The Economic Times
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| 30 November, 2020, 04:27 PM IST | E-Paper

    A surging US dollar to hit Indian rupee

    The rupee is likely to edge lower against the US dollar as traders are likely to buy the latter after a clear mandate in the US presidential election eliminated political and fiscal uncertainty in that country.

    Indian rupee opens 10 paise lower against the US dollar

    On Monday, the Rupee fell to the lowest level in a month following broad based strength in the dollar against its major crosses. Dollar gained on the back of safe haven buying as the number of Covid cases started to increase in the US and the EU.

    Will gains in Indian rupee last?

    In the middle of a pandemic, the rupee has moved past the 73 mark to hit a six-month high against the dollar. And that's not it, analysts are expecting it to rise further. But what's behind this swift movement in the domestic currency? And why isn't RBI interfering to rein in the rupee this time around?Will gains in Indian rupee last?

    Rupee opens 10 paise higher against the US dollar

    The rupee opened at Rs 73.79 against the dollar compared with the previous close of 73.89.

    Gold, silver rise marginally

    In the international market, gold was trading with gains at USD 1,815 per ounce, while silver was quoting flat at USD 23.42 per ounce.

    Rupee settles 3 paise higher at 73.88 against US dollar

    At the interbank forex market, the domestic unit traded in a narrow range as rising COVID-19 cases offset positive sentiments surrounding the progress on the vaccine front.

    Rupee trades 6 paise higher against the US dollar

    The US dollar was on the defensive on Thursday as downbeat US economic data and optimism about coronavirus vaccines prompted investors to seek out riskier assets tied to global commodities and emerging markets, Reuters reported.

    Rupee settles 10 paise higher at 73.91 against US dollar

    The dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.10 percent to 92.13.

    Rupee gains 4 paise against the US dollar

    Rupee opened at 73.99 against the US dollar, compared with the previous close of 74.00. At 10:12 am, it was up 4 paise at 73.96

    Gold plunges Rs 1,049; silver tumbles Rs 1,588

    Silver also faced selling pressure as it tumbled by Rs 1,588 to Rs 59,301 per kg from Rs 60,889 per kg in the previous trade.

    Rupee trades flat against the US dollar

    Globally, risk-sensitive currencies gained on Tuesday as investors breathed easier after US President Donald Trump accepted the start of a transition to a Joe Biden administration, that is expected to include former Federal Reserve Chair Janet Yellen as Treasury secretary, Reuters reported.

    Rupee opens 4 paise higher against the US dollar

    The Indian rupee opened at 74.11 against the US dollar compared with the previous close of 74.15.

    Gold inches up by Rs 65; silver jumps Rs 298

    Spot gold prices for 24 carat gold at Delhi were trading up by Rs 65 reflecting overnight gains made in international gold prices limiting upside on rupee appreciation,

    Ahead of Market: 12 things that will decide stock action on Friday

    Mazhar Mohammad of said, in next trading session, if the index settles below 12,800 levels on closing basis, then it may kick in the much needed corrective downswing with initial targets of 12,600 levels.

    Gold falls Rs 357, silver declines Rs 532

    The yellow metal had closed at Rs 50,610 per 10 gram in the previous trade.

    Rupee opens on flat note against US dollar

    "The US and countries across Europe are enforcing stricter measures to tackle the rising second wave of cases. This has stalled the global risk rally as of now. However, with progress on the vaccine front, there are no signs of panic as yet," said Abhishek Goenka, Founder and CEO, IFA Global.

    Rupee opens 3 paise higher against the US dollar

    In the previous session, rupee fell sharply against the greenback ahead of the important inflation and industrial production number that were released later in the day.

    RBI remains net purchaser of US dollar in September, buys $8.17 bn

    During the one-month period, the rupee lost a marginal 0.2 percent to the greenback marking itself as one of the worst performing Asian currencies.

    Rupee opens 7 paise lower against the US dollar

    In Asian trade, the dollar held broad gains as investors adjusted some of their bullish expectations about a Covid-19 vaccine, tempering a recent rally in risk assets but keeping enough confidence to support the greenback against other safe-havens, Reuters reported.

    Rupee may return near pre-pandemic levels by March: Nomura

    India’s currency rose from a two-month low last week ahead of U.S. election results to 74.3725 per dollar on Wednesday.

    Rupee slumps 18 paise against US dollar to 74.36

    At the interbank foreign exchange market, the local currency opened on a weak note at 74.24 and swung between the day's high of 74.18 and low of 74.50 to the US dollar.

    Rupee opens 7 paise higher against the US dollar

    After strengthening in the past few sessions, the Indian unit came under pressure in the previous session on the back of short covering moves even as the domestic equities surged to record high levels.

    Rupee opens 25 paise higher against the US dollar

    Motilal Oswal analysts said on the domestic front, the focus will now be on the inflation and industrial production number that will be released later during the week and price rise could keep the rupee gains in check.

    Rupee opens 40 paise higher at 73.98 against dollar

    Brokerage Motilal Oswal Financial Services expects rupee to trade higher in Friday’s session and quote in the range of 73.80 and 74.40.

    GST collection, power consumption show recovery: Ex-RBI chief C Rangarajan

    Rangarajan, also the former Prime Minister's Economic Advisory Council chairman, said this during 'SICCI-360' organised here by the Southern India Chamber of Commerce and Industry.

    India's cotton exports could jump 40% to seven-year high as prices rally

    Higher exports by the world's biggest cotton producer in 2020/21 season, started on Oct. 1, could weigh on global prices and limit shipments from rivals such as the United States and Brazil to key Asian buyers such as China, Bangladesh and Vietnam.

    Bank of Baroda Q2 results: Net profit doubles to Rs 1,679 crore YoY

    CEO Sanjiv Chadha said higher retail loan growth together with lower cost of funds gave the bank confidence of sustaining its profits in the immediate future.

    Rupee slips below 74-mark against dollar, hits lowest level since Aug 27

    The Indian rupee opened at 74.05 against the dollar, down 17 paise from the previous close of 73.88.

    Rupee opens 2 paise higher against the US dollar

    The dollar index, the greenback’s measure against a basket of currencies, was up 0.2 per cent, with the US elections' uncertainty adding to the "risk-off" tone.

    KPIT Technologies Q2 results: Net profit declines 22.5% to Rs 28 crore

    Its revenue from operations declined 10.7 per cent to Rs 485.4 crore for the quarter under review as compared to Rs 544 crore in the year-ago period, it added.

    Investors go long on Asian currencies, Indian rupee bets at 3-year high: Poll

    The rupee has appreciated close to 3% over the past two weeks after the central bank cut back on aggressive dollar-buying it has been undertaking in recent months to build reserves and keep the currency in check to help exports and its virus-hit economy.

    Why the long-term outlook for India equities look so tempting

    RBI expects growth to restart from March quarter and continue into FY22, though at lower-than-trend rate of growth. After every period of a major economic stress, India has bounced back strongly in the past.

    Rupee opens 5 paise lower at 73.43 against the US dollar

    On Thursday, the rupee came under pressure in the latter half of the session following a plunge in domestic equities and strength in the dollar against its major crosses, and selling across the board was witnessed.

    Rupee opens 12 paise lower at 73.39 against the US dollar

    Analysts expect weaker-than-expected economic data on the domestic front to keep the rupee weighed down against the US dollar.

    Upside for Indian rupee seen limited despite multiple positives

    Reserve Bank of India's stated foreign exchange policy has been to only curb extreme volatility

    Market takes Shaktikanta Das' signal positively as yields cool off

    The governor's announcement had an instant impact on the bechmark bond as its yield dropped to 5.91% from Thursday's close of 6.01% before ending at 5.94%.

    Rupee recovers by 13 paise; ends 2-day losing streak

    During the session, the local unit witnessed an intra-day high of 73.29 and a low of 73.55 against the American currency.

    Rupee gets lift from stock flows, current account surplus

    Consensus forecasts by analysts surveyed suggest the rupee could struggle in the fourth quarter. The median estimate is for the the currency to end the year at 73.83 per dollar, slightly weaker than the 73.2875 it closed at on Monday.

    Rupee settles 10 paise higher at 73.76 against US dollar

    On Tuesday, the Indian rupee settled at 73.86 against the greenback.

    Rupee widens losses by 7 paise against US dollar

    At the interbank forex market, the domestic unit opened at 73.78 per US dollar and traded between a high of 73.75 and a low of 73.91 during the session. It finally closed at 73.86, registering a fall of 7 paise over its previous close.

    Rupee settles 18 paise lower against US dollar

    On Friday, the rupee had staged a smart rebound and close at 73.61 against the US dollar.

    FPIs pull out net Rs 476 cr so far in Sept from Indian markets

    They had invested Rs 46,532 crore in August, Rs 3,301 crore in July and Rs 24,053 crore in June on net basis.

    Rupee settles 28 paise higher at 73.61 against US dollar

    On Thursday, the rupee dived 32 paise to touch a near one-month low of 73.89 against the US dollar.

    Rupee gains marginally against US dollar

    On Tuesday, the rupee depreciated 20 paise to settle at 73.58 against the US dollar.

    Gold, silver tumble on weak global trend

    The yellow metal had closed at Rs 52,000 per 10 gram in the previous trading session.

    $25b ‘safe-haven’ buys in 2 months, but super-low returns for RBI

    While the holdings may be safe, the low returns from those investments could crop the RBI's earnings, potentially reducing its payout to the government amid record low interest rates.

    Rupee sees high volatility against US dollar ahead of US Fed policy decision

    "The focus will be on the Federal Open Market Committee (FOMC) tonight. Market participants would expect further clarifications from the US Fed on how average inflation targeting framework would be implemented," said Abhishek Goenka Founder and CEO, IFA Global.

    Even if Nasdaq blips, we will continue to see the uptrend till Diwali: Edelweiss

    The real test for markets will come around the 14th of November when Diwali kicks in which will be the real test of demand for corporate India.

    Border tension, inflation data & FII flows among 8 key factors to guide markets this week

    In the coming week, inflation data will be critical as it will make a base for RBI to decide on further rate cuts.

    Rupee settles 9 paise higher at 73.46 against US dollar

    During the session, the domestic unit witnessed an intra-day high of 73.16 and a low of 73.50 against the greenback.

    Rupee opens 11 paise higher at 73.44 against dollar

    On the domestic front, market participants will be keeping an eye on the industrial production number that will be released on Friday and the weaker-than-expected number could keep gains capped for the currency.

    Rupee opens 4 paise down at 73.18 against dollar

    Overseas investors pulled out Rs 900 crore on net basis from domestic markets in the first four trading sessions of this month as weak economic data and India-China border tensions hit market sentiment.

    Rupee opens 18 paise down at 73.21 against dollar

    The US dollar advanced for the second straight day after remaining under pressure in the past few sessions despite private payrolls number falling short of expectations.

    Rupee opens 20 paise down at 73.07 against dollar

    ​​“Momentum in today’s session is likely to be curbed as the dollar rose marginally against its major crosses. For the day, we expect USDINR (Spot) to quote in the range of 72.70 and 73.20,” brokerage Motilal Oswal Financial Services said.

    RBI has just twisted yields to stem drop in bond values

    The central bank’s demand side measures for the bond market, such as in increase in Held-To-Maturity (HTM) limits and the new Operation Twist calendar, besides the reinforcement of its accommodative stance are positives for bond market inflows

    Rupee zooms past 73-mark, settles 73 paise higher at 72.87 against US dollar

    At the interbank forex market, the domestic unit opened at 73.18 against the US dollar, gained further ground during the trading session and finally settled for the day at 72.87 against the greenback, registering a surge of 73 paise over its previous close of 73.60.

    Gold rebounding again, but analysts divided in outlook this time

    Bullion prices recovered on Monday after falling last week. Gold prices at the Multi Commodity Exchange (MCX) for the October contract were trading 0.5 per cent higher at about Rs 51,700 per 10 gm at in early afternoon trade, supported by rupee depreciation.

    India gold discounts hit five-month high as price dip fails to stir demand

    On Friday, local gold futures traded around 51,200 rupees ($699) per 10 grams, having retreated from a record 56,191 rupees hit earlier this month.

    Rupee posts biggest weekly gain in 20 months as RBI stands aside

    "The sharp fall in dollar/rupee spot has been very unexpected and traders are in shock, with every major support being tested," said Rahul Gupta, head of currency research at Emkay Global Financial Services.

    Rupee gains 40 paise; touches 73.90 against dollar after RBI Guv comments

    The rupee rose 40 paise from its closing level of 74.30 on Wednesday.In morning trade on Thursday, it had touched 74.36 against the American currency.

    Edible oil prices likely to fall by Diwali

    With palm oil accounting for over 60 per cent of the 15 million tonne annual vegetable oils import in India, a drop in global prices will impact the domestic prices of all edible oils, industry executives said.

    Gold, silver futures trade higher over rise in Covid cases

    MCX October gold opened at Rs 51,350 per 10 gm and touched a high of Rs 51, 468. MCX September silver opened on a positive note at Rs 65,983 per kg and touched a high of Rs 66,159.

    Rupee pares early gains, settles 1 paisa down at 74.33 against USD

    The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.12 per cent down at 93.18.

    Rupee hits over 5-month high, trades at 74.17 against dollar

    Overseas investors have poured in over Rs 40,000 crore in domestic markets on a net basis in August so far as the excess liquidity in global markets found its way to emerging markets like India.

    What's behind rupee's stellar rally against dollar? No, it's not RBI

    The rupee gained 0.70% to close at 74.32/$, its strongest level since March 18.

    Rupee makes U-turn, logs steep 52 paise gains against US dollar

    The dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.15 per cent at 93.11.

    NRI rupee deposits surge four-fold in Q1 as interest rate gap widens

    Non-resident Indians are betting big on India, a sign of their faith in the Indian rupee as well as the economic outlook for the country, as bank deposits from the diaspora swelled in sharp contrast to the prevailing historic low interest rates.

    Biggest forex buyer in emerging Asia builds on record buffer

    It purchased $30 billion of foreign exchange in the four months to July to bolster what is already the world’s fifth-largest FX hoard.

    Rupee rises 7 paise to 74.69 against US dollar in early trade

    Forex traders further said that markets will look ahead to the US Federal Reserve minutes scheduled to release tonight.

    India takes on Asia’s fx hubs for lion share of rupee trade

    Prime Minister Narendra Modi wants to pitch India as a new Asian destination for global fund flows rivaling the likes of Singapore and Hong Kong.

    Rupee fights August curse with wall of money into nation’s banks

    ICICI Bank Ltd., Axis Bank Ltd. and mortgage lender HDFC Ltd. have raised a combined 350 billion rupees ($4.7 billion) this month.

    Rupee settles 6 paise lower at 74.90 against US dollar

    At the interbank forex market, the local unit opened at 74.85 against the US dollar, then lost ground and finally settled at 74.90 against the American currency, registering a decline of 6 paise over its previous close of 74.84.

    RBI’s June dollar purchases hit 4-year high

    The central bank bought $14.8 billion from the spot currency market in June, the highest since it bought $19,1 billion in November 2016. I

    Rupee settles on flat note, down 1 paisa at 74.84 against US dollar

    During the session, the domestic unit witnessed an intra-day high of 74.78 and a low of 74.92 against the greenback.

    Rupee settles 12 paise higher at 74.78 against US dollar

    At the interbank forex market, the local unit opened at 74.83 against the US dollar and gained further ground to settle at 74.78, up 12 paise over its previous close of 74.90.

    KPIT hits upper circuit on sustained deal wins in Q1

    Shares of mid-tier IT company KPIT Technologies hit an upper circuit with 5 per cent gain on Tuesday morning amid a weakness among the stocks of its top-tier peers.

    Rupee opens 9 paise down at 74.90 against dollar

    Earlier, the local currency on Friday closed with a marginal 3 paise gain at 74.81 to the US dollar amid weakness in the greenback against key global peers.

    Infosys poised for a better show in FY21 than peers

    Among the three, Infosys stood out. Its reported revenue dropped by 2.4% sequentially to $ 3,121 million in the June quarter while its two peers recorded a steeper drop of over 7%.

    $10 billion India fund shuns company debt on unappealing spreads

    Quantum Asset Management Co. also recommends avoiding higher-risk India credit because the world’s-biggest lockdown has significantly weakened the debt-servicing capacity of many companies

    Have reasonable exposure to IT stocks; Infosys top pick: Anand Tandon

    ‘IT stocks will benefit from any weakness in the rupee’

    FPIs pull out Rs 3,741 cr in three trading sessions in July

    The latest withdrawal has come after investment of Rs 24,053 crore by FPIs in domestic markets in June.

    Expect catch up rally in silver in second half of 2020: Adrian Ash

    ‘Gold has really proven its value as a safe haven in the first half of 2020’

    How Sensex, US-dollar, 10-year G-sec performed during week ending June 25, 2020

    Here is a weekly tracker of returns from Sensex, 10-year government bond yield and US dollar vis-a-vis Indian rupee.

    Rupee set to crash past record low, former Reliance FX head says

    The portfolio inflows have done little to arrest the decline in the rupee.

    Gold rate slips as traders book profits at higher levels

    Globally, gold prices edged up on Tuesday after notching a more than one-month high in the previous session.

    RIL a must-own stock but keep risk factors in mind: Dipan Mehta

    ‘The leadership that Reliance has gained will continue for some more time’

    Rupee tumbles 31 paise against US dollar to lowest since April 28

    MOSL expects rupee to quote in the range of 75.80 and 76.40 for the day.

    Rupee falls 19 paise against the US dollar in early trade

    At 10.08 am, the rupee was down 19 paise at 75.7850 against the US dollar. It had opened at 75.80, compared with a previous close of 75.59.

    Rupee trades 11 paise higher; US Fed policy outcome eyed

    On the domestic front, market participants will be keeping an eye on inflation and industrial production number that will be released later this week.

    Borrowing costs for India’s shadow banks finally start to fall

    Policy makers are leaving no stone unturned to help NBFCs overcome the credit crisis.

    Dollar strengthens; euro falls ahead of ECB meeting

    The euro was at $1.2025, down 0.3% and retreating from three-month highs.

    The Indian rupee is getting crushed by its own central bank

    Re is the worst performer in emerging Asia this quarter and that’s because RBI is mopping up dollar, analysts say.

    Rupee opens 32 paise up at 75.03 against dollar

    For the day, MOSL expects the rupee (Spot) to quote in the range of 74.80 and 75.25.

    IndiGo Q4 results: Firm posts quarterly loss of Rs 871 crore as costs rise, pandemic hits

    Revenue for the Jan-Mar quarter grew just 4.5% to Rs 8,635 crore from Rs 8,260 crore a year earlier.

    Rupee inches 21 paise higher buoyed by gains in equities

    “For the day, we expect the rupee (Spot) to quote in the range of 75.40 and 76.20,” MOSL said.

    Deficit monetisation: Is it really as simple as RBI printing more money?

    India has a comfortable foreign exchange reserves of $487 billion currently.

    Rupee opens 8 paise up at 75.63 against dollar

    The dollar index, which measures the strength of the US dollar against a basket of six currencies, dropped 0.12 per cent.

    Now shop at Dubai airports using Indian Rupee

    The acceptance of Indian currency is good news for Indian tourists as earlier they lost a sizeable amount due to exchange rates.

    Rupee opens 6 paise down at 76.46 against dollar

    On the domestic front, market participants are awaiting for an announcement from the finance minister on the stimulus package to support MSMEs.

    Rupee slips 12 paise to 71.74 against dollar

    Rupee finally settled at 71.74, lower by 12 paise against its previous close.

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