RBI INTERVENTION
Koo calls it a day; Paytm Bank, auditor lock horns
Once touted as India’s response to Twitter, it’s curtains for homegrown microblogging app Koo. Details on this and more in today’s ETtech Top 5.
Paytm Bank, auditor lock horns over business viability
Paytm Payments Bank faces audit qualification disputes over viability, seeking RBI intervention. Compliance issues led to operational restrictions, prompting directions to transfer businesses. KYC guideline non-compliance has halted income generation and eroded net worth.
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 closes higher, outperforms most Asian peers in first half of 2024
RBI interventions and global economic factors propelled the rupee's resilience. The JPMorgan index inclusion and current account surplus contributed to the rupee's strength against the dollar amidst changing global market dynamics.
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.
Rupee ends nearly flat aided by RBI intervention; logs weekly decline
The Indian rupee closed nearly unchanged on Friday as intervention from the Indian central bank prevented it from hitting a lifetime low even as a broadly stronger dollar pressured most Asian currencies.
- Go To Page 1
Rupee ends flat; state-run banks' dollar sales aid, forward premiums slip
The Indian rupee closed nearly unchanged on Thursday as pressure due to dollar demand from local corporates was blunted by state-run banks' dollar offers, likely on behalf of the Reserve Bank of India, traders said.
Rupee ends nearly flat after RBI prevents record low; US Fed, CPI in focus
The Indian rupee closed nearly flat on Wednesday even as dollar demand from local oil companies and other importers put pressure on the currency but likely intervention from the Reserve Bank of India helped avert a drop towards its all-time low.
India cenbank likely intervened in NDF to stop rupee from hitting record low, traders say
India's central bank likely intervened in the non-deliverable forward market before the local spot market opened on Wednesday to prevent the rupee from dropping to an all-time low.
Rupee closes at record low vs dollar ahead of US Fed statement
Recently released data showing a larger-than-expected jobs addition in the US has dampened hopes of the Federal Reserve lowering interest rates while sharp weakness in the Chinese yuan versus the US dollar over the past couple of days has dragged Asian currencies lower, dealers said.
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.
Rupee ends lower on jump in US bond yields, RBI intervention caps losses
The Indian rupee ended weaker on Monday, weighed down by a rise in U.S. bond yields, but likely intervention by the Reserve Bank of India (RBI) helped limit the currency's losses.
Rupee ends lower on importer, foreign banks' dollar buys
The Indian rupee ended weaker on Thursday, pressured by dollar demand from local importers and foreign banks even as most of its Asian peers gained.
Rupee falls though Asian peers gain; forward premiums tick up
Indian rupee weakens on Federal Reserve rate cut expectations. RBI intervention counters pressure from weak national election results and foreign equity outflows.
Rupee ends higher; RBI intervention, foreign banks' dollar sales help
The Indian rupee closed stronger on Wednesday, partially recovering from its slump in the previous session, aided by dollar sales from foreign banks and likely intervention from the Reserve Bank of India.
Rupee halts 3-day losing streak on flows; election outcome eyed
The Indian rupee ended higher on Thursday, halting a three-day losing streak, supported by dollar inflows related to the rebalancing of the MSCI equity indices.
Rupee strengthens to highest in a fortnight, logs weekly rise
The Indian rupee closed higher on Friday after rising to its highest in two weeks, aided by likely intervention from the Reserve Bank of India (RBI) and broad-based interbank dollar sales in the latter half of the session.
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.
UPI Service providers sought regulatory intervention to make transactions remunerative
The UPI payment ecosystem is currently under the sway of two major players – Google Pay, commanding a substantial 47% market share, and PhonePe, a Walmart subsidiary, holding a significant 37% share. This duopoly underscores the competitive landscape and the uphill battle faced by smaller players.
Rupee ends little changed; forward premiums inch up
The Indian rupee closed nearly flat on Wednesday as expectations that the Reserve Bank of India would likely intervene to cap a sharp weakness supported the local currency despite a decline in its Asian peers.
Indian rupee to keep in a tight range amid constant RBI intervention: Reuters poll
A recent drop in foreign exchange reserves to $640.33 billion, a six week low, shows the central bank has been selling dollars amid conflict in the Middle East and delayed expectations for rate cuts by the U.S. Federal Reserve.
Rupee ends at record closing low, wedges between outflows, higher Asia FX
The Indian rupee closed at a record low of 83.5375 against the dollar, stabilized by RBI intervention amid equity outflows. Analysts predict consolidation between 83.20-83.70, with Asian currencies and Korean won rising.
Rupee closes at fresh low of 83.44
On Wednesday, the local unit had closed at 83.4350. So far in 2024, the rupee has depreciated 0.3% against the US dollar on a closing basis.
Rupee ends at record closing low, likely RBI intervention helps cap losses
The Indian rupee fell to its weakest closing level on record, pressured by dollar demand from importers, while likely intervention from the Reserve Bank of India helped curb the local unit's losses.
Rupee bounces off record low on likely cenbank intervention, uptick in Asia FX
The Indian rupee closed stronger on Tuesday, as likely central bank intervention and an uptick in Asian peers helped it recover from last week's record lows.
Rupee ends higher on inflows, likely RBI intervention caps rise
The local unit had hit an over six-month intraday high of 82.65, but the Reserve Bank of India (RBI) likely purchased dollars via state-run banks to prevent a significant appreciation in the rupee, traders said.
Rupee retreats from six-month high on likely cenbank intervention
The rupee was at 82.7750 against the U.S. dollar as of 10:25 a.m. IST, up 0.05% compared with its close of 82.8225 in the previous session.
When IMF's Lagarde gave thumbs up to RBI’s FX intervention
"A few directors explicitly supported the authorities’ view that exchange rate stability reflects improvements in India’s external position and that foreign exchange interventions have been used to avoid excessive volatility not warranted by fundamentals," said the IMF report.
RBI's likely interventions support rupee
The US dollar index, which measures the greenback against six major global currencies, shot up on Thursday after data showed a higher-than-expected rise in headline inflation in the world's largest economy. The data strengthens the possibility of the Fed raising interest rates again. Higher US interest rates lead to a stronger dollar, exerting downward pressure on emerging market currencies like the rupee.
Load More
