Dollar Exporters

Amid muted equities trend, Rupee opens flat against dollar in early trade

The rupee opened on a flat note against the US dollar in the morning session on Thursday, amid a muted trend in domestic equities. Forex traders said the rupee is trading in a narrow range as rising crude oil prices, strong American currency, and sustained foreign fund outflows dented sentiments. At the interbank foreign exchange, the rupee opened at 83.13 against the dollar and touched an initial high of 83.11 and an early low of 83.14 against the greenback. On Wednesday, the rupee had settled at 83.12 against the US dollar. "Against the given odds favouring the rupee, challenges persist primarily due to the strengthening US Dollar, geopolitical tensions, and the ongoing Red Sea issue," CR Forex Advisors MD Amit Pabari said. Additionally, India's liquidity deficit has widened to Rs 3.34 trillion (USD 40.18 billion) as of January, limiting the Reserve Bank of India from allowing the rupee to appreciate towards its fair value. Despite these obstacles, the overall outlook suggests

Rupee depriciates 1 paisa to 83.15 against US dollar in early trade

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

Rupee falls 4 paise to 83.05 against US dollar; brent crude futures surge

The rupee breached its seven-day gaining streak and depreciated 4 paise to 83.05 against the US dollar in early trade on Friday as foreign investors rushed to withdraw funds amid a sharp rise in crude oil prices. Despite a weak American currency and surging equity markets, overall sentiment was dented after the US data showed inflation increased more than expected in December, dousing hopes of an interest rate cut by the Federal Reserve in the near future, according to forex analysts. They said investors will also keep a close watch on the domestic inflation numbers to be released later in the day. At the interbank foreign exchange, the domestic currency opened weak at 83.08 and lost further ground to touch 83.10 against the greenback. The unit later traded at 83.05 against the dollar, registering a loss of 4 paise from its previous close. The domestic currency settled 2 paise higher at 83.01 on Thursday. This was the seventh straight session of rise for the local unit, during whic

Dollar flat after mixed US data, on pace for best weekly gain since July

For the week, the dollar gained 1.1%, on pace for its best weekly rise since mid-July

Emerging economies pushing to end dollar's dominance. What's the option?

Business has vanished at Kingsley Odafe's clothing shop in Nigeria's capital, forcing him to lay off three employees. One culprit for his troubles stands out: The US dollar's strength against the Nigerian currency, the naira, has pushed the price of garments and other foreign goods beyond the reach of local consumers. A bag of imported clothes costs three times what it did two years ago. The price these days is running around 350,000 naira, or USD 450. There are no sales anymore because people have to eat first before thinking of buying clothes," Odafe said. Across the developing world, many countries are fed up with America's dominance of the global financial system especially the power of the dollar. They will air their grievances next week as the BRICS bloc of Brazil, Russia, India, China and South Africa meet with other emerging market countries in Johannesburg, South Africa. But griping about King Dollar is easier than actually deposing the de facto world currency. The dol

Dollar rally pauses after strong run, rivals seek tentative recovery

LONDON (Reuters) - The dollar eased for a third straight day on Tuesday as investors cautiously trimmed bets on a rally which sent the greenback to a two-decade high last week.

More action needed to help exporters

Its fall might help, for now, exporters whose import intensity is not high