INR
Rupee declines pressured by weak Asian peers, oil companies' dollar bids
Indian rupee weakens as Asian currencies fall amid strong dollar demand. US bond yield rise impacts currencies, with Chinese yuan and Korean won leading losses.
Rupee falls 11 paise to close at 83.537 against US dollar; 10-year G-Sec yield trades flat
The 10-year benchmark bond yields have been trading flat, but traders say that these levels are good. “Today there seems to be buying from mutual funds. They sold during the quarter end so they have to replenish their kitty”, they said. Liquidity eased a bit as the month began to a surplus of almost Rs. 28,000 crores due to government spending.
Rupee falls 11 paise to 83.45 against US dollar
The central government's fiscal deficit reached 3% of the annual estimates by May-end 2024-25. India's forex reserves surged to USD 653.711 billion, with FIIs selling shares worth Rs 23.09 crore. The RBI confirmed the increase in reserves, reflecting a positive economic outlook.
RBI announces SAARC currency swap framework for 2024-27
The Reserve Bank of India introduces revised currency swap frameworks for SAARC nations, providing INR, USD, and EUR support. The facilities offer backstop funding, short-term liquidity assistance, and access to member countries upon signing agreements.
Rupee gains for 3 straight sessions, settles at 83.57
The yield on the 10-year benchmark bond increased slightly but remains within market expectations, closing at 7.00% on Wednesday.
Rupee closes higher on uptick in Asian FX, foreign banks' dollar sales
The Indian rupee closed stronger on Monday at 83.4600 against the U.S. dollar, supported by gains in most Asian currencies. The Indonesian rupiah led the gains, while dollar sales from foreign banks helped the rupee, despite oil companies' bids eroding some gains.
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Rupee sees range-bound trade against US dollar in morning deals
The rupee traded against the US dollar in early trade, influenced by the equity market and factors like the dollar's strength and crude oil prices.
Indian rupee hits new lifetime low against US dollar. Are record block deals the culprit?
The Indian rupee fell to a lifetime low of 83.62 against the US dollar on Thursday. Record block deals worth Rs 23,000 crore on Wednesday, which included Vodafone Plc's stake sale in Indus Towers, is said to be among the triggers behind the INR slide. The local currency had closed at 83.4550 in the previous session.
Rupee falls to record low hurt by likely outflows, importer dollar demand
The currency fell to a record low of 83.6650 against the U.S. dollar in the latter half of Thursday's trading session, closing at 83.6425. This marks a decline from the previous session's close of 83.4550. Traders attributed the currency's weakness to a broadly stronger dollar and a weakening Chinese yuan, which exerted additional pressure on the Indian currency throughout the day.
Rupee ends at record low vs US dollar as Asian peers slip
The Indian currency has been hovering near its record low of 83.5750, a level it reached in April. However, regular market intervention by the Reserve Bank of India has helped to curb further decline, according to traders. Last week's trading was notably volatile due to the national election results, prompting increased hedging activity from importers and exporters, as indicated by data from a local clearing house.
Learn with ETMarkets: How inflation impacts INR & what currency traders should do?
The Indian Rupee (INR) is influenced by global economic trends, inflation, recession fears, and geopolitical tensions. Traders should monitor inflation, anticipate capital flows, and use hedging strategies in the forex market.
Rupee logs best intraday rise in over five months
The rupee's strengthening also spurred importer hedging on Monday, which eroded the currency's gains, while traders also cited bids from state-run banks when the local currency rose above 83.
RBI to boost rupee's internationalisation, liberalise norms for non-residents
The Reserve Bank of India (RBI) is intensifying efforts to internationalize the Indian Rupee (INR) by making regulatory changes for non-residents and enhancing the appeal of the GIFT City as an international financial center. The RBI plans to liberalize regulations related to INR accounts for non-residents and allow them to open rupee accounts outside India.
Rupee falls 9 paise to 83.27 against US dollar in early trade
Rupee depreciates 9 paise to 83.27 against USD on negative equities and high oil prices, influenced by domestic market sentiment and USD strength. Rupee opened at 83.22, traded at 83.27. Dollar index at 104.72, Brent crude at USD 84.40. Sensex down by 0.30%.
Rupee falls 9 paise to 83.27 against US dollar in early trade
The rupee declined to 83.27 against the US dollar on Wednesday, driven by negative equities trend and elevated crude oil prices, with interventions from RBI and anticipation of Lok Sabha election results.
Rupee rises 3 paise to 83.10 against US dollar in early trade
The rupee gained 3 paise against the US dollar, reaching 83.10, driven by positive domestic equities and USD weakness in global markets.
Lectrix EV to invest INR 100 crore in FY25; plans multiple launches to strengthen EV market position
The company is planning to launch its new 2W model pre-Diwali and one post-Diwali. Pritesh Talwar, President - EV Business at Lectrix EV is optimistic about creating its name in the 2W market as he believes there is enough space to sustain and create a brand image for multiple companies.
Rupee closes mildly weaker, forward premiums slip
The Indian rupee closed slightly down on Monday, unable to build on recent gains as local dollar demand pressured the currency even as most of its Asian peers rose.
Avaada Energy bags 1,050 MWp solar project
Avaada Energy has won a 1,050 MWp solar project through an NTPC-conducted auction, marking the largest single bid secured in the tender. The project, awarded at a tariff of INR 2.69 per kWh, is to be completed within 24 months of signing a 25-year Power Purchase Agreement (PPA). This achievement brings Avaada's portfolio to 15 GW in India.
India Playbook 2024: Aiming for a trillion dollars in forex reserves by 2029
India's economic trajectory for global investments is driven by stable macroeconomic environment, robust earnings growth, and significant contributions from software services and remittances. Inclusion in MSCI EM index and prominent Emerging Market Bond indices enhances India's investment landscape.
Rupee ends slightly higher even as most Asian currencies slip
"Think we'll see it drift lower towards 83.50 again," a foreign exchange trader at a foreign bank said, adding that weakness beyond that is unlikely given the likelihood of intervention by the Reserve Bank of India.
Rupee gains but lags behind Asian peers, forward premiums rise
The rupee was at 83.46 against the U.S. dollar as of 09:40 a.m. IST, up from its previous close at 83.50.
Rupee inches up on foreign banks' dollar sales, uptick in Asia FX
The dollar index was down 0.1% at 104.9, while most Asian currencies rose. The offshore Chinese yuan was up nearly 0.2%, while the Philippine peso was up 0.4%, leading gains.
Rupee dips on weak Asia, more equity losses
The rupee was at 83.52 to the U.S. dollar at 11:06 a.m. IST, down from 83.50 in the previous session. India's Nifty 50 Index, adding to last week's decline, dropped nearly 1% to the lowest in three weeks.
We expect 8% return from Nifty in INR terms for CY-24: Venugopal Garre
While at this juncture where we are, I will probably say that a win is definitely priced in, for sure, but probably in the 330-350 range, so it is that range which is getting priced in at this juncture, which is more or less something which they achieved in the previous election phase as well.
Rupee vs Dollar: INR to remain range bound in near term, offer hedging opportunities to importers, exporters
Flows from foreign portfolio investors (FPIs) would have an impact on the movement of rupee against the US dollar bringing it to the downside on occasion.
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