Page 6 - Forex Market

Chinese currency weakens 260 pips to 6.7246 against dollar in early trade

The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day

RBI fighting on several fronts to slow rupee's decline to fresh records

The rupee closed down 0.3% to 78.97 a dollar on Wednesday, extending this year's losses to 5.9%. RBI's stated stance is that it intervenes to curb currency volatility

Rupee slips by 1 paisa, settles at all-time low of 78.33 against US dollar

During the day, the local unit witnessed an intra-day high of 78.19 and a low of 78.35 against the American currency.

Fall in onshore forward premiums could push Indian rupee even lower

On Wednesday, the rupee touched a record low of 78.39 against the dollar despite a sharp fall in global crude oil prices, pushing forward premiums down

Rupee rises 5 paise to 78.05 against dollar amid foreign capital outflow

At the interbank forex market, the rupee opened strong at 78.03 against the greenback and witnessed an intra-day high of 78.02 and a low of 78.10

Rupee slides 11 paise against US dollar, breaches 78-mark for first time

The local unit finally settled at its all-time low of 78.04, down 11 paise over its previous close of 77.93

Dollar at two-decade high against six major peers, yen tumbles to 1998 lows

A sell-off across markets saw European stocks fall for a fifth straight session, while Bitcoin tumbled 9% to 18-month lows around $24,000

Foreign exchange reserves down by $306 mn at $601.057 bn, show RBI reports

After rising for two consecutive weeks, the country's foreign exchange reserves declined by $306 million to $601.057 billion in the week ended June 3, according to RBI data.

Traders brace for euro's decisive moment at ECB's policy meeting

A decidedly hawkish pivot could help convince bears that policy makers are determined to tighten financial conditions despite the headwinds

Rupee recovers from record low, spurts 20 paise to 77.51 per US dollar

The rupee on Wednesday recovered from its record low to close 20 paise higher at 77.51 (provisional) against the American currency. At the interbank forex market, the rupee opened at 77.58 against the greenback and moved in a range of 77.51 to 77.62 in the day's trade. The rupee finally ended at 77.51, higher by 20 paise over its previous close. On Tuesday, the rupee had declined by 17 paise to close at its all-time low of 77.71 against the US currency as surging US bond yields dampened the appeal of riskier assets. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.15 per cent to 101.90. Brent crude futures, the global oil benchmark, surged 1.84 per cent to USD 117.73 per barrel. "Rupee continued to trade in a narrow range and volatility remained low despite marginal weakness in domestic and global equities," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services. On the domestic front, GDP and fiscal ...

Rupee inches 2 paise up to 77.59 against USD on positive domestic equities

Forex traders said the rupee consolidated in a narrow range as elevated crude oil prices, fiscal deficit concerns and persistent FII outflows weighed on the local unit.

Rupee hits all-time low; foreign exchange reserves below $600 billion

Double-digit BoP deficit seen in FY23, says Standard Chartered

Rupee weakens against US dollar in early trade, falls 38 paise to 76.73/$

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.13 per cent lower at 103.61

Forex reserves jump by $2.76 bn to $632.95 bn: RBI data

In the previous reporting week, the overall reserves had declined by USD 1.763 billion to USD 630.19 billion

Euro marches higher on news of Russia pullback near Ukraine; yen struggles

After the news of Russian troops near Ukraine returning back to their bases, Euro marches higher on Tuesday, almost wiping out Monday losses, while Yen still struggles.

Revolut buys money transfer company Arvog Forex for undisclosed sum

The acquisition will strengthen Revolut's foundation in India and accelerate its plans to offer its remittance service and forex services to Indian customers

Dollar declines for second day running as FX markets change course

After falling nearly 5% in January, world equities started February slightly firmer and currency markets have also changed course

China's regulators tighten scrutiny of forex dealers, say sources

The moves follow recent efforts at curtailing financial risks that include dampening commodity price rises, banning cryptocurrency transactions and restricting property speculation

Traders, economists see early taper warning signs to markets from RBI

The central bank is increasingly shifting its forex intervention to the forwards market to keep from injecting rupee liquidity, according to analysts.

Forex reserves rise by $1 billion to record high of $610 billion

Gold reserves climbed $76 million to $36.372 billion in the reporting week.