RUPEES
Rupee gains 0.1% against US dollar, ends at 83.38
The RBI intervenes in the market periodically via liquidity management, including through the selling of dollars, to prevent a steep fluctuation in the local currency, though it has fallen to record highs intermittently.
Rupee appreciates 14 paise; closed at 83.45 per dollar
Currency traders expect a range of 83.25 to 83.75 to a dollar next week and expect the local currency to close around 83.30/$1 tomorrow after inflows from the index inclusion come in.
India to enter into bilateral Rupee swap agreements with SAARC countries: RBI
The Reserve Bank of India, in collaboration with the Indian government, has unveiled a revised framework on currency swap arrangements with South Asian Association for Regional Cooperation (SAARC) countries for the period spanning 2024 to 2027.SAARC comprises Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka.
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.
Indian rupee gains 3.5 paise on Tuesday
The 10-year benchmark government bond also traded flat, with yields closing at 6.98% on Tuesday, up just one basis point from the last close. Yields have been touching a low of 6.95% to 6.96% in the middle of the day, but again rise as the day progresses.
Digital Rupee transactions slump after reaching initial RBI target
India's digital currency, the e-rupee, has seen a sharp decline in usage, dropping to 10% of its December peak, sources reveal. Initially boosted by incentives, daily transactions fell from 1 million to about 100,000 after these incentives waned. The Reserve Bank of India is now focusing on refining the technology and exploring new use cases.
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Chhattisgarh Operation: Naxals escape, fake rupee notes seized
Security forces recovered a huge cache of fake currency notes, along with equipment used to print them, belonging to Maoists from Chhattisgarh's Sukma district. The operation was a joint effort by the state police and CRPF, targeting Naxalites using fake currency in Bastar region markets.
Rupee at new low of 83.65 on strength in greenback
The Indian rupee weakened to a record low against the US dollar due to broad gains in the American currency and corporate outflows. The Reserve Bank of India intervened but refrained from significant action. The Chinese Yuan's weakness and corporate outflows also contributed to the rupee's decline, as noted by Shinhan Bank's vice-president.
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 falls to record low hurt by likely dollar outflows, importer dollar demand
The rupee declined to a lifetime low of 83.62 against the U.S. dollar in the latter half of Thursday’s trading session and was last quoted at 83.5975. The local currency had closed at 83.4550 in the previous session.
BPEA credit raises Rs 375 cr in re fund
Private equity firm BPEA Credit closed the first round of its latest rupee fund, SSTIF-I, targeting ₹750 crore with a green shoe option. Kanchan Jain leads the fund with a unique yield profile for 10-12 investments in various sectors.
Rupee rises 7 paise to 83.48 against US dollar in early trade
Rupee appreciates 7 paise to 83.48 against the US dollar, supported by foreign capital inflow and positive equity market sentiment; dollar index up at 105.01; Brent crude down to USD 84.14 per barrel.
Rupee at the mercy of politics? What’s the fate of the rupee?
The recent volatility in Indian markets and the rupee reflects a shift in the political landscape, with Narendra Modi's BJP failing to secure a majority. Despite forming the coalition government, its fortunes — and that of the Nifty and the rupee — will remain dependent on the allies.
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.
FOMC, FII action among 10 factors to dictate D-Street mood this week
The Nifty index closed the week with a 3.6% increase amidst two significant occurrences: the highly anticipated election results and the monetary policy decision by the Reserve Bank of India (RBI). As trading resumes on Monday, a range of significant domestic and international events scheduled throughout the holiday-shortened week are expected to influence market movements.
GIFT Nifty rises 100 points; here's the trading setup for today's session
Indian markets reacted to the NDA's election results with a 6% loss in Sensex and Nifty. Concerns over socialist policies were raised. Traders were cautioned by Kotak Securities. Adian Markets and Hang Seng futures showed varied performance. Oil prices fell slightly. Stocks in F&O ban.
India stocks perched at record highs as vote counting set to begin
India stock futures and rupee steady as votes in world's largest election to be counted. Prime Minister Modi expected to win third term, leading to market surge. NIFTY 50 index futures up 0.21% in early trade.
It's a party on Dalal Street as India m-cap soars to Rs 426 lakh crore
Indian equities surged to new highs on Monday as investors reacted positively to the likelihood of the Bharatiya Janata Party (BJP) winning with a strong majority based on exit polls. Benchmark indices jumped over 3%, the biggest gain in four years.
Learn with ETMarkets: What do global economic trends, and their implications mean to gold, currency markets?
The Indian rupee tends to weaken during such times due to increased risk aversion and capital outflows. A weaker rupee makes gold and silver more expensive in the domestic market, potentially leading to profit booking and increased liquidity among investors.
Indian stocks, bonds and rupee set to gain as polls show landslide BJP win
While the final results might differ from the exit polls, the strength of the projected victory is expected to benefit risk assets. Should the June 4 results align with the exit polls, analysts expect the NSE Nifty 50 Index to reach a new record
India election 2024: How markets may react to the outcome
India's national election, spanning six weeks and concluding on Saturday, has financial markets eagerly awaiting the verdict after counting on June 4.
Goldman sees India's stocks, bonds and rupee as top emerging market picks
Strong earnings growth is supporting the share market, while the country’s inclusion in international indexes, stronger government finances, and slowing inflation favor fixed income, analysts led by Kamakshya Trivedi, Danny Suwanapruti and Sunil Koul wrote in a note.
GIFT Nifty down 80 points; here's the trading setup for today's session
"Nifty has been consolidating in a broad range for the third consecutive day as investors remain watchful ahead of the big election outcome next week. We expect the Nifty to remain sideways to marginally positive on the back of reduced FII selling, prediction of above normal monsoon and last leg of Q4 results," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
FII action, rupee movement among 11 factors to set D-Street mood this week
Nifty closed the week with a 2.2% increase despite notable ups and downs, as seen in the India VIX reaching a 52-week peak with almost a 10% rise over four sessions. As trading resumes next Monday, numerous significant local and international events scheduled throughout the week are anticipated to influence market dynamics.
GIFT Nifty down 40 points; here's the trading setup for today's session
The rupee appreciated 13 paise to close at 83.37 against the US dollar on Friday, tracking positive sentiment in domestic equity markets and fresh foreign fund inflows.
Pre-market action: Here's the trade setup for today's session
"Overall, we expect markets to witness a gradual recovery. However, concerns regarding consistent FII selling, India VIX still above 20 levels, ongoing general election polling and the outcome could keep volatility higher," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial
GIFT Nifty down 5 points; here's the trading setup for today's session
The rupee stayed range-bound and settled 4 paise lower at 83.50 against the US dollar on Thursday, weighed down by unabated foreign fund outflows amid investors' weak appetite for riskier assets.
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