A global share rally continued in early Asian trading on Thursday and the safe haven dollar was on the back foot
The safe-haven dollar languished near an almost one-week low against its major peers as investors adopted a more optimistic stance about the global economic outlook
Lower crude prices in the international market and a subdued dollar overseas also supported the local unit, forex dealers said
The rupee appreciated 11 paise to 75.48 against the US dollar in opening trade on Wednesday, tracking a positive trend in domestic equities. However, rising crude prices in the international market and continued foreign fund outflows restricted the local unit, traders said. At the interbank foreign exchange, the rupee opened slightly strong at 75.56 and gained further ground to quote 75.48 against the American dollar in early deals, a rise of 11 paise from the last close. In the previous session, the rupee had settled at 75.59 against the greenback. On the domestic equity market front, the 30-share Sensex was trading 366.66 points or 0.65 per cent higher at 56,685.67, while the broader NSE Nifty advanced 112.50 points or 0.67 per cent to 16,883.35. Global oil benchmark Brent crude futures rose 0.24 per cent to USD 74.16 per barrel. Foreign institutional investors remained net sellers in the capital market on Tuesday, as they offloaded shares worth Rs 1,209.82 crore, as per exchan
Oil prices rose again as the dollar slipped, with risk appetite returning as some governments resist imposing lockdowns to curb the spread of the Omicro
The dollar edged down again in early Asia, starting a third successive session under pressure as investors favoured riskier currencies and asset classes
Major currencies held within well-worn trading ranges, however, as a surge in cases of the Omicron coronavirus variant forced countries to reimpose restrictions
At the interbank forex market, the domestic unit opened strong at 75.74 against the greenback and witnessed an intra-day high of 75.41 and a low of 75.74 during the day's trade
Major currencies held within well-worn trading ranges
HONG KONG (Reuters) - The dollar softened a little on Tuesday in the wake of improving market appetite for risk assets and currencies, extending its overnight losses following a blow to Democratic spending plans in Washington.
The rupee appreciated 17 paise to 75.73 against the US dollar in the opening session on Tuesday, tracking heavy buying in domestic equities
The currency declined 2.2% this quarter as global funds pulled $4 billion of capital out of the country's stock market, the most among regional markets where data is available.
The dollar hovered below recent highs on Tuesday having lost ground overnight after a blow to Democratic spending plans in Washington
With last week's slew of major central bank meetings out of the way, investors turned their focus to the rapid spread of the variant
The US dollar hovered near the highest since July of last year against major peers after a Federal Reserve official signaled a first pandemic-era interest rate hike could come as early as March
The dollar rose on Friday as traders retreated from riskier currencies amid talk of interest rate hikes by central bankers and concerns about the spread of Omicron cases
After a turbulent week, the dollar index was little changed on the day
The market remains volatile, and the devaluation is already impacting Afghans
The dollar remained under pressure on Friday, a day after the Bank of England and European Central Bank adopted more hawkish stances than markets had expected
Asian stock markets and the US dollar struggled for traction on Friday after a rush of central bank meetings underlined the growing threat posed by a spike in global inflation