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Dwindling hopes of 50 bps Fed rate cut may push rupee to all-time low 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
Dwindling hopes of 50 bps Fed rate cut may push rupee to all-time low
Source: Reuters
2024-09-12 09:44:05 am
Indian importers favour FX options as rupee holds steady, premiums soar 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 importers favour FX options as rupee holds steady, premiums soar
Source: Reuters
2024-09-11 02:27:22 pm
Rupee strengthens against US dollar on Wednesday 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
Rupee strengthens against US dollar on Wednesday
Source: Accord Fintech
2024-09-11 12:00:25 pm
Rupee weakens against US dollar on Tuesday 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
Rupee weakens against US dollar on Tuesday
Source: Accord Fintech
2024-09-10 12:17:51 pm
Rupee strengthens against US dollar on Monday 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
Rupee strengthens against US dollar on Monday
Source: Accord Fintech
2024-09-09 12:23:56 pm
Rupee ducks risk-aversion pressure on Asian peers to end flat 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
Rupee ducks risk-aversion pressure on Asian peers to end flat
Source: Reuters
2024-09-09 08:56:44 am
Rupee strengthens against US dollar on Friday 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
Rupee strengthens against US dollar on Friday
Source: Accord Fintech
2024-09-06 11:58:09 am
Rupee inches up on hopes of weak US jobs report 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
Rupee inches up on hopes of weak US jobs report
Source: Reuters
2024-09-06 10:14:57 am
Rupee strengthens against US dollar on Thursday 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
Rupee strengthens against US dollar on Thursday
Source: Accord Fintech
2024-09-05 11:49:34 am
RBI to keep rupee in narrow trading range 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
RBI to keep rupee in narrow trading range
Source: Reuters
2024-09-05 09:42:49 am
Indian central bank likely selling dollars to prevent rupee from dipping past 84, traders say  The Reserve Bank of India was likely selling U.S. dollars on Thursday to prevent the rupee from weakening past the key psychological level of 84, four traders told Reuters. The rupee was quoting at 83.9675 per U.S. dollar compared to 83.9650 in the previous session. The rupee "has not caught any relief" from the "helpful Asia cues" and again needs the help of RBI, a currency trader at a mid-sized private sector bank said. Other Asian currencies were higher o...
Indian central bank likely selling dollars to prevent rupee from dipping past 84, traders say
Indian central bank likely selling dollars to prevent rupee from dipping past 84, traders say
Source: Reuters
2024-09-05 09:39:59 am
Rupee strengthens against US dollar on Wednesday 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
Rupee strengthens against US dollar on Wednesday
Source: Accord Fintech
2024-09-04 12:45:38 pm
India central bank likely intervening to prevent rupee from slipping to record low, traders say India's central bank was selling dollars at the 83.97 level on Wednesday to keep the rupee from dropping to a lifetime low, three traders told Reuters. The rupee was at 83.9650 to the U.S. dollar, avoiding a dip past the lifetime low of 83.9725 hit in the first week of August. "Consistently seeing offers (on dollar/rupee) at 83.97 (on interbank order matching system) and from brokers," a currency trader at a bank said. "RBI yet again does not want to see 84."
India central bank likely intervening to prevent rupee from slipping to record low, traders say
India central bank likely intervening to prevent rupee from slipping to record low, traders say
Source: Reuters
2024-09-04 12:41:36 pm
Rupee takes comfort in oil prices, Fed outlook amid equity selloff 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
Rupee takes comfort in oil prices, Fed outlook amid equity selloff
Source: Reuters
2024-09-04 11:22:11 am
Rupee's decline capped by central bank's recent behaviour 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
Rupee's decline capped by central bank's recent behaviour
Source: Reuters
2024-09-03 02:11:18 pm
Rupee weakens against US dollar on Monday 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
Rupee weakens against US dollar on Monday
Source: Reuters
2024-09-02 11:33:47 am
Rupee, forward premiums dip; cues on pace of Fed rate cuts awaited 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
Rupee, forward premiums dip; cues on pace of Fed rate cuts awaited
Source: Reuters
2024-09-02 08:51:29 am
FPIs buying in Indian debt market as rupee remains stable this year Foreign portfolio investors (FPIs) have increased buying in the Indian debt market because the rupee has been stable this year and the stability is expected to continue, market watchers said on Saturday.  Bulk of the buying that FPIs are doing now are through the ‘primary market and others’ category. In the cash market, they have been consistent sellers because of the elevated valuations. In August, FPIs invested Rs 7,320 crore in equity compared to Rs 32,365 crore in J...
FPIs buying in Indian debt market as rupee remains stable this year
FPIs buying in Indian debt market as rupee remains stable this year
Source: IANS
2024-08-31 03:52:54 pm
Rupee strengthens against US dollar on Friday 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
Rupee strengthens against US dollar on Friday
Source: Accord Fintech
2024-08-30 11:45:50 am
Rupee ends flat on day, logs second consecutive monthly decline 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
Rupee ends flat on day, logs second consecutive monthly decline
Source: Reuters
2024-08-30 10:43:17 am
Quote on Rupee by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities 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
Quote on Rupee by Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Source: LKP securities Ltd
2024-08-29 05:34:14 pm
Rupee strengthens against US dollar on Thursday 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
Rupee strengthens against US dollar on Thursday
Source: Accord Fintech
2024-08-29 11:45:22 am
India rupee gains, tracking Asian peers and on hopes of equity inflows 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
India rupee gains, tracking Asian peers and on hopes of equity inflows
Source: Reuters
2024-08-29 09:10:02 am
Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities Below the Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities   "The rupee weakened by 0.04 rupees, closing at 83.96, despite a drop in WTI crude prices from $77 to $74.60. The dollar's rise from $100.40 to $100.80 added pressure on the rupee. Market expectations have already factored in a 0.25 bps rate cut by the Fed, suggesting further rupee support may require signals of a more aggressive cut. With limited positive catal...
Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Source: LKP securities Ltd
2024-08-28 05:19:40 pm
Rupee weakens against US dollar on Wednesday Indian rupee weakened against the US dollar on Wednesday, driven by a muted trend in domestic equities and firm American currency at overseas markets. Meanwhile, investors are remained cautious and await the release of key US inflation report later in the week, which might provide insights on size of a likely September rate cut. However, some losses were limited by expectations of Reserve Bank of India (RBI) intervention and foreign fund inflows into Indian capital market. Foreign Institution...
Rupee weakens against US dollar on Wednesday
Rupee weakens against US dollar on Wednesday
Source: Accord Fintech
2024-08-28 12:25:52 pm
Rupee may weaken slightly, tracking peers; RBI, Fed view key The Indian rupee is expected to open marginally lower on Wednesday, in the wake of a decline in other Asian currencies, and is likely to hold a narrow range amid the central bank's intervention. The one-month non-deliverable forward indicated that the rupee will be a tad lower than its close of 83.9250 to the U.S. dollar in the previous session. The rupee has been directionless amid depressed volatility. Most market participants reckon its breakout from the current narrow range, whe...
Rupee may weaken slightly, tracking peers; RBI, Fed view key
Rupee may weaken slightly, tracking peers; RBI, Fed view key
Source: Reuters
2024-08-28 08:45:46 am
Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities Below the Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities   "The rupee traded within a narrow range of 83.90 to 83.94, with support coming from continued fund flows into the capital markets. Despite the ongoing Middle East conflict, which keeps the rupee under pressure, the capital markets have provided a stabilizing influence. Interestingly, the rupee has not shown much positive movement despite the weakening of the dol...
Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Quote on Rupee from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
Source: LKP securities Ltd
2024-08-27 04:55:46 pm
Rupee weakens against US dollar on Tuesday Indian rupee weakened against the US dollar on Tuesday, driven by elevated crude oil prices followed by increased geopolitical tensions in the Middle East. However, some losses were limited by optimism for imminent US interest rate cuts and 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 483.36 crore, exchange data showed. India’s weightage in the MSCI Global Standard Ind...
Rupee weakens against US dollar on Tuesday
Rupee weakens against US dollar on Tuesday
Source: Accord Fintech
2024-08-27 12:01:43 pm
Rupee to wrestle with weak Asian leads, jump in oil prices The Indian rupee is expected to largely struggle on Tuesday amid a decline Asian currencies, weak risk appetite and higher oil prices. The 1-month non-deliverable forward indicated that the rupee will slightly weaker-to-flat to the U.S. dollar from its previous close of 83.90. The rupee was on Monday unable to take advantage of Federal Reserve Chair Jerome Powell's dovish shift at the Jackson Hole gathering last week. The currency had opened at 83.80, before dollar demand from impor...
Rupee to wrestle with weak Asian leads, jump in oil prices
Rupee to wrestle with weak Asian leads, jump in oil prices
Source: Reuters
2024-08-27 08:49:25 am
Rupee strengthens against US dollar on Monday Indian rupee strengthened against the US dollar on Monday, tracking muted American currency in the overseas market following US Fed Chair Jerome Powell's recent speech at the Jackson Hole meeting, where he said that time has come for policy to adjust, indicating possible US rate cuts in September. Rupee improved further on foreign fund inflows. Foreign Institutional Investors were net buyers in the capital markets on Friday, as they purchased shares worth Rs 1,944.48 crore, according to e...
Rupee strengthens against US dollar on Monday
Rupee strengthens against US dollar on Monday
Source: Accord Fintech
2024-08-26 11:39:02 am
Rupee to rise after Powell reinforces expectations of Fed rate cut in September The Indian rupee is expected to rise on Monday, after U.S. Federal Reserve Chair Jerome Powell comments nearly confirmed a September rate cut, spurring a further drop in the dollar. The 1-month non-deliverable forward indicated that the rupee will open at 83.80-83.82 to the U.S. dollar, compared with 83.89 in the previous session. The dollar index is near its lowest in more than a year after Powell said on Friday at the Fed's Jackson Hole symposium that "the time had come for p...
Rupee to rise after Powell reinforces expectations of Fed rate cut in September
Rupee to rise after Powell reinforces expectations of Fed rate cut in September
Source: Reuters
2024-08-26 08:56:58 am
India`s forex reserves rise to $674.66 billion as of August 16 India's foreign exchange reserves rose by $4.5 billion and stood at $674.66 billion as of Aug. 16, but were just shy of record highs, data from the Reserve Bank of India showed on Friday. The forex reserves had fallen by $4.8 billion in the previous week, the biggest decline in four months. The reserves had reached a record high of $674.92 billion in the week to Aug. 2. Changes in foreign currency assets are caused by the RBI's intervention as well as the appreciation or depreciati...
India`s forex reserves rise to $674.66 billion as of August 16
India`s forex reserves rise to $674.66 billion as of August 16
Source: Reuters
2024-08-24 10:01:45 am
Rupee strengthens against US dollar on Friday 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
Rupee strengthens against US dollar on Friday
Source: Accord Fintech
2024-08-23 11:28:57 am
Rupee lifted by gains in Asian peers, oil firms' bids cap upside  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
Rupee lifted by gains in Asian peers, oil firms' bids cap upside
Source: Reuters
2024-08-23 09:08:05 am
Rupee weakens against US dollar on Thursday 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
Rupee weakens against US dollar on Thursday
Source: Accord Fintech
2024-08-22 11:52:18 am
Rupee to ignore dovish Federal Reserve minutes; bias on downside 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
Rupee to ignore dovish Federal Reserve minutes; bias on downside
Source: Reuters
2024-08-22 08:51:44 am
Rupee weakens against US dollar on Wednesday 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
Rupee weakens against US dollar on Wednesday
Source: Accord Fintech
2024-08-21 12:13:49 pm
Rupee slips; forward premiums biased higher ahead of US payroll revisions  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
Rupee slips; forward premiums biased higher ahead of US payroll revisions
Source: Reuters
2024-08-21 11:20:02 am
Rupee strengthens against US dollar on Tuesday 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
Rupee strengthens against US dollar on Tuesday
Source: Accord Fintech
2024-08-20 11:51:59 am
Rupee likely to underperform regional peers amid dollar's slide 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
Rupee likely to underperform regional peers amid dollar's slide
Source: Reuters
2024-08-20 09:01:09 am
Rupee touches near two-week high on broad dollar weakness 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
Rupee touches near two-week high on broad dollar weakness
Source: Reuters
2024-08-19 12:09:40 pm
Rupee strengthens against US dollar in early trade on Monday 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
Rupee strengthens against US dollar in early trade on Monday
Source: Accord Fintech
2024-08-19 11:38:01 am
Going global: UAE merchants accept Rupee via UPI to attract Indian customers The government of India has been promoting UPI as a global payment platform. Now merchants in the United Arab Emirates (UAE) are accepting payments via UPI in Rupees to attract Indian customers. One of the biggest retail companies in the UAE, Lulu has started giving customers the option to accept payments through UPI in all its stores in the country. Indian citizens can easily make payments using the UPI app just like in India. The amount paid will be deducted from their bank account in...
Going global: UAE merchants accept Rupee via UPI to attract Indian customers
Going global: UAE merchants accept Rupee via UPI to attract Indian customers
Source: IANS
2024-08-17 01:42:15 pm
Rupee holds above record low to end flat on day and week  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
Rupee holds above record low to end flat on day and week
Source: Reuters
2024-08-16 04:20:15 pm
India central bank asks banks to push direct rupee-dirham settlement, sources say  The Indian central bank has told banks that deal with the United Arab Emirates (UAE) to settle at least a part of their trade payments directly using the rupee and dirham, according to five banking sources. The Reserve Bank of India (RBI) hasn't given banks a specific target but has asked them to report the extent of such payments to it on a regular basis, the sources said. The sources declined to be identified as they are not authorised to speak to the media. The advice go...
India central bank asks banks to push direct rupee-dirham settlement, sources say
India central bank asks banks to push direct rupee-dirham settlement, sources say
Source: Reuters
2024-08-16 12:55:52 pm
Rupee weakens against US dollar on Friday 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
Rupee weakens against US dollar on Friday
Source: Accord Fintech
2024-08-16 12:10:23 pm
Rupee gives up nearly all gains, importers` dollar demand weighs  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
Rupee gives up nearly all gains, importers` dollar demand weighs
Source: Reuters
2024-08-14 03:47:46 pm
Rupee strengthens against US dollar on Wednesday 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
Rupee strengthens against US dollar on Wednesday
Source: Accord Fintech
2024-08-14 12:50:54 pm