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Wednesday, March 8, 2017

Today Rupee weakens against US dollar on Asian cues

The Indian rupee on Thursday weakened against the US dollar tracking the losses in its Asian peers after better-than-expected private US employment data boosted the speculation that Federal Reserve may raise interest rates in its March meeting.

The rupee opened at 66.82 a dollar. At 9.15am, the home currency was trading at 66.84, down 0.2% from its Wednesday’s close of 66.70.

Asian currencies were trading lower. South Korean won was down 0.81%, Taiwan dollar 0.24%, Indonesian rupiah 0.15%, China offshore 0.14%, Malaysian ringgit 0.11%, Japanese yen 0.09%, China renminbi 0.08%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 102.133—up 0.06% from its Monday’s close of 102.07.

On Wednesday night, the ADP employment report showed private payrolls surged by 298,000 last month, far above expectations.

Sunday, January 29, 2017

Rupee opens flat against US dollar at 68.06 in the market

The rupee opened nearly 2 paise down at 68.06 against dollar on Monday on account of buying of American currency by banks and importers amid weak global cues.

The local currency closed nearly 4 paise higher at 68.04 against dollar on Friday. Recent, rally in the domestic equities, which helped stocks to post their highest weekly gains in nearly eight months, lend further support to rupee in the last trading session.

Asian currencies were trading higher as dollar weakened after Donald Trump’s order to halt some immigration compounded investor concerns about protectionist US policies.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 100.22, down 0.3% from its previous close of 100.53.

Read More - Currency Updates

Thursday, January 19, 2017

Today Rupee opens higher at 68.05 per US dollar in market

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

The rupee opened at 68.05 a dollar. At 9.15am, the home currency was trading at 68.05 a dollar, up 0.11% from Thursday’s close of 68.13. So far this year, it has fallen 0.2%.

Asian currencies were trading higher after US Federal Reserve chair Janet Yellen said she favours gradually raising interest rates. South Korean won was up 0.38%, Taiwan dollar 0.31%, Philippines peso 0.13%, Thai baht 0.13%, Japanese yen 0.13%, China Offshore spot 0.12% and Singapore dollar rose 0.05%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 100.99, down 0.16% from its previous close of 101.15.

Thursday, December 29, 2016

Today Rupee opens 15 paise higher at 67.95 against dollar

Rupee opened nearly 15 paise higher at 67.95 against the US dollar on account of fresh selling of American currency by banks and exporters in view of weakness in greenback overseas amid mixed global cues.

The dollar index, which tracks the greenback against a basket of major currencies, declined 0.5 per cent to 102.17, following a 0.6 per cent slide in the previous trading session. The local currency on Thursday closed 14 paise higher at 68.10 against dollar.

The Indian rupee on Friday strengthened for the second consecutive session against the US dollar tracking the gains in the local equity and Asian currencies markets.

The home currency opened at 67.96 against the US dollar. At 9.15am, the rupee was trading at 67.95 per US dollar, up 0.22% from its previous close of 68.10. So far this year, it has fallen 2.66%.

India’s benchmark Sensex index was trading at 26,440.90 points, up 0.28% or 74.75 points from its previous close. So far this year, it has risen 0.95%.

Asian currencies were trading higher as dollar index continues to weaken against its major peers amid lower treasury bond yields.

Tuesday, October 18, 2016

Today Rupee opens lower at 66.68 per dollar In the Currency Market

The Indian rupee opened marginally higher at 66.68 per dollar on Wednesday against previous close 66.72.

The US dollar was mixed as investors took some profits from the greenback's recent strength and evaluated whether the Federal Reserve is likely to raise interest rates later this year.

Pramit Brahmbhatt of Veracity said, "Rupee to trade with positive bias following positive sentiment in domestic equity market. See resistance for the USD-INR at 66.80/dollar levels. The USD-INR pair will trade in a range of 66.50-66.80/dollar."

Wednesday, July 13, 2016

Today Rupee opens Marginally higher at 67 per dollar

The Indian rupee opened with marginal gain of 5 paise at 67 per dollar on Thursday versus previous close 67.05. Mohan Shenoi of Kotak Mahindra Bank said,

"Global equity market rally of the last few days has slowed down. The market focus is now on Bank of England's MPC meeting with an expectation of rate cut or stimulus."

"The Bank of Japan stimulus package is also widely expected. Global currency markets are flat except yen weakness across the board. The trading range for the USD-INR is seen between 66.95-67.25/dollar for the day," he added.

The yen strengthened versus the dollar. Meanwhile, the pound slipped amid Theresa May's elevation as Britain's new prime minister.

Thursday, June 30, 2016

Today Rupee Opens Marginally Higher at 67.50 per dollar At currency Market

The Indian rupee opened marginally higher at 67.50 per dollar on Friday against previous close of 67.52.

Pound is headed for a second weekly drop as traders mull the political fallout from the brexit vote, along with signs the Bank Of England may cut interest rates in the coming months.

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