In response to a strong U.S. dollar abroad, the rupee gave up all of its early gains and depreciated by 3 paise to close at 81.82 (provisional) on Friday. The declining inclination in the rupee was nonetheless restrained, according to forex traders, by the positive attitude on the domestic equity market. At the interbank foreign…
In the midst of a strong U.S. dollar abroad on Thursday, the rupee gave up all of its early gains to end the day 10 paise worse at 81.84 (provisional). The robust sentiment on the domestic stock market, according to forex traders, limited the rupee’s decline. The local unit started out at the interbank foreign…
On Monday, the rupee lost 25 paise to close at 82.10 (provisional) against the US dollar as investor sentiment was dampened by a strong US dollar abroad and a downward trend in domestic markets.Firm crude oil prices, according to forex traders, also weighed down the local currency. The domestic currency at the interbank foreign exchange…
The RBI reported on Friday that India’s foreign exchange reserves climbed by $6.306 billion to $584.755 billion for the week ending April 7. The currency kitty dropped by $329 million to $578.45 billion in the most recent reporting week, reversing a two-week upward trend. It should be mentioned that the nation’s currency reserves reached an…
On Friday, traders increased predictions of an impending halt to the U.S. Federal Reserve’s rate-hike cycle on signs of slowing inflation, sending the U.S. dollar plummeting to a one-year low versus a basket of currencies while the euro reached a one-year high. A day after inflation statistics indicated a moderating in consumer prices, data from…
After a weakening U.S. dollar in the foreign exchange market, the rupee strengthened by 5 paise to end the day Monday at 81.97 (provisional). The local unit gained 5 paise from its previous finish to close at the interbank foreign exchange market, closing at 81.97 (provisional) versus the dollar after having opened at 81.90 against…
Over the previous week, the rupee (INR) had no change. On Monday, it was valued at 82.3313 USD per unit. Good foreign inflows haven’t changed that. The net inflows during the previous week totaled more than $400 million, according to figures from the NSDL (National Securities Depository Ltd). This was aided by strong inflows into…
India became the largest buyer of seaborne crude from the former Soviet Union, overtaking China for the fourth consecutive month, buying a record 51.15 million barrels, or 1.65 million barrels per day (mbd), from Russia. Reliance Industries (RIL) and the Rosneft-backed Nayara Energy were private refiners that accounted for over 858,000 barrels per day, or…
On Monday, the rupee lost 10 paise to settle at 82.31 (provisional) against the U.S. dollar as investor mood was dampened by the robust foreign exchange performance of the U.S. dollar and high crude oil prices. The rupee depreciated by 10 paise from its prior close of 82.21 to 82.31 (provisional) on the interbank foreign…
When the Federal Reserve and other major central banks declared a concerted push to enhance dollar flows into the global financial system, experts suggested the U.S. dollar index is expected to remain bearish in the upcoming days. The announcement was made on March 19 by the Bank of Canada, the Bank of England, the Bank…
