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Indian Rupee strengthened against the US dollar on Friday, tracking weakness in the American currency at overseas markets and fresh foreign fund inflows into Indian capital market. Foreign Institutional Investors were net buyers in the capital markets on Thursday as they purchased shares worth Rs 1,371.79 crore, exchange data showed. Moreover, softening crude oil prices also supporting rupee sentiments. Meanwhile, the Reserve Bank of India released the minutes of the Monetary Policy Committee...
Rupee strengthens against US dollar on Friday
The Indian rupee rose in early trade on Friday, boosted by gains in most of its Asian peers ahead of closely watched remarks from Federal Reserve Chair Jerome Powell later in the day. The rupee was at 83.8850 against the U.S. dollar as of 10:10 a.m. IST, higher than its close of 83.9525 in the previous session. Asian currencies were mostly higher on the day, with the offshore Chinese yuan up 0.1% at 7.13, while the Thai baht rose 0.4% to lead gains. The dollar index was down sligh...
Rupee lifted by gains in Asian peers, oil firms' bids cap upside
The yen rose on Friday as traders considered comments from Bank of Japan Governor Kazuo Ueda, who sought to calm lingering nerves after a surprise rate hike last month, while markets braced for a speech from Federal Reserve Chair Jerome Powell. With the spotlight squarely on the central bankers, Ueda appeared first in Japan's parliament to explain the rate increase that had rattled investors. The yen was 0.38 % higher at 145.75 per dollar on Friday in choppy trading after Ueda reaff...
Yen firms as BOJ's Ueda flags readiness to hike; markets brace for Powell
Indian rupee weakened against US dollar on Thursday, tracking firm American currency at overseas markets and dollar demand from importers. Meanwhile, growing trade deficit and foreign fund outflows have also dampened sentiments. Foreign Institutional Investors were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 799.74 crore, exchange data showed. Now, investors’ focus will be on the US Fed chairman's speech at Jackson Hole Symposium for further cue...
Rupee weakens against US dollar on Thursday
The Indian rupee is likely to open little changed on Thursday after the mostly dovish U.S. Federal Reserve minutes failed to lift Asian peers. The 1-month non-deliverable forward indicated that the rupee will open barely changed from 83.9225 in the previous session. The recent relief for the rupee proved short lived with the local currency now back to within spitting distance of the lifetime low of 83.9725. The rupee, having managed to climb to 83.7550 on Tuesday, has come under renewed...
Rupee to ignore dovish Federal Reserve minutes; bias on downside
The dollar traded near the lowest in more than a year against the euro and sterling on Thursday as a dovish Federal Reserve and fresh signs of weakness in the U.S. job market backed the case for interest rate cuts. The dollar sagged below the closely watched 145 yen mark as U.S. Treasury yields slid, ahead of weekly jobless claims data later in the day and a hotly anticipated speech by Fed Chair Jerome Powell at the central bank's annual Jackson Hole symposium on Friday. The dollar ...
Dollar doldrums deepen on dovish Fed tone before Jackson Hole
Indian rupee weakened against the US dollar on Wednesday, tracking foreign fund outflows from the capital market. Foreign institutional investors were net sellers in the capital markets on Tuesday, offloading shares worth Rs 1,457.96 crore, exchange data showed. Meanwhile, investors are cautiously awaiting the US Fed's July policy meeting minutes on Wednesday and Fed Chair Jerome Powell's keynote speech at the Jackson Hole symposium later in the week. However, muted American currency ...
Rupee weakens against US dollar on Wednesday
The Indian rupee weakened on Wednesday pressed by importers' dollar bids, while forward premiums nudged up with traders anticipating a sharper rise if revised U.S. payroll data rekindles concerns about an economic slowdown. The rupee was at 83.86 against the U.S. dollar as of 10:15 a.m. IST, compared to its previous close of 83.7925. The currency had touched a two-week high of 83.7550 in the previous session, but pulled back as importers bought dollars, traders said. The ru...
Rupee slips; forward premiums biased higher ahead of US payroll revisions
The dollar slipped to its lowest this year versus the euro on Wednesday as traders braced for potentially crucial revisions to U.S. payrolls data later in the day, ahead of a speech by Federal Reserve Chair Jerome Powell at the end of the week. The U.S. currency also dipped below the closely watched 145 yen level and hovered close to the more-than-one-year low to sterling reached overnight. Pressure notably came from U.S. bond yields, which hit their lowest since Aug. 5, when yields crashe...
Dollar hits lowest this year vs euro as traders brace for jobs data, Jackson Hole
Indian rupee strengthened against the US dollar on Tuesday, tracking firm domestic equity markets and softening crude oil prices. Meanwhile, investors are focusing on minutes of the Federal Reserve’s July policy meeting and the US Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole Economic Policy Symposium as the market is widely expecting a steep interest rate cut. However, some gains were limited by foreign fund outflows from capital markets. Foreign institutional ...
Rupee strengthens against US dollar on Tuesday
The Indian rupee is expected to inch higher on Tuesday after the dollar index slumped to its lowest level in seven months, but is likely to underperform its regional peers. The 1-month non-deliverable forward indicates that the rupee will open at 83.85 to the U.S. dollar, compared to its previous close of 83.87. The dollar index dropped to 101.76 in Asian hours, the lowest in more than seven months. Asian currencies, meanwhile, added to Monday's advance, with most up between 0.3% to...
Rupee likely to underperform regional peers amid dollar's slide
The dollar hung near a seven-month low on Tuesday on wagers the U.S. central bank will start cutting interest rates from next month, with traders preparing for comments from Federal Reserve Chair Jerome Powell on Friday. The weakness in the dollar lifted the euro to its highest this year, while sterling was perched near a one-month peak. The emerging markets currency index was also at a record high. The Japanese yen was a shade stronger at 146.50 per dollar, hovering close to the near t...
Dollar at seven-month low on rate cut bets, Jerome Powell speech in focus
The Indian rupee rose to its highest level in nearly two weeks on Monday as the dollar index declined to its lowest level in six months, sparking broad gains in Asian currencies. The rupee was at 83.90 as of 11:10 a.m. IST, up about 0.05% compared with its previous close at 83.94 on Friday. The local currency rose to 83.85 in early trading, its highest level since Aug. 6. The dollar index fell 0.3% to 102.1, its lowest level since mid-January, as investors anticipated a dovish tilt e...
Rupee touches near two-week high on broad dollar weakness
Indian rupee strengthened against the US dollar in early trade on Monday, tracking firm domestic equities, easing Crude oil prices and fresh foreign fund inflows into capital markets. Foreign institutional investors were net buyers in the capital markets on Friday, as they purchased shares worth Rs 766.52 crore, according to exchange data. Rupee improved further on weakening American currency at overseas market and as investors are awaiting the US Federal Reserve Chair Jerome Powell's spe...
Rupee strengthens against US dollar in early trade on Monday
The U.S. dollar was struggling to make headway against its peers on Monday, though it traded in a tight range as investors awaited fresh catalysts this week that could offer clues on the outlook for U.S. interest rates. Minutes of the Federal Reserve's July policy meeting and a speech from Chair Jerome Powell at Jackson Hole are likely to be the main drivers of currency movement this week, which will also see inflation data from Canada and Japan alongside Purchasing Managers' Index...
Dollar in holding pattern ahead of FOMC minutes, Powell comments
The Indian rupee lingered in a tight band before closing nearly flat on Friday as most of its Asian peers reversed early losses and mild dollar sales from foreign banks helped the currency hold above its all-time low. The rupee closed at 83.94 against the U.S. dollar, nearly unchanged from its close of 83.9475 in the previous session. The local unit was nearly flat week-on-week as well. Benchmark equity indexes, the BSE Sensex and Nifty 50, closed higher by about 1.6% each after f...
Rupee holds above record low to end flat on day and week
Indian rupee weakened against the US dollar on Friday as a surge in US retail sales coupled with a decline in new unemployment claims bolstered US bond yields. Moreover, concerns over elevated crude oil prices, subdued domestic macroeconomic data and foreign fund outflows have also dampened sentiments. Foreign institutional investors were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs 2,595.27 crore, exchange data showed. Data released on Wednesday showed t...
Rupee weakens against US dollar on Friday
The dollar hovered near a two-week high to the yen after its biggest one-day gain against major peers in four weeks as firm U.S. economic data all but eliminated fears about a recession. The greenback was especially strong against the Japanese currency thanks to a surge in Treasury yields as traders pared back bets the Federal Reserve would be forced into aggressive easing next month. Risk-sensitive currencies like sterling were firm as the improved economic outlook spurred a rally in e...
Dollar firm after US data quells recession fears
The U.S. dollar rose against a basket of currencies on Thursday, after data showed lower than expected jobless claims and a rise in retail sales as markets look for signs of how the broader health of the economy will influence the size of upcoming rate cuts. The dollar index, which tracks the U.S. currency against six major peers, was at 102.96, up 0.36%.
Dollar rises after retail sales and jobs data
The Indian rupee ended nearly flat on Wednesday as U.S. dollar demand from importers and foreign banks eroded the currency's early gains that came due to growing expectations of rate cuts by the Federal Reserve. The rupee closed at 83.9475 against the dollar, little changed from its close at 83.97 in the previous session. While the currency rose to a high of 83.9025 early in the session, traders said it succumbed to pressure from dollar bids by foreign banks and importers. ...
Rupee gives up nearly all gains, importers` dollar demand weighs
Indian rupee strengthened against the US dollar in early trade on Wednesday after softer US PPI data reinforced expectations that the US Federal Reserve will deliver a series of rate cuts this year. Meanwhile, investors are awaiting cues from the CPI data from the US scheduled to be released later in the day. However, some gains were limited by foreign fund outflows from capital markets. Foreign institutional investors (FIIs) were net sellers in the capital markets on Tuesday as they offloade...
Rupee strengthens against US dollar on Wednesday
The dollar remained on the back foot on Wednesday after tumbling versus major peers overnight as a benign reading for U.S. producer prices reinforced bets on Federal Reserve interest rate cuts this year. New Zealand's dollar dropped sharply from a four-week high after the Reserve Bank of New Zealand reduced the key cash rate, surprising some market participants. Other risk-sensitive currencies remained firm after the unexpected softening in U.S. inflation buoyed equities, even with ...
Dollar sags after benign US inflation data; kiwi slides on rate cut
The Indian rupee ended nearly unchanged on Tuesday as intervention by the central bank helped avert a fall to the key psychological support level of 84 to the dollar. The rupee closed at 83.97, nearly unchanged from its close at its all-time low of 83.9725 in the previous session. The currency hovered near its record low through the session. The Reserve Bank of India likely sold dollars, via state-run banks, near 83.97 levels to support the local currency, traders said. With the RBI ...
Rupee holds above 84 per dollar as cenbank retains grip
Indian rupee strengthened against the US dollar in early trade on Tuesday after India’s retail inflation eased to 3.54% which was the lowest in last 5 years and has dipped below RBIs targeted rate of 4%, while direct tax mop up rose by 22.5% over last year and India's Industrial Production (IIP) growth rate stood at 4.2% for June-24. However, weak domestic equities and foreign fund outflows limited the gains for the local unit. Foreign institutional investors (FIIs) were net sellers...
Rupee strengthens against US dollar on Tuesday
The dollar was in limbo on Tuesday as investors waited to see how U.S. economic data affected the chance of outsized rate cuts, while a rally in Japanese stocks helped staunch the bleeding in yen carry trades. The greenback was idling at 147.17 yen, having briefly touched a one-week high of 148.23 overnight before profit-taking emerged. The euro stood at $1.0931, after creeping higher overnight and nearer to resistance at $1.0944 and $1.0963. The dollar index was flat at 103.08. Prod...
Dollar tenses for data verdict on rate cut risks
The Indian rupee slipped to its weakest closing level on Monday, pressured by a decline in its Asian peers while likely intervention by the Reserve Bank of India ensured the currency did not weaken more. The rupee closed at 83.9725 against the U.S. dollar, after closing at 83.9550 in the previous session. The currency hovered in a narrow range between 83.95 and 83.97 during the session. The RBI likely sold dollars to limit further depreciation in the currency, traders said. Most Asia...
Rupee slips to record closing low, tracking decline in Asia FX
Indian rupee weakened against US dollar on Monday ahead of US inflation print due on Wednesday, which will influence expectations on interest rate cuts by the Federal Reserve. Additionally, India's Wholesale Price Index inflation, due on August 14, which is expected to come in at 2.39% lower than the previous 3.36%. However, some falls were limited by interventions from the Reserve Bank of India, firm domestic equities and foreign fund inflows into capital market. Foreign institutional in...
Rupee weakens against US dollar on Monday
The yen was a tad softer against the dollar in trading thinned by a Japanese holiday on Monday, with market participants still ambivalent about the odds of a big Fed rate cut next month. The respite follows a tumultuous week that began with a massive selloff across currencies and stock markets, driven by worries over the U.S. economy and the Bank of Japan's hawkishness. Last week ended calmer, with Thursday's stronger-than-expected U.S. jobs data leading markets to pare bets for...
Yen slips, markets brace for US inflation data
The Indian rupee logged its sixth straight weekly fall but ended little changed on Friday, as corporate dollar demand offset the impact of a rebound in regional currencies and bets of central bank intervention. The rupee closed at 83.9550 to the U.S. dollar, slightly up from its previous close of 83.9625. The currency fell 0.2% week-on-week, its worst weekly fall in more than two months. "The Reserve Bank of India (RBI) has been very watchful of the rupee's movement and h...
Rupee ends little changed despite Asia rebound; logs sixth weekly fall
Indian rupee strengthened against the US dollar on Friday tracking weakness in the American currency. Further, hopes for a rate cut from the Federal Reserve in September also supported rupee sentiments. However, a surge in crude oil prices amid growing Middle East tensions and foreign fund outflows from the capital market have restricted the up-move. Foreign Institutional Investors (FIIs) were net sellers in the capital markets, as they offloaded shares worth Rs 2,626.73 crore on Thursday, ex...
Indian rupee strengthens against US dollar on Friday
The dollar hovered close to a one-week high against major rivals on Friday, after the biggest drop in U.S. jobless claims in close to a year allayed fears of a looming economic downturn. The U.S. currency extended gains against the Japanese yen to a fourth day, buoyed by a spike in Treasury yields following Thursday's firmer-than-expected employment data, which spurred a paring back in bets for Federal Reserve interest rate cuts this year. The yen and fellow safe-haven currency the ...
Dollar near one-week high on jobs relief; yen sags
Below the Quote on Rupee by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities "The rupee traded sideways near 83.96, with the dollar strengthening to 102.95$. USD/JPY was volatile around 146.20$. Capital markets were weak, with market breadth remaining flat, particularly on an RBI policy day, as participants awaited cues from the USD/JPY movement. In the short term, the rupee is expected to continue trading within a range of 83.80-84.15."...
Quote on Rupee by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
The Indian rupee ended at its lowest closing level on record as global risk appetite remained shaky but dollar sales by state-run banks, likely on behalf of the central bank, curbed further losses, traders said. The rupee settled at 83.9625 against the U.S. dollar, against 83.9550 at previous close. India's benchmark equity indices, the BSE Sensex and Nifty 50, closed lower by 0.7% each, tracking weakness in global stocks. Europe's continent-wide STOXX 600 index fell 1% in ea...
Rupee ends at record closing low as risk appetite wavers
The yen firmed on Thursday after a sharp drop in the previous session in a volatile week that has left sentiment fragile as investors weigh the unwinding of popular carry trades and ponder the rate path Japan's central bank is likely to take. The yen was last 0.53% higher at 145.95 per dollar, having dropped 1.6% on Wednesday after the Bank of Japan's Deputy Governor Shinichi Uchida played down the chance of a near-term hike in interest rates. The Japanese currency started the w...
Yen firms after sharp drop as traders assess Japan's rate path
Indian Rupee traded flat against US dollar on Wednesday tracking firm domestic equities and expectations of likely dollar selling by the Reserve Bank of India (RBI) to support the rupee after its steep fall in the previous session, while the RBI has asked some large banks to refrain from large trading bets against rupee. RBI's rate-setting panel started its three-day deliberations for the next set of bi-monthly monetary policy amid expectations of status quo on benchmark interest rate in ...
Rupee trades flat against US dollar on Wednesday
The outlook for the Indian rupee has barely changed from last month as the Reserve Bank of India's interventions keep the currency, deemed expensive compared with its peers, in a tight range, according to a Reuters poll of foreign exchange analysts. A sharp fall in global equities related to sudden liquidation of carry trades, where investors borrow in cheap currencies to invest in higher yielding assets elsewhere, pushed the rupee to an all-time low of 83.96 per dollar on Tuesday.&nbs...
RBI's firm grip to keep rupee anchored in narrow range
The dollar was firmer on Wednesday, surging as much as 2% against the yen after Bank of Japan Deputy Governor Shinichi Uchida said the central bank won't raise interest rates when financial markets are unstable. The yen was last down over 1.5% at 146.70 per dollar having touched session lows of 147.50 immediately following Uchida's comments, as investors were still grappling with a massive shakeout in assets at the start of the week driven by recession fears and unwinding of popula...
Yen slides after BOJ official says no rate hikes if markets volatile
Indian rupee strengthened against the US dollar on Tuesday tracking the rebound in the domestic equity market, even as foreign investors sold equities on fear of possible recession in the United States and escalation of geopolitical tensions in the Middle East. Foreign Institutional Investors were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 10,073.75 crore, exchange data showed. Moreover, weakness in the American currency and growing expectations of deeper ...
Indian rupee strengthens against US dollar on Tuesday
The U.S. dollar was nursing steep losses on Tuesday, with the yen on the back foot after a sharp rise in the previous session as traders contend with unwinding of popular carry trades and the prospect of deep rate cuts from the Federal Reserve. The yen was 1% lower on Tuesday at 145.78 per dollar in early trading, after rising for five straight sessions and touching a seven-month high of 141.675 on Monday. The yen was also lower against the Australian dollar, euro and sterling. Last wee...
Squeeze on carry trades leaves currency markets on edge
Indian rupee weakened against US dollar on Monday tracking selloff in US and Asian equities, while a disappointing US jobs report and recession worries also fuelled worries of foreign fund outflows from India and other emerging markets. Foreign Institutional Investors were net sellers in the capital markets on Friday as they offloaded shares worth Rs 3,310.00 crore, exchange data showed. Rupee fell further due to escalating situation in the Middle East following the assassination of Hamas lea...
Rupee weakens against US dollar on Monday
The Indian rupee fell to an all-time low at the open on Monday, on worries that the risk off prompted by U.S. recession worries could lead to foreign outflows. The rupee opened at 83.78 to the U.S. dollar compared to its previous close of 83.75, and slipping past the lifetime low of 83.7525 hit on Friday. The selloff in U.S. and Asian equities following a disappointing jobs report spurred worries of foreign outflows from India and other emerging markets. The sharp selloff may prompt ...
Indian rupee drops to lifetime low on outflow worries
Japan's yen hit mid-January highs against the dollar at Asia open on Monday, as markets extended moves triggered last week after weak U.S. labour data stoked recession worries and expectations of deeper rate cuts by the Fed. Friday's job data, coming on top of a string of weak earnings reports from large technology firms and heightened concerns over the Chinese economy, drove a global selloff in stock markets, oil and high-yielding currencies as investors sought the safety of cash....
Yen rises to 7-month highs as US slowdown fears carry over
Below the Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities "The rupee remained in a narrow range near 83.76, showing a minor decline of 0.02rs. The dollar weakened, falling below 103$ from a previous level of 104.20$. Capital markets were under pressure, with the Nifty index down by more than -1.15%, contributing to fund outflow pressure on the rupee. The upcoming Non-Farm Payroll and unemployment data in the US will likel...
Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Indian rupee was trading flat against the US dollar on Friday tracking weak domestic equities ahead of July US jobs report due later today alongside remarks from Fed policymakers, while worries about recession in the United States after weak US manufacturing data makes rupee under pressure. Rising crude oil prices overseas also pressurizing rupee sentiments. A monthly survey released on Thursday showed India's manufacturing sector growth eased slightly to 58.1 in July from 58.3 in June. M...
Rupee trades flat against US dollar on Friday
The Indian rupee is likely to hover near its all-time low at open on Friday, unable to benefit from a drop in U.S. bond yields, with traders expecting intervention from the Reserve Bank of India to continue limiting the currency's losses. Non-deliverable forwards indicate rupee will open at around 83.73-83.74 against the U.S. dollar, marginally weaker than its close at 83.7175 in the previous session. The rupee had declined to its all-time low of 83.7450 on Wednesday. The local c...
Rupee to hover near record low, central bank counted on to support
The safe-haven Japanese yen and Swiss franc traded near multi-month highs against the dollar on Friday after an unexpected slump in U.S. manufacturing fuelled fears of a downturn, sending stocks and bond yields tumbling. Sterling languished at a one-month low after plunging almost 1% overnight as the Bank of England kicked off its interest-rate cutting cycle in a finely balanced decision. The euro also sagged near a one-month trough following dovish comments from the European Central Bank....
Safe-haven yen, Swiss franc soar as US slowdown fears flare
Indian rupee weakened against the US dollar on Thursday, due to rising crude oil prices and foreign fund outflows from the capital market. Foreign institutional investors were net sellers in the capital markets on Wednesday and offloaded shares worth Rs 3,462.36 crore, exchange data showed. Rupee fell further after the killing of a Hamas leader in Iran raised the threat of a wider Middle East conflict. However, some losses were limited by firm domestic equities after the US Federal Rese...
Rupee weakens against US dollar on Thursday
The dollar rallied on Thursday after falling the previous day as central banks continued to roil currency markets, while sterling hit a three-week low ahead of a finely poised Bank of England decision. The dollar index, which tracks the currency against six peers, was up 0.29% at 104.35. It fell 0.4% the previous day after the Federal Reserve held rates steady but opened the door to reducing borrowing costs in September. Chris Turner, head of global markets at ING, said geopolitical ten...
Dollar bounces after Fed decision while pound slides before BoE
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