Amid rising crude oil prices and ongoing capital outflows from abroad, the rupee started the session Monday on a flat note against the U.S. dollar. The rupee depreciated 1 paisa from the previous close to trade at 82.83 at the interbank foreign exchange from its opening price of 82.79. The rupee lost 3 paisas against…
As prices fluctuate during the current harvest, struggling coffee growers believe that now is the ideal time for the Center to strengthen the only multi-state co-operative Coffee Marketing Co-operative Ltd (COMARK) by providing financial support to the growers’ organization to engage in market intervention activities. Farm gate coffee prices have decreased by approximately a fifth…
On Thursday, the Indian Rupee began the day 15 paise higher at 81.70 to the dollar. The local currency is anticipated to strengthen against the US dollar due to strong global cues, increased equities market risk, and other factors. The USDINR pair is anticipated to trade flatly with a bias against it. Due to importers’…
On Tuesday, the rupee increased 0.2% to close at 81.67 against the dollar. Although the value of the Indian rupee has decreased during the previous week, there is a potential that it will turn around. The net foreign portfolio investor flows have been strong in November; as of this writing, the flows stood at $3.2…
The Indian rupee lost 66 paise to 81.57 against the U.S. dollar in early trade, following the American dollar’s rise in the international market and a flat domestic equity market. On the strength of encouraging domestic macroeconomic data and falling crude oil prices, the rupee strengthened versus the U.S.dollar in the previous session. The local…
Last week, the rupee recovered to 82.34 levels after hitting a new record low in the futures market due to the weakening of the dollar and the increase in risk appetite in domestic markets. The expectation that the Fed could pause the pace of rate hikes after its November meeting caused the dollar to lose…
Considering that this asset class offers considerable diversification from conventional equities and debt investments, the custom of purchasing gold for Diwali appears to have been carefully considered. Gold is a haven in unstable economic times. Along with being a hedge against inflation, it can also provide some protection against rupee devaluation, which is particularly important…
Amidst weaker-than-expected economic statistics from India, the rupee fell last week to a new record low and reached 82.85. While factory output fell for the first time in 18 months, higher food costs caused retail inflation to reach a five-month high of 7.4%. The U.S. core consumer price index jumped 6.6% from a year ago,…
USDINR opened with a gap up at Rs.82.20 in the previous session after closing at Rs.81.90 on Thursday, and the market saw primarily dollar purchasing by corporates and banks as rupee pressure persisted on Friday. With other Asian currencies plunging – CNH from 7.02 to 7.12 and KRW from almost 1400 to 1412 – with…
The rupee lost 8 paise to open at 79.82 against the U.S. dollar on Wednesday as traders awaited the U.S. Federal Reserve’s interest rate announcement for additional indications. The local currency, according to forex traders, suffered from the strength of the American dollar in international trade and a flat domestic equity market. Furthermore, the local…
