Foreign Exchange Rates

Rupee's 40-currency real effective exchange rate (REER) - a measure of its competitiveness - shows the currency was overvalued by 7.21 per cent at the end of October, close to highest in 6 years

Elsewhere, Taiwan's tech-heavy stock benchmark sagged 2% and Hong Kong's Hang Seng lost 1%

That trend was unlikely to change anytime soon as analysts in an Aug. 1-6 poll have barely changed their forecasts from a poll in July

Rupee opened on a muted note and fell to an all-time low of 83.72 against the US dollar on Thursday, dragged down by the strength of the American currency in the overseas market and significant foreign fund outflows. Forex traders said the fall in the domestic unit came on the heels of a significant downturn in the Indian equity markets, sparked by the government's decision to hike the tax rate on capital gains. At the interbank foreign exchange market, the local unit was trading in a narrow range. It opened at an all-time low of 83.72 against the American currency, registering a fall of 1 paisa from its previous close. On Wednesday, the rupee depreciated 2 paise to hit its all-time closing low of 83.71 against the US dollar. The government's decision to hike the tax rate on capital gains dampened market sentiment, exerting immense pressure on the rupee and the equity market. "Post-budget day, the benchmark Indian equity indices, BSE Sensex and Nifty 50, dipped by approximately 0.

Zerodha Broking Ltd. warned its clients to close open positions and cautioned about liquidity drying up

Forex traders said a negative trend in domestic equities and the overall strength of the American currency in the overseas market weighed on investor sentiments

The rupee slipped 1 paisa to 83.15 against the US dollar in early trade on Thursday amid rising crude oil prices and withdrawal of foreign funds. Despite a weak American currency against major overseas rivals, negative sentiment in domestic equity markets kept the Indian currency under pressure, forex traders said. At the interbank foreign exchange, the domestic currency opened at 83.16 and inched up to 83.15 against the greenback in morning deals and traded at a loss of 1 paisa over its previous close. On Wednesday, the rupee settled 2 paise lower at 83.14 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.16 per cent lower at 103.04 on Thursday. Analysts said the dollar retreated after the US data released on Wednesday showed more than expected increase in retail sales, dashing financial market's hope of interest rate cut by the Federal Reserve. Brent crude futures, the global oil benchmark

The incident, starting around 2:30 p.m. New York time, involving "certain FIX/RASH order entry ports," Nasdaq said in an emailed statement that didn't elaborate on the cause

Rupee may not see any immediate impact: Market players

'We remain confident of meeting our external financing requirements comfortably," Das said

The RBI regularly intervenes in the foreign exchange markets and stepped up intervention in September

An IFSC Banking Unit or "IBU" is a bank permitted by the Reserve Bank of India to operate from an International Financial Services Centre (IFSC)

The CBIC is likely to soon introduce a system of publishing daily currency exchange rates on the integrated customs portal, replacing the existing system of notifying rates fortnightly. The move would help capture daily exchange rate fluctuations and help importers and exporters to precisely calculate customs duties based on daily exchange rate. Currently, Central Board of Indirect Taxes and Customs (CBIC) manually notifies exchange rates of 22 currencies every fortnight -- 1st and 3rd Thursday of a month -- based of rates obtained from the State Bank of India (SBI). The rate notified comes into effect from midnight of the following day. An official said the entire process would be automated, beginning with forwarding of exchange rate data by SBI to ICEGATE. The exchange rates received from SBI every day shall be adjusted to the nearest five paise and integrated with Indian Customs EDI System (ICES) and published on Indian Customs National Trade Portal (ICEGATE) by 6:00 pm. "In or

The rupee fell for the fourth day in a row on Thursday and depreciated by 12 paise to 82.77 (provisional) against the US dollar amid mixed global equity market cues and foreign fund outflows. Traders said positive sentiments in the domestic equity market and weaker dollar, however, resisted the decline in the Indian currency. At the interbank foreign exchange, the domestic unit opened lower at 82.77 against the dollar. It traded between 82.60 and 82.80 levels, and settled at 82.77 (provisional) against the American currency, registering a fall of 12 paise against its previous close. This is the fourth consecutive day of decline in the rupee. On Wednesday, the rupee settled at 82.65 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.25 per cent to 104.38. Global oil benchmark Brent crude futures rose 1.23 per cent to USD 74.60 per barrel. On the domestic equity market front, the 30-share BSE Sensex r

The value of the rupee declined from 63.33 against a dollar on December 31, 2014, to 79.41 on July 11, 2022, Finance Minister Nirmala Sitharaman said in a reply quoting RBI data.

RBI's recent measures to shore up rupee were a 'knee-jerk' reaction, said analysts. They said the country is sitting on a high forex reserve. But ever wondered what a forex reserve is? Let's find out

(Reuters) -A slight pullback in the dollar offered the euro some respite, allowing it to edge away from two-decade lows reached this week after surging energy prices fanned recession fears.

Rupee opened at 74.90 against the American dollar, and later witnessed an intra-day high of 74.88 and a low of 75.05 against the greenback

The Deutsche Bank Currency Volatility Index hit its lowest since February last year.

The currency has advanced more than 2% in the third quarter, outperforming the Indonesian rupiah