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| 24 September, 2020, 06:07 PM IST | E-Paper
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    Forex News

    Rupee gains 11 paise to 73.34 against US dollar

    Rupee gains 11 paise to 73.34 against US dollar

    Market participants are looking forward to speeches by Federal Reserve policymakers due this week for further clues on the US central bank’s approach to inflation.

    Dollar clings on, yen creeps higher as Fed speakers in focus

    Dollar clings on, yen creeps higher as Fed speakers in focus

    Against a basket of currencies the dollar was steady at 92.943, roughly in the middle of a range it has kept for about two months.

    Net short dollar positions fall to $30.90 bln in latest week

    Net short dollar positions fall to $30.90 bln in latest week

    The value of the net short dollar position fell to $30.90 billion in the week ended Sept. 15, compared with a net short of $32.67 billion the previous week.

    Dollar set for weekly loss; Kiwi dollar hits 18-month high

    Dollar set for weekly loss; Kiwi dollar hits 18-month high

    The dollar - which had been boosted by the Federal Reserve upgrading its 2020 economic forecast earlier this week - gave up those gains, and was flat versus a basket of currencies, at 1049 GMT, set for a weekly loss of around 0.4%.

    Forex reserves down by $353 mn to $541.66 bn: RBI data

    Forex reserves down by $353 mn to $541.66 bn: RBI data

    During the reporting week, the fall in reserves was due to a decline in foreign currency assets (FCAs), a major component of the overall reserves. FCAs decreased by USD 841 million to USD 497.521 billion in the reporting week, the data showed.

    Rupee settles 21 paise higher at 73.45/$

    Rupee settles 21 paise higher at 73.45/$

    During the session, the domestic unit witnessed an intra-day high of 73.15 and a low of 73.55 against the greenback.

    Rupee opens 18 paise up at 73.47 against dollar

    Rupee opens 18 paise up at 73.47 against dollar

    The local currency was trading in a narrow range for the past few sessions as market participants awaited the outcome of the FOMC policy statement.

    Dollar steadies after falling overnight on downbeat U.S. data

    Dollar steadies after falling overnight on downbeat U.S. data

    The dollar gave up gains made after the Federal Reserve upgraded its 2020 GDP forecast this week to trade in negative territory on Thursday. It was last quoted at 92.866 against a basket of major currencies, and was on track for a 0.3% weekly loss.

    Rupee declines by 14 paise on strong dollar after US Fed guidance

    Rupee declines by 14 paise on strong dollar after US Fed guidance

    At the interbank forex market, the local unit opened on a weak note at 73.70, and finally closed at 73.66 against the American currency, registering a fall of 14 paise over its last close.

    Fed decision leaves forex market set for dollar short squeeze

    Fed decision leaves forex market set for dollar short squeeze

    Overambitious expectations for a dovish strategy and some disappointment at the level of ambiguity in the central bank’s guidance prevented a knockout blow on the beleaguered greenback.

    India's holdings in US Treasuries surges by a record $25.3 bn

    India's holdings in US Treasuries surges by a record $25.3 bn

    While 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 opens 22 paise down as dollar gains post Fed’s upbeat economic outlook

    Rupee opens 22 paise down as dollar gains post Fed’s upbeat economic outlook

    Following the Fed’s comments, the dollar index rose to a more than one-week high against its rivals.

    Rupee settles 12 paise higher at 73.52 against US dollar

    Rupee settles 12 paise higher at 73.52 against US dollar

    On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 243.91 points higher at 39,288.26 and the broader NSE Nifty rose 69.70 points to 11,591.50.

    Rupee sees high volatility against US dollar ahead of US Fed policy decision

    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.

    Ray Dalio warns of threat to dollar as reserve currency

    Ray Dalio warns of threat to dollar as reserve currency

    Dalio said in July that investors should favor stocks and gold over bonds and cash because the latter offer a negative rate of return and central banks will print more money.

    Yen climbs to two-week high on Fed anticipation

    Yen climbs to two-week high on Fed anticipation

    "There's a feeling in the market that maybe the Fed will try to act on its dovish tilt," said Rodrigo Catril, a senior currency analyst at National Australia Bank in Sydney. "Our sense is that there's a risk there that the Fed doesn't do much more than what it's done already," he said, which could lift U.S. yields and weigh on the yen.

    Rupee settles 16 paise lower at 73.64 against US dollar

    Rupee settles 16 paise lower at 73.64 against US dollar

    It opened on a strong note at 73.33, but lost ground during the day and finally closed at 73.64 against the US dollar, registering a fall of 16 paise over its previous close of 73.48.

    Rupee opens 12 paise higher at 73.37 against US dollar

    Rupee opens 12 paise higher at 73.37 against US dollar

    “USDINR (Spot) to quote in the range of 73.20 and 73.80,” brokerage Motilal Oswal Financial Services said.

    Dollar softer as sentiment recovers on vaccine hopes and deals

    Dollar softer as sentiment recovers on vaccine hopes and deals

    The dollar index dipped to 93.029, slipping further from a one-month high of 93.664 touched last Wednesday, with its low last week of 92.695 seen as an immediate support.

    Rupee pares early gains, settles 5 paise higher at 73.48 against US dollar

    Rupee pares early gains, settles 5 paise higher at 73.48 against US dollar

    At the interbank forex market, the domestic unit witnessed high volatility. It opened on a strong note at 73.40 against the US dollar, pared some of its gains and finally closed at 73.48 against the American currency, registering a rise of 5 paise over its previous close of 73.53.

    Rupee opens 13 paise up at 73.40 against dollar

    Rupee opens 13 paise up at 73.40 against dollar

    For the day, brokerage Motilal Oswal Financial Services expects USDINR (Spot) to quote in the range of 73.20 and 73.80.

    Pound haunted by Brexit, yen looks to Abe successor vote

    Pound haunted by Brexit, yen looks to Abe successor vote

    Against the euro, it slid to 5 1/2-month low of 92.54 pence per euro and last stood at 92.47.

    RBI remains net purchaser of US dollar in July, buys $15.973 bn

    RBI remains net purchaser of US dollar in July, buys $15.973 bn

    In FY20, the central bank net purchased $45.097 billion. It had bought $72.205 billion while sold $27.108 billion in the spot market.

    Forex reserves climb $582 mn to record $542 bn

    Forex reserves climb $582 mn to record $542 bn

    In the reporting week, the foreign currency assets (FCA), a major component of the overall reserves, increased by USD 269 million to USD 498.362 billion, the data showed.

    Rupee settles 7 paise lower at 73.53 against US dollar

    Rupee settles 7 paise lower at 73.53 against US dollar

    ​​​During the session, the domestic unit witnessed an intra-day high of 73.40 and a low of 73.61 against the greenback.

    Rupee slips 6 paise to 73.52 against dollar ahead of IIP data

    Rupee slips 6 paise to 73.52 against dollar ahead of IIP data

    For the day, brokerage Motilal Oswal Financial Services expects USDINR (Spot) to quote in the range of 73.20 and 73.80.

    Dollar finds footing after stocks slide, Brexit fears hammer pound

    Dollar finds footing after stocks slide, Brexit fears hammer pound

    In a volatile session overnight the pound languished while other majors whipsawed in tandem with moves in the euro and the U.S stock market.

    Rupee settles 9 paise higher at 73.46 against US dollar

    Rupee settles 9 paise higher at 73.46 against US dollar

    During 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 dollar

    Rupee opens 11 paise higher at 73.44 against dollar

    On 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.

    Euro holds gains as traders brace for ECB meeting

    Euro holds gains as traders brace for ECB meeting

    "The ECB is this week's biggest event by far and there is a lot at stake," said Masaru Ishibashi, joint general manager of trading at Sumitomo Mitsui Banking Corp.

    Rupee settles 5 paise higher at 73.55 against US dollar

    Rupee settles 5 paise higher at 73.55 against US dollar

    At the interbank forex market, the domestic unit opened at 73.67 against the US dollar, and finally ended the day at 73.55, registering a rise of 5 paise over its last close.

    Rupee opens 9 paise down at 73.69 against dollar

    Rupee opens 9 paise down at 73.69 against dollar

    According to Motilal Oswal Financial Services, escalation of tension between India and China has disturbed the overall market sentiment.

    Dollar and yen rise as tech selloff sends investors to safety

    Dollar and yen rise as tech selloff sends investors to safety

    "U.S. equity futures will likely be a guide to currencies today," said Commonwealth Bank of Australia's head of international economics, Joe Capurso.

    Rupee settles 25 paise lower at 73.63 against USD

    Rupee settles 25 paise lower at 73.63 against USD

    Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.43 per cent to 93.11.

    Rupee opens 29 paise down at 73.63 against dollar

    Rupee opens 29 paise down at 73.63 against dollar

    On the domestic front, market participants will be keeping an eye on the industrial production number, and a weaker-than-expected economic data could keep the currency weighed down.

    Dollar hangs on as traders turn to ECB; Brexit wobbles hit sterling

    Dollar hangs on as traders turn to ECB; Brexit wobbles hit sterling

    In thin holiday trade the greenback had edged 0.2% higher against a basket of currencies and rose by roughly the same margin against the euro to $1.1816.

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