“The Indian rupee opened in the green on strength in domestic equity markets and a weak US dollar. However, the rupee weakened in the latter half of the day.” New Delhi: The rupee on Monday briefly touched the 80 per dollar mark. However, it closed just below that mark, reversing... The post appeared first on .

“The Indian rupee opened in the green on strength in domestic equity markets and a weak US dollar. However, the rupee weakened in the latter half of the day.” New Delhi: The rupee on Monday briefly touched the 80 per dollar mark. However, it closed just below that mark, reversing... The post appeared first on .

“The Indian rupee opened in the green on strength in domestic equity markets and a weak US dollar. However, the rupee weakened in the latter half of the day.” New Delhi: The rupee on Monday briefly touched the 80 per dollar mark. However, it closed just below that mark, reversing... The post appeared first on .

“The Indian rupee opened in the green on strength in domestic equity markets and a weak US dollar. However, the rupee weakened in the latter half of the day.” New Delhi: The rupee on Monday briefly touched the 80 per dollar mark. However, it closed just below that mark, reversing... The post appeared first on .

Mumbai Apr 26 PTI Snapping its two-day losing streak the rupee rose by 8 paise to close at 7656 against the US dollar on Tuesday following a rebound in regional currencies and expectations of foreign fund flows as the LIC IPO is likely to hit markets early in May A fall in crude oil prices also aided gains in the local unit However the appreciation bias in the local unit will be capped in the near term amid fears about the economic impact of Chinas COVID-19 lockdowns and an aggressive pace of the US rate hikes traders said At the interbank forex market the rupee opened at 7648 against the greenback and moved in a range of 7643 to 7669 in the day trade The rupee finally closed at 7656 higher by 8 paise over its previous close of 7664 Analysts said a rally in the stock markets and news of LIC IPO hitting the market during the first week of May supported the rupee Indian rupee inched up after two days of sharp sell-off following a rebound in regional currencies and domestic equities The fall in crude oil and commodity prices and expectations of foreign fund inflows from LIC IPO supported the rupee said Dilip Parmar Research Analyst HDFC Securities However the local unit is still not out of the woods as strength in the dollar against major currencies weaker economic growth and higher inflation are likely to limit the gains Broadly spot USDINR is expected to trade in the range of 76 to 77 while near term directions will be followed by risk moods and movement in Chinese yuan Parmar said LIC IPO is expected to attract foreign capital inflows which will be supportive for the rupee Therefore on one hand a strong US Dollar Index will keep USDINR above 76 but on the other hand LIC IPO and RBI intervention will keep the upside capped near 7680 levels on spot We expect a broad range of 76 and 7680 on spot said Anindya Banerjee VP Currency Derivatives Interest Rate Derivatives at Kotak Securities Ltd Jateen Trivedi Senior Research Analyst at LKP Securities said Rupee traded in the range of 7645-7665 with positive moves compared to yesterday Positive update on LIC IPO coming soon also helped inflows in the capital market giving strength to the rupee On the domestic equity market front the BSE Sensex ended 77672 points or 137 per cent higher at 5735661 while the broader NSE Nifty jumped 24685 points or 146 per cent to 1720080 Brent crude futures the global oil benchmark fell 049 per cent to USD 10182 per barrel The dollar index which gauges the greenbacks strength against a basket of six currencies surged 006 per cent to 10181 Foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 117405 crore as per stock exchange data PTI DRR MR

Mumbai Apr 26 PTI Snapping its two-day losing streak the rupee rose by 4 paise to 7660 against the US dollar on Tuesday following a rebound in regional currencies and domestic equities However the appreciation bias in the local unit will be capped in the near-term amid fears about the economic impact of Chinas COVID-19 lockdowns and an aggressive pace of the US rate hikes traders said At the interbank forex market the rupee opened at 7648 against the greenback and moved in a range of 7643 to 7669 in the day trade The rupee traded at 7660 at 1530hrs higher by 4 paise over its previous close of 7664 Indian rupee inched up after two days of sharp sell-off following rebound in regional currencies and domestic equities The fall in crude oil and commodity prices and expectations of foreign fund inflows from LIC IPO supported the rupee said Dilip Parmar Research Analyst HDFC Securities However the local unit is still not out of the woods as strength in the dollar against major currencies weaker economic growth higher inflation are likely to limit the gains Broadly spot USDINR is expected to trade in the range of 76 to 77 while near term directions will be followed by risk moods and movement in Chinese yuan Parmar said On the domestic equity market front the BSE Sensex ended 77672 points or 137 per cent higher at 5735661 while the broader NSE Nifty jumped 24685 points or 146 per cent to 1720080 Brent crude futures the global oil benchmark fell 049 per cent to USD 10182 per barrel The dollar index which gauges the greenbacks strength against a basket of six currencies surged 006 per cent to 10181 Foreign institutional investors were net sellers in the capital market on Monday as they offloaded shares worth Rs 330285 crore as per stock exchange data PTI DRR MR

Mumbai Apr 19 PTI Sliding for the fourth straight session the rupee depreciated by 21 paise to close at 7650 against the US dollar on Tuesday hit by persistent foreign fund outflows and prevailing risk-off sentiment globally amid geopolitical tensions At the interbank foreign exchange market the rupee opened at 7634 against the American currency and witnessed an intra-day high of 7625 and a low of 7653 It finally closed at 7650 down 21 paise from its previous close of 7629 According to Dilip Parmar Research Analyst HDFC Securities the rupee depreciated following foreign fund outflows from domestic equities Global investors rushed towards safe-haven currencies taking cues of higher global bond yields Surging commodity prices hawkish central bank and geopolitical worries stalled global growth recoveries he said A stronger dollar index foreign fund outflows and higher crude oil prices could push USDINR towards 7670 while the central banks dollar supply may limit the upside he said adding that the pair is expected to hold support around the psychologically key level of 76 The dollar index which gauges the greenbacks strength against a basket of six currencies was trading 002 per cent higher at 10079 Global oil benchmark Brent crude futures fell 118 per cent to USD 11182 per barrel On the domestic equity market front the 30-share Sensex ended 70359 points or 123 per cent lower at 5646315 points while the broader NSE Nifty plunged 21500 points or 125 per cent to 1695865 Continuing their selling spree foreign institutional investors offloaded shares worth a net Rs 587169 crore on Tuesday as per stock exchange data According to Sugandha Sachdeva Vice President - Commodity and Currency Research Religare Broking the rupee drifted lower against the US dollar amid a sell-off in domestic equities and strength in the dollar index Concerns about broadening inflationary pressures and tighter monetary policy have pushed the US 10-year treasury bond yields to their highest in three years and are fuelling the strength in the dollar index which is hovering close to two-year highs The dollar index touched a fresh two-year high of 10102 Besides the deepening crisis in Ukraine has spooked the market and accentuated supply-side constraints which are weighing on the local unit Sachdeva said In the near-term the Indian rupee is likely to trade with a negative bias but the 7670 mark is likely to act as a strong floor for the domestic currency and can lead to some renewed buying interest Sachdeva added Indian rupee traded lower on Tuesday on weakness in local equity markets and global risk-off sentiments Stronger US Dollar and surge in the US treasury yields are adding to the downside pressure on Rupee said Praveen Singh AVP- fundamental currencies and commodities analyst Sharekhan by BNP Paribas We expect Indian Rupee to remain subdued as Russia has intensified its attack on Ukraine leading to deteriorating global risk sentiments The US Dollar is also expected to remain firm amid hawkish Federal Reserve and firm US bond-yields Singh said US 10-year yield shot up to 2907 per cent the highest since December 2018 The rupee may trade in the range of 7560-7720 in the near-term Singh said adding We expect the USD-INR pair to test the all-time low of Rs 7720 in coming weeks PTI DRR ABM ABM

Mumbai Apr 19 PTI The rupee fell 22 paise to close at 7651 provisional against the US dollar on Tuesday tracking a strong American currency in the overseas market and significant foreign fund outflowsAt the interbank foreign exchange market the rupee opened at 7634 against the American currency and settled at 7651 down 22 paise from the previous closeDuring the session the rupee witnessed an intra-day high of 7625 and a low of 7653 against the American currencyOn Monday the rupee had ended 10 paise lower at 7629 against the US dollarAccording to Dilip Parmar Research Analyst HDFC Securities the rupee depreciated following foreign fund outflows from domestic equitiesGlobal investors rushed towards safe-haven currencies taking cues of higher global bond yieldsSurging commodity prices hawkish central bank and geopolitical worries stalled global growth recoveries Iyer saidA stronger dollar index foreign fund outflows and higher crude oil prices could push USDINR towards 7670 while the central banks dollar supply may limit the upside he said adding that the pair is expected to hold support around the psychological level of 76The rupee depreciated for the fourth straight day during which it has lost 38 paise against the American currencyThe dollar index which gauges the greenbacks strength against a basket of six currencies was trading 002 per cent higher at 10079Global oil benchmark Brent crude futures fell 118 per cent to USD 11182 per barrelOn the domestic equity market front the 30-share Sensex ended 70359 points or 123 per cent lower at 5646315 points while the broader NSE Nifty plunged 21500 points or 125 per cent to 1695865 pointsForeign institutional investors were net sellers in the capital market on Monday as they offloaded shares worth Rs 638745 crore as per stock exchange data PTI DRR BAL

Mumbai Mar 25 PTI The rupee rose further by 9 paise to close at 7624 against the US dollar on Friday following a fall in crude oil prices and weakness in the American currency in the overseas markets At the interbank forex market the local unit opened at 7615 against the greenback and witnessed an intra-day high of 7612 and a low of 7629 The rupee settled at 7624 registering a rise of 9 paise over its previous close of 7633 Meanwhile the dollar index which measures the greenbacks strength against a basket of six currencies fell 016 per cent to 9862 The rupee rebounded amid dollar softness and lower crude oil prices but trimmed the early gains following weaker domestic equities and foreign fund outflows said Dilip Parmar Research Analyst HDFC Securities Ahead of the financial year-end the rupee tends to show a high swing on the back of rebalancing-related inflows and outflows Parmar added The balance of risks for USDINR remains skewed to the upside following geopolitical worries and broad based selling by foreign institutions Spot USDINR is expected to settle in the range of 76 to 7650 this month medium term direction remains bullish as long as it holds 7570 Parmar noted Brent crude futures the global oil benchmark declined 127 per cent to USD 11752 per barrel According to Emkay Global Financial Services geo-political tensions continued to dominate market sentiments this week The members of the G7 countries said that they are ready to apply additional sanctions as required and will spare no efforts to hold Putin and his supporters accountable The US went ahead with imposing fresh sanctions on a dozen of Russian defence firms Global markets are clearly worried that the sanctions will affect the economic recovery going forward it said Crude oil prices have so far gained 10 per cent this week as European nations also mull sanctions on Russian oil and gas imports US central bankers were very active this week as most of them were unanimous in their call for aggressive rate hikes this year to curb soaring inflation in the US Any further upside in crude oil prices next week will put the rupee under pressure This will trigger a move towards 777714 levels again On the contrary any positive developments in the talks between Russia and Ukraine will help the Rupee strengthen towards 75777550 levels it added On a weekly basis the rupee depreciated 40 paise against the American currency According to Sriram Iyer Senior Research Analyst at Reliance Securities the Indian rupee appreciated on Friday against the US Dollar tracking the fall of the oil prices and marginally weaker greenback However the local unit ended weaker for the week largely due to the volatility in crude oil prices which dampened sentiment for risk assets in the region We might witness the Rupee appreciating further next week towards 7600 levels as foreign-currency inflows are expected next week which usually is seen at the end of the financial year Iyer said However investors will remain wary of the situation in Eastern Europe and escalation of tension there will push oil higher and in turn keep appreciating bias limited Iyer added On the domestic equity market front the BSE Sensex ended 23348 points or 041 per cent lower at 5736220 while the broader NSE Nifty slumped 6975 points or 04 per cent to 1715300 Foreign institutional investors remained net sellers in the capital market on Thursday as they sold shares worth Rs 174071 crore according to stock exchange data PTI DRR MR MR

Mumbai Mar 25 PTI The rupee rose further by 11 paise to 7622 against the US dollar on Friday tracking the weakness in the American currency in the overseas market At the interbank forex market the local unit opened at 7615 against the greenback and witnessed an intra-day high of 7612 and a low of 7629 The rupee quoted at 7622 at 1530 hrs registering a rise of 11 paise over its previous close In the previous session the rupee had appreciated 6 paise to settle at 7633 against the US dollar Meanwhile the dollar index which measures the greenbacks strength against a basket of six currencies fell 016 per cent to 9862 The rupee rebounded amid dollar softness and lower crude oil prices but trimmed the early gains following weaker domestic equities and foreign fund outflows said Dilip Parmar Research Analyst HDFC Securities Ahead of the financial year-end the rupee tends to show a high swing on the back of rebalancing-related inflows and outflows Parmar added The balance of risks for USDINR remains skewed to the upside following geopolitical worries and broad based selling by foreign institutions Spot USDINR is expected to settle in the range of 76 to 7650 this month medium term direction remains bullish as long as it holds 7570 Parmar noted Brent crude futures the global oil benchmark declined 127 per cent to USD 11752 per barrel On the domestic equity market front the BSE Sensex ended 23348 points or 041 per cent lower at 5736220 while the broader NSE Nifty slumped 6975 points or 04 per cent to 1715300 Foreign institutional investors remained net sellers in the capital market on Thursday as they sold shares worth Rs 174071 crore according to stock exchange data PTI DRR MR