Today Rupee opens marginally higher against US dollar in market

Today Rupee opens marginally higher against US dollar in market

 

The Indian rupee on Friday was trading marginally higher against the US dollar in the opening trade.
 

The rupee opened at 65.49 a dollar. At 9.15am, the home currency was trading at 65.50, up 0.04% from its previous close of 65.53.

Asian currencies were trading lower. Japanese yen was down 0.31%, Thai baht 0.23%, Singapore dollar 0.14%, China Offshore 0.13%, China renminbi 0.09%. However, Philippines peso was up 0.13%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 99.955—up 0.19% from its Monday’s close of 99.76.

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Today Rupee trades marginally higher against US dollar

Today Rupee trades marginally higher against US dollar

 

The Indian rupee on Thursday was trading marginally higher against the US dollar in opening trade.

The rupee opened at 65.41 a dollar. At 9.15am, the home currency was trading at 65.40, up 0.07% from its previous close of 65.44.

Asian currencies were trading lower. Thai baht was down 0.32%, Japanese yen 0.24%, China offshore 0.16%, China renminbi 0.15%, Singapore dollar 0.15%, Taiwan dollar 0.11% and Malaysian ringgit 0.07%. However, South Korean won was up 0.24%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 99.814, up 0.14% from its Monday’s close of 99.677.

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Today Rupee trades marginally higher against US dollar

Today Rupee trades marginally higher against US dollar

The Indian rupee on Thursday was trading marginally higher against the US dollar in opening trade, tracking gains in the local equity markets.

The local currency opened at 66.76 a dollar. the home currency was trading at 66.77, up 0.11% from its previous close of 66.83.

Most Asian currencies were trading lower after US Federal Reserve officials prompted gains in the dollar by signalling increased willingness to tighten monetary policy as early as March.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 101.89, up 0.13% from its previous close of 101.78.

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Indian rupee trading little changed against the US dollar

Indian rupee trading little changed against the US dollar

The Indian rupee on Wednesday was trading little changed against the US dollar in the opening trade.

The local currency opened at 66.93 a dollar. At 9.15am, the home currency was trading at 66.93—down 0.01% from its previous close of 66.92.

India’s 10-year bond yield was at 6.873%—from its Tuesday’s close of 6.875%. Bond yields and prices move in opposite directions. India’s benchmark Sensex index fell 0.28% or 80.12 points to 28,259.19 on Wednesday. So far this year, Sensex has risen 6.4%.

Asian currencies were trading higher. Taiwan dollar was up 0.15%, China Offshore spot 0.11%, Singapore dollar 0.06%, China renminbi 0.05%. However, South Korean won was down 0.28%, the Philippines peso 0.14%, Japanese yen 0.07%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 101.26—up 0.01% from its previous close of 101.25.

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Today Rupee weakens against US dollar on Asian cues

Today Rupee weakens against US dollar on Asian cues

 

The Indian rupee on Tuesday weakened against the US dollar, snapping a nine-day rally, tracking losses in the Asian currencies markets.

Traders are cautious ahead of the Reserve Bank of India’s (RBI) bi-monthly monetary policy review meeting on Wednesday.

The rupee opened at 67.29 a dollar. 15At 9.am, the home currency was trading at 67.31—down 0.13% from its previous close of 67.22.

Asian currencies markets were trading lower. Taiwan dollar was down 0.39%, South Korean won 0.38%, Singapore dollar 0.36%, Malaysian ringgit 0.22%, China offshore spot 0.19%, Philippines peso 0.17%, Japanese yen 0.11%, China renminbi 0.1%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 100.05—up 0.14% from its previous close of 99.91.

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Rupee opened nearly 5 paise down at 68.23 Against Dollar

Rupee opened nearly 5 paise down at 68.23 Against Dollar

 

The rupee opened nearly 5 paise down at 68.23 against dollar on account of buying in American currency by bank and importers ahead of a news

conference by the US President-elect Donald Trump in which he is expected to spell out more about his plans for the economy.

The local currency on Tuesday wiped off most of its early strong gains but eventually managed to end higher by three paise at 68.18 against the US dollar.

Among the Asian currencies, Japanese yen was down 0.233%, Thai baht 0.090%, Philippines peso 0.081%, China renminbi 0.051%, Indonesian rupiah

0.023%, However, Taiwan dollar was up 0.16%, China Offshore 0.141%, Singapore dollar 0.028% and South Korean won 0.018%.

The 10-year bond yield was trading at 6.411%, compared to Tuesday’s close of 6.398%. Bond yields and prices move in opposite directions.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 102.11 up 0.10% from its previous close of 102.01.

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Rupee opened nearly 13 paise higher at 68.08 against the dollar

Rupee opened nearly 13 paise higher at 68.08 against the dollar

 

The rupee opened nearly 13 paise higher at 68.08 against the dollar on Tuesday amid selling of dollars by banks and exporters. The domestic equity market opened in the green following mixed global cues.

The rupee was trading nearly 20 paise up at 68 against the dollar around 9.30 am (IST).

The local currency plunged over 25 paise on Monday to close at 68.21 against the greenback on rising concerns over a drop in the country’s economic growth.Most of the Asian currencies were trading higher as dollar index dropped amid narrowing US yield curves.

South Korean won was up 0.92%, Indonesian rupiah 0.46%, Japanese yen 0.38%, Singapore dollar 0.22%, China renminbi 0.16%, Thai baht 0.1%, Malaysian ringgit 0.07%, Philippines peso 0.06%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 101.67—down 0.26% from its previous close of 101.93.

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Rupee opens nearly 15 paise higher at 67.90 against dollar

Rupee opens nearly 15 paise higher at 67.90 against dollar

 

The Indian rupee on Thursday strengthened for the second session against the US dollar, tracking the gains in the Asian currencies markets.

The home currency opened at 67.91 against the dollar. At 9.15am, the rupee was trading at 67.90 per dollar, up 0.20% from its previous close of 68.05. Since 1 April 2016 till date, rupee has fallen 3.1%.

Overnight, the US Federal Reserve minutes showed the central bank is concerned about a strengthening dollar, and that more fiscal stimulus could raise demand above sustainable levels, according to a Reuters report.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 102.18, down 0.15% from its previous close of 102.70.

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Rupee trades 9 paise higher at 67.45 against US dollar in early trade

Rupee trades 9 paise higher at 67.45 against US dollar in early trade

 

The rupee was trading nearly 9 paise higher at 67.45 against the dollar in early trade on Wednesday amid some selling of the American currency by exporters and corporate houses ahead of the FOMC policy rate decision later in the day. The domestic currency opened at 67.54 against dollar on Wednesday.

The domestic equity market opened on a flat note. Benchmark BSE Sensex opened nearly 10 points higher at 26,707, while NSE's Nifty50 index opened 7.55 points up at 8,229.

The local currency had closed 12 paise down at 67.54 against dollar on Tuesday. Foreign portfolio investors were net buyers in the stock market on Tuesday, having bought shares worth of Rs 334.03 crore with gross purchase and gross sales of Rs 6,379.87 crore and Rs 6,045.84 crore, respectively. 

 

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Today Rupee opens nearly 16 paise down at 67.52 against dollar

Today Rupee opens nearly 16 paise down at 67.52 against dollar

 

The rupee opened nearly 16 paise down at 67.52 against the dollar on Friday on account of selling of the greenback by banks and importers.

The domestic currency was trading 22 paise down at 67.58 in early trade around 9.15 am.

Extending its gains for the third straight day, the rupee on Thursday closed at a near one- month high of 67.36, up 27 paise against the dollar.

The domestic equity market opened higher, following firm global cues. The BSE Sensex opened 94.25 points, or 0.35 per cent, higher at 26,788, while NSE's Nifty50 index rose 24.85 points, or 0.30 per cent, to 8,271.

Government bonds ended little changed on Thursday, as the RBI Monetary Policy Committee's surprise decision to keep rates steady dissuaded investors from adding fresh positions.

The benchmark 6.97 per cent bond maturing in 2026 ended at Rs 104.07 on Thursday against Rs 104.00 on Wednesday. As a result, bond yields fell to 6.40 per cent from 6.41 per cent on the previous day.

 

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Rupee appreciates nearly 5 paise to 68.72 against US dollar

Rupee appreciates nearly 5 paise to 68.72 against US dollar

 

Indian rupee appreciated around 5 paise in early trade on Tuesday on account of some selling of American currency by banks and exporters. Meanwhile, domestic equity markets opened on a flat note with marginal gains. The NSE Nifty opened 4.65 points, or 0.06 per cent, up at 8,131.55, while BSE Sensex opened 58.45 points, or 0.22 per cent, higher at 26,408.62.

The local currency opened nearly 4 paise higher at 68.73 against dollar. At 9.15 am, rupee was trading 5 paise up at 68.72.

Rupee on Monday settled 30 paise down at 68.77 against dollar on account of sustained foreign fund outflows. Foreign institutional investors, or FIIs, sold shares worth Rs 461.29 crore on November 28 with gross purchases and gross sales stood at Rs 3,770.32 crore and Rs 4,231.61 crore, respectively.

According to market experts, ongoing redemption pressure on foreign currency non-resident (FCNR) deposits also aided to the rupee fall.

 

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Rupee wipes off opening gains, down 12 paise against dollar in early trade

Rupee wipes off opening gains, down 12 paise against dollar in early trade

 

 

The Rupee wiped off its opening gains and was trading nearly 12 paise down at 68.54 against the dollar in early trade on Friday amid continued buying of the American currency by banks and importers.

The local currency opened 5 paise up at 68.42 against the greenback. Meanwhile, the domestic equity market opened flat with a negative bias following global cues.

The BSE Sensex was trading nearly 50 points, or 0.19 per cent, down at 26,267 around 9.30 am, while the NSE Nifty50 was down 22.25 points at 8,093.

The local currency closed higher by 27 paise at 68.47 against the US dollar on Friday compared with the previous close of 68.74. A rally in domestic equities supported market sentiments. RBI fixed the reference rate for the dollar at 68.46 and to the euro at 72.38 on Friday.

 

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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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Today Rupee opens marginally higher at 66.80 per dollar

Today Rupee opens marginally higher at 66.80 per dollar

The Indian rupee opened marginally higher at 66.80 per dollar on Wednesday versus 66.82 Tuesday.

The rupee will take cues from equity markets and trade between 66.65-67.10/dollar," he added.

The dollar hit its highest level in nearly eight months against the euro and a roughly three-month high against the yen on growing expectations that the Federal Reserve would raise interest rates in December, while the offshore yuan hit a record low.

Traders now see 78 percent chance that the Fed would raise rates in December, according to data from CME group's Fedwatch program.

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Axis Bank cuts lending rate by 0.05% across tenors

Axis Bank cuts lending rate by 0.05% across tenors

Private sector Axis Bank has cut the marginal cost of fund based lending rate by 0.05 percent across all tenors, effective tomorrow (Tuesday).

"The bank has decided to reduce the MCLRs (marginal cost lending rate) of the bank by 5 basis points across all tenors. This will be effective from October 18, 2016," the bank said in a regulatory filing.

For six-month period, the new MCLR will be 9.15 percent, one year at 9.2 percent, for two years it will be 9.3 percent and that for a tenor of three years it is fixed at 9.35 percent.

The overnight MCLR will be 8.8 percent.The new loans will be priced at these internal benchmark MCLRs, it added.

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Today Rupee opens flat at 66.85 per dollar In currency Market

Today Rupee opens flat at 66.85 per dollar In currency Market

The Indian rupee remained unchanged in opening at 66.85 per dollar on Friday against previous close of 66.85.

The US dollar snapped its longest slide since August as gross domestic product and jobless claims data bolstered speculation the Federal Reserve is set raise interest rates by year-end.

US DOLLAR INDEX (USD)
US Dollar Index traded higher by 0.14 percent yesterday as the robust release of GDP data from the nation boosted sentiment. The US economy expanded by 1.4 percent in the second quarter of 2016, higher than previously estimated. Robust hiring and wage gains have prompted the consumers to spend more thereby helping the economy to expand. Moreover, a report said that trading clients have withdrawn excess cash and positions held with Deutsche Bank. This prompted the investors to stay away from risky assets thereby boosting the demand for safe - haven DX. US Dollar made an intraday high o f 95.63 and closed at 95.47 levels on Thursday.

OUTLOOK

Rupee is likely to depreciate tracking losses in Asian market equities after a report said that Deutsche Bank’s trading clients have withdrawn excess cash and positions held with the bank. This will keep the Indian markets and its currency pressurized.

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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. Mohan Shenoi of Kotak Mahindra Bank says global currency markets are rangebound ahead of the September FOMC rate setting decision. According to him, the rupee is likely to trade in a range of 66.70-67 per dollar today. 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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Indian rupee snapped two-day winning streak on Thursday

Indian rupee snapped two-day winning streak on Thursday

The Indian rupee snapped two-day winning streak on Thursday. The currency has opened at 66.47 a dollar, down 11 paise compared with 66.36 per dollar on Wednesday.

The dollar fell to a more than one-week low against the yen after Bank of Japan policymakers are divided ahead of the central bank's next meeting. The Bank of Japan is split on whether to add stimulus at its September 20-21 policy meeting, where central bank governor Haruhiko Kuroda has said the board will conduct a comprehensive assessment of the effects of its massive stimulus programme.

US DOLLAR INDEX (USD)
The trend of US Dollar Index was mostly mixed in yesterday’s trading session as markets still discounted the disappointing release of non - manufacturing and job data from the nation that grew lesser than the forecasted levels in Aug’16. Even average earnings and unemployment data came on a bitter note which has fueled speculation in the economy with respect to the strength of the labor market of the US. All the above factors have raised caution in the market with respect to delay in rate hike timing. In spite of the above negative factors, the DX ended on a positive note. Reason for this strange movement could be attributed to the upcoming meeting of the ECB Governing Council which boosted the demand for safe - haven greenback.

OUTLOOK
Rupee is likely to depreciate as strength in the DX will keep the Indian Rupee a bit pressurized. Moreover, weakness in the Asian market equities will also governed the trend of the Indian markets and its currency.

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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 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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