Page 2 - Us Dollar

Yen rallies on upbeat growth data, dollar steady around two-month low

This has cemented the case for more rate hikes from the Bank of Japan this year. Markets are now pricing in roughly another 37 basis points worth of increases by December

Forex reserves increase $7.65 bn to $638.26 bn in week ended Feb 7

India's forex reserves jumped by USD 7.654 billion to USD 638.261 billion in the week ended February 7, the RBI said on Friday. This is the third consecutive week of a jump in the kitty, which had increased by USD 1.05 billion to USD 630.607 billion for the week ended January 31. The reserves had been on a declining trend recently due to revaluation along with forex market interventions by RBI to help reduce volatilities in the rupee. The forex reserves had increased to an all-time high of USD 704.885 billion at end-September 2024. For the week ended February 7, foreign currency assets, a major component of the reserves, increased by USD 6.422 billion to USD 544.106 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves increased by USD 1.315 billion to USD 72.208 billion during the week,

Rupee rises 8 paise to 86.85 against US dollar during early trade

The rupee appreciated 8 paise to 86.85 against the US dollar in early trade on Friday as the American currency retreated from elevated level and domestic equity markets shows favourable trend. The local unit, however, remained under pressure due to unabated foreign fund withdrawal and higher crude oil prices, forex traders said. At the interbank foreign exchange, the rupee opened at 86.86 and gained further ground to trade at 86.85 against the greenback during early deals, up 8 paise from its previous close. On Thursday, the rupee settled almost flat with a gain of just 2 paise at 86.93 against the US dollar. The unit had closed 16 paise lower on Wednesday, a day after surging 66 paise, witnessing the highest single-day rise in nearly two years. The domestic unit has been facing extreme volatility for the past few months due to several global macroeconomic uncertainties. Finance Minister Nirmala Sitharaman on Thursday said the rupee along with other Asian currencies has depreciate

Brazil nixes Brics currency, eyes less reliance on 'mighty' dollar

Brazil is pushing reforms within Brics to ease international payments in local currencies, opening the door to less dependence on the dollar for global trade

Rupee rises 27 paise to 86.52 against US dollar during early trade

The rupee sustained its recovery from lowest level for the second straight session and appreciated 27 paise to 86.52 against the US dollar on Wednesday supported by easing crude oil prices and measures by the Reserve Bank. However, rupee's gain was capped by the volatile domestic equity markets, outflow of foreign funds and strengthening American currency amid concerns over the worldwide tariff war, forex traders said. At the interbank foreign exchange, the rupee opened at 86.44, touched a high of 86.36 and then traded at 86.52 against the greenback during early deals, 27 paise higher from its previous close. On Tuesday, the rupee appreciated 66 paise, logging the maximum single-day gain since March 3, 2023, to close at 86.79 against the US dollar. The steep surge came a day after the unit plunged to near 88 per US dollar level during intraday on Monday, though the currency staged a dramatic rebound in the second half to end the session with gains at 87.45 against the ...

Rupee appreciates 61 paise to 86.84 against US dollar in early trade

The rupee gained 61 paise to 86.84 against the US dollar in early trade on Tuesday, after nearing closer to 88-level on Monday, amid high volatility as heightened trade war fears have created widespread economic uncertainty, significantly impacting global currency markets. The sharp depreciation in the rupee was driven primarily by the threats of reciprocal tariffs and additional protectionist measures that have strained global supply chains, deepening concerns over prolonged economic disruption, forex traders said. At the interbank foreign exchange, the rupee opened at 87.45 against the greenback, then touched 86.84 against the American currency in morning trade, registering a rise of 61 paise from its previous close. On Monday, the rupee plunged 45 paise and moved closer to the 88 per US dollar level, weighed down by the strength of the American currency tariff concerns, but eventually settled at 87.45, up 5 paise, following RBI intervention. "As USD/INR neared 88, the RBI ...

Reserve Bank of India pulls back rupee from the brink of 88 against dollar

The rupee depreciated to a new low of 87.95 prompting the central bank to intervene, dealers said

Rupee settles flat at 87.50 against dollar after inching close to 88-level

The rupee on Monday plunged 45 paise and moved closer to the 88 per US dollar-level, weighed down by the strength of the American currency tariff concerns, but settled on a flat note at 87.50 (provisional) on suspected RBI intervention. The American currency gained in the overseas market after US President Donald Trump's plans to impose 25 per cent tariffs on steel and aluminum imports, along with reciprocal tariffs targeting countries taxing US exports. The move has added jitters over the global trade war with China's reciprocal duties coming into effect, they said. At the interbank foreign exchange, the rupee opened at 87.94 and touched an all-time intraday low of 87.95 against the American currency during the session. The local unit, however, pared the initial losses and finally settled on a flat note at 87.50 (provisional), unchanged over its previous close. On Friday, the rupee recovered 9 paise from its all-time low level to close at 87.50 against the US dollar. The rupee .

Asia shares slip, dollar up with yields as Trump's trade tariffs loom

China's retaliatory tariffs on some US exports are due to take effect on Monday, with no sign as yet of progress between Beijing and Washington

US dollar rises in volatile trade as jobs data delays Fed rate cuts

The dollar index, which measures the U.S. currency against the yen, sterling and other peers, rose to as high as 108.02. It was last up 0.102% at 107.77

Rupee sidesteps RBI rate cut to end higher, posts worst week in over 2 yrs

The Reserve Bank of India cut its key interest rate for the first time in nearly five years and signalled a less restrictive policy approach, seeking to provide stimulus to a sluggish economy

Rupee recovers 16 paise from all-time low level to 87.43 against dollar

The rupee recovered 16 paise from all-time low closing level to 87.43 against the US dollar in early trade on Friday, ahead of the Reserve Bank of India's monetary policy announcement. Forex traders said there is an overall negative bias in the rupee as market participants are projecting RBI to cut rates by 25 bps. While a rate cut could help ease some of the pressure by improving liquidity and attracting foreign investments, it would also lead to an increase in rupee supply, which could further weaken the currency and exacerbate depreciation pressures, they said. At the interbank foreign exchange, the rupee opened at 87.57 against the greenback, and touched 87.43 against the greenback in initial trade, registering a rise of 16 paise from its previous close. On Thursday, the rupee plunged 16 paise to close at an all-time low of 87.59 against the US dollar. "As long as the liquidity deficit persists, the rupee will remain under pressure. Additionally, the CRR cut is further weighin

Rupee hits another new low of 87.59 ahead of RBI's rate decision Friday

At the end of November, the Reserve Bank of India (RBI) had a $59 billion short position in the forward market

Rupee falls 14 paise to 87.57 against US dollar in early trade today

The rupee depreciated 14 paise to hit record low of 87.57 against the US dollar in early trade on Thursday weighed down by anticipation of an RBI rate cut and weak economic data. Forex traders said the Indian rupee opened on a weak note and made a fresh record low of 87.57 as market participants anticipated that the Reserve Bank of India (RBI) may slash interest rates on February 7, 2025. Moreover, the rupee continued to face pressure due to sustained foreign fund outflows and a negative trend in domestic equities amid weak risk appetite, they added. At the interbank foreign exchange, the rupee opened at 87.54 and slipped further to all-time low of 87.57 against the greenback in initial deals, a fall of 14 paise from its previous close. On Wednesday, the rupee plunged 36 paise to close at an all-time low of 87.43 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.11 per cent higher at ...

Rate cut expectations push rupee to a new low despite falling dollar index

Despite a weaker dollar index and stronger Asian currencies, the rupee depreciated due to stop-loss triggers, said dealers

Rupee recovers 13 paise from its all-time low of 86.98 against US dollar

The rupee recovered 13 paise from its all-time low closing level to 86.98 against the US dollar in early trade on Tuesday, after President Donald Trump agreed to pause tariffs on Mexico and Canada for 30 days. Forex traders said the US dollar index, which had surged past 109.88 level, retreated to 108.74 after Trump announced the temporary pause on tariffs. At the interbank foreign exchange, the rupee opened at 86.98 against the greenback, registering a rise of 13 paise from its previous close. On Monday, the rupee plunged 49 paise to close at an all-time low of 87.11 against the US dollar. "The Indian rupee opened near to 86.98 on Tuesday after relief from Trump's tariffs overnight on reaching an agreement with Canada and Mexico. "The range for the day is expected between 86.80 to 87.20 with dips to be bought. Premiums rose on Monday after the Reserve Bank of India set the cut off for 6 months swap higher than market expectations," said Anil Kumar Bhansali, Head of Treasury and

Donald Trump tariffs hammer markets globally, rupee sinks below 87/$

The benchmark Sensex and Nifty ended with a decline of around half a per cent

Govt not worried about rupee volatility: Finance and Revenue Secy Pandey

This statement comes after the rupee fell to a record low of 87.29 against the US dollar, depreciating by 67 paise in early trading

Rupee crosses 87 per dollar mark amid tariff hikes and safe haven demand

The rupee was trading at 87.16 per dollar at 10:31 IST.

Rupee plunges 67 paise to hit record low of 87.29 against US dollar

The rupee depreciated 67 paise to hit record low of 87.29 against the US dollar in early trade on Monday after Trump Tariffs on Canada Mexico and China triggered fears of a broad trade war. Donald Trump slapped Canada and Mexico with 25 per cent duties and China with a 10 per cent duty, The move was the first strike in what could usher a destructive global trade war, forex traders said. The rupee continued to face pressure due to sustained foreign fund outflows and the broad strength of the American currency in the overseas markets due to unabated dollar demand from oil importers and weak risk appetite, they added. At the interbank foreign exchange, the rupee opened at 87.00 and slipped further to 87.29 against the greenback in initial deals, a plunge of 67 paise from its previous close. On Friday, the rupee settled flat at 86.62 against the American currency. "The start of the week saw financial markets on edge as US President Donald Trump followed through on his tariff threats,