A collapse in imports during the coronavirus lockdown has left India awash with dollars. Now a further influx of greenbacks is expected as an embryonic economic recovery draws investors back. To banks, this means one thing: The local currency is a sitting duck for appreciation against a weakening dollar. Policy makers won’t want a stronger … Read more
The rupee on Tuesday opened 12 paise higher at 73.37 against the US dollar tracking gains in the domestic equity markets, easing crude oil prices and weakness in the dollar index. On Monday, the local currency pared most of its gains in the latter half of the session following weakness in the domestic equities. Market … Read more
Snapping its two-day losing streak, the rupee rebounded by 5 paise and settled at 73.55 (provisional) against the US dollar on Wednesday, even as the domestic equity market was trading with significant losses. At the interbank forex market, the domestic unit opened at 73.67 against the US dollar, and finally ended the day at 73.55, … Read more
The rupee stalled its three-session winning run on Monday, sliding 21 paise to 73.60 against the US dollar after fresh tensions along the India-China border dented forex market sentiment. At the interbank forex market, the domestic unit opened on a strong note at 73.26 but lost momentum as the trade progressed and finally ended at … Read more
The rupee on Friday opened 2 paise down at 73.84 against the US dollar following some buying in American currency by banks and importers. Earlier, the domestic unit rose sharply by 48 paise on Thursday following consistent inflows in the domestic equities. The currency also got trigger from the RBI governor who said the central … Read more
The rupee on Wednesday opened 11 paise higher at 74.93 against the US dollar following gains in the domestic equity market amid a weakening greenback overseas. Market participants are focussing on the important RBI policy statement that will be released on Thursday. There are hopes that the central bank could hold rates unchanged but commentary … Read more
Mumbai: The rupee pared some of its initial losses and settled 3 paise down at 75.04 (provisional) against the US dollar on Tuesday, even as domestic equity market was trading with significant gains. The rupee opened weak at 75.13 at the interbank forex market, then pared some of its early losses to settle at 75.04 … Read more
Mumbai: The rupee depreciated 9 paise to settle at 75.02 (provisional) against the US dollar on Wednesday tracking volatile domestic equities, rising crude oil prices and strengthening American currency. While foreign fund inflows supported the rupee, factors like strong dollar, volatile domestic equities and rising COVID-19 cases dragged the local unit down, Forex traders said. … Read more