On Tuesday, the rupee lost 15 paisa to settle at 83.21 (provisional) against the US dollar as poor domestic equities and a strong US dollar dampened investor optimism. Forex traders claimed that the rupee was under pressure to fall due to subdued domestic macroeconomic indicators and ongoing FII withdrawals. The local currency started out at…
Earlier in the month, the rupee weakened and fell to an all-time low after data showed the trade deficit widened to a 10-month high of $24.2 billion in August from $20.7 billion the previous month. At the end of the week, JP Morgan announced the inclusion of India in its emerging market index. The Index…
In the opening hours of trading on Friday, the rupee strengthened by 38 paisa to 82.75 against the US dollar as investors’ confidence increased as a result of India’s inclusion in the JPMorgan bond index. Forex dealers predicted that JPMorgan Chase & Co.’s move to incorporate Indian government bonds in its benchmark emerging-market index would…
In early trade on Wednesday, the rupee traded in a narrow range against the US dollar as high crude oil prices and a strong greenback offset the support from favorable macroeconomic data. Foreign exchange dealers claimed that domestic industrial production and retail inflation data were better than expected and backed up investor confidence. Investors are…
Despite worries about the Chinese economy and a rise in the dollar’s value relative to its major rivals, the rupee has recently been stable in a range of 82.30 and 83.20. The RBI kept rates constant and kept its stance of withdrawing accommodating policy intact, as was expected. The RBI actively intervened to combat rupee’s…
In the week ending September 1, the market ended a five-week losing trend with solid gains. The benchmarks were under pressure due to conflicting global cues, weak monsoons in August, and rising crude oil prices; nevertheless, positive investor sentiment was buoyed on Friday by solid GDP and Manufacturing figures. The Nifty50 began the month of…
In response to a weakening US dollar on international markets on Wednesday, the rupee gained 6 paise to settle at 82.74 (provisional). Analysts claim that while rises in crude oil prices restrained the rupee’s upward potential, FII inflows into the capital market and robust equity markets supported the local currency. In the face of overnight…
Due to a recovery in the price of crude oil and the dollar on international markets, the rupee fell 8 paise to end the day at 82.71 (provisional) against the US dollar on Tuesday. According to FX dealers, foreign fund withdrawals from the equity markets also affected the outlook for the rupee. In the face…
In response to statements of intervention by the central bank and inflows of foreign capital, the rupee defied a four-week downturn by rising by more than half a percentage point. However, in light of rising food prices and unequal rainfall distribution that call for vigilant monitoring, the RBI’s minutes sounded hawkish. While local benchmark indices…
Amidst a strong dollar, an increase in US Treasury yields, and risk aversion in the global markets, the rupee declined sharply in the previous week, breaking through the significant resistance level of 83.00. The US economy was shown to be resilient by a deluge of strong economic data, which gave the dollar and yields a…
