Rupee hits nearly three-month high against US dollar in opening trade

Rupee hits nearly three-month high against US dollar in opening trade

 

The Indian rupee hit nearly a three-month high in the opening trade against the US dollar ahead of the US jobs data due later on Friday. The rupee gained for the eight consecutive sessions, and this was the longest gaining streak since June 2011.

The local currency opened at 67.34 a dollar and touched a low of 67.32—a level last seen on 11 November 2016. At 9.15am, the home currency was trading at 67.35—up 0.03% from its previous close of 67.38.

India’s benchmark Sensex index rose 0.12% or 39.95 points to 28,266.56. So far this year, Sensex has risen 6%

Asian currencies were trading lower. Philippines peso was down 0.24%, China offshore 0.13%, Singapore dollar 0.1%, Thai baht 0.06%, Indonesian rupiah 0.06%, Malaysian ringgit 0.05%. However, Taiwan dollar was up 0.31%, China renminbi 0.22%, Japanese yen 0.11%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 99.818—up 0.03% from its previous close of 99.79.

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Indian rupee hit an eight-week high against the US dollar

Indian rupee hit an eight-week high against the US dollar

 

The Indian rupee hit an eight-week high against the US dollar on Thursday, as foreign institutional investors (FIIs) continued to buy in local equity markets.

The local currency opened at 67.42 a dollar and touched a high of 67.39, a level last seen on 8 December 2016. At 9.15am, the home currency was trading at 67.43, up 0.06% from its previous close of 67.48.

This was the seventh consecutive session when the rupee opened higher. FIIs bought nearly $517.81 million in equity over the last 10 trading sessions and have been buyers on all but one trading session over this period.

Asian currencies were trading mixed after US Federal Reserve officials gave little direction on when it might next raise rates. The Fed acknowledged rising confidence among consumers and business and reiterated its intention to lift rates gradually as the labour market tightens.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 99.58, down 0.07% from its previous close of 99.641.

 

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Today Rupee opens higher against US dollar on Asian cues

Today Rupee opens higher against US dollar on Asian cues

The Indian rupee on Tuesday strengthened against the US dollar tracking the gains in the Asian currencies markets.

The home currency opened at 68.08 against the dollar. At 9.15am, the rupee was trading at 68.09 per dollar, up 0.2% from its previous close of 68.23. Since 1 April, 2016, to date, rupee has fallen 2.4%.

Most of the currencies were trading higher after a key indicator of China’s private manufacturing showed the sector was robust.

China’s Caixin Manufacturing Purchasing Managers’ index (PMI) rose 51.9, compared to 50.9 in November and beating forecasts for 50.7, on the back of increased demand, Reuters reported.

India’s benchmark Sensex index was trading at 26,658.83 points, up 0.24% or 63.38 points from its previous close. Since 1 April till date, Sensex gained 5%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 102.7, down 0.05% from its previous close of 102.78.

 

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Rupee hits 7 week-low against US dollar in early trade

Rupee hits 7 week-low against US dollar in early trade

The rupee traded 47 paise down at 67 against the US dollar in early trade on Friday due to a strong demand for the greenback globally and outflow of foreign institutional investors’ capital.

Benchmark equity indices Sensex and Nifty50 opened in the red, following mixed global cues. The 30-share Sensex traded 243.97 points, or 0.89 per cent, lower at 27,273, while Nifty50 was down 70.70 points, or 0.83 per cent, at 8,455.

Foreign institutional investors (FIIs) were net sellers of stocks in the domestic market on Thursday, as they sold shares worth of Rs 2,044.52 crore with gross purchase and gross sales of Rs 5,175.86 crore and Rs 7,220.38 crore, respectively.

The rupee on Thursday retreated from a two-month high and closed nearly 20 paise down at 66.63 against the US currency.

Meanwhile, the equity market got back its winning ways on Thursday, as the Sensex advanced over 265 points and the Nifty50 reclaimed the key 8,500 level on emergence of a rally in the banking stocks in anticipation of rise in deposits after withdrawal of high value notes and investors coming to terms with the US poll result.

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Today Rupee Gains nearly 8 paise against the US dollar in early trade

Today Rupee Gains nearly 8 paise against the US dollar in early trade

 

The rupee gained nearly 8 paise against the US dollar in early trade on Thursday amid firm opening of the domestic equity market following robust global cues. However, the local currency opened on a flat note at 66.43 level against the US dollar.

The rupee was trading 7 paise higher at 66.36 against the US dollar around 9.15 am. The BSE Sensex and NSE Nifty opened 352.52 points and 123.60 points higher at 27,605 and 8,555, respectively.

On Wednesday, the rupee reversed its initial losses and closed with a sharp gain of 19 paise at a two-month high of 66.43 against the dollar. However, benchmark equity indices plunged over a percentage point on the government’s drive against black money and Donald Trump’s win in the US presidential polls.

The dollar index recovered from a low of 95.885 against major currencies and tested the 98.448 level on Wednesday.

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Today Rupee gains 7 paise against dollar in early trade at Market

Today Rupee gains 7 paise against dollar in early trade at Market

 

The Indian rupee was trading nearly 4 paise higher against the US dollar in early trade on Tuesday on account of selling of American currency by banks and exporters amid a positive start of domestic equity markets. The local currency was trading 3 paise higher at 66.71 at 9.14 am.
 

Meanwhile, the BSE Sensex opened 78.27 points, or 0.29 per cent, up at 27,537.26, while the Nifty50 index opened 42.95 points, or 0.51 per cent, up at 8,540.

Defying a recovery in domestic equity markets, Indian currency on Monday settled 4 paise down at 66.74 against the US dollar.
 

The rupee is likely to trade in 66.50-67.30 band and 10-year government security at 6.78-6.89 per cent range this week ahead of the outcome of the US presidential elections to be held on November 8, according to India Ratings. 

 

Equity markets snapped a five-day losing streak on Monday on positive global sentiments as chances of Hillary Clinton in the US election brightened following a relief from FBI in personal email server probe.

 

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Today Rupee climbs nearly 2 paise ; wipes off initial losses

Today Rupee climbs nearly 2 paise ; wipes off initial losses

 

The Indian rupee was trading nearly 2 paise higher at 66.68 in early trade on Monday on account of selling of American currency by banks and importers amid a firm start of domestic equity market. However, the local currency started the day around 4 paise lower at 66.74 against the dollar.
 

Benchmark equity indices BSE Sensex and NSE Nifty surged over a percentage point in early trade following firm global cues. The 30-share BSE Sensex was trading 278.12 points up at 27,552.27, while the 50-share Nifty index was trading 102 points up at 8,535.75.

The rupee on Friday recovered by 5 paise against the US currency to end at 66.70 on stray dollar selling even as stock markets continued to decline. According to market experts, continued selling by foreign institutional investors in equities and debt on the back of wavering global financial markets restricted the rupee gains on Friday. 

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Today Rupee advances 3 paise against dollar in early trade

Today Rupee advances 3 paise against dollar in early trade

 

The Indian rupee opened nearly 2 paise higher against the US dollar on Friday on account of selling of the greenback by banks and exporters amid a cautious start of domestic equity market tracking mixed global cues.

The rupee was up by 3 paise at 66.72 against the dollar. Benchmark BSE Sensex was up by 2.31 points at 27,432.59, whereas the Nifty50 was trading 8.40 points down at 8,476.55.

The local currency on Thursday snapped a two-day rally and closed down by 3 paise at 66.75 against the US dollar amid capital outflows from domestic equity markets. Foreign institutional investors remained net sellers in the domestic equity market on Thursday as they sold shares worth Rs 613.77 crore during the day, according to the data available with NSDL. Gross purchases of FIIs or FPIs stood at Rs 3,695.41 crore while their gross sales remained at Rs 4,309.18 crore

The dollar index ended lower as rising uncertainties on the US presidential election outcome supported gains in safe haven currencies like Yen and Swiss franc. According to ICICI Securities, the US December rate hike probability has fallen slightly to 69 per cent from 72 per cent since the growing tie between the two presidential candidates.

The brokerage house said, "We expect the US$ to gain support at lower levels. Utilise downsides in the dollar to go long on the US$INR pair."

 

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Today Rupee opens nearly 6 paise lower at 66.80 against dollar

Today Rupee opens nearly 6 paise lower at 66.80 against dollar

 

Rupee opened nearly 6 paise lower at 66.80 against the US dollar on Wednesday on account of selling on the US greenback by banks and exporters amid subdued opening of domestic equity markets. Benchmark stock indices BSE Sensex and NSE Nifty opened 197.29 points and 83.45 points down at 27,679.32 and 8,542.80, respectively.rupee was trading 7 paise down at 66.82 against the US dollar.

Selling by foreign institutional investors or foreign portfolio investors in the equity segment also dampened market sentiments on Wednesday as their net outflow stood at Rs 1,060.39 crore on Tuesday, according to the data available with NSDL. Their gross purchases stood at Rs 656.11 crore, gross sales remained at Rs 1716.50 crore.

The local currency advanced 8 paise on Tuesday after better-than-expected manufacturing sector growth, which climbed to a 22-month high in October, driven by a sharp increase in new orders.

 

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RBI may heed banks' request for tweaking S4A guidelines

RBI may heed banks' request for tweaking S4A guidelines

CNBC-TV18 learns from sources that RBI could be mulling a few tweaks to the S4A of Scheme for Sustainable Structuring of Stressed Assets. 

Banks have requested the regulator to consider their plea for a more watered-down version of the scheme which splits a loan into sustainable and unsustainable parts. The sceheme is meant for restructuring huge loans where the project is up and running.

However, the lenders now say they want the S4A to be applicable for non-project loans as well. Banks say a lower provision requirement is needed for the unsustainable portion of debt. 

They asked the RBI to allow changes in the repayment schedule of sustainable debt, too. Banks have also sought changes in norms to allow cases with a more than 50 percent component of sustainable debt to be applicable for S4A. RBI did not respond to CNBC-TV18's query.

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Today Rupee opens at 66.80 per dollar; down 10 paise In currency Market

Today Rupee opens at 66.80 per dollar; down 10 paise In currency Market

 

The Indian rupee opened lower by 10 paise at 66.80 per dollar on Monday versus 66.70 Friday.

The dollar on Friday posted its best weekly performance in more than seven months after strong US retail sales and producer prices data for September reinforced expectations the Federal Reserve would raise interest rates in December.

According to Motilal Oswal report, the INR may weaken today along with most Asian peers amid weak sentiment in Asian markets as Fed rate hike odds are near 65 percent in December.

"In global markets, the dollar will continue to find broad based strength after Federal Reserve Chair Janet Yellen hinted that the US economy may be allowed to overshoot its inflation target. US data continues to be better with initial jobless claims near 43 year lows and retail sales jumping up 0.6 percent last month," it added.

 

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Today Rupee opens at 66.63 per dollar; down 17 paise iN market

Today Rupee opens at 66.63 per dollar; down 17 paise iN market

The Indian rupee opened lower by 17 paise at 66.63 per dollar on Wednesday against previous close 66.46.

The greenback strengthened on upbeat economic data and bets on a year-end US interest rate increase. While the British pound took a beating, falling to its lowest level against the buck since 1985 on Brexit concerns.

 

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Today Rupee opens higher at 66.95 per dollar At currency market

Today Rupee opens higher at 66.95 per dollar At currency market

 

The Indian rupee opened marginally higher by 3 paise at 66.95 per dollar on Monday versus 66.98 Friday. Pramit Brahmbhatt of Veracity said, "A weak dollar versus peers and positive cues from global equity market will help the rupee appreciate today. The trading range for the day is seen between 66.80-67/dollar."

The US dollar hit a more than two-week high against a basket of major currencies on Friday after US inflation data boosted bets on a faster pace of Federal Reserve interest rate hikes, while uncertainty ahead of a Bank of Japan meeting limited the dollar's gains against the yen.

 

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Today Rupee consolidates, opens flat at 66.88 per dollar

Today Rupee consolidates, opens flat at 66.88 per dollar

The Indian rupee has opened at 66.88 a dollar on Thursday compared with 66.89 a dollar in previous session.The currency closed marginally higher at 66.89 a dollar yesterday compared with 66.92 a dollar on Monday. 

US DOLLAR INDEX (USD) 

US Dollar Index fell by 0.3 percent in yesterday’s trading session as latest comments by Fed Governor Lael Brainard on Monday that the Federal Reserve should avoid removing support for the U.S. economy too quickly, adding to bets the central bank would leave interest rates unchanged next week, has added to confusion regarding the timing of the rate hike. Earlier last week, Fed member Eric Rosengren on Friday warned that inaction on the part of rate hike could cost the US economy dearly. US Dollar Index made an intraday low of 95.2 and ended at 95.32 levels on Wednesday. 

OUTLOOK 

Rupee is likely to depreciate tracking losses in the Asian market equities ahead of crucial monetary policy decisions in the US and Japan. Also, a string of important data releases from the US in the evening session will restrict the risk appetite.

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Rupee falls further, opens 16 paise lower at 66.57/$

Rupee falls further, opens 16 paise lower at 66.57/$

 

The Indian rupee fell in early trade Friday for the second consecutive session on recovery in US dollar. The currency has opened at 66.57 per dollar, down 16 paise compared with previous day's closing value of 66.41 a dollar.

Bhaskar Panda, HDFC Bank says last Friday's disappointing US non-farm payroll data has pushed back expectation of a Fed rate hike. Emerging markets have reacted positively and spot USD-INR was thus able to break below Rs 66.80/USD.

Panda expects the USD-INR pair to consolidate around Rs 66.40/USD. Meanwhile, the US dollar rose against the yen, spurred by a jump in oil prices that put upward pressure on US. Inflation expectations and pushed traders to increase their outlook on a rate hike from the Federal Reserve. The euro rose to a two-week high after the European Central Bank downplayed the need for more economic stimulus.

 

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Today Rupee opens at 66.85 per dollar; gains 10 paise in market

Today Rupee opens at 66.85 per dollar; gains 10 paise in market

 

The Indian rupee opened higher by 10 paise at 66.85 per dollar on Friday versus previous close 66.95.The dollar was on the back foot after taking a tumble following a surprise contraction in US manufacturing in August, casting some doubts on the strength of US economic growth ahead of the closely-watched employment data due later in the day. 

 

US DOLLAR INDEX (USD)
US Dollar Index traded lower by 0.4 percent in yesterday’s trading session. Reason behind this slump could be attributed to the weak manufacturing data from the nation that fell to a seven - month low in Aug ’16. Demand for factory orders has declined thereby affecting production activity and raising renewed concern of industrial weakness. Furthermore, investors play safe ahead of the release of NFP job data that is to be release d later in the day today. Labor market is one of the factors which are looked into by the US fed for rate hike decision. Hence, investors are playing safe and refrain from placing any risky bets. The American currency made an intraday low of 95.60 and closed at 95.66 on Thurs day.

OUTLOOK

Rupee is likely to appreciate owing to weakness seen in the IS Dollar Index after the disappointing release of manufacturing data from the nation which will keep the Rupee supportive. Moreover, heavy influx of capital into the domestic markets will further act as a positive factor.

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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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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 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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