Page 11 - Rupee Vs Dollar

Rupee turns flat at 82.90 against US dollar, resists downward pressure

The rupee stayed flat at 82.90 against the US dollar in early trade on Wednesday, resisting downward pressure from a stronger American currency and volatile crude oil prices in the overseas markets. The local unit was also dragged down by the negative sentiment in the equity markets, however, it found support due to some fresh inflow of foreign funds, forex traders said. At the interbank foreign exchange, the domestic currency opened at the previous day's closing level of 82.90 and oscillated between 82.89 and 82.91 against the greenback. On Tuesday, the rupee settled flat at 82.90 against the US dollar. Gaurang Somaiya, forex and bullion analyst, Motilal Oswal Financial Services, said the rupee traded in a narrow range and volatility remained low despite weakness in the dollar against its major crosses. The restricted movement in the Indian currency was attributed to the services PMI (Purchasing Managers' Index) data in the US, which showed the sector's growth in February fell sh

Global index inclusion inflows help Indian Rupee buck EM currency losses

India's currency is likely to appreciate to 81 per dollar by end-December from around 82.9 on Tuesday, according to Credit Agricole SA and TD Securities

Rupee declines 2 paise to 82.92 against US dollar in early trade today

The rupee declined 2 paise to 82.92 against the US dollar in early trade on Tuesday, tracking a stronger American currency against major overseas rivals and outflow of foreign funds from domestic capital markets. Though a downward trend in the crude oil prices cushioned the Indian currency, it was weighed down by the subdued equity market sentiment, forex traders said. At the interbank foreign exchange, the domestic currency opened at 82.90 and slipped further to trade at 82.92 against the greenback, registering a loss of 2 paise from its previous close. On Monday, the rupee settled 1 paise lower at 82.90 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.03 per cent to 103.81. Brent crude futures, the global oil benchmark, fell 0.17 per cent to USD 82.66 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 259.97 points or 0.35 per cent lower at 73,612.32 points. The broad

Rupee appreciates 4 paise to 82.87 against US dollar in early trade

The rupee appreciated 4 paise to 82.87 against the US dollar in early trade on Monday, amid a weak American currency against major rivals overseas and inflow of foreign funds in the domestic capital markets. A positive sentiment in the equity markets supported the rupee, though the local unit was weighed down by an upward movement in the crude oil prices, forex traders said. At the interbank foreign exchange, the domestic currency opened at 82.86 and slipped further to trade at 82.87 against the greenback, registering a gain of 4 paise from its previous close. On Friday, the rupee settled 2 paise lower at 82.91 against the US dollar. Gaurang Somaiya, forex and bullion analyst, Motilal Oswal Financial Services, said, the rupee gained primarily as the dollar fell against major crosses and also supported by better-than-expected GDP data on the domestic front. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.01 per cent to ...

Rupee appreciates 2 paise to 82.89 against US dollar in early trade

The rupee appreciated 2 paise to 82.89 against the US dollar in early trade on Thursday, tracking a weak American currency and a downward trend in the crude oil prices. The domestic unit, however, weighed down by a volatile equity market and unabated outflow of foreign funds, forex traders said. Market participants were also awaiting the domestic GDP data to be released later in the day, they said. At the interbank foreign exchange, the local currency opened at 82.88 and dipped to 82.89 against the greenback, registering a gain of 2 paise from its previous close. On Wednesday, the rupee settled 2 paise lower at 82.91 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.11 per cent lower at 103.86 on Thursday. Analysts said the dip in the American currency was an instant reaction to the US macroeconomic data which projected a slightly lower growth rate for the world's largest economy. According to Gaurang Somaiya

Rupee flat at 82.89 against dollar amid unabated outflow of foreign funds

The rupee turned flat at 82.89 against the US dollar in early trade on Wednesday, resisting pressure amid unabated outflow of foreign funds and increased month-end demand of the American currency. According to forex analysts, crude oil prices hovering above USD 83 per barrel also weighed on the domestic currency, however, positive equity markets provided cushion and capped a steep fall in the rupee. Investors were also awaiting cues from US GDP data to be released later in the day and domestic GDP (Gross Domestic Product) numbers later this week, they said. At the interbank foreign exchange, the local currency opened at 82.90 and then inched up to trade at the previous day's closing level of 82.89 against the greenback. On Tuesday, the rupee settled 1 paisa lower at 82.89 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.09 per cent higher at 103.92. Gaurang Somaiya, forex and bullion analyst Motilal Oswal ...

Rupee flat at 82.88 against US dollar amid withdrawal of foreign funds

The rupee turned flat at 82.88 against the US dollar in early trade on Tuesday amid subdued equity market sentiment and withdrawal of foreign funds. According to forex analysts, support from a weak American currency was negated by higher level of crude oil prices even as investors adopted cautious move awaiting cues from domestic as well as global macroeconomic data. At the interbank foreign exchange, the local currency opened at 82.87 and then slipped further to trade at 82.88 against the greenback, the previous day's closing level. On Monday, the rupee settled 3 paise higher at 82.88 against the US dollar. According to Gaurang Somaiya, forex and bullion analyst, Motilal Oswal Financial services, the rupee traded almost flat and stuck in a narrow range and most market participants remained cautious ahead of a week filled with key economic data releases that will provide further clues on global interest rate outlook. "On the domestic front, Q4 GDP number will be released this week

Rupee appreciates 4 paise to 82.92 against US dollar in early trade

The rupee stayed firm for the fourth straight session and gained 4 paise to 82.92 against the US dollar in early trade on Thursday, tracking a weak American currency against major overseas rivals. Forex trader said, however, the Indian currency was under pressure due to subdued equity market sentiment and elevated level of crude oil prices. At the interbank foreign exchange, the domestic currency opened at 82.94 and gained further to 82.92 against the greenback in initial deals, registering a gain of 4 paise from its previous close. The rupee settled 1 paisa higher at 82.96 against the US dollar on Wednesday, after witnessing a cumulative gain of 8 paise in the preceding two sessions. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.04 per cent lower at 103.87. Analysts attributed the retreating dollar index to the US Federal Reserve's minutes that reflected policy makers' cautious approach, ebbing the possibility

Rupee appreciates 6 paise to 82.91 against US dollar in early trade

The rupee sustained its upward momentum for the third straight session and gained 6 paise to 82.91 against the US dollar in early trade on Wednesday, tracking a weak American currency and positive equity market sentiment. However, selling pressure from foreign equity investors amid elevated level of crude oil prices resisted a sharp gain in the domestic currency, analysts said. At the interbank foreign exchange, the domestic currency opened at 82.90 and slipped to 82.91 against the greenback in initial deals, registering a gain of 6 paise from its previous close. The rupee settled 4 paise higher at 82.97 against the US dollar on Tuesday, a day after gaining 4 paise in the preceding trading session on Friday. The currency market was closed on Monday on account of Chatrapati Shivaji Maharaj Jayanti. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.07 per cent lower at 103.90. Brent crude futures, the global oil benchmark, .

Rupee appreciates 2 paise to 82.99 against US dollar in early trade

The rupee rose 2 paise to 82.99 against the US dollar in early trade on Tuesday, amid softening crude oil prices in the overseas market. Forex traders said, however, a strong American currency, withdrawal of foreign funds and subdued equity market sentiment kept the local unit under pressure. At the interbank foreign exchange, the domestic currency opened at 83.02 and inched up to 82.99 against the greenback in initial deals, registering a gain of 2 paise from its previous close. On Friday, the rupee settled 4 paise higher at 83.01 against the US dollar. The currency derivatives market was closed on Monday on account of Chatrapati Shivaji Maharaj Jayanti. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.13 per cent higher at 104.28. Brent crude futures, the global oil benchmark, declined 0.13 per cent to USD 83.45 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 164.66 points or 0.23 per ce

Rupee registers marginal decline to 83.01 against US dollar in early trade

The rupee declined marginally to 83.01 against the US dollar in early trade on Tuesday amid a muted trend in domestic equities. A stronger American currency and elevated crude oil prices also dented sentiments. At the interbank foreign exchange, the rupee opened at 83.00 against the dollar, and touched an early high of 82.98 and a low of 83.01 in initial trade. On Monday, the rupee appreciated 7 paise to close at 83.00 against the US dollar. Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, said the rupee is expected to remain range bound with a narrow range of 82.95 to 83.05. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent higher at 104.23. Brent crude futures, the global oil benchmark, rose 0.09 per cent to USD 82.07 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 67.81 points or 0.10 per cent lower at 71,004.68 points. The broader NS

Rupee rises 7 paise to close at 83 against dollar on easing crude prices

The rupee appreciated 7 paise to close at 83 (provisional) against the US dollar on Monday, on softness in the American currency and easing crude oil prices. However, weak domestic markets and foreign fund outflows capped sharp gains, forex traders said. At the interbank foreign exchange market, the local unit opened at 83.01 against the greenback. The unit hit an intra-day high of 82.98 and a low of 83.02. The local unit finally settled at 83 (provisional) against the dollar, higher by 7 paise from its previous close of 83.07. "We expect the rupee to trade with a slight positive bias, positive global equities and a slight correction in the greenback. "However, any bounce back in crude oil prices amid ongoing geopolitical tensions in the Middle East and selling pressure from foreign investors may weigh on the rupee at higher levels," said Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas. Traders may take cues from India's CPI and IIP data. "Headline inflation is expect

Rupee appreciates 2 paise to 83.03 against US dollar in early trade

The rupee appreciated 2 paise to 83.03 against the US dollar in early trade on Wednesday supported by positive domestic equities. Moreover, the weakness of the American currency in the overseas market also aided sentiments. At the interbank foreign exchange, the rupee opened at 83.03 against the dollar, registering a gain of 2 paise over its previous close. On Tuesday, the rupee declined marginally by 2 paise to close at 83.05 against the US dollar. Forex traders said the rupee is trading in a narrow range as factors such as capital inflows and stable domestic economic data supported sentiments, while hawkish FED, strong US data and global tensions weighed on the local unit. Moreover, investors were cautious as the Reserve Bank's monetary policy committee (MPC), the six-member rate-setting panel, began the deliberation on Tuesday. The central bank will announce the key interest rate decision on Thursday. Meanwhile, the dollar index, which gauges the greenback's strength against a

Rupee to gain slightly this year amid continued RBI intervention: Report

The RBI is still widely expected to cut rates later this year, but at a much slower pace than the Fed, so relative rupee strength may linger

Amid volatile oil prices, rupee turns flat at 83.03 against US dollar

The rupee stayed flat at 83.03 against the US dollar in early trade on Tuesday amid volatile crude oil prices in the overseas market. The Indian currency, however, found support from positive sentiment in the domestic equity markets and sustained inflow of foreign funds, forex traders said. They also said investors are expected to move cautiously ahead of the Reserve Bank's monetary policy committee (MPC) meeting. The six-member rate-setting panel of the central bank will begin the deliberation on Tuesday and announce the outcome on Thursday. At the interbank foreign exchange, the rupee opened at 83.03 against the dollar and slipped to 83.04 before retaining the previous day's closing level of 83.03 against the greenback. The rupee settled 5 paise lower at 83.03 against the dollar on Monday. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally lower by 0.04 per cent at 104.28. Analysts attributed the higher

Rupee depreciates 4 paise to 83.02 against US dollar in early trade

The rupee depreciated 4 paise to 83.02 against the US dollar in early trade on Monday, tracking a strong American currency and rising crude oil prices in the international market. However, positive cues from the domestic equity markets and inflow of foreign funds supported the Indian currency, forex traders said. Investors will also keep a close watch on the Reserve Bank's monetary policy decision to be announced later this week, they said. At the interbank foreign exchange, the rupee opened at 83.03 against the dollar and touched a low of 83.04 before gaining marginally to trade at 83.02, down 4 paise over its previous close. The rupee settled flat at 82.98 against the dollar on Friday, a day after rising 6 paise on the day of the Union interim budget in which the government hinted at faster fiscal consolidation and lower borrowings in the next fiscal year. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.11 per

Supported by equities, rupee appreciates 16 p to 82.82 against US dollar

The rupee appreciated 16 paise to 82.82 against the US dollar in early trade on Friday supported by positive domestic equities, as the interim budget focused on higher capex and faster fiscal consolidation. Forex traders said the interim budget had a positive impact on the domestic currency as it highlighted a reduction in the fiscal deficit to 5.1 per cent of GDP for FY25. Moreover, the weakness of the American currency in the overseas market also boosted sentiments. At the interbank foreign exchange, the rupee opened at 82.91 against the dollar and then touched a high of 82.82, registering a gain of 16 paise over its previous close. The rupee appreciated by 6 paise to close at 82.98 against the US dollar on Thursday after the government hinted at faster fiscal consolidation and lower borrowings in interim budget for 2024-25. Finance Minister Nirmala Sitharaman on Thursday hiked capital expenditure by 11 per cent for the next fiscal to sustain a world-beating economic growth rate

Rupee appreciates 9 paise to 82.95 against US dollar ahead of Budget

The rupee appreciated 9 paise to 82.95 against the US dollar in early trade on Thursday as market participants remained cautious ahead of the interim Budget. Forex traders said the rupee was trading in a narrow range as the strength of the American currency in the overseas market and a muted trend in domestic equities weighed on investor sentiments. At the interbank foreign exchange, the rupee opened at 83.02 against the dollar and then touched a high of 82.95, registering a gain of 9 paise over its previous close. In initial trade, the rupee also touched a low of 83.03 against the American currency. On Wednesday, the rupee appreciated 6 paise to 83.04 against the US dollar. Forex traders said rupee traded in a narrow range and market participants remained cautious ahead of the interim Budget. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.24 per cent higher at 103.52. Brent crude futures, the global oil benchmark, fell

Rupee expected to weaken as odds of Fed rate cut in March diminish

The rupee's intraday range in the last four sessions has been just 2 to 6 paisa

Rupee trades in narrow range against US dollar due to rising crude prices

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.15 per cent lower at 103.45