Today Rupee Hit four month high Against Us dollar In market

Today Rupee Hit four month high Against Us dollar In market

 

The Indian rupee on Tuesday hit a four-month high against the US dollar ahead of the key events in domestic as well as international markets due later this week.

Gains in the rupee was also due to continued buying from foreign institutional investors (FIIs) in both local equity and bond markets. So far this year, FIIs have bought $1.76 billion and $430.60 million from local equity and debt markets, respectively.

The local currency opened at 66.67 a dollar and touched a high of 66.61—a level last seen on 10 November. At 9.54am, the home currency was trading at 66.61—up 0.14% from its Monday’s close of 66.72. Year to date, the rupee has gained 1.9%.

Asian currencies were trading stronger. South Korean won was up 0.53%, Taiwan dollar 0.18%, Singapore dollar 0.05%, Indonesian rupiah 0.04%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 101.66—up 0.01% from its Monday’s close of 101.64.

 

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Today Rupee opens at 68.24 a dollar, weakens on Asian cues

Today Rupee opens at 68.24 a dollar, weakens on Asian cues

 

The Indian rupee on Monday weakened against the US dollar, tracking losses in the Asian currencies markets.

The rupee opened at 68.24 a dollar. At 9.15am, the home currency was trading at 68.26 a dollar, down 0.16% from Friday’s close of 68.16. So far this year, it has fallen 0.2%.

Asian currencies were trading lower. South Korean won was down 0.33%, Philippines peso 0.25%, Taiwan dollar 0.24%, China offshore spot 0.15%, Indonesian rupiah 0.08%, Malaysian ringgit 0.06% and Singapore dollar fell 0.06%. However, Japanese yen was up 0.37% and China renminbi 0.1%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 101.42, up 0.23% from its previous close of 101.18.

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Rupee inches up 9 paise to 67.90 against dollar in early trade

Rupee inches up 9 paise to 67.90 against dollar in early trade

 

The rupee ruled higher against the dollar, rising 9 paise to 67.90 in early trade at the Inter-bank Foreign Exchange today on increased selling of the US currency by exporters and banks.

Forex dealers said that besides selling of the American unit by exporters, the dollar's weakness against some currencies overseas supported the rupee but a lower opening of the domestic equity market restricted the gains.

The local currency had depreciated by 8 paise to settle at 67.99 against the greenback yesterday on massive capital outflows that induced further instability to the currency markets.

Meanwhile, the benchmark BSE Sensex fell by 64.19 points, or 0.25 per cent, to trade at 25,915.41 in early trade.

 

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Rupee opens nearly 5 paise down at 67.47 against dollar

Rupee opens nearly 5 paise down at 67.47 against dollar

 

The rupee opened nearly 5 paise down at 67.47 against the dollar on Tuesday on account of buying of the American currency by banks and importers as its Asian peers weakened.

According to market experts, traders are cautious ahead of macro-economic data due later in the day and the two-day rate-setting meeting of the Federal Open Market Committee that begins later on Tuesday.

The local currency remained highly volatile last week but managed to end with sharp gains and tested a three-week high on the back of sustained selling of the greenback amid a rally in domestic equity market and inflow of foreign funds.

Foreign institutional investors turned net buyers in December, having bought shares worth of Rs 139 crore. They had offloaded shares worth of Rs 18,244 crore and Rs 4,306 crore in November and October, respectively, according to the data available with NSDL. 

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Rupee opens 6 paise higher at 67.84 against dollar

Rupee opens 6 paise higher at 67.84 against dollar

 

The rupee opened nearly 6 paise higher at 67.84 against the dollar on Wednesday amid selling of the greenback amid expectation of a rate cut by the Reserve Bank of India later in the day.

The domestic equity market opened on a flat note with a positive bias, following mixed global cues.

Benchmark BSE Sensex was trading 47.90 points, or 0.18 per cent, higher at 26,440 in early trade, while NSE's Nifty50 was up 18.85 points, or 0.23 per cent, at 8,162.
 

The benchmark 6.97 per cent bond maturing in 2026 ended at Rs 105.55 on Tuesday compared with Rs 105.44 the previous day. Bond yields eased to 6.20 per cent from 6.22 per cent.

The rupee also got some strength against the greenback after the apex bank decided to raise the ceiling for issue of securities under the market stabilisation scheme (MSS) to curb excess liquidity in the banking sector stemming from demonetisation.

 

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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 climbs 2 paise against dollar in early trade

Today Rupee climbs 2 paise against dollar in early trade

The Indian rupee gained nearly 2 paise against the US dollar in early trade on Thursday after opening on a flat note at 66.72. Some selling of the greenback by banks and importers supported the local currency. At 9.13 am, the rupee was trading 1 paise higher at 66.71 against the US dollar.

Meanwhile, domestic equity markets opened on a cautious note tracking mixed global cues. The 30-share index opened 9.16 points higher at 27,527, while the 50-share Nifty50 index opened 18.15 points down at 8,499.

On Wednesday, the domestic currency managed to recover from the early losses and ended steady at 66.72 against the greenback even as speculation around the US poll outcome and Fed policy review kept investors on the edge.

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Sebi may reconsider stand on self trade

Sebi may reconsider stand on self trade

 

Securities and Exchange Board of India is likely to review its decision of penalising brokers for 'self trades'. Sebi has called for a meeting of stock brokers and legal heads of stock exchanges on October 26 to discuss the matter.

Orders that match with each other with no resultant change in ownership are called self trades. Such trades have been reported in large numbers in the currency derivative segment.

Last year, Sebi issued notices to several brokers for execution of self trades and even launched proceedings to penalise them on the grounds that such transactions were manipulative.
 

Members of Parliament Hemant Tukaram Godse and Gajendra Singh Shekhawat had questioned Sebi's selective action against brokers for executing self trades. A letter written by Godse highlighted that 224 brokers on BSE and 319 brokers on NSE, including foreign players, escaped the scrutiny of the market regulator despite having executed many self trades in a single day. Sebi's action was even challenged in the Bombay HC by a Mumbai broker who was fined Rs 25 lakh for self trades.

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At Todays Market Rupee opens higher at 66.44 per dollar

At Todays Market Rupee opens higher at 66.44 per dollar

 

The Indian rupee opened higher by 4 paise at 66.44 per dollar on Wednesday versus previous close of 66.48.

The 10-year US Treasury note yield hovered near a three-week low of 1.546 percent touched overnight amid speculation that Europe's banking woes could delay the Fed's next interest rate hike.
 

US DOLLAR INDEX (USD)
US Dollar Index traded higher by 0.1 percent yesterday as recent weakness in the DX prompted the traders to place fresh bets. Moreover, robust release of CB Consumer Confidence data from the nation added to the strength. It increased to 104.1 in Sep’1 6 from previous month’s 101.8 thereby boosting optimism over the strength of the economy. Moreover, in yesterday’s US Presidential debate , markets considered that Hillary Clinton did better than her rival Donald Trump which added to the strength of the greenback. The Presidential debates are very important as half of America's likely voters rely on them to make their likely Presidential choice in the November 8 election. All the above factors boosted the demand for US Dollar which made an intraday high of 9 5. 58 and closed at 95.3 1 levels on Tuesday.

OUTLOOK
Rupee is likely to sideways to positive as sustained selling of the US Dollar by exporters and banks will keep the INR positive. However, weakness in t h e Asian market equities as markets remain cautious ahead of the Yellen speech will likely keep the Indian markets and its currency a bit pressurized.

 

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Today Rupee opens at 66.86 per dollar, gains 16 paise in market

Today Rupee opens at 66.86 per dollar, gains 16 paise in market

 

The Indian rupee gained in early trade on Thursday. It has opened higher by 16 paise at 66.86 per dollar versus 67.02 Wednesday.

The US dollar extended losses against a basket of major currencies after the US Federal Reserve left monetary policy unchanged and projected a less aggressive rise of interest rates in coming years.

US DOLLAR INDEX (USD)

The FOMC meeting was very important for the US Dollar Index which ended lower by 0.3 percent in yesterday’s trading session. The US Federal Reserve kept the key policy rates unchanged and hinted at the possibility of a rate hike by the end of 2016. Markets believe that Dec’16 would be that month since Nov’16 is when the Presidential Elections will be conducted and the US Fed does not want any unusual volatility. The US Fed Chairwoman expressed confidence in economic growth, but not enough to make a move this month. The committee also reduced its expectations both for economic growth and inflation this year to 1.8 percent and 4.7 percent respectively from 2 percent and 4.7 percent. All the above factors dented the demand for US Dollar which made an intraday low of 95.32 and closed at 95.67 levels on Wednesday.

OUTLOOK

Rupee is likely to trade higher in today’s trading session as markets discount the FOMC and BoJ monetary policy review where the interest rates was left unchanged. Weakness in the DX will in turn boost the demand of the Indian Rupee. Moreover, higher trading in global market equities will govern the trend of the Indian markets and its currency.

 

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Today Rupee opens higher at 66.99 per dollar in the market

Today Rupee opens higher at 66.99 per dollar in the market

The Indian rupee opened marginally higher at 66.99 per dollar on Wednesday versus 67.01 Tuesday.

US DOLLAR INDEX (USD)

The US Dollar Index had a volatile start and ended higher 0.2 percent yesterday as investors speculates whether the US Fed will hike interest rates or not in today’s monetary policy review. Markets are expecting no rate hike move in the upcoming policy meet; discounting the dovish comment s by Boston Fed President Eric Rosengren and Fed Governor Lael Brainard. Moreover, recent disappointing release of economic datasets excluding the inflation rate which surprisingly came on a better note has dimmed the chances of Sep’16 rate hike. However, they are expecting that the US Fed chairwoman Janet Yellen will give some hint on future rate hike timings due to which demand for DX got a boost which made an intraday high of 95.99 and closed at 95.98 levels on Tuesday.

OUTLOOK

Rupee is likely to depreciate in today’s trading session as heavy speculation prior to the release of FOMC monetary policy review will keep the DX volatile. Moreover, negative trading in Asian market equities will govern the trend of the Indian markets and its currency.

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Today Rupee opens flat at 66.97 per dollar in the market

Today Rupee opens flat at 66.97 per dollar in the market

 

The Indian rupee opened flat at 66.97 per dollar on Tuesday versus previous close 66.96.

The US dollar fell from over two-week high against a basket of major currencies on expectations that any Bank of Japan action this week would not weaken the yen and the Federal Reserve would refrain from raising rates.

US DOLLAR INDEX (USD)

The US Dollar Index traded lower by 0.3 percent yesterday as investors plays safe prior to the FOMC monetary policy meeting that is scheduled to be held today and tomorrow. This cautious stance and the recent strength in the currency have prompted the traders to book profits. Markets are expecting no rate hike move in the upcoming policy meet; discounting the dovish comments by Boston Fed President Eric Rosengren and Fed Governor Lael Brainard. Moreover, recent disappointing release of economic datasets excluding the inflation rate which surprisingly came on a better note has dimmed the chances of Sep’16 rate hike. All the above factors kept the DX pressurized which made an intraday low of 95.79 and closed at 95.77 levels on Monday.

OUTLOOK

Rupee is likely to trade higher as investors are expecting no unexpected move in today’s FOMC monetary policy meeting that will end tomorrow. This will keep the DX pressurized in turn proving support to the Indian Rupee. Moreover, gain in Asian market equities will govern the trend of t he Indian markets and its currency.

 

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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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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 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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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 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 flat at 67.04 per dollar at Currency market

Today Rupee opens flat at 67.04 per dollar at Currency market

 

The Indian rupee opened flat at 67.04 per dollar on Friday against previous close 67.04.The yen gained amid jittery trade ahead of today's much-anticipated policy review from the Bank Of Japan.

US DOLLAR INDEX (USD)

The American currency plunged by 0.3 percent in yes terday’s trading session as markets discounted the recent FOMC monetary policy review. The Federal Reserve made a comment that the labour market was finally getting back on track and near term risks to the American economy had started to fade. However, the inflation rate still lingered under the 2 percent target which prompted the US policymakers to keep the interest rates on hold. There was no major volatility in the DX since markets were not expecting a rate hike this time but wanted clues as to when the Feds would go for a rate hike in times of uncertainty like the post - Brexit effects and the upcoming US Presidential elections. The American currency made an intraday low of 96.25 and closed at 96.72.

OUTLOOK

Rupee is likely to trade negative as markets indulge in speculation prior to the BoJ monetary Policy review that is to be held anytime during the day. Markets expect aggressive easing by the BoJ so as to boost the Japanese economy. this will keep the Indian Rupee pressurized.

 

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Today Rupee opens higher at 67.06 per dollar at the Currency Market

Today Rupee opens higher at 67.06 per dollar at the Currency Market

The Indian rupee opened higher by 8 paise at 67.06 per dollar on Thursday versus 67.14 Wednesday.The USD lost ground marginally against most currencies. Passage of GST in this session will be a positive for the rupee." 

"We expect the USD-INR pair to trade in a range of 66.85-67.15/dollar today,". The dollar slipped against the euro and the yen after Fed stays pat.

US DOLLAR INDEX (USD)

In spite of the robust release of consumer confidence and n ew home sales data from the nation that came better than the forecasted levels, the American currency plunged by 0.2 percent in yesterday’s trading session. This weakness could be attributed to the increased speculation and caution in the market ahead of the FOMC monetar y policy review that is to be held today in the later part of the day. I nv estors will anxiously vouch for this meeting so as to gauge the timing of the interest rate hike which in turn has kept the DX pretty volatile. The American currency made an intraday low of 96.90 and closed at 97.17.

OUTLOOK

Rupee is likely to depreciate today as increased speculation with regards to US rate hike in today ’s FOMC meeting will keep the DX volatile in turn acting as a negative factor for the Rupee. However, state ministers agreed to implement GST bill on the principle that the tax rate will be lower t han the current levels . T his will provide some support.

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Today Rupee opens at 67.33 per dollar , down 6 paise at currency Market

Today Rupee opens at 67.33 per dollar , down 6 paise at currency Market

The Indian rupee slipped in the early trade on Wednesday. It has opened lower by 6 paise at 67.33 per dollar versus 67.27 Tuesday. 

NS Venkatesh of Lakshmi Vilas Bank said, "Outcome of the FOMC meeting will be key for the currency. Dovish comments indicate that rate hike has been pushed to December." He further added, "We expect the rupee to trade between 67.20-67.31/dollar today."

The dollar was steady against other currencies ahead of the Federal Reserve's policy announcement later today. The positive US economic data has increased expectations that the Fed could raise rates in December, boosting the relative attraction of the dollar. 

The yen fell in early asian trade on Wednesday on expectations of significant monetary stimulus by the Bank of Japan later in the week.

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