Today Rupee opens lower at 67.04 per dollar at the currency Market

Today Rupee opens lower at 67.04 per dollar at the currency Market

 

The Indian rupee opened lower at 67.04 per dollar on Thursday against previous close 66.96. The us dollar rose to three-week highs against a basket of currencies after data showed that jobs gains in August were roughly in line with expectations, before paring gains on weak manufacturing data.

US DOLLAR INDEX (USD)

US Dollar Index traded on a flat note yesterday owing to the mixed release of economic datasets from the nation that prompted the traders to refrain from placing any risky bets. ADP Non - Farm Employment data came better than the expected levels in August’16. This clearly shows that the labor market of America is on track despite weakness in manufacturing and construction sector. Moreover, demand for previously owned houses surged in July’16 suggesting the housing market remains on solid ground despite last month's drop in home re - sales. The American currency made an intraday high of 96.25 and closed at 96.01 on Wednesday.

OUTLOOK
Rupee is likely to depreciate as yesterday’s robust release of pending home sales and ADP employment data from the US will boost the demand for the American currency in turn kee ping the Indian rupee pressurized. Moreover, disappointing release of India’s GDP data will further add to the woes.

 

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Today Rupee opens at 67.14 per dollar; down 8 paise in the Market

Today Rupee opens at 67.14 per dollar; down 8 paise in the Market

The Indian rupee opened lower by 8 paise at 67.14 per dollar on Monday versus 67.06 Friday.The dollar was near a two-week high against the yen after comments from Central Bank chiefs at the weekend reinforced the divergence between monetary policy in the US and other parts of the world.

Bank of Japan governor Haruhiko Kuroda reiterated a pledge to ease monetary policy further if necessary, saying that he would bolster economic stimulus "without hesitation."

USDINR
USINR pair recovered marginally from the low of 67.3 1 and finally settled at 37.39 moving 9 paisa. Pair i s still quoting within the narrow range. The pair is just holding below the immediate trend line resistance a break a bove that will extend till the resistance of 67.65. For the day, we recommend to buy above 67.42 for above mentioned targets.

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Todays currency market updates , Indian rupee opened marginally higher vs dollar

Todays currency market updates , Indian rupee opened marginally higher vs dollar

The Indian rupee opened marginally higher at 67.02 per dollar on Friday versus previous close of 67.05.

Dollar slipped marginally as some investors squared positions before the annual global central bankers' gathering in Jackson Hole, wyoming, where Federal Reserve Chair Janet Yellen may offer new guidance on US monetary policy.

US DOLLAR INDEX (USD)

In spite of the robust release of core durable goods and unemployment claims data from the nation, the American currency traded on a flat note yesterday. Reason for the same could be attributed to the investors focus on the Jackson Hole meeting which is scheduled to start today. Officials of other central banks and other senior financial officials will indulge into discussion about the world economy. Moreover, the m arkets will be looking for hints from Federal Reserve chair Janet Yellen regarding the Fed’s monetary plans, particularly the timing of a rate hike. FOMC members are expected to express their views in the days leading to the crucial meeting. The American currency made an intraday low of 94.56 and closed at 94.74 on Thursday.

OUTLOOK

Rupee is likely to trade higher as dollar movements in the overseas markets remain weak owing to the annual conference in Jackson Hole, Wyoming where the where the US Fed Chair Janet Yellen will speak today giving some light on interest rate hike timings.

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The Indian rupee opened marginally higher at 67.09 per dollar today

The Indian rupee opened marginally higher at 67.09 per dollar today

The Indian rupee opened marginally higher at 67.09 per dollar on Thursday versus previous close of 67.11.

Rupee is marginally weaker in-line with other EM currencies. We expect the USD-INR pair to trade between 67-67.25/dollar for the day,

US DOLLAR INDEX (USD)
After remaining pressurized for the past 2 - 3 days, the American currency finally surged by 0.3 percent in yesterday’s trading session. Reason for the same could be attributed to the investors focus on the Jackson Hole meeting which is scheduled to start today. Officials of other c entral banks and other senior financial officials will indulge into discussion about the world economy. Moreover, the markets will be looking for hints from Federal Reserve chair Janet Yellen regarding the Fed’s moneta ry plans, particularly the timing of a rate hike. FOMC members are expected to express their views in the days leading to the crucial meeting. All the above factors acted as a positive factor for the currency as demand got a boost. The American currency m ade an intraday high of 94. 87 and closed at 94.75 on Wednesday.

OUTLOOK

Rupee is likely to trade sideways as markets play safe prior to the annual conference meeting in Jackson Hole, Wyoming which will start today. This has kept the Asian markets including India pressurized.

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Today Rupee opens lower at 67.14 per dollar in domestic market

Today Rupee opens lower at 67.14 per dollar in domestic market

The Indian rupee opened lower by 8 paise at 67.14 per dollar on Wednesday versus 67.06 Tuesday.

The dollar index hold steady as investors reassess the outlook for US monetary tightening.

US DOLLAR INDEX (USD)

The American currency traded on a flat note percent yesterday as investors now shift their attention towards the Jackson Hole meeting where the US Fed chairwoman will give a statement. Markets await more clarity on wh en the policymakers might raise interest rates. Moreover, markets are discounting the FOMC meeting minutes where the members of the committee were divided over when the next rate rise should come. As per federal funds future rates, only 12 percent traders saw a chance of rate hike in Sep'16 from 24 percent. The American currency made an intraday low of 94.20 and closed at 94.49 on Tuesday.

OUTLOOK

Rupee is likely to trade negative as investors play safe ahead of the annual conference in Jackson Hole, Wyoming which is scheduled to be held tomorrow which has kept Asian markets pressurized. Moreover, markets believe t hat the newly elected RBI governor Urjit Patel being an inflation hawk will not rush in cutting interest rates soon unless and until he is fully satisfied with the inflation rate.

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The Indian rupee opened higher by 7 paise at 67.12 per dollar

The Indian rupee opened higher by 7 paise at 67.12 per dollar

 

The Indian rupee opened higher by 7 paise at 67.12 per dollar on Tuesday against previous close 67.19.

The dollar halts its advance against major currencies on hesitation ahead of a speech from the Fed chair on Friday.

US DOLLAR INDEX (USD) 

 

The American currency traded on a flat note percent yesterday as lack of important economic datasets from the nation kep t the trading volumes a bit light. Investors now shift their attention towards the Jackson Hole meeting where the US Fed chairw oman will give a statement. Markets await more clarity on when the policymakers might raise interest rates. Moreover, markets are discounting the FOMC meeting minutes where the members of the committee were divided over when the next rate rise should come. As per federal funds future rates, only 12 percent traders saw a chance of rate hike in Sep'16 from 24 percent. The American currency made a n intraday low of 94.43 and closed at 94.50 on Monday.

OUTLOOK
Rupee is likely to trade negative as markets believe that the newly elected RBI governor Urjit Patel being an inflation hawk will not rush in cutting interest rates soon unless and until he is fully satisfied t \\ with the inflation rate.

 

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Indian rupee opened lower by 13 paise at 67.19 per dollar on Monday versus 67.06 Friday.

Indian rupee opened lower by 13 paise at 67.19 per dollar on Monday versus 67.06 Friday.

The Indian rupee opened lower by 13 paise at 67.19 per dollar on Monday versus 67.06 Friday.

The dollar gained against major peers, as hawkish comments from a Federal Reserve official added to prospects that US interest rates will increase this year.
 

        DOLLAR INDEX (USD)

The American currency plunged by - 1.4 percent in the last week. Reason for the same could be attributed to the dovish stance in the FOMC meeti ng minutes which prompted the traders to book profits. Members of the FOMC committee were divided over when the next rate rise should come. As per federal funds future rates, only 12 percent traders saw a chance of rate hike in Sep'16 from 24 percent. On t he flip side the New York Fed President William Dudley spoke about the improving labour market thereby hinting that the US Federal Reserve might raise rates in its Sep’16 monetary policy review. Traders were so focused on this event that they even ignored the robust release of economic data sets from the nation like industrial production, unemployment claims, and housing starts data except for the inflation data which came below the forecasted levels.

OUTLOOK 

 

Rupee is likely to trade sideways as recent weakness seen in the DX will prompt the traders to place fresh bets which in turn will keep the rupee pressurized. However, markets are expected to cheer the appointment of Urjit Patel as the new RBI Governor as he bei ng the existing deputy governor is abreast of the economic matters in the country and will keep continuity in policy.

 

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Today Rupee opens at 66.95 per dollar; down 14 paise at currency Market

Today Rupee opens at 66.95 per dollar; down 14 paise at currency Market

The Indian rupee slipped in the early trade on Friday. It has opened lower by 14 paise at 66.95 per dollar versus 66.81 Thursday.

The dollar nursed declines on speculation of US interest rates will remain low amid unprecedented global stimulus.

US DOLLAR INDEX (USD)

The American currency declined by 0.1 percent yesterday owing to cautiousness in the market prior to the FOMC meeting minutes release that prompted the traders to book profits. In the meeting minutes, New York Fed President William Dudley spoke about the improving labour market thereby hinting that the US Federal Reserve might raise rates in its Sep’16 monetary policy review. US Dollar Index made an intraday low of 94.49 and closed at 94.69 levels on Wednesday.

OUTLOOK

Rupee is likely to trade negative after the New York Fed President William Dudley spoke about the improving labour market thereby hinting that the US Federal Reserve might raise rates in its Sep’16 monetary policy review. This will boost the demand for the DX in turn keeping the Indian Rupee pressurized.

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Today Rupee opens higher at 66.85 per dollar at Currency market

Today Rupee opens higher at 66.85 per dollar at Currency market

 

The Indian rupee opened marginally higher at 66.85 per dollar on Tuesday versus 66.89 Friday.

The dollar fell against a basket of currencies, undermined by recent soft US economic data that tempered expectations of a Federal Reserve interest rate hike this year.

US DOLLAR INDEX (USD)

The American currency declined 0.5 percent last week mainly due to the recent strength in the currency that prompted the traders to book profits. However, sharp losses were capped owing to the robust release of economic data sets from the nation. Number of Americans filing applications for unemployment benefits fell in the last week. Moreover, year on year import prices are still clawing back from the negative. Amid uncertain global conditions, there has been a decent demand for workers which clearly indicates that the labour markets have finally found some stability. US Dollar Index made a weekly low of 95.38 and closed at 95.68 levels on Friday.

OUTLOOK  

 

Rupee is likely to appreciate as optimism in the Asian market equities will govern the trend of the Indian markets and its currency. However , investors will keenly watch FOMC Minutes due tomorrow.

 

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SBI aims to Maintain Margin, Complete Merger process by FY17-end

SBI aims to Maintain Margin, Complete Merger process by FY17-end

State Bank of India (SBI), which saw a sharp decline in its slippages in the first quarter, is expecting strong growth in advances to counter pressure on margins. “Margin depression due to bad loan creation will hopefully reduce,” says SBI’s Chairman Arundhati Bhattacharya. Pressure will also reduce as deposit rates come down along with cost of funds.

The country’s largest public sector lender reported a 31.7 percent dip in net profit to Rs 2,520.96 crore while the net interest income rose 4.2 percent to Rs 14,312.31 crore in Q1. Inflation, which was higher in July on back of higher food inflation, is expected to ease a little in August.

However, liquidity continues to be good, she says, adding, the Reserve Bank should come close to achieving its 5-percent inflation target for January-March 2017. Pay hikes as well as festival season could lead to improvement in loan growth for the bank. Bhattacharya also reiterated the slippages guidance of Rs 40,000 crore for FY17.

“We are fully in control,” she says, adding, most of the big accounts have already been classified by SBI. Speaking on merger with its associate banks, Bhattacharya says the plan is to complete the exercise by end of current fiscal. The benefits of this, however, will be seen over next two years.

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Today Rupee opens marginally higher at 66.80 per dollar at the Currency market

Today Rupee opens marginally higher at 66.80 per dollar at the Currency market

The Indian rupee opened marginally higher by 4 paise at 66.80 per dollar on Friday versus 66.84 Thursday.

US DOLLAR INDEX (USD)
The American currency surged by 0.2 percent yesterday owing to the robust release of economic data sets from the nation. N umber of Americans filing applications for unemployment benefits fell in the last week. Moreover, year on year import prices are still clawing back from the negative. M arkets are still discount ing the robust release of ADP and NFP employment data from the nation that came far better than the expected levels in July’16. Amid uncertain global conditions, there has been a decent dem and for workers which clearly indicates that the labour markets have finally found some stability. US Dollar Index made an intrad ay high of 95. 91 and closed at 95. 84 levels on Thursday

OUTLOOK
Rupee is likely to appreciate as higher trading in the Asian market equities will govern the trend of the Indian markets and its currency.

 

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Today Rupee opens lower at 66.81 per dollar at Currency Market

Today Rupee opens lower at 66.81 per dollar at Currency Market

 The Indian rupee opened lower by 9 paise at 66.81 per dollar on Thursday versus 66.72 Wednesday.

The US dollar fell broadly as US treasury yields fell and investors waited on a speech by Federal Reserve Chair Janet Yellen later this month.

US DOLLAR INDEX (USD)

After standing strong in the past 2 - 3 days, the American currency fell by 0. 5 percent. This was mainly due to the recent strength in the currency that prompted the traders to book profits. However, sharp losses were capped as markets discount the robust release of ADP and NFP employment data from the nation that came far bet ter than the expected levels in July’16. Amid uncertain global conditions, there has been a decent demand for workers which clearly indicates that the labour markets have finally found some stability. US Dollar Index made an intraday low of 9 5.38 and clos ed at 9 5.61 levels on Monday.

OUTLOOK

Rupee is likely to trade positive as markets discount the recent RBI monetary policy review where the governor kept the rates unchanged which went with the markets predictions. Moreover, weakness in the DX will keep the INR supportive.

 

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Today Rupee opens higher at 66.68 per dollar, gains 16 paise at the Currency Market

Today Rupee opens higher at 66.68 per dollar, gains 16 paise at the Currency Market

 

The Indian rupee started off Wednesday's trade on positive note. The currency has opened at 66.68 a dollar, up 16 paise compared with 66.84 a dollar in previous session.

NS Venkatesh of IDBI Bank says the rupee seems to strengthen because of growing confidence that the Federal Reserve will hike rates in this year.

According to him, the rupee is expected to trade today in a range of 66.85-67.05 per dollar. Meanwhile, the British pound fell after a Bank of England policymaker said that more quantitative easing was probably necessary if the UK’s economic decline worsens.

 

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Today Rupee opens flat at 66.84 per dollar at currency market

Today Rupee opens flat at 66.84 per dollar at currency market

        

The Indian rupee opened flat at 66.84 per dollar on Tuesday versus previous close 66.84.

The USD-INR pair continues to trade in the 66.50-67/dollar range with the strong portfolio flows getting absorbed by strong intervention," he said. The dollar held on its gains against Japan's currency, after strengthening the most in 1 1/2 weeks yesterday.

US DOLLAR INDEX (USD)

The American currency surged by 0. 2 percent as markets discount the robust release of ADP and NFP employment data from the nation that came f ar better than the expected levels in July’16. Amid uncertain global conditions, there has been a decent demand for workers which clearly indicates that the labour markets have finally found some stability. Moreover, rate cut by the bank of England led to Cable weakness against the DX which boosted the demand for the US Dollar Index. US Dollar Index made a n intraday high of 96.09 and closed at 96.3 4 levels on Mon day.

OUTLOOK
Rupee is likely to trade sideways as markets play safe prior to the RBI monetary policy review that is scheduled to be held to day at 11 am . Investors feel that the RBI gove rnor will leave the policy rates unchanged, leaving it to his successor to decide on future rate cuts.

 

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Today Rupee opens at 66.85 per dollar; down 8 paise in the Domestic Market

Today Rupee opens at 66.85 per dollar; down 8 paise in the Domestic Market

The Indian rupee opened lower by 8 paise at 66.85 per dollar on Monday versus previous close 66.77.

Pramit Brahmbhatt of Veracity said, "We expect the rupee to trade with a positive bias as far as it trades above 67/dollar.

 It will get steam from positive domestic cues to head towards 66.50/dollar." "The trading range for the spot USD-INR pair will be between 66.50-67/dollar, "he added.

"The trading range for the spot USD-INR pair will be between 66.50-67/dollar, "he added.

Dollar gained ground versus the yen amid the bigger-than-estimated increase in American payrolls.

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The Rupee is likely to positive Today

The Rupee is likely to positive Today

The Indian rupee opened higher by 6 paise at 66.85 per dollar on Friday against previous close 66.91.

The pound held near a one-week low following the Bank Of England's first interest-rate cut in more than seven years. The dollar, meanwhile, gained against a basket of currencies as investors continue to balance positions ahead of today's crucial US nonfarm payrolls report for July.

The dollar, meanwhile, gained against a basket of currencies as investors continue to balance positions ahead of today's crucial US nonfarm payrolls report for July.

US DOLLAR INDEX (USD)

The American currency rose by 0.2 percent in yesterday’s trading session as the markets are still discounting the robust release of ADP employment data that came far better than the expected levels in July’16. Amid uncertain global conditions, there has been a decent demand for workers which clearly indicates that the labour market s have finally found some stability. Moreover, the bank of England in yesterday’s monetary policy review cut interest rates and revived a bond - buying program which led to Cable weakness against the DX. All the above factors boosted the demand for the US Dollar Index.

OUTLOOK
Rupee is likely to trade positive as disappointing unemployment claims data from the US will likely keep the DX pressurized in turn boosting the demand for the Indian currency. Rajya Sabha has finally passed the GST bill which will lead to FII inflow thereby acting as a positive factor for rupee.

Today Rupee opens at 66.85 per dollar; gains 14 paise at the market

Today Rupee opens at 66.85 per dollar; gains 14 paise at the market

The Indian rupee opened higher by 14 paise at 66.85 per dollar on Thursday versus 66.99 Wednesday.

The dollar gained, recovered from six-week lows, as investors squared positions ahead of Friday's US non-farm payrolls report.

US DOLLAR INDEX (USD) 

The Ame rican currency rose by 0.6 percent in yesterday’s trading session owing to the robust release of ADP employment data that came far better than the expected levels in July’16 . Amid uncertain global conditions, there has been a decent demand for workers whic h clearly indicates that the labour markets have finally found some stability. Moreover, Japan's stimulus measures did not meet expectations when its Cabinet on Tuesday adopted a US$273 billion stimulus package to help revive growth in that country's listl ess economy. The measures included infrastructure spending and efforts to raise the birthrate. Investors fear the measures are not strong enough to stave off deflation due to which there was a slight demand seen in the safe - haven greenback.

OUTLOOK 

Rupee is likely to trade positive as Rajya Sabha has finally passed the GST bill which will lead to FII inflow thereby boosting the demand for rupee. 

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