- 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 5 paise lower at 73.43 against the US dollarOn 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 dollarAnalysts expect weaker-than-expected economic data on the domestic front to keep the rupee weighed down against the US dollar.
- Market takes Shaktikanta Das' signal positively as yields cool offThe 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 streakDuring 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 surplusConsensus 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 dollarOn Tuesday, the Indian rupee settled at 73.86 against the greenback.
- Rupee widens losses by 7 paise against US dollarAt 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 dollarOn 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 marketsThey 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 dollarOn 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 dollarOn Tuesday, the rupee depreciated 20 paise to settle at 73.58 against the US dollar.
- Gold, silver tumble on weak global trendThe 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 RBIWhile 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: EdelweissThe 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 weekIn 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 dollarDuring 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 dollarOn 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 dollarOverseas 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 dollarThe 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 valuesThe 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 dollarAt 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 timeBullion 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 demandOn Friday, local gold futures traded around 51,200 rupees ($699) per 10 grams, having retreated from a record 56,191 rupees hit earlier this month.
- Rupee posts biggest weekly gain in 20 months as RBI stands aside"The sharp fall in dollar/rupee spot has been very unexpected and traders are in shock, with every major support being tested," said Rahul Gupta, head of currency research at Emkay Global Financial Services.
- Rupee gains 40 paise; touches 73.90 against dollar after RBI Guv commentsThe rupee rose 40 paise from its closing level of 74.30 on Wednesday.In morning trade on Thursday, it had touched 74.36 against the American currency.
- Edible oil prices likely to fall by DiwaliWith palm oil accounting for over 60 per cent of the 15 million tonne annual vegetable oils import in India, a drop in global prices will impact the domestic prices of all edible oils, industry executives said.
- Gold, silver futures trade higher over rise in Covid casesMCX October gold opened at Rs 51,350 per 10 gm and touched a high of Rs 51, 468. MCX September silver opened on a positive note at Rs 65,983 per kg and touched a high of Rs 66,159.
- Rupee pares early gains, settles 1 paisa down at 74.33 against USDThe dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.12 per cent down at 93.18.
- Rupee hits over 5-month high, trades at 74.17 against dollarOverseas investors have poured in over Rs 40,000 crore in domestic markets on a net basis in August so far as the excess liquidity in global markets found its way to emerging markets like India.
- What's behind rupee's stellar rally against dollar? No, it's not RBIThe rupee gained 0.70% to close at 74.32/$, its strongest level since March 18.
- Rupee makes U-turn, logs steep 52 paise gains against US dollarThe 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 widensNon-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 bufferIt 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 tradeForex 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 tradePrime 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 banksICICI 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 dollarAt 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 highThe 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 dollarDuring 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 dollarAt 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 Q1Shares 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 dollarEarlier, 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 peersAmong 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 spreadsQuantum 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 JulyThe 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, 2020Here is a weekly tracker of returns from Sensex, 10-year government bond yield and US dollar vis-a-vis Indian rupee.