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Indian rupee weakened against the US dollar on Thursday ahead to speeches from key US policymakers later in the day for cues on the pace of interest rate cuts. Moreover, foreign fund outflows and an increase in crude oil prices have also weighed on rupee sentiments. Foreign Institutional Investors were net sellers in the capital markets on Tuesday, offloading shares worth Rs 973.94 crore, exchange data showed. However, firm domestic equities and muted dollar have limited further weakness in r...
Rupee weakens against US dollar on Thursday
Below the Quote on Rupee By Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities "The rupee traded positively, gaining 0.07rs to settle stronger. This strength is likely supported by a weak dollar index and continued positive sentiment in Indian markets. The rupee's support is positioned in the 83.60-83.70 range, while resistance remains around 83.45-83.35. All eyes are now on the upcoming Core PCE Price Index in the US on Friday, which could...
Quote on Rupee by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Indian rupee strengthened against the US dollar on Wednesday, tracking weaker American currency at overseas market after the release of US Conference Board consumer confidence data for September missed expectations. Data showed that the US Conference Board's consumer confidence index slid to 98.7, down from 105.6 in August, the biggest one-month decline since August 2021. Rupee improved further after the Asian Development Bank retained India's growth forecast at 7% for the current fis...
Rupee strengthens against US dollar on Wednesday
Indian rupee weakened against the US dollar on Tuesday tracking muted domestic equities and rising crude oil prices, even as S&P Global Ratings maintained India's growth forecast at 6.8% and expected the Reserve Bank of India (RBI) might cut interest rates in October. However, some falls were limited by foreign fund inflows into Indian capital markets. Foreign Institutional Investors were net buyers in the capital markets on Monday, as they purchased shares worth Rs 404.42 crore, exch...
Rupee weakens against US dollar on Tuesday
Indian rupee strengthened marginally against the US dollar on Monday, tracking firm domestic equities and a massive inflow of foreign funds into capital markets. On Friday, Foreign Institutional Investors (FIIs) purchased shares worth Rs 14,064.05 crore, exchange data showed. Meanwhile, the Reserve Bank data showed India's forex reserves rose by $223 million to a new all-time high of $689.458 billion for the week ended on September 13. The US Federal Reserve's last week’s decisi...
Rupee strengthens against US dollar on Monday
Below the Quote on Rupee By Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities "The rupee traded positively with gains of 0.10rs at 83.53, supported by continued weakness in the dollar index, which is trading at 52-week lows. Following the Fed's rate cut, Indian markets have seen renewed buying interest, particularly in sectors that had previously experienced selling pressure. The resilience of the Indian markets is providing additional str...
Quote on Rupee by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Indian rupee strengthened against the US dollar on Friday, on weaker dollar following by the first interest rate cut by Federal Reserve since early 2020. The US Federal Reserve cut its benchmark interest rates by half a percentage point or 50 basis points, amid signs that inflation was moderating and the labor market was weakening. Further, firm domestic equity market supported rupee sentiments, despite some outflow of foreign funds. Foreign Institutional Investors (FIIs) were net sellers in ...
Rupee strengthens against US dollar on Friday
The Japanese Yen strengthened following the Bank of Japan's decision to maintain its interest rate at 0.15%. Japan's Consumer Price Index rose to 3.0% in August, marking the highest level since October 2023. The US Dollar faced pressure as market expectations grew for future Federal Reserve rate cuts, with the 2024 median forecast revised downward. However, Fed Chair Jerome Powell emphasized a cautious approach to easing. Despite Japan's increasing trade deficit, the Yen continues...
Japanese Yen Gains Amid BoJ Rate Decision and Rising Inflation Data by Amit Gupta, Kedia Advisory
Indian rupee strengthened against the US dollar on Thursday tracking firm domestic equities after the US Federal Reserve decided to cut interest rate by 0.5% after more than four years in line with market expectations. US Fed Chair Jerome Powell also indicated that the United States is on track to achieve the targeted level of inflation at 2%. Moreover, lower crude oil prices and foreign fund inflows have also supported rupee sentiments. Foreign Institutional Investors were net buyers in the ...
Rupee strengthens against US dollar on Thursday
The rupee has emerged as one of the least volatile currencies worldwide, remaining "very stable against the US dollar" and the volatility index, the Reserve Bank of India (RBI) Governor Shaktikanta Das has said. According to Das, the central bank’s stated policy is to prevent excessive volatility of the rupee. “Stable rupee fosters confidence among market participants, investors and the wider economy,” Das was quoted as saying in reports. The RBI has...
Rupee among least volatile currencies globally: Shaktikanta Das
Indian rupee strengthened against the US dollar on Monday supported by weakening of the American currency in the overseas market and significant foreign fund inflows. Market participants are eagerly awaiting cues from the US Fed policy on September 18, with a rate cut all but certain. Foreign Portfolio Investors (FPIs) continued their bullish stance on Indian stocks, infusing Rs 16,881.03 crore in the second week of September, according to data from the National Securities Depository (NSDL). ...
Rupee strengthens against US dollar on Monday
As India's forex reserves jumped $5.2 billion to a fresh all-time high of $689.24 billion, industry experts said on Saturday that this will create external sector resilience and boost economy across sectors. According to the weekly data by Reserve Bank of India (RBI), foreign currency assets (FCAs) grew by $5.10 billion to $604.1 billion (week ended September 6). The data showed a $129 million increase in Gold reserves to $61.988 billion, compared to $61.859 billion in the Aug...
Fresh all-time high forex to further boost country’s external sector resilience
indian rupee strengthened against the US dollar on Friday, after India’s retail inflation eased to 3.65% year-on-year in August, which below the Central Bank’s target of 4% for the second consecutive month and it indicating that price pressures are under control. Moreover, expectation of long-awaited interest rate cuts next week, weak American currency at overseas market and significant foreign fund inflows have also supported rupee sentiments. However, some gains were limited by ...
Rupee strengthens against US dollar on Friday
The Indian rupee is expected to rise on Friday after media reports prompted investors to pile into wagers that the U.S. Federal Reserve may cut interest rates by 50 basis points next week. The 1-month non-deliverable forward indicated that the rupee will likely open at 83.92-83.94 to the U.S. dollar, compared with 83.9650 on Thursday. The dollar was under pressure following media reports from the Financial Times and the Wall Street Journal, which indicated that the Fed's decis...
Rising odds of big Fed rate cut following reports likely to boost rupee
The dollar softened on Friday, with the yen hitting its highest level this year as investors remained on tenterhooks ahead of next week's central bank bonanza where the focus is on the Federal Reserve and the size of its expected interest rate cut. While the Fed is all but certain to cut rates next week, uncertainty around whether it will go with a 25 basis point cut or 50 basis points (bps) has kept investors on edge and weighed on the dollar. Analysts pointed to media report...
Dollar weak, yen at 2024 high on bets of big rate cut from Fed
Indian rupee strengthened against the US dollar on Thursday, tracking firm domestic equities, foreign fund inflows and an active intervention by the Reserve Bank of India (RBI). Foreign Institutional Investors were net buyers in the capital markets on Wednesday, as they purchased shares worth Rs 1,755.00 crore, exchange data showed. Meanwhile, a bigger than expected increase in core US inflation strongly indicated a quarter-point rate cut in the upcoming week. However, some gains were limited...
Rupee strengthens against US dollar on Thursday
The Indian rupee is likely to be under slight pressure at the open on Thursday after resilient U.S. inflation dented hopes of the Federal Reserve opting for a large rate cut next week. The one-month non-deliverable forward indicated that the rupee will open at 83.98-83.99 to the U.S. dollar, compared with 83.9775 in the previous session. The currency risks dipping past its lifetime low of 83.9850 hit last week. "With U.S. inflation out of the way, the base case now is for a 25-b...
Dwindling hopes of 50 bps Fed rate cut may push rupee to all-time low
The dollar traded near a four-week high versus the euro on Thursday after signs of some stickiness in U.S. inflation reinforced expectations that the Federal Reserve would avoid a super-sized interest rate cut next week. Meanwhile, a quarter-point rate reduction from the European Central Bank (ECB) is widely expected later on Thursday, with investors anxious for hints on how soon the monetary authority will cut again. The dollar gained against the yen, following a turbulent session on W...
Dollar firm after inflation data douse bets for big Fed cut
Indian importers are exploring options strategies to hedge against currency risks amid muted volatility in the rupee, moving away from outright forwards that have become expensive, traders said. Premiums, which reflect the interest rate differential between the United States and India, have surged as the Federal Reserve is expected to embark on a rate-cutting cycle, starting next week. "With forward premiums up significantly, we are recommending to importers to consider option stru...
Indian importers favour FX options as rupee holds steady, premiums soar
Indian rupee strengthened against the US dollar on Wednesday tracking its Asian peers, and as the American currency and crude oil prices retreated. Meanwhile investors are awaiting for US inflation data to be released later today, which could offer cues on the magnitude of an expected rate cut from the Fed later this month. Moreover, foreign fund inflows and the Reserve Bank's active intervention have also kept the rupee higher. Foreign Institutional Investors were net buyers in the capit...
Rupee strengthens against US dollar on Wednesday
The dollar fell to its lowest against the yen this year on Wednesday after investors upped the chances of Democrat Kamala Harris beating Republican rival Donald Trump in November's presidential election after a scheduled debate. The yen received an additional boost from Bank of Japan board member Junko Nakagawa, who reiterated that the central bank would continue to raise interest rates if the economy and inflation move in line with its forecasts. Traders were also awaiting a key U....
Dollar drops; Harris` chances improve after US election debate
Indian rupee weakened against the US dollar on Tuesday driven by firm American currency and a surge in US treasury yields ahead of US inflation numbers this week, while foreign fund outflows has also dented rupee sentiment. Foreign Institutional Investors were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 2,000.12 crore, exchange data showed. However, some falls were limited by falling crude oil prices and expectations of continued RBI intervention. The p...
Rupee weakens against US dollar on Tuesday
The dollar edged down on Tuesday before U.S. inflation data and the televised U.S. presidential debate, which could affect expectations for the interest rate outlook. A mixed labour report on Friday failed to make a clear-cut case for whether the Federal Reserve would deliver a regular 25 basis point (bps) rate cut or an outsized 50 bps one at its Sept. 17-18 policy meeting. Traders are now waiting on Wednesday's U.S. consumer price index report. Barclays strategists noted that the ...
Dollar edges down before US inflation data, presidential debate
Indian rupee strengthened against the US dollar on Monday tracking firm domestic equities, while the Reserve Bank of India's active intervention also helped the rupee’s up-move. Meanwhile, RBI data showed India's forex reserves jumped by Rs 19,295 crore ($2.299 billion) to a new high of Rs 57,40,839 crore ($683.987 billion) for the week ended on August 30. However, some gains were limited by foreign fund outflows and uncertainty over the likelihood of an aggressive Federal rate ...
Rupee strengthens against US dollar on Monday
The Indian rupee ended little changed on Monday, as dollar sales by foreign banks offset the drag from Asian peers that fell due to weak risk appetite as investors awaited clarity on the size of a likely U.S. rate cut this month. The rupee ended the session at 83.9550 against the U.S. dollar, nearly unchanged from its close at 83.9475 on Friday. Mild dollar sales from foreign banks supported the local currency, while overall trading activity was relatively subdued, a senior trader at a ...
Rupee ducks risk-aversion pressure on Asian peers to end flat
The dollar recouped some of last week's losses on Monday as investors looked ahead to U.S. inflation data after Friday's mixed payrolls report sparked uncertainty about the size of a Federal Reserve rate cut next week. The yen weakened against the dollar after a four-day run of gains. It was last down 0.7% to 143.35 per dollar, after having touched a one-month high of 141.75 on Friday. Focus turned to Wednesday's U.S. inflation report as the next main indicator that could al...
Dollar recovers as traders scale back bets of big Fed rate cut
Indian Rupee strengthened against the US dollar on Friday amid a weaker American currency against major currencies overseas ahead of the US jobs data to be released later in the day, while US Federal Reserve Chair Jerome Powell struck a moderately dovish tone in his comments that suggesting Fed is more than likely to start its easing cycle later this year. However, an upward movement in crude oil prices, weak domestic equities and outflow of foreign capital have limited gains in rupee. Foreig...
Rupee strengthens against US dollar on Friday
The Indian rupee rose on Friday after disappointing U.S. private payrolls data fuelled expectations of a weaker jobs report, prompting traders to avoid the U.S. dollar. The rupee was at 83.9350 to the U.S. dollar at 9:30 a.m. IST, up from 83.9825 in the previous session. U.S. private employers hired the fewest number of workers in three and a half years in August and data for the prior month was revised lower, suggesting that the labour market was cooling down. The private payrolls d...
Rupee inches up on hopes of weak US jobs report
The dollar slid to a one-month trough versus the yen and a one-week low on the euro on Friday, as a mixed bag of U.S. job market indicators stirred caution ahead of a crucial monthly payrolls report later in the day. A report on Thursday showed the number of Americans filing new applications for jobless benefits declined last week as layoffs remained low. That helped allay fears that the labour market was deteriorating rapidly, after figures released the previous day showed private jobs gr...
Dollar sags to one-month low vs yen as payrolls data looms
Indian rupee strengthened against the US dollar on Thursday, tracking weak American currency at overseas market and after data showing a slowdown in the US labour market fuelled bets on a big rate cut from the Federal Reserve later this month. Moreover, drop in crude oil prices and foreign fund inflows have also supported rupee sentiments. Foreign Institutional Investors were net buyers in the capital markets on Wednesday, as they purchased shares worth Rs 975.46 crore, exchange data showed. ...
Rupee strengthens against US dollar on Thursday
The Indian rupee will be confined to a narrow trading range against the U.S. dollar over the coming year as the Reserve Bank of India continues to intervene in the market to shield the currency from volatility, a Reuters poll of FX analysts showed. The dollar fell more than 2% against other major currencies in August, providing breathing space for some emerging market ones. The rupee slipped to an all-time low of 83.97 to the dollar but is down only around 1% so far this year. That rela...
RBI to keep rupee in narrow trading range
The dollar dipped on Thursday as traders ramped up bets for a supersized rate cut from the Federal Reserve later this month, with the yen a notable outperformer on safe-haven demand as concerns over the U.S. economy's growth outlook resurfaced. Global markets have been on edge and stocks, in particular, badly bruised, after softer-than-expected U.S. data out this week reignited concerns that the growth outlook of the world's largest economy was less rosy than earlier thought ...
Dollar wobbles on rising bets of outsized Fed rate cut
Indian rupee strengthened against the US dollar on Wednesday, supported by weakening American currency overseas and after a sharp drop in crude oil prices on tepid global demand. Moreover, strong foreign fund inflows has also supported rupee sentiments. Foreign Institutional Investors were net buyers in the capital markets on Tuesday, as they purchased shares worth Rs 1,029.25 crore, exchange data showed. However, some gains were limited by sluggish trend in domestic equities and concerns ove...
Rupee strengthens against US dollar on Wednesday
The Indian rupee was little changed on Wednesday, as a slump in oil prices and the dovish Federal Reserve outlook countered the poor risk mood. The rupee was at 83.9575 to the U.S. dollar at 10:40 a.m. IST compared with 83.9625 in the previous session. Brent crude dipped in Asia, adding to Tuesday's near 5% drop, on concerns over the demand outlook. Indian equities dropped 0.7%, joining the selloff fuelled by worries over U.S. slowdown. "We know it takes a lot to move the ru...
Rupee takes comfort in oil prices, Fed outlook amid equity selloff
The safe-haven Japanese yen rallied on Wednesday while riskier currencies like the Australian dollar and sterling languished as traders ran for cover following the worst sell-off in almost a month on Wall Street. The catalyst was ostensibly some soft U.S. manufacturing data, which fanned worries about a hard landing for the world's biggest economy, with traders already nervous ahead of crucial monthly payrolls data on Friday. "Price action across global markets (is) exhibiting ...
Safe-haven yen rallies, Aussie sinks as markets brace for US payrolls test
The Indian rupee declined on Tuesday, tracking weak Asian peers, but the central bank's repeated intervention at current levels in the recent past meant that the losses were fairly limited. The rupee was at 83.9475 to the U.S. dollar at 11:02 a.m. IST, down from 83.9175 in the previous session. Asian peers were down 0.1% to 0.6%, and the dollar inched up against a basket of its major peers. The Reserve Bank of India has on many occasions over the last month intervened near the curre...
Rupee's decline capped by central bank's recent behaviour
Indian rupee weakened against the US dollar on Tuesday tracking firm American currency at overseas markets. Sentiments continue to remain dampened after data showed that the HSBC India Manufacturing PMI declining slightly to 57.5 in August and India's economic growth falling to a 15-month low of 6.7% for April-June quarter of 2024. Investors are now cautiously awaiting the US August payrolls report due on Friday to gauge the size of the Federal Reserve’s expected interest rate cut t...
Rupee weakens against US dollar on Tuesday
The dollar hovered near a two-week high on Tuesday ahead of a slew of economic data, including Friday's U.S. payrolls, that could influence the size of an expected interest rate cut from the Federal Reserve. The yen, meanwhile, broke a four-day losing streak against the dollar after media reports cited the Bank of Japan governor reiterating in a document submitted to a government panel on Tuesday that the central bank would keep raising interest rates if the economy and inflation perfo...
Dollar nudges at two-week highs; yen grabs spotlight
Indian rupee weakened against the US dollar on Monday amid easing crude oil prices and firm American currency at overseas markets, meanwhile latest US inflation data indicated that the US Federal Reserve will not opt for a larger rate cut at this month’s meeting. However, firm domestic equity market, foreign fund inflows and anticipation of active intervention by the Reserve Bank of India have capped the rupee's fall. Foreign Institutional Investors were net buyers in the capital ma...
Rupee weakens against US dollar on Monday
The Indian rupee weakened marginally on Monday and forward premiums declined, while market participants looked for cues on the pace of the Federal Reserve's rate cuts in a data-packed week. The rupee was at 83.8775 to the U.S. dollar at 10:29 a.m. IST compared to its previous close of 83.8625. Other Asian currencies were down between 0.2% and 0.5%, and the dollar index was little changed at 101.74. Traders await the U.S. ISM manufacturing and services prints, along with the JOLTS...
Rupee, forward premiums dip; cues on pace of Fed rate cuts awaited
The dollar edged down on Monday but remained within striking distance of its highest level in almost two weeks as investors' focus moved to a U.S. jobs report due at the end of this week. U.S. payrolls, due on Friday, will be crucial after Federal Reserve chair Jerome Powell pivoted from a battle against inflation to a readiness to protect against job losses. Analysts say the job figures will determine the magnitude of the Federal Reserve's expected rate cut. Markets have alread...
Dollar eases after hitting highest in two weeks, US job data looms
The record all-time high level of India’s forex reserves will create external sector resilience and boost economy across sectors, industry experts said on Saturday, as the country’s forex reserves surged $7.023 billion to touch a new high of $681.68 billion in the week ended August 23. Sanjeev Agrawal, President, PHD Chamber of Commerce and Industry, said that with the support of strategic policy initiatives and a diligent monetary policy stance, the forex has reached a r...
Record forex reserves to boost economy, promote domestic trade: Industry
Indian rupee strengthened against the US dollar on Friday, tracking firm trend in domestic equities, significant foreign fund inflows and muted American currency at overseas markets. Foreign Institutional Investors were net buyers in the capital markets on Thursday, as they purchased shares worth Rs 3,259.56 crore, exchange data showed. Meanwhile, MSCI is set to rebalance its indices today which is estimated to lead to net inflows worth $5.5 billion into the Indian stock market, also supporti...
Rupee strengthens against US dollar on Friday
The Indian rupee ended little changed on Friday as dollar demand from state-run banks offset the impact of likely inflows into local equities. The rupee closed at 83.8625 against the U.S. dollar, nearly flat compared to its close at 83.87 in the previous session. While most Asian currencies rallied between 2% to 6% in August, the rupee weakened 0.2% to log its second consecutive monthly decline. The currency touched its record low of 83.9725 and remained under pressure through most o...
Rupee ends flat on day, logs second consecutive monthly decline
The dollar traded near a one-week high versus major peers on Friday, on track to snap a five-week losing run, after robust economic data pared bets for aggressive Federal Reserve interest rate cuts. The euro languished close to a two-week low to the dollar as cooling inflation in Germany and Spain boosted the case for European Central Bank easing. The yen held near the closely watched 145 per dollar level after weakening on Thursday, as the greenback tracked a rise in U.S. Treasury yiel...
Dollar set to snap 5-week losing streak as Fed cut bets pared
Below the Quote on Rupee By Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities "Rupee traded strong, gaining 0.10rs to close at 83.86, as expectations of interest rate cuts continue to provide support, preventing the rupee from falling below 84.00. The strong demand around 84.00 keeps the rupee buoyant, with resistance seen at 83.75. The rupee is expected to trade in a positive range between 84.00-83.70. Friday’s US Core PCE price index c...
Quote on Rupee by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Indian rupee strengthened against the US dollar on Thursday tracking weakness of the American currency in the overseas market. Rupee sentiments improved further on firm domestic equities after National Securities Depository data showed that Foreign Institutional Investors purchased Indian equities worth over $1.6 billion between August 16 and 27. Meanwhile investors are awaiting cues from the US Gross Domestic Product and the US Personal Consumption Expenditure inflation data, which could swa...
Rupee strengthens against US dollar on Thursday
The Indian rupee strengthened on Thursday, tracking a similar move in its Asian peers and in anticipation of MSCI-related inflows as domestic equities' weightage in the index is set to rise. The rupee closed at 83.8700 against the U.S. dollar at, up 0.1% from 83.9525 in the previous session. Asian currencies rose, while the dollar index slipped to 100.89, before recovering through the session. Indian equities' increased weightage in MSCI's emerging market index, effective...
India rupee gains, tracking Asian peers and on hopes of equity inflows
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