude oil prices and risk-off moods at the domestic bourses," said Dilip Parmar, Research Analyst, HDFC Securities. Parmar further said that Spot USD/INR, in the near term, is expected to trade in the range of 79.60 to 80.10 ahead of monthly rebalancing tomorrow. Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, was down 0.50 per cent at 108.13. Brent crude

Euro bounces back to parity with the dollar as investor sentiment improves

The euro briefly rebounded back above parity with the dollar on Thursday as the US currency's recent rally ran out of steam

Dollar pauses for breath ahead of Jackson Hole symposium this week

The US dollar steadied just below recent peaks, as investors waited to hear from the Federal Reserve and pondered whether weak US data may slow the pace of rate hikes

Rupee worries force India's importers to hedge extra: An analysis

Foreign investors have withdrawn almost $25 bn from Indian equity and debt markets so far in 2022, as money rushes back into higher yielding dollars

Indian rupee at 4-week low; set to breach 80-level against USD, say traders

The partially convertible rupee fell 0.1% to 79.875, having dropped to its lowest level since July 27 at 79.9125.

Asia shares slip anew amid strong US dollar demand, rising interest rates

Asian shares got off to a rocky start on Monday while the dollar remained in demand amid concerns that most major central banks are committed to raising interest rates no matter the risks to growth

Wall Street pushes stocks down, dollar up on Fed hike fears; yields rise

The Dow Jones Industrial Average fell 0.86%, to 33,706.15, the S&P 500 lost 1.29%, to 4,228.37, and the Nasdaq Composite dropped about 2%, to 12,705.22

Oil prices down 1.5% for the week on recession jitters, strong US dollar

Brent crude futures settled at $96.72 a barrel, gaining 13 cents. U.S. West Texas Intermediate crude ended 27 cents higher at $90.77. Both benchmarks fell about 1.5% on the week

Asian market's dry spell leaves India's credit with worst streak in 13 yrs

No deals in excess of $100 million concluded in the week ending Aug 19, after just $453 million the week before

Rupee falls by 12 paise to 79.76 against US dollar in opening trade

The rupee depreciated 12 paise to 79.76 against the US dollar in opening trade on Friday, tracking the strength of the American currency in the overseas market. At the interbank foreign exchange, the rupee opened at 79.75 against the US dollar, then fell to 79.76, registering a decline of 12 paise over the last close. On Thursday, the rupee depreciated 19 paise to close at 79.64 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.13 per cent to 107.62. Meanwhile, global oil benchmark Brent crude futures fell 0.37 per cent to USD 96.23 per barrel. The rupee opened weaker on Friday after the dollar index reached a 1-month high following comments from US Federal Reserve officials over the quantum of rate hikes, said Sriram Iyer, Senior Research Analyst at Reliance Securities. Supports for the USD/INR spot pair are at 79.60 and 79.50 and resistances are at 79.80 and 79.90. A break above the resistances will push th

RBI steps in as rupee slides on corporate outflows; bond yields jump

Bond yields jump as traders lock in profits after speculative rally on Wednesday

RBI turns net seller of US currency in June; sells $3.719 bn: Data

Reserve Bank of India turned net seller of the US currency in June after it sold USD 3.719 billion on a net basis, the central bank data showed. In the reporting month, the central bank purchased USD 18.96 billion from the spot market and sold USD 22.679 billion, according to the RBI monthly bulletin for August 2022 released on Thursday. In June 2021, RBI was net buyer of the greenback after it purchased USD 18.633 billion on a net basis from the spot market. In May 2022, the central bank net bought USD 2.001 billion. It had purchased USD 10.143 billion and sold USD 8.142 billion during the month. During the fiscal 2022, the central bank had net purchased USD 17.312 billion. It had bought USD 113.991 billion and sold USD 96.679 billion in the spot market in FY22. In the forward dollar market, the outstanding net purchase at the end of June stood at USD 30.856 billion as compared to USD 49.191 billion in May, the data showed.

We expect rupee to trade in 79.25-79.75 per dollar range: BoB report

The Indian rupee is expected to trade in the 79.25-79.75 per US dollar range in the coming days due to easing crude oil prices and continued inflows by foreign investors, the Bank of Baroda said

Rupee falls 19 paise to close at 79.64 as Fed minutes prop dollar

The rupee depreciated 19 paise to close at 79.64 (provisional) against the US dollar on Thursday, following the strength of the American currency in the overseas market. At the interbank foreign exchange market, the local currency opened at 79.60 and moved in a range of 79.60 to 79.71 during the day. It finally ended at 79.64 against the greenback, down 19 paise over its previous close. On Wednesday, the rupee gained 29 paise to settle at 79.45 against the dollar. Forex traders said the US dollar index witnessed an upturn after the Federal Open Market Committee (FOMC) meeting minutes showed that though things are slowing in the US, the Fed is not done with the rate hikes. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.10 per cent to 106.68. The US central bank policymakers committed to raising rates as high as necessary to tame inflation, said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services. Somaiya .

Govt bonds, rupee strengthen as crude prices plunge on growth concerns

A decline in domestic headline retail inflation to a five-month low in July also bolstered the appetite for bonds

'High ATF prices, rupee depreciation may pose threat to carriers' recovery'

Elevated Aviation Turbine Fuel (ATF) prices and Rupee depreciation are likely to pose a serious threat to the recovery process for domestic carriers, credit ratings agency ICRA said on Wednesday. In India, ATF accounts for around 45 per cent of the operational cost of an airline. Besides, as much as 35-50 per cent of the airlines' operating expenses are US dollar driven, as per ICRA. An area of concern remains the ATF prices, which surged by around 77 per cent Y-o-Y in August, given the elevated crude oil prices due to geo-political issues arising from the Russian invasion of Ukraine, the ratings agency said. On an aggregate basis, it said a return to normalcy will lead to recovery in passenger load factors, which, in turn, will aid revenues; however, these two factors will continue to weigh on the domestic airlines'' earnings in FY23. This apart, the expected launch of Jet Airways and the entry of Akasa Air, are likely to intensify the competition for the domestic carriers. "ICR