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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