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| 09 August, 2020, 01:34 AM IST | E-Paper
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    Why is rupee still relatively soft despite weakness in dollar?

    Why is rupee still relatively soft despite weakness in dollar?

    In the past one month, the dollar index — which measures the dollar against major world currencies — dropped more than 4%, show data from Bloomberg. In this period, the rupee’s value against the greenback has increased just about 1%.

    Rupee settles 3 paise higher at 74.81 against US dollar

    Rupee settles 3 paise higher at 74.81 against US dollar

    At the interbank forex market, the rupee opened at 74.74, and witnessed an intra-day high of 74.68 during the session and a low of 74.90 against the US dollar.

    Rupee opens 10 paise up at 74.75 against dollar

    Rupee opens 10 paise up at 74.75 against dollar

    The dollar declined to two-year lows on Friday and is on track to post its biggest monthly decline in 10 years.

    Average value of rupee to be at 75.98 vs dollar in FY21: Report

    Average value of rupee to be at 75.98 vs dollar in FY21: Report

    The country's foreign exchange reserves rose to a lifetime high of $517.64 billion in the week ended July 17, 2020 from $476.88 billion at end-March 2020.

    Rupee settles 4 paise lower at 74.84 against US dollar

    Rupee settles 4 paise lower at 74.84 against US dollar

    The domestic unit finally closed at 74.84 against the greenback, down 4 paise over its previous close 74.80.

    Rupee slips 7 paise to 74.87 against US dollar in early trade

    Rupee slips 7 paise to 74.87 against US dollar in early trade

    At the interbank forex market, the rupee opened at 74.84, then lost further ground and touched 74.87 against the US dollar, down 7 paise over its last close of 74.80.

    Dollar bogged at 2-year low as Fed maintains dovish script

    Dollar bogged at 2-year low as Fed maintains dovish script

    The dollar has been tumbling on expectations that the Fed will continue its ultra loose monetary policy for years to come and on speculation that it will allow inflation to run higher than it has previously indicated before raising interest rates.

    Rupee settles 4 paise higher at 74.80 against US dollar

    Rupee settles 4 paise higher at 74.80 against US dollar

    During the session, the domestic unit touched an intra-day high of 74.73 and a low of 74.89 against the American currency.

    Goldman warns the dollar's grip on global markets might be over

    Goldman warns the dollar's grip on global markets might be over

    While that view is clearly still a minority one in most financial circles -- and the Goldman analysts don’t say they believe it will necessarily happen -- it captures a nervous vibe that has infiltrated the market this month: Investors worried that this money-printing will trigger inflation in years ahead have been bailing out of the dollar and piling furiously into gold.

    Dollar wallows near 2-year low as virus dashes US recovery hopes

    Dollar wallows near 2-year low as virus dashes US recovery hopes

    The U.S. Federal Reserve is also expected to strike a dovish stance at its policy review later in the day and dollar bears bet it could even hint at further easing down the road.

    Dollar bounces from two-year lows, further weakness seen likely

    Dollar bounces from two-year lows, further weakness seen likely

    The dollar index against a basket of currencies rebounded by 0.18% to 93.71, after dropping to 93.47 on Monday, the lowest since June 2018.

    Rupee settles almost flat at 74.84 against US dollar

    Rupee settles almost flat at 74.84 against US dollar

    At the interbank forex market, the rupee witnessed high volatility and touched an intra-day high of 74.71 and a low of 74.90 against the US dollar.

    Rupee opens 3 paise down at 74.86 against dollar

    Rupee opens 3 paise down at 74.86 against dollar

    Before closing almost flat at 74.83 against the dollar, rupee traded in a narrow range despite marginally weak domestic equities.

    Dollar in the doldrums as focus turns to Fed, US fiscal package

    Dollar in the doldrums as focus turns to Fed, US fiscal package

    The U.S. currency's drop has put a rocket under gold prices and has the yen standing near its highest in four months, the euro just below a 22-month high and the kiwi close to its strongest since January.

    RBI signs $400 million currency swap pact with Central Bank of Sri Lanka

    RBI signs $400 million currency swap pact with Central Bank of Sri Lanka

    The agreement signed under the SAARC Currency Swap Framework 2019-22 would be valid till November 13, 2022.

    Dollar bears set currency on course for worst July in a decade

    Dollar bears set currency on course for worst July in a decade

    “The dollar’s strength is well and truly over for now,” said George Boubouras, head of research at hedge fund K2 Asset Management.

    Rupee settles unchanged at 74.83 vs dollar

    Rupee settles unchanged at 74.83 vs dollar

    At the interbank forex market, the domestic unit opened on a strong note at 74.70, but erased the gains to finally close at 74.83, unchanged from its previous closing.

    Rupee opens 12 paise up at 74.71 against dollar

    Rupee opens 12 paise up at 74.71 against dollar

    Market participants will be keeping an eye on the FOMC policy statement and a dovish commentary could further weigh on the greenback in the next few sessions.

    Dollar struggles amid Sino-US tensions, coronavirus woes

    Dollar struggles amid Sino-US tensions, coronavirus woes

    In morning trade it fell to a four-month low against the yen and a new 22-month trough on the euro at $1.1699.

    Dollar slump continue on US economic worries, safe-haven yen gains

    Dollar slump continue on US economic worries, safe-haven yen gains

    The dollar posted its biggest weekly decline in almost four months against a basket of currencies and also saw its largest weekly percentage loss against a surging euro since late March.

    Forex reserves climb $1.27 billion to record peak of $517.637 billion

    Forex reserves climb $1.27 billion to record peak of $517.637 billion

    The reserves had crossed the half-a-trillion mark for the first time in the week ended June 5, after it had increased by $8.223 billion to reach $501.703 billion.

    Rupee settles 8 paise lower at 74.83 against US dollar

    Rupee settles 8 paise lower at 74.83 against US dollar

    During the session, the domestic unit touched an intra-day high of 74.80 and a low of 74.98 against the US dollar.

    Rupee opens 19 paise down at 74.94 against dollar

    Rupee opens 19 paise down at 74.94 against dollar

    The rupee on Thursday gave up day’s gains to settle on a flat note at 74.75 against the US dollar amid concerns over growing tensions between the US and China.

    View: An enduring rupee strength can be explained against the weakening dollar

    View: An enduring rupee strength can be explained against the weakening dollar

    While the consensus among economists earlier was that India would contract by around 5% in 2020-21, this appears to be moving to a ballpark of 7-9%. So, going by the somewhat popular notion that the exchange rate is a measure of the health of the economy, why should the rupee be so strong?

    Yen up and dollar clinging on as China's Houston response awaited

    Yen up and dollar clinging on as China's Houston response awaited

    The yen rose 0.3% to 106.51, its strongest since late June. The Australian and New Zealand dollars were also off from multi-month highs and the Chinese yuan struggled for headway.

    Rupee pares initial gains, settles flat at 74.75 against US dollar

    Rupee pares initial gains, settles flat at 74.75 against US dollar

    At the interbank forex market, the domestic unit opened on a strong note at 74.65, but erased the gains and finally closed at 74.75, unchanged from its previous closing.

    Rupee opens 12 paise up at 74.64 against dollar

    Rupee opens 12 paise up at 74.64 against dollar

    The local unit pared its initial gains and settled on a flat note at 74.76 against, Rupee had opened higher but it came under pressure in the latter half of the session following weakness in domestic equities.

    Dollar finds footing as Sino-US tensions escalate

    Dollar finds footing as Sino-US tensions escalate

    "The market is still trying to ascertain whether this increase in geopolitical tension is going to be enough to derail the positive vibes we've been seeing," said Rodrigo Catril, senior FX strategist at National Australia Bank in Sydney.

    Euro approaches 2-year high; Aussie, Kiwi up as risk appetite rises

    Euro approaches 2-year high; Aussie, Kiwi up as risk appetite rises

    Risk appetite in currency markets, however, diminished for around two hours, after China's foreign ministry said the United States had told China on July 21 to close its consulate in Houston.

    Currency markets resume risk-on rally, shrugging off US-China consulate spat

    Currency markets resume risk-on rally, shrugging off US-China consulate spat

    The move marked a deterioration in U.S.-China relations, which have become more fraught since the outbreak of COVID-19.

    Rupee settles flat at 74.75 against US dollar

    Rupee settles flat at 74.75 against US dollar

    During the session, the domestic unit witnessed high volatility and saw an intra-day high of 74.59 and a low of 74.87 against the American currency.

    Rupee surges 15 paise to 74.59 against US dollar in early trade

    Rupee surges 15 paise to 74.59 against US dollar in early trade

    At the interbank forex market, the domestic unit opened at 74.61 against US dollar, gained further ground and touched 74.59 against the US dollar.

    Dollar licks wounds as investors fret over U.S. stimulus

    Dollar licks wounds as investors fret over U.S. stimulus

    "You could say the dollar is weaker due to a risk-on move," said Shane Oliver, head of investment strategy and chief economist at AMP Capital Investors in Sydney.

    Higher forex kitty to lower borrowing cost, net more foreign funds: Report

    Higher forex kitty to lower borrowing cost, net more foreign funds: Report

    The present forex reserves are sufficient to cover 14.9 months of imports, which are around 20 per cent of GDP, said the report, adding pre-Covid, the import cover was 11.4 months.

    Rupee settles 17 paise higher at 74.74 against US dollar

    Rupee settles 17 paise higher at 74.74 against US dollar

    At the interbank forex market, the domestic unit opened on a strong note at 74.79 against US dollar.

    Rupee opens 12 paise up at 74.79 against dollar

    Rupee opens 12 paise up at 74.79 against dollar

    “In the last few sessions, riskier assets have witnessed rally on the back of progress over vaccine and expectation of stimulus package from the US and the Eurozone,” brokerage Motilal Oswal Financial Services said.

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