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…
In a very volatile week that concluded October 7 amid mixed global cues and a falling rupee, the market rallied with a more than 1% gain, snapping a three-week losing skid. The Sensex added 764.37 points, or 1.33 percent, to 58,191.29, while the Nifty50 gained 220.3 points, or 1.28 percent, to 17,314.65 at the close…
The U.S. dollar index hit its highest level in two decades this year, while the rupee has been trading around eighty. The dollar has been on a tear. There are many factors contributing to the recent increase in the value of the dollar, some of which are hawkish central banks, particularly the Federal Reserve, recession…
The rupee traded early on Thursday in a range-bound as a strong dollar and worries over a hawkish U.S. Federal Reserve outweighed gains in domestic markets. At the interbank foreign exchange, the rupee touched 79.47 in initial deals after starting at 79.53 against the dollar, gaining 5 paise from its previous close. The rupee lost 35…
According to a Reuters poll, India’s battered rupee will remain vulnerable to a worsening trade balance and an aggressive U.S. Federal Reserve rate-hiking campaign into next year and trade close to its lifetime low versus the U.S. dollar. The rupee has hit its lowest point many times this year and would depreciate by more than…
Indian rupee, which on August 29 hit a new record low versus the dollar, is expected to strengthen during the following ten years. The Indian rupee has dropped to a historic low of 80 per dollar this year, continuing a long-term trend of devaluation versus the U.S. dollar. It may still weaken further in the…
On Friday, the Indian rupee saw its largest one-day gain in almost a year, supported by a steep decline in the value of the dollar, while bond prices dropped to their lowest levels in two and a half months, following declines in their American equivalents. Its highest single-day performance since August 27 of last year,…
Indian rupee rises 4 paise to 79.80 against the U.S. dollar in opening trade on Monday, supported by falling crude prices in global markets and weakness in the American currency overseas. At the interbank foreign exchange, the rupee opened lower at 79.90 against the dollar but recovered lost ground to quote 79.80, ender a gain…
Indian rupee depreciated 9 paise to 79.71 against the U.S. dollar in opening trade on Friday, tracking the strength of the American currency in the overseas market and rising crude oil prices. At the interbank foreign exchange, the rupee opened at 79.67 against the U.S. dollar and lost further ground to 79.71, registering a decline…
Indian rupee depreciated 22 paise to 79.46 against the U.S. dollar in early trade on Monday, tracking soften sentiment in the domestic equities. However, persistent foreign fund inflows into the capital market restricted the rupee’s fall, forex traders said. At the interbank foreign exchange, the rupee opened weak at 79.50 against the U.S. dollar and…
