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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