Page 3 - Rupee Vs Dollar

Rupee hovers close to all-time low as equities remain under pressure

Rupee has been pressured by a surge in outflows from local stocks alongside in a rise in US bond yields and the dollar index this month

Rupee turns flat at 84.07 against US dollar on foreign fund outflow

The rupee stayed flat at 84.07 against the US dollar in early trade on Thursday amid elevated crude oil prices and continuous withdrawal of foreign funds from capital market. However, the local unit found some cushion as the dollar retreated from its higher level while the domestic equity markets indicated a recovery, forex traders said. At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and slipped 1 paisa to trade at previous day's closing level in initial deals. On Wednesday, the rupee had settled with a marginal gain of 1 paisa at 84.07 against the US dollar. The local currency has been struggling to recover since October 11, when it closed at its lowest level of 84.10 against the dollar. Analysts said the selling rush by foreign investors in pursuit of better gains from the Chinese market has been preventing rupee's recovery, while higher US treasury yields has triggered the fear of slower interest rate cut by the Federal Reserve. Amid uncerta

Rupee trades 1 paisa higher at 84.07 against US dollar amid weak equities

The rupee stayed almost flat, trading 1 paisa higher at 84.07 against the US dollar in early trade on Wednesday, dragged down by strengthening American currency and relentless outflow of foreign funds. Forex traders said a downward trend in domestic equity markets and elevated level of crude oil prices prevented a recovery in the Indian currency. At the interbank foreign exchange, the rupee opened 1 paisa higher at 84.07 against the greenback and traded on a flat note in early deals. On Tuesday, the rupee settled 1 paisa lower at 84.08 against the US dollar. The local currency has been struggling to recover since October 11, when it closed at its lowest level of 84.10 against the dollar. According to analysts, the rupee has been under pressure due to the continuous selling of Indian equities by FIIs in pursuit of better gains from the Chinese market. Also, they said, a surge in the US treasury yields raised concerns that the Federal Reserve may slowdown its rate cut move, steerin

Rupee turns flat at 84.07 against US dollar on foreign fund outflow

The rupee stayed flat at 84.07 against the US dollar in early trade on Tuesday as positive sentiment in domestic equity markets was negated by the unabated outflow of foreign funds. The local unit resisted the fall on the back of the retreating dollar and a downward movement in the crude oil prices, forex traders said. At the interbank foreign exchange, the rupee opened at 84.07 against the greenback and traded on a flat note in early deals. On Monday, the rupee settled flat at 84.07 against the US dollar, a tad higher from its all-time low of 84.10 recorded on October 11. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.04 per cent to 103.79. Brent crude, the international benchmark, declined 0.22 per cent to USD 74.13 per barrel in futures trade. On the domestic equity market front, Sensex rose 180.46 points, or 0.22 per cent, to 81,331.73 points. The Nifty also advanced 61.25 points, or 0.25 per cent, to 24,842.35

Indian Rupee faces slow grind lower on oil and China rotation risks

Barclays Plc. points to record-high gold prices, a stronger dollar, and increased risk aversion as reasons why the central bank may allow the rupee to decline

Rupee slips 1 paisa to 84.07 against US dollar during early trade

The rupee slipped 1 paisa to 84.07 against the US dollar in early trade on Friday, as the weakening American currency failed to support the local unit amid negative domestic equity markets and higher crude oil prices. Forex traders said the unabated outflow of foreign funds also weighed on the domestic unit. At the interbank foreign exchange, the rupee opened flat at 84.06 against the greenback and lost further to 84.07, trading 1 paisa lower from its previous close. On Thursday, the rupee weakened by 4 paise to close at 84.06 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down by 0.11 per cent to 103.53 points. Negative dollar index was attributed to the fresh indication by Chinese central bank to reduce reserve ratio required for the country's lenders by the end of this year, which is expected to give further boost to the world's second largest economy. Brent crude, the international benchmark, .

Rupee pegged back by higher US yields; hopes of RBI intervention counters

Choppy oil prices, foreign investors taking out money in lieu of the China stimulus, higher US yields and the dollar has pushed back the rupee by just 0.3 per cent month-to-date

Rupee drops to lifetime low of 84.07 on high dollar demand by foreign banks

The rupee has remained under pressure this month due to sustained outflows from local equities

Rupee weakens below 84 against US dollar amid FPI selloff, costlier oil

Took two years after hitting 83/$ due to timely intervention

Rupee rises 1 paisa to 83.95 against US dollar during early trade

The rupee rose 1 paisa to 83.95 against the US dollar in early trade on Thursday amid a firm trend in domestic equity markets and a weaker greenback against major overseas rivals. However, an increase in global oil prices and heavy foreign fund outflows capped further recovery in the domestic currency, according to forex experts. At the interbank foreign exchange, the rupee opened at 83.95, marginally up by 1 paisa against the US dollar, and traded almost flat in early deals. The local unit had settled at 83.96 against the greenback on Wednesday. The Reserve Bank of India's (RBI) decision to keep policy rates unchanged also played a part in the rupee's range-bound movement. The RBI on Wednesday kept the policy rate unchanged for the tenth time in a row but shifted its stance from "withdrawal of accommodation" to "neutral" that may lead to a cut in the forthcoming policies. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was d

Rupee rises 5 paise to 83.92 against US dollar during early trade

The rupee appreciated 5 paise to 83.92 against the US dollar in early trade on Wednesday, ahead of the Reserve Bank of India's monetary policy announcement. Forex traders said the spotlight is firmly on the RBI as it prepares to announce its monetary policy. Most major central banks have pivoted toward rate cuts, with the US Fed being the latest to lower rates by 50 basis points. The RBI has maintained its accommodative stance. All attention now shifts to whether the central bank will move from its accommodative stance to a more neutral approach. At the interbank foreign exchange market, the local unit opened at 83.92 against the American currency, registering a rise of 5 paise over its previous close. On Tuesday, the rupee rose 3 paise to close at 83.97 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was up 0.03 per cent to 102.58 points. Brent crude, the international benchmark, was trading higher by 0.40 per ce

Rupee rises 6 paise to 83.94 against US dollar during early trade

The rupee rose 6 paise to 83.94 against the US dollar in early trade on Tuesday supported by a weaker greenback and lower crude oil price. However, volatility in the domestic equity markets and FII outflows capped sharp gains in the local unit, forex traders said. At the interbank foreign exchange, the rupee opened at 83.97 against the US dollar and rose to 83.92 before slipping marginally to 83.94, higher by 6 paise from its previous close. The domestic unit had settled at 84.00 on Monday. The reconstituted rate-setting panel of the Reserve Bank of India (RBI) on Monday started deliberations on the next bi-monthly monetary policy. The decision of the panel will be announced on Wednesday, which could determine the movement in the rupee over the next few days. In the current context, experts feel that the RBI may not follow the US Federal Reserve, which lowered the benchmark rates by 50 basis points, and the central banks of some developed nations, which have reduced the interest

RBI intervention keeps rupee from hitting 84 against the US dollar

The rupee was weighed by outflows from the domestic equities, rise in crude oil prices, and the surge in dollar index, said dealers

Rupee rises 2 paise to 83.97 against US dollar during early trade

The rupee rose 2 paise to 83.97 against the US dollar in early trade on Monday, aided by a weaker greenback in the international market and a drop in crude oil prices. The increase in the country's forex reserves to a new all-time high of USD 704.88 billion on Friday further pushed the domestic currency, according to forex traders. However, growing escalation in conflict in the Middle East and FIIs outflow on Friday capped sharp gains in the domestic unit, they said. At the interbank foreign exchange, the rupee opened at 83.96 against the US dollar, 3 paise higher from its previous close of 83.99. It then declined 1 paisa to 83.97, higher by 2 paise from Friday's close. India's forex reserves jumped USD 12.588 billion to a new all-time high of USD 704.885 billion for the week ended September 27, the Reserve Bank of India said on Friday. On the domestic equity market front, the Sensex rose 228.16 points, or 0.28 per cent, to 81,916.61. The Nifty rose 67.60 points, or 0.27 per cent

Rupee plunges 11 paise to 83.93 against US dollar during early trade

Rupee depreciated 11 paise to 83.93 against the US dollar in early trade on Thursday due to rising crude oil prices and negative sentiment in the domestic equity markets amid concerns over escalating tension in the Middle East. Unabated outflow of foreign funds from capital markets and a strengthening American currency also weighed on the Indian currency, forex traders said. At the interbank foreign exchange, the local unit opened at 83.91 and lost further ground to touch 83.93 against the greenback, trading 11 paise lower from its previous session's closing level. On Tuesday, the rupee settled 3 paise lower at 83.82 against the American currency. The forex markets were closed on Wednesday on account of Mahatma Gandhi Jayanti. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.10 per cent to 101.53. Brent crude, the international benchmark, climbed 1.11 per cent to 74.72 in futures trade. Experts attributed the spike in c

Rupee depreciates 2 paise to 83.81 against US dollar in early trade

Rupee fell 2 paise to 83.81 against the US dollar in early trade on Tuesday, tracking massive outflow of foreign funds amid volatile global markets. Forex traders said the Indian unit was weighed down by a strengthening American currency against major rivals, though a retreating crude oil prices and recovery in domestic equity markets resisted a steep fall in the rupee. They said monetary and fiscal stimulus announced by China triggered the withdrawal of foreign funds as investors preferred better-performing Chinese markets. At the interbank foreign exchange, the local unit opened at 83.81 against the greenback, registering a loss of 2 paise from its previous closing level. On Monday, the rupee settled 10 paise lower at 83.79 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.02 per cent to 100.54. Brent crude, the international benchmark, declined 0.29 per cent to 71.77 in futures trade. O

Rupee steady against US dollar in CY24, weakens vs euro and pound

Experts say RBI's action in dollar market may had an impact

Rupee declines 11 paise to 83.69 against US dollar during early trade

Rupee declined 11 paise to 83.69 against the US dollar in early trade on Thursday amid a strengthening dollar against overseas currencies and an increase in crude oil prices. FIIs turning net sellers on Wednesday put further pressure on the domestic currency against the greenback, according to forex experts. At the interbank foreign exchange, the local unit opened at 83.66, down 8 paise from its previous close of 83.58 against the American currency. It slipped further to 83.69, 11 paise lower from Wednesday's closing rate. "The USDINR is expected to find strong support at 83.50, with potential to rebound toward 83.75-83.80, offering another selling opportunity for those who missed out at similar levels before," CR Forex Advisors MD Amit Pabari said. On the domestic equity markets front, the Sensex climbed 146.27 points to reach its all-time high of 85,316.14, while the Nifty, too, scaled to a record high of 26,037.25 points, up 33.10 points. The dollar index, which gauges the ...

Rupee appreciates 10 paise to 83.53 against US dollar in early trade

The rupee appreciated 10 paise to 83.53 against the US dollar in early trade on Wednesday, on the overall dollar weakness in the overseas market. Forex traders said the US dollar has weakened against majors post the weak consumer confidence print. The US consumer confidence dropped by the most in three years to 98.7 from 105.6 in August. At the interbank foreign exchange market, the local unit opened at 83.59 against the American currency, then touched 83.54, registering a rise of 10 paise over its previous close. On Tuesday, the rupee depreciated 9 paise to close at 83.63 against the American currency. "The Indian rupee which depreciated on Tuesday opened stronger on the overall dollar weakness against Asian currencies and European currencies," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. The dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.21 per cent to 100.25 points. Brent cru

Rupee rises 6 paise to 83.46 against US dollar during early trade

The rupee entered its third week of rally and appreciated 6 paise to 83.46 against the US dollar in early trade on Monday, tracking positive momentum in domestic equity markets amid a massive inflow of foreign funds. However, an upward movement in the crude oil prices and a strengthening greenback against major overseas rivals capped a sharp rise in the Indian currency, forex traders said. At the interbank foreign exchange market, the Indian currency opened at 83.44 and fell to 83.49 before trading again at 84.46 against the greenback, registering a gain of 6 paise higher than its previous closing level. The local unit gained 13 paise to settle at 83.52 against the US dollar on Friday. The Indian currency has been on a recovery path since September 11 when it had settled at 83.99 against the American currency, a tad higher than the lowest level of 84.09 recorded on August 5. The upward move of the Indian currency was attributed to the US Federal Reserve's decision to reduce benchm