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Indian rupee strengthened against the US dollar in early trade on Friday tracking firm domestic equities after data showed the US economy grew faster than expected in second quarter, while investors are awaiting the US personal consumption expenditures (PCE) data which could confirm early interest rate cut expectations. However, some gains were limited by foreign fund outflows from capital markets following the government's decision to hike the tax rate on capital gains. Foreign Instituti...
Rupee strengthens against US dollar on Friday
Indian rupee strengthened marginally against the US dollar on Thursday ahead of the Federal Reserve meeting with rising bets of rate cut in September. Meanwhile, weakness of the American currency in the overseas market and fall in crude oil prices have also supported rupee sentiments. However, some gains were limited by weak equities and significant foreign fund outflows from the capital markets after the government's decision to hike the tax rate on capital gains. Foreign Institutional I...
Rupee strengthens against US dollar on Thursday
The Indian rupee is expected to decline to a lifetime low at open on Thursday on weak risk appetite and a drop in Asian peers. Non-deliverable forwards indicate the rupee will open at 83.74-83.75 to the U.S. dollar, slipping past the previous all-time low of 83.72 and compared with 83.7175 on Wednesday. It would be the fourth day in a row that the local currency has hit a low. The Reserve Bank of India has intervened regularly to support the rupee, capping its decline. The rupee is d...
All-time low looms for rupee on risk aversion; RBI watched
The Indian rupee is expected to decline further on Wednesday due to a rise in the dollar index and a possible slowdown in equity flows. Non-deliverable forwards indicate the rupee will open at 83.70-83.71 to the U.S. dollar, compared with 83.6875 in the previous session. The rupee dipped to an all-time low of 83.7150 on Tuesday, amid choppy price action in local equities, prompting the Reserve Bank of India to intervene. "It will be more of the same today, with the RBI stepping ...
Rupee's downward bias likely to persist; cenbank expected to help out
Indian rupee strengthened against the US dollar in early trade on Tuesday, ahead of Finance Minister Nirmala Sitharaman's Union Budget presentation, that could provide further cues on fiscal deficit, capital expenditure, tax revenue and GST among others. Moreover, foreign fund inflows, and weaker American currency have also supported the rupee. Foreign Institutional Investors were net buyers in the capital markets on Monday as they purchased shares worth Rs 3,444.06 crore, exchange data s...
Rupee strengthens against US dollar on Tuesday
The Indian rupee marginally rose on Tuesday, tracking a rise in most of its Asian peers and as investors awaited the presentation of India's budget later in the day. The rupee was at 83.6250 against the U.S. dollar as of 09:30 a.m. IST, up slightly from its close of 83.6575 in the previous session. The local currency had slipped to its weakest level on record on Monday as sustained dollar demand from local importers weighed in recent sessions, while the Reserve Bank of India's a...
Rupee nudges higher tracking Asian peers; India budget awaited
Indian rupee strengthened against the US dollar in early trade on Monday, as the American currency retreated from its elevated level on news that US President Joe Biden has endorsed his vice president Kamala Harris to become the Democratic nominee in the November election after he announced he would step aside from the race. Moreover, foreign fund inflows and possible intervention by the Reserve Bank of India have also supported the Indian currency at lower levels. Foreign Institutional Inves...
Rupee strengthens against US dollar in early trade on Monday
The Indian rupee was pinned near its record low on Monday, amid weakness in most Asian currencies, with dollar sales from state-run banks helping the South Asian currency avert a decline. The rupee was at 83.6525 against the U.S. dollar as of 09:40 a.m. IST, nearly unchanged from its previous close at 83.6625 in the previous session. The rupee had hit its all-time low of 83.6660 on June 20. Asian currencies were mostly weaker, with the Thai baht down 0.5% and leading losses, while the o...
Rupee holds just above all-time low as state-run banks' dollar sales support
Indian rupee strengthened marginally against the US dollar on Friday, tracking sustained foreign fund inflows and fall in crude oil prices. Foreign Institutional Investors were net buyers in the capital markets on Thursday as they purchased shares worth Rs 5,483.63 crore, exchange data showed. However, some gains were limited by strength of the American currency overseas and, dollar demand from foreign investors and oil companies. The Reserve Bank of India stated that it is looking to lower i...
Rupee strengthens against US dollar on Friday
The Indian rupee may drop to a lifetime low on Friday, pressured by renewed weakness in Asian peers and expectations that dollar payments will persist. Non-deliverable forwards indicate the rupee will open at 83.67-83.68 to the U.S. dollar, inching past the all-time low of 83.6650 hit in June and slightly weaker than 83.65 in the previous session. The currency has largely struggled in recent days amid dollar demand for defence and oil payments, according to traders. Weakness has been pe...
All-time low possible amid dollar payments, decline in Asian peers
The Indian rupee was nearly unchanged on Thursday as dollar demand from local oil companies offset positive cues from a decline in U.S. bond yields and on broad weakness in the dollar. The rupee was at 83.5925 against the U.S. dollar as of 10:45 a.m. IST compared with its close of 83.5825 on Tuesday. Indian financial markets were closed on Wednesday for a local holiday. The dollar index was up 0.1% after falling to its lowest in four months on Wednesday, pressured by growing hopes of Fe...
Rupee flat; dollar bids from oil firms cap gains amid US bond yield dip
Indian rupee weakened against the US dollar on Thursday due to profit-taking in domestic equities and elevated crude oil prices. Moreover, marginal gains in American currency at overseas markets also weighed on rupee sentiments. However, some losses were limited by foreign fund inflows with data showed Foreign Institutional Investors purchased shares worth Rs 1,271.45 crore on Tuesday, and media reports showed that the Asian Development Bank on Wednesday maintained its GDP growth forecast for...
Rupee weakens against US dollar on Thursday
Indian rupee strengthened against the US dollar in early trade on Tuesday, followed by firm domestic equities and foreign fund inflows. Foreign Institutional Investors were net buyers in the capital markets on Monday, as they purchased shares worth Rs 2,684.78 crore, exchange data showed. India's merchandise exports in June increased 2.56% to $35.2 billion, even as the trade deficit widened to $20.98 billion during the month, data showed. Rupee improved further as Federal Reserve Chair Je...
Rupee strengthens against US dollar on Tuesday
The Indian rupee is expected to open largely unchanged on Tuesday despite a decline in Asian peers on expectations that the central bank will not allow the currency to drop to an all-time low. Non-deliverable forwards indicate the rupee will open flat from 83.5925 in the previous session. The dollar index inched up and Asian currencies were down between 0.1% to 0.3%. The rupee hit an all-time low of 83.6650 hit last month. At this level of the rupee, the impact of the moves in Asia will...
Rupee pressed by weak Asia, supported by intervention hopes
Indian rupee weakened against the US dollar in early trade on Monday, tracking the strength of the American currency at overseas market after the attempted assassination of presidential candidate Donald Trump reinforced bets that his chances of winning the election have increased. Moreover, firm trend in domestic equities, hopes of rate cut by Federal Reserve and foreign fund inflows have restricted the fall. Foreign Institutional Investors were net buyers in the capital markets on Friday, as...
Rupee weakens against US dollar on Monday
The Indian rupee is likely to open marginally higher on Monday, shrugging off the decline in Asian peers amid higher odds of Donald Trump winning the November election. Non-deliverable forwards indicate the rupee will open at 83.50-83.52 to the U.S. dollar from 83.5350 in the previous session. Asian currencies were down between 0.1% to 0.6%, with the offshore yuan slipping to 7.28 to the dollar. Expectations of Trump reclaiming the White House have risen following an assassination attem...
Rupee likely to inch up despite weakness in Asian peers
Indian rupee was trading flat against the US dollar in early trade on Friday tracking muted American currency at overseas markets. Firm domestic equities and hopes of interest rate cut by the US Federal Reserve by September after softer-than-expected US consumer price index inflation data, have supported the rupee. Meanwhile, firm crude oil prices and foreign fund outflows have put pressure on the local unit. Foreign institutional investors were net sellers in the capital markets on Thursday ...
Rupee trades flat against US dollar in early trade on Friday
The Indian rupee edged higher on Friday, aided by a broadly weaker dollar after U.S. inflation data boosted expectations of policy easing by the Federal Reserve, although dollar demand from importers capped further gains in the local currency. The rupee closed at 83.5350 against the U.S. dollar, up from its close at 83.56 in the previous session. The local unit was largely flat week-on-week. The dollar index was at 104.3 on Friday, on course for its second consecutive weekly loss, after...
Rupee ends tad higher, importers limit gains; currency flat on-week
Indian rupee weakened against the US dollar on Thursday amid elevated crude oil prices weighed on investor sentiments. Traders ignored the report that labour ministry said retail inflation for industrial workers eased to 3.86 per cent in May compared to 4.42 per cent in the same month a year ago. Besides, State Bank of India (SBI) report showed that between FY14 and FY23, India generated 125 million jobs, which is 4.3 times more than the preceding decadal period of FY04-FY14. The partially...
Rupee weakens against US dollar on Thursday
The Indian rupee is poised to open marginally higher on Thursday, in the wake of an uptick on Asian peers before data that may be key to the Federal Reserve cutting or holding rates at its September meeting. Non-deliverable forwards indicate the rupee will open at 83.48-83.50 to the U.S. dollar compared with 83.52 in the previous session. Asian currencies rose 0.1% to 0.4% and the dollar index held below the 105 handle. The offshore Chinese yuan was quoting at 7.2870 to the dollar, havi...
Rupee to inch up before US inflation print, tracking Asian peers
The Indian rupee ended marginally lower on Wednesday due to slight pressure from importers' dollar bids, but was stuck in a narrow range for most of the session amid mostly quiet price action in its Asian peers. The rupee closed at 83.52 against the U.S. dollar, slightly weaker than its close of 83.4850 in the previous session. The currency hovered between 83.4825 and 83.5225 during the day's session. Dollar bids from importers, including local oil companies, and foreign bank...
Rupee ends tad lower after hovering in narrow band; forward premiums slip
The dollar traded near three-week lows on Wednesday as a cautious tone from Federal Reserve Chair Jerome Powell kept risk sentiment in check, while the New Zealand dollar fell after the country's central bank signaled it saw potential for rate cuts. In the first day of his testimony to Congress overnight, Powell said a rate cut is not appropriate until the Fed gains "greater confidence" that inflation is headed toward the 2% target, setting the stage for Thursday's consum...
Dollar dithers on Powell caution; kiwi droops after RBNZ rate hint
Indian rupee strengthened marginally against the US dollar on Tuesday on account of muted dollar in the overseas markets. Meanwhile, foreign fund inflows, firm domestic equities and easing crude oil prices have also supported the rupee. Foreign institutional investors were net buyers in the capital markets on Monday, as they purchased shares worth Rs 60.98 crore, exchange data showed. But investors are cautiously awaiting US CPI data to be released on Thursday, which is key to gauge on Federa...
Rupee strengthens against US dollar on Tuesday
The Indian rupee closed nearly flat on Tuesday, tracking largely subdued price action in its Asian peers, as investors awaited comments from the Federal Reserve Chair for cues on the future path of U.S. interest rates. The rupee ended at 83.4850 against the U.S. dollar, barely changed from its close at 83.4925 in the previous session. Indian state-run banks were "active on both sides," like on Monday, which along with mostly quiet price action in Asian currencies, kept the rup...
Rupee ends flat, tracking rangebound Asian peers; Powell's testimony in focus
Indian rupee strengthened against the US dollar in early trade on Monday, as crude oil prices retreated from their elevated levels amid the prospect of a ceasefire deal in Gaza eased geopolitical tension in the Middle East. Moreover, foreign fund inflows and hopes of interest rate cuts by the Federal Reserve later this year also aided rupee sentiments. Foreign Institutional Investors were net buyers in the capital markets on Friday, as they purchased shares worth Rs 1,241.33 crore, exchange d...
Rupee strengthens against US dollar on Monday
The Indian rupee is likely to nudge higher on Monday, supported by a rise in expectations that the U.S. Federal Reserve may begin to ease policy rates in September but weakness in the Chinese yuan may limit the local currency's gains. Non-deliverable forwards indicate the rupee will open flat or slightly higher against the U.S. dollar, compared with 83.4850 in the previous session. The rupee is likely to "trend sideways around 83.45 with a slightly positive bias", a foreig...
Rupee aided by growing Fed rate cut hopes, yuan slip may limit gains
Indian rupee strengthened against the US dollar in early trade on Friday, due to retreat in American currency and as signs of slowing US economy heightened the expectations that the US Fed will cut interest rates sometime soon. Meanwhile, investors are awaiting US nonfarm payrolls data to gauge the trajectory of the Federal Reserve's potential interest rate cuts. Moreover, significant foreign fund inflows also supported rupee sentiments. Foreign Institutional Investors were net buyers in ...
Rupee strengthens against US dollar in early trade on Friday
The Indian rupee was slightly stronger on Friday as most of its Asian peers rose heading into a closely watched U.S. jobs report later in the day, which is expected to influence expectations of when the Federal Reserve will start easing rates. The rupee was at 83.4625 against the U.S. dollar as of 09:40 a.m. IST, marginally higher than its previous close at 83.4925. The dollar index fell to its lowest in three weeks in Asia trading and was last down 0.1% at 105. Broad dollar weakness he...
Rupee inches higher tracking gains in most Asian peers
Indian rupee weakened against the US dollar on Thursday, driven by elevated crude oil prices. However, foreign fund inflows into capital market, firm domestic equities, weakness in American currency overseas and US Federal Reserve's rate cut expectations, have limited further falls in rupee. Foreign Institutional Investors were net buyers in the capital markets on Wednesday, as they purchased shares worth Rs 5,483.63 crore, exchange data showed. Meanwhile investors are now awaiting minute...
Rupee weakens against US dollar on Thursday
The Indian rupee is expected to open higher on Thursday after weak U.S. services and labor data prompted a drop in the dollar index and U.S. Treasury yields, spurring a recovery in Asian currencies. Non-deliverable forwards indicate the rupee will open at 83.50 to the U.S. dollar, compared with 83.53 in the previous session. The dollar index dropped on Wednesday and dipped further during Asian hours. Asian currencies, which have broadly been under pressure, recovered on the day. The ...
Rupee to inch up on relief for Asia FX after weak US data
The Indian rupee will trade within the narrowest range in nearly three decades over the coming year as the Reserve Bank of India (RBI) continues to maintain its tight grip on the currency's movements, according to a Reuters poll. While most emerging market currencies fared badly against the dollar in the past two years, the rupee has stayed remarkably stable due to the RBI's nearly $650 billion forex reserves which it has deployed regularly to curb volatility. The currency's...
Rupee to trade in narrowest range in about 30 years on RBI`s actions
Indian rupee weakened against the US dollar in early trade on Wednesday tracking firm American currency at overseas markets, while dollar demand from oil importers and foreign portfolio investors dragged down rupee. Moreover, elevated crude oil prices and foreign fund outflows have also dampened sentiments. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 2,000.12 crore, exchange data showed. However, some losses were...
Rupee weakens against US dollar on Wednesday
Indian Rupee weakened against the US dollar on Tuesday amidst elevated crude oil prices, while investors are cautiously awaiting more cues on the US interest rates due this week. The minutes of the Fed’s June meeting are due on Wednesday, Key US nonfarm payrolls data for June is due on Friday, and Fed Chair Jerome Powell is set to speak at a European Central Bank conference on Tuesday. Moreover, dollar demand from oil importers and foreign portfolio investors and foreign fund outflows h...
Rupee weakens against US dollar on Tuesday
The Indian rupee is expected to decline at the open on Tuesday, weighed down by a further rise in U.S. Treasury yields amid increasing expectations of Donald Trump winning the U.S. presidency. Non-deliverable forwards indicate the rupee will open at 83.47-83.48 to the U.S. dollar, compared with 83.4375 in the previous session. Asian currencies were down between 0.1% and 0.5%, with the offshore Chinese yuan dipping below 7.3050 to the U.S. dollar. In line with Asia, the rupee will ...
Rupee expected to decline on the back of rising US yields
Indian rupee weakened against the US dollar in early trade on Monday tracking rising crude oil prices and foreign fun outflows in the capital market. Foreign Institutional Investors were net sellers in the capital markets on Friday, as they offloaded shares worth Rs 23.09 crore, exchange data showed. However, some losses were limited by firm domestic equities and softening American currency after data showed inflation subsided, that reinforced expectations of Federal Reserve interest rate cut...
Rupee weakens against US dollar on Monday
The Indian rupee is expected to open largely unchanged on Monday, mixed Asian peers were mixed, with the focus on important U.S. data due later in the week. Non-deliverable forwards indicated rupee will open barely changed from the previous session's close of 83.3825. Asian currencies were rangebound and lacked direction while the dollar index dipped. Last week was a choppy one for the rupee, with the inclusion of Indian bonds into the JPMorgan emerging market index and the expiry o...
Rupee to focus on US data after index flows underwhelm
Indian rupee weakened against the US dollar in early trade on Friday ahead of the crucial US inflation reading this evening that could provide further clues on the interest rate cut timeline this year. Moreover, strength of the American currency at overseas market and elevated crude oil prices have also weighed on the local currency. However, firm domestic equities and foreign fund inflows have limited further weakness in rupee. Foreign Institutional Investors were net buyers in the capital m...
Rupee weakens against US dollar on Friday
Indian rupee strengthened against the US dollar in early trade on Thursday, tracking firm domestic equities and weakness in American currency overseas. Rupee rose further as crude oil prices retreated from their elevated levels. Moreover, continued RBI intervention has also helped prevent significant rupee depreciation. However, Foreign fund outflows restricted the up-move. Foreign Institutional Investors were net sellers in the capital markets on Wednesday, as they offloaded shares worth Rs ...
Rupee strengthens against US dollar on Thursday
Indian rupee weakened against the US dollar in early trade on Wednesday tracking volatility in domestic equities. Moreover, the strength of the American currency in the overseas market and a rising oil price also weighed on the local currency. Meanwhile investors were cautiously awaiting crucial US economic reports to gauge the Federal Reserve's interest rate trajectory. However, some fall was limited by foreign fund inflows with data showed that Foreign Institutional Investors purchased ...
Rupee weakens against US dollar in early trade on Wednesday
Indian rupee strengthened against the US dollar in early trade on Tuesday, tracking firm domestic equities and weak American currency at overseas market. Meanwhile, the Reserve Bank of India protected the rupee from a fall beyond 83.55. However, elevated crude oil prices and foreign fund outflows have restricted the up-move. Foreign Institutional Investors were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 653.97 crore, exchange data showed. Meanwhile, the S&...
Rupee strengthens against US dollar on Tuesday
The Indian rupee was little changed on Tuesday as month-end dollar demand from importers, including local oil companies, countered the positive cues from gains in most Asian currencies. The rupee was at 83.43 against the U.S. dollar as of 10:35 a.m. IST, marginally changed from its previous close at 83.46. Asian currencies were mostly higher, aided by a broadly weaker dollar. The offshore Chinese yuan was up slightly at 7.28 after declining to its weakest level since November on M...
Rupee nearly flat as oil companies' dollar bids counter gains in Asia FX
The Indian rupee closed stronger on Monday, aided by gains in most of its Asian peers and dollar sales from foreign banks, traders said. The rupee closed at 83.4600 against the U.S. dollar, higher than its close at 83.5325 in the previous session. Most Asian currencies gained as the dollar slipped from its near two-month high and was last quoted down 0.2% at 105.64. The Indonesian rupiah was up 0.3% and leading gains among major Asian currencies. Dollar sales from foreign banks aided...
Rupee closes higher on uptick in Asian FX, foreign banks' dollar sales
Indian rupee strengthened against the US dollar in early trade on Monday as investors are awaiting key US inflation data and Federal Reserve officials' comments through the week for fresh clues on the potential timing of the Fed's interest rate cut. Further, muted American currency also supportive for rupee sentiments. However, some gains were limited by tracking a negative trend in the domestic equities and foreign fund outflows. Foreign Institutional Investors were net sellers in th...
Rupee strengthens against US dollar on Monday
The Indian rupee inched higher on Friday recovering from a decline to its lifetime low in the previous session that was spurred by weakness in the Chinese yuan and likely dollar outflows. The rupee was at 83.61 against the U.S. dollar as of 10:00 a.m. IST, up from its previous close at 83.6525. The currency fell to a record low of 83.6650 on Thursday. The offshore Chinese yuan fell to 7.29 on Friday, its lowest in seven months, after a lower central bank guidance for the currency on Thu...
Rupee ticks up after weaker yuan triggers fall to record low
Indian rupee was strengthened marginally against the US dollar on Friday tracking sustained inflow of foreign capital. Foreign Institutional Investors were net buyers in the capital markets on Thursday as they purchased shares worth Rs 415.30 crore, exchange data showed. However, decline in the Chinese yuan and Japanese yen negatively impacted emerging market currencies. Uncertainty over Fed’s interest rates with Minneapolis Fed President Kashkari said it would likely take a year or two...
Rupee gains marginally against US dollar on Friday
Indian rupee weakened against the US dollar on Thursday, tracking a broader decline in other Asian currencies, renewed US Dollar demand and an upward trend in crude oil prices overseas. Rupee fell further amid a continued hawkish stance from Fed officials that dampening hopes for an interest rate cut until December. However, firm domestic equities and unabated inflow of foreign capital have limited further falls in rupee. Foreign Institutional Investors were net buyers in the capital markets ...
Rupee weakens against US dollar on Thursday
The Indian rupee was little changed on Thursday as weakness in Asian currencies offset a broadly positive bias on the rupee amid expectations of portfolio inflows and the Reserve Bank of India's stern defence of the currency. The rupee was at 83.4925 against the U.S. dollar as of 10:25 a.m. IST, compared with its previous close at 83.4550. The dollar index was at 105.3, while most Asian currencies declined, with the Indonesian rupiah falling to a four-year low and the Chinese yuan s...
Rupee edges lower as decline in Asian peers counters upward bias
Indian rupee strengthened against the US dollar on Wednesday after as weaker-than-expected US retail sales data reinforced expectations of an early rate cut by the Federal Reserve. Moreover, sustained foreign fund inflows into capital market also added support to local currency. Foreign Institutional Investors were net buyers in the capital markets on Tuesday, as they purchased shares worth Rs 2,569.40 crore, exchange data showed. Rupee improved further after data showed, with a positive sign...
Rupee strengthens against US dollar on Wednesday
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