Page 10 - Rupee Vs Dollar

Rupee declines 7 paise to 83.38 against US dollar in early trade today

The rupee depreciated 7 paise to 83.38 against the US dollar in early trade on Friday, weighed down by a negative trend in domestic equities and elevated crude oil prices. Forex traders said the strength of the American currency in the overseas market also dented investor sentiments. At the interbank foreign exchange, the rupee opened at 83.36 against the dollar and touched a low of 83.38 in the initial trade, registering a fall of 7 paise over its previous close. On Wednesday, the rupee closed flat at 83.31 against the US dollar. Stock, money, commodity, and derivative markets were closed on Thursday on account of Eid-Ul-Fitr. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 105.35, higher by 0.07 per cent. Brent crude futures, the global oil benchmark, rose 0.58 per cent to USD 90.26 per barrel. "Brent oil continued to remain in the higher side of the curve on Middle East jitters as Iran promised to retaliate for a .

Rupee appreciates 15 paise to 83.16 against US dollar in early trade

The rupee appreciated 15 paise to 83.16 against the US dollar in early trade on Wednesday, tracking its Asian peers amid a positive trend in domestic equities. Forex traders said investor sentiments got a boost as crude oil prices retreated from their elevated levels. At the interbank foreign exchange market, the local unit opened at 83.23 against the greenback. It later touched 83.16 in initial trade, registering a rise of 15 paise from its previous close. On Monday, the rupee settled on a flat note at 83.31 against the US dollar. Forex and money markets were closed on Tuesday on account of 'Gudhipadwa'. "The Indian rupee is expected to rise to 83.21 levels as the dollar remained sideways and Asian currencies rose this morning," said Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.14. Brent crude futures, the globa

Rupee rises 8 paise to 83.23 against US dollar in early trade today

The rupee appreciated 8 paise to 83.23 against the US dollar in early trade on Monday, supported by positive domestic equities and fresh foreign fund inflows. Forex traders said investor sentiments got a boost as crude oil prices retreated from their elevated levels, while the strength of the American currency in the overseas market weighed on the local unit and restricted the up move. At the interbank foreign exchange market, the local unit opened at 83.27 against the greenback. It later touched 83.23 in initial trade, higher 8 paise from its previous close. On Friday, the rupee appreciated 8 paise to close at 83.31 against the US dollar as the Reserve Bank of India kept the benchmark interest rate unchanged at 6.5 per cent for the seventh time in a row. The rupee is expected to trade in a range as the Reserve Bank continues to protect it from falling further while inflows may bring it to 83.20, Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors

Rupee rises 9 paise to 83.30 against US dollar post RBI policy decision

The rupee appreciated 9 paise to close at 83.30 (provisional) against the US dollar as the Reserve Bank of India on Friday kept the benchmark interest rate unchanged at 6.5 per cent for the seventh time in a row. However, a strong US dollar against major rivals overseas and elevated crude oil prices capped sharp gains for the local unit, forex traders said. At the interbank foreign exchange market, the local unit opened at 83.44 against the greenback. The unit hit an intra-day high of 83.26 and a low of 83.45. The local unit finally settled at 83.30 (provisional) against the dollar, 9 paise higher from its previous close. On Thursday, the rupee recovered 14 paise to close at 83.39 against the US dollar. The rupee gained as the RBI's monetary policy remained the focus. The central bank kept CPI and GDP projections for FY25 unchanged at 4.5 per cent and 7 per cent, respectively, said Anuj Choudhary Research Analyst, Sharekhan by BNP Paribas. "After a detailed assessment of the evol

Rupee to rise modestly against dollar in next three months, shows poll

That stability has been largely driven by the RBI's continued intervention in FX markets. Its foreign exchange reserves recently hit a record high of $642.63 billion

Foreign exchange derivatives market in a fix before new RBI rules

Average daily turnover may decline further; Rupee slips to fresh low vs Dollar

RBI's likely intervention in forex market helps rupee to avoid a new low

According to RBI data, India's foreign exchange reserves were at $642.49 billion as of March 15, 2024

Rupee's decline to record low triggers biggest selloff in Indian bonds

The selloff came on the day when the rupee fell by the most in six months

Rupee trades in narrow range against US dollar in early trade today

On Tuesday, the rupee recovered from all-time low levels and appreciated 32 paise to close at 83.29 against the US dollar

Rupee recovers from all-time lows; rises 29 paise to 83.32 per dollar

The rupee recovered from its all-time low level and appreciated 29 paise to 83.32 against the US dollar in early trade on Tuesday. At the interbank foreign exchange, the domestic currency opened at 83.33 and it gained ground and touched 83.32 against the greenback in initial deals, registering a gain of 29 paise from its previous close. On Friday, the rupee depreciated 48 paise to settle at an all-time low of 83.61 against the American currency. Forex, equity markets were closed on Monday on account of Holi. Market analysts said, for the domestic unit, record forex reserves provide a cushion, enabling the Reserve Bank to mitigate the rupee's downside. India's forex reserves increased by USD 6.396 billion to USD 642.492 billion for the week ended March 15, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had risen by USD 10.47 billion to USD 636.095 billion. "With RBI accumulating reserves they would endeavour to protect the rupee to some exte

Rupee expected to regain its lost ground against Dollar in April: BS Poll

India's govt bond inclusion into JP Morgan index to boost $ inflows, say economists

Rupee falls 35 paise to hit all-time low of 83.48 against US dollar

The rupee depreciated 35 paise to settle at an all-time low of 83.48 against the American currency on Friday, tracking a surging greenback against major crosses in the overseas markets and weak Asian peers. Forex traders said foreign fund outflows also weighed on the local unit. At the interbank foreign exchange market, the local unit opened weak at 83.28 against the greenback, and finally settled at a record low of 83.48 (provisional), registering a fall of 35 paise from the previous close of 83.13. In intraday trade, the rupee touched a low of 83.52 against the American currency. The rupee had earlier recorded its lowest closing level of 83.40 on December 13, 2023. According to Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas, the US dollar strengthened on weak euro and pound. Euro declined as the Swiss National Bank (SNB) surprised the markets by cutting interest rates by 25 bps to 1.5 per cent, which raised the odds of a rate cut by the European Central Bank (ECB) i

Rupee rebounds 14 paise to 83.05 against dollar as US Fed indicates cuts

The rupee rebounded 14 paise to 83.05 against the US currency in early trade on Thursday as the dollar retreated from high levels in global markets after the US Federal Reserve indicated three rate cuts this year. At the interbank foreign exchange market, the rupee opened strong at 83.07 against the US dollar compared to the previous close of 83.19. The local unit moved in a range of 83.08 to 83.04 in early deals. The rupee traded at 83.05 to a dollar at 9.25 AM, showing gains of 14 paise over the last close. It settled at a two-month low of 83.19 on Wednesday ahead of the announcement of US Fed policy amid a strong American currency and elevated crude oil prices. The Indian currency gained strength as the US Federal Reserve indicated three rate cuts this year despite sticky inflation. The US Fed kept its interest rates unchanged in the policy meeting on Wednesday. The US dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.20 per ce

Rupee hits 1-month low ahead of US Federal Reserve meeting outcome

The rupee settled at Rs 83.04 per Dollar on Tuesday, against the previous close of Rs 82.90 per Dollar. The last time the rupee touched Rs 83 per Dollar was on February 16

Rupee falls 5 paise to 82.95 against US dollar on back of firm crude prices

The rupee declined 5 paise at 82.95 against the US dollar on Tuesday due to firm crude oil prices and foreign fund outflows. At the interbank foreign exchange market, the rupee opened at 82.94 to a dollar, down 4 paise over the previous close of 82.90. The local currency moved in a tight range of 82.93 to 82.95 to a dollar in early deals. The rupee traded at 82.95, down 5 paise, against the US dollar at 9.15 am. A stronger US dollar and firm bond yields ahead of the US Fed interest rate decision also weighed on the local unit, forex dealers said. The US dollar index, which measures the greenback's strength against a basket of six currencies gained 0.20 per cent to 103.64. Brent crude, the global crude oil benchmark, also stayed above USD 86 per barrel to trade at around four-month high levels. Losses in local stocks also weighed on the rupee. Benchmark BSE Sensex declined by 398.79 points or 0.55 per cent to 72,349.63 while broader Nifty dropped 120.10 points or 0.54 per cent to

Rupee appreciates 2 paise to 82.84 against US dollar in early trade

The rupee appreciated by 2 paise to trade at 82.84 against the US dollar in the opening session on Monday following foreign fund inflows. An uptick in crude oil prices and listless trade in domestic stocks capped rupee gains in opening trade, forex dealers said. The local currency moved in a narrow range of 82.83 to 82.84 against the dollar in early deals. The rupee closed at 82.86 on Friday. The US dollar index, which gauges the greenback's strength against a basket of six currencies, was trading flat at 103.43. Crude oil prices firmed up in early Asian trade. Brent crude, the global oil benchmark, gained 0.35 per cent to trade at USD 85.64 per barrel. Oil for Indian basket was up at USD 84.50 per barrel. Domestic equity markets were trading almost flat in morning session on Monday. Benchmark Sensex gained around 0.1 per cent to trade at 72,718.72 while Nifty edged up 0.06 per cent to 22,036.20. Foreign investors turned net buyers in Indian stocks on Friday as they purchased sha

Rupee depreciates 5 paise to 82.86 against US dollar in early trade

The rupee depreciated 5 paise to 82.86 against the US dollar in early trade on Thursday, tracking a negative trend in domestic equities. Forex traders said the strength of the American currency, foreign fund outflows, and elevated crude oil prices in the international market dented investors' sentiments. At the interbank foreign exchange, the rupee opened at 82.84 against the dollar and touched an early low of 82.86 in initial trade, registering a fall of 5 paise over its previous close. On Wednesday, the rupee had settled at 82.81 against the US dollar. "Rupee weakened on Wednesday as the sentiment was dampened by a sell-off in equities. Nevertheless, rupee is still the best performing Asian currency in 2024 so far, having strengthened 0.4 per cent against the US dollar," IFA Global Research Academy said in a research note. Rupee is likely to trade in the 82.75-82.90 range with sideways price action, the note added. Meanwhile, the dollar index, which gauges the greenback's stren

Rupee depreciates 5 paise to 82.85 against US dollar in early trade

The rupee depreciated 5 paise to 82.85 against the US dollar in early trade on Wednesday, as the strength of the American currency in the international market and elevated crude oil prices dented investors' sentiment. Forex traders said the rupee is expected to trade with a slight negative bias on recovery in the greenback and concerns over elevated crude oil prices. However, a positive tone in domestic markets may support the rupee at lower levels. At the interbank foreign exchange, the rupee opened at 82.82 against the dollar and touched an early low of 82.85 against the greenback. On Tuesday, the rupee consolidated in a narrow range and settled for the day 5 paise lower at 82.80 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 102.88, lower 0.07 per cent. The US dollar held steady as traders weighed hotter-than-expected US CPI inflation which came at 3.2 per cent against last month's figures of

As Rupee appreciates, importers take advantage of unexpected up move

The rupee has been in a narrow 3 paisa range, having reached a more than six-month high on Monday

Rupee climbs over six-month high on inflows, stronger Asian peers

The rupee was also helped by strength in its Asian peers amid a drop in US Treasury yields. The Korean won climbed 0.8 per cent and the Indonesian rupiah advanced 0.4 per cent