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About 85 per cent of the world’s cryptocurrencies are even worth less than one cent, according to a report on Monday. The total number of cryptocurrencies has been floating between 8,500 and 10,000, with new tokens being launched every time a bull run in the crypto space begins. Currently, the total number of cryptocurrencies remains at a high of 9,861. However, most of them have little or practically no value. As per data analysis by AltIndex.com, 85 per cent of all cryp...
About 85 pc of world`s cryptocurrencies are not even worth a cent
India's Trade Minister Piyush Goyal said on Monday it is time for the Indian rupee to appreciate on the back of inflows in debt and equity markets. "I believe India's currency should appreciate now. What else will we do with $700 billion (forex reserves)," Goyal said at an event in Mumbai.
India`s trade minister says time for Indian rupee to appreciate
Indian rupee strengthened against the US dollar on Monday followed by steady dollar in the overseas market and a drop in crude oil prices, even as stronger than expected US jobs growth data dashed hopes of aggressive rate cuts in the coming months. Investors are awaiting inflation data and comments from US Federal Reserve officials for further cues on interest rate path. The increase in the country's forex reserves to a new all-time high of $704.88 billion on Friday has also supported the...
Rupee strengthens against US dollar on Monday
Japan's yen fell to its lowest in nearly two months and other major currencies too were grappling with losses early on Monday as the dollar extended a rally sparked by Friday's strong U.S. jobs data and an escalation in the Middle East conflict. The yen fell marginally to hit 149.10 per dollar, its weakest level since Aug. 16, before paring losses to trade around 148.40. That came on top of a more than 4% decline last week, its biggest weekly percentage decline since early 2009. ...
Dollar holds gains made on US jobs data and Middle East flare-up
The Indian rupee is expected to hold near its all-time low on Monday after a blowout U.S. jobs report prompted investors to almost fully price out the likelihood of the Federal Reserve opting for one more large rate cut at their next meeting. The 1-month non-deliverable forward indicated that the rupee will open at 83.97-83.98 to the U.S. dollar compared with 83.9725 in the previous session and just shy of the lifetime low of 83.9850 hit on Sept. 5. A "similar script" wi...
Rupee to remain moored at 84/USD after 50 bps Fed rate cut priced out
Indian rupee is trading flat against the US dollar on Friday tracking massive outflow of foreign funds from capital markets as foreign investors rushed to sell Indian equities as Chinese shares turned bullish after a slew of stimulus measures to revive the economic growth. Foreign Institutional Investors were net sellers in the capital markets on Thursday, offloading shares worth Rs 15,243.27 crore on a net basis in the cash segment, exchange data showed. Foreign Institutional Investors have ...
Rupee trades flat against US dollar on Friday
Indian rupee weakened against the US dollar on Thursday tracking weakness in domestic equities and spike in crude oil prices amidst concerns over escalating tension in the Middle East, while robustness in the US jobs market backed the idea that the US Federal Reserve doesn’t need to rush to cut interest rates. Moreover, unabated foreign fund outflows and strengthening American currency have also weighed on rupee sentiments. Foreign Institutional Investors were net sellers in the capital...
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 weakened by 0.09rs, closing at 83.79 as volatility in the dollar index increased, driven by reactions in Asian markets to Middle East tensions and volatility in the Japanese market. The Indian index witnessed profit booking, primarily led by Reliance and the banking sector, contributing to continued rupee weakness from the 83.50 zone. Support for the rupee is s...
Quote on Rupee by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Indian rupee weakened against the US dollar on Monday tracking weak domestic equities and rising crude oil prices, while investors are awaiting comments from Federal Reserve Chair Jerome Powell for interest rate cut clues and domestic manufacturing PMI (Purchasing Manager's Index) numbers to be released this week. Moreover, foreign funds outflows in the market also weighed on rupee sentiments. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday as they...
Rupee weakens against US dollar on Monday
India's foreign exchange reserves surged to an all-time high of $692.3 billion as of September 20, 2024, driven by strong foreign investment and inflows. Despite this, the rupee faced challenges, ending lower at 83.70 against the dollar, pressured by month-end import demand and speculative trades. The Reserve Bank of India intervened to manage volatility, while global market shifts also impacted the rupee’s performance. This rise in reserves comes amid broader trends in Asian curren...
India`s Forex Reserves at Record High Amid Rupee Struggles By Amit Gupta , Kedia Advisory
The Indian rupee ended lower on Friday pressured by month-end dollar demand from importers, with traders expecting the future path of U.S. monetary policy and the Chinese yuan to be key drivers of the currency's trajectory. The rupee closed at 83.70 against the U.S. dollar, compared to its previous close of 83.6425. The currency slipped 0.1% for the week. The dollar index was down slightly at 100.5 while broader Asian currencies were mixed, with the Chinese yuan retreating from a 16...
Rupee ends weaker; Fed policy path, yuan price action in focus
The dollar wobbled on Friday, poised for a fourth straight week of declines as investors weighed U.S. data to gauge the pace of interest rate cuts, while China's spree of stimulus measures kept risk-sensitive currencies aloft. Data on Thursday suggested the U.S. labour market remained fairly healthy, while other reports showed corporate profits increased at a more robust pace than initially thought in the second quarter, highlighting an upbeat economic outlook. The dollar, however, ...
Dollar drifts, risk-sensitive currencies lifted by China optimism
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
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 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
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