Page 3 - Forex Market

Rupee falls 12 paise to 82.63 against US dollar on strong greenback

The rupee depreciated 12 paise to 82.63 against the US dollar in early trade on Friday as a lacklustre trend in domestic equities and a strong greenback in the overseas markets dented investor sentiments. Besides, sustained foreign fund outflows and elevated crude oil prices in the international market weighed on the domestic unit, forex traders said. At the interbank foreign exchange, the domestic unit opened weak at 82.61 against the dollar, then fell further in early deals to 82.63, registering a decline of 12 paise over its last close. On Thursday, the rupee appreciated 3 paise to close at 82.51 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.15 per cent to 103.38. Brent crude futures, the global oil benchmark, declined 0.19 per cent to USD 84.34 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 183.51 points or 0.30 per cent lower at 60,622.71 points. The broader

Rupee gains 10 paise to 82.66 against US dollar on weaker greenback

The rupee appreciated 10 paise to 82.66 against the US dollar in early trade on Tuesday on the back of a positive trend in domestic equities and relatively weaker greenback. However, foreign capital outflows restricted the gain in the domestic unit, forex traders said. At the interbank foreign exchange, the domestic unit opened strong at 82.68 against the dollar, then gained further ground to 82.66, a rise of 10 paise over its last close. In early deals, it was moving in a tight range of 82.69-82.65. On Monday, the rupee fell 68 paise to close at a one-month low of 82.76 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.15 per cent to 103.46. Brent crude futures, the global oil benchmark, advanced 0.98 per cent to USD 81.78 per barrel. This week, the key trigger for the markets is likely to be the decision of the RBI's Monetary Policy Committee on interest rate that will be announced on ...

Rupee falls 10 paise to 81.69 against US dollar amid FPI outflows

The rupee depreciated 10 paise to 81.69 against the US dollar in early trade on Monday, weighed down by significant foreign fund outflows. At the interbank foreign exchange, the domestic unit opened weak at 81.69 against the dollar, registering a decline of 10 paise over its last close. In the previous session on Friday, the rupee settled at 81.59 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.01 per cent to 101.92. Brent crude futures, the global oil benchmark, declined 0.17 per cent to USD 86.51 per barrel. The focus on the Union Budget and the US Federal Reserve's policy decision will dictate the course for the local unit on Monday, traders said. "Asian and emerging market peers have started with gains and could aid investor sentiments. However, demand from importers and the Reserve Bank of India's presence could cap gains," said Sriram Iyer, Senior Research Analyst at Reliance ...

State Bank of Pakistan's foreign exchange reserves fall by $923 mn

The State Bank of Pakistan (SBP) said its foreign exchange reserves had decreased by $923 million last week

RBI bought net $4.36 billion in spot forex market in November, shows data

The RBI said it purchased $22.28 billion and sold $17.92 billion in the spot market

Rupee weakens amid thin volumes on FII outflow, greenback rebound

Trade volumes were thin as US markets were closed for Martin Luther King Day

Rupee registers biggest weekly gain against US dollar in two months

Hope of reduced Fed rate hikes, lack of RBI dollar buys drive rupee gains

Rupee continues winning streak, gains 1.5% in 3 days on foreign flows

Reduced dollar demand from oil firms, lack of RBI dollar buys prop up rupee

Rupee gains nearly 100 paise in two days to below 82 against dollar

Overseas flows, lack of RBI dollar buys behind best rupee showing in 2 months

Forex reserves up by $44 mn to $562.85 bn on rise in RBI gold reserves

Foreign currency assets declined by $302 mn to $498.19 bn in week ended Dec 30

India, Bangladesh discuss trade settlement in rupee, free trade agreement

India-Bangladesh: Other issues that were discussed were the removal of non-tariff barriers and the re-opening of border haats

Fixed denominations vs token system: Why digital cash needs to feel real

If the payment market is cornered by a few powerful private-sector platforms, they may impose hidden charges and fees

ESMA deadlock: European regulator's interference unfortunate, says RBI DG

"Potential disruption to the forex markets can be serious"

Retail e-rupee pilot begins tomorrow: Here's what you can expect from it

The transactions using the retail CBDC can be both person-to-person as well as person-to-merchant, and payments can be made using QR codes shown at merchant locations

Rupee advances 16 paise to 81.54 against US dollar in early trade

The rupee appreciated 16 paise to 81.54 against the US dollar in early trade on Friday on broad dollar weakness and in line with its Asian peers. At the interbank foreign exchange, the domestic unit opened at 81.69 against the dollar, then gained ground to touch 81.54, registering a rise of 16 paise over its previous close. On Thursday, the rupee appreciated by 23 paise to close at 81.70 against the US dollar. Forex traders said the American currency has retreated from its elevated levels post Federal Open Market Committee (FOMC) minutes. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.23 per cent to 105.82. Moreover, steady crude oil price is also aiding investor sentiments. "Brent is steady around USD 85 per barrel after Thursday's drop which came on reports that the price caps proposed for Russian crude were too high and above the current levels," IFA Global Research Academy said in a note. Brent crude futures, the global oi

Rupee sheds 0.2% to dollar as Covid worries trigger slump in yuan

Talk of persistent rate hikes by US Fed officials also drags rupee lower

Rupee depreciates 12 paise to 81.86 against US dollar in early trade

The rupee depreciated 12 paise to 81.86 against the US dollar in early trade on Monday, tracking the strength of the American currency in the overseas market and a muted trend in domestic equities. At the interbank foreign exchange, the domestic unit opened at 81.84 against the dollar, then lost ground to quote at 81.86, registering a loss of 12 paise over its previous close. On Friday, the rupee depreciated by 10 paise to close at 81.74 against the US currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.25 per cent to 107.19. The rupee started this Monday morning on a weaker note as the dollar continued to strengthen amid hawkish Fed rhetoric, Sriram Iyer, Senior Research Analyst at Reliance Securities, said, adding that the key trigger for the markets will be the US central bank's latest meeting. Weaker crude oil prices could cap losses, but Asian and emerging market peers were weak this Monday morning and wi

RBI sold net $10.36 bn in spot foreign exchange market in Sept: Bulletin

The RBI said it bought $23.27 billion and sold $33.62 billion in the spot market

Rupee depreciates 66 paise to 81.57 against US dollar in early trade

The rupee depreciated 66 paise to 81.57 against the US dollar in early trade on Wednesday, tracking the strength of the American currency in the overseas market and a muted trend in domestic equities. At the interbank foreign exchange, the domestic unit opened at 81.41 against the dollar, then lost ground to quote at 81.57, registering a loss of 66 paise over its previous close. On Tuesday, the rupee appreciated 37 paise to close at 80.91 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.17 per cent to 106.58. Brent crude futures, the global oil benchmark, fell 0.36 per cent to USD 93.52 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 72.09 points or 0.12 per cent down at 61,800.90, and the broader NSE Nifty was trading lower by 24.60 points or 0.13 per cent to 18,378.80. Foreign Institutional Investors (FIIs) were net sellers in capital markets as they offloaded

India's forex reserves down again; fall $1.1 billion to $529.99 billion

The latest decline in the reserves was primarily on account of a fall in the RBI's gold reserves, which fell by $705 million to 37.06 billion