Rupee weakens against US dollar in opening trade

Rupee weakens against US dollar in opening trade

The Indian rupee weakened marginally against the US dollar in opening trade, ahead of the key gross domestic product (GDP) and fiscal deficit data due later on Tuesday.

The local currency opened at 66.75 a dollar., the home currency was trading at 66.78, down 0.10% from its Monday’s close of 66.71.

Sensex index rose 0.17% or 48.46 points to 28,853.33. So far this year, it has risen 8.2%.

Most Asian currencies were trading lower. Thai baht was down 0.19%, Malaysian ringgit 0.15%, Taiwan dollar 0.06%. However, Japanese yen was up 0.12%, South Korean won 0.08%, China Offshore 0.05%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 101.17, up 0.04% from its previous close of 101.13.

Traders are cautious ahead of the US President Donald Trump’s first address to the US Congress on Tuesday.

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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 strengthens marginally against US dollar

Today Rupee strengthens marginally against US dollar

 

The Indian rupee Tuesday strengthened marginally against the US dollar tracking the gains in the Asian currencies markets.The local currency opened at 66.97 a dollar.the home currency was trading at 66.96—up 0.07% from its previous close of 67.02.

India’s retail inflation decelerated in January to 3.17% from 3.41% a month ago as prices of vegetables and pulses fell further.

Since the beginning of this year, the rupee has gained 1.36%, while foreign institutional investors have bought $319.70 million and $252.60 million from local equity and debt markets respectively.

Asian currencies were trading higher. South Korean won was up 0.21%, Singapore dollar 0.14%, Taiwan dollar 0.1%, Thai baht 0.05%, China Offshore 0.05%. However, Indonesian rupiah was down 0.04%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 100.98—up 0.02% from its previous close of 100.96.
 

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Today Rupee holds the line against US dollar at 68.06

Today Rupee holds the line against US dollar at 68.06

 

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

The rupee opened at 68.06 a dollar. At 9.15am, the home currency was trading at 68.07 a dollar—up 0.03% from Monday’s close of 68.10. So far this year, it has fallen 0.22%.

Asian currencies were trading higher. Japanese yen was up 0.12%, Philippines peso 0.12%, Singapore dollar 0.11%, Indonesian rupiah 0.05%. However, South Korean won was down 0.07%.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 101.46—up 0.27% from its previous close of 101.18.

 

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Rupee extends rally, rises 8 paise to 67.83 against dollar

Rupee extends rally, rises 8 paise to 67.83 against dollar

The rupee extended Wednesday's gains and opened 8 paise higher at 67.83 against the dollar on Thursday after the American currency lost some of the steam against a basket of top global currencies as investors booked some profit before the release of US economic data due later in the day.

The domestic equity market opened on a cautious note following weak global cues. The BSE Sensex opened 18.31 points, or 0.07 per cent, down at 26,224, while NSE's Nifty50 index opened 17.45 points, or 0.22 per cent, down at 8,043. The rupee was trading 6 paise higher at 67.85 against the dollar in morning trade around 9.30 am.

The domestic currency closed 12 paise higher at 67.91 against the dollar on Wednesday. However, foreign institutional investors (FIIs) stood net sellers in the domestic market as they offloaded shares worth Rs 621.37 crore with gross purchases and gross sales of Rs 3,288.88 crore and Rs 3,910.25 crore

The US dollar fell against most currencies on Wednesday with the Dollar Index falling 0.26 per cent as sentiments over US interest rate hike subsided. Gains in the euro and the Japanese yen led to profit booking in the US currency.

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Today Rupee trades 6 paise higher at 67.81 against US dollar

Today Rupee trades 6 paise higher at 67.81 against US dollar

 

The rupee was trading nearly 6 paise higher at 67.81 against the US dollar in early trade on Tuesday amid buying of the American currency by banks and exporters amid mixed global cues.

The domestic equity indices opened on a flat note. The 30-share Sensex opened 0.11 points down at 26,374, while the Nifty50 began the day 6.25 points higher at 8,110.

The rupee slipped around 11 paise against the dollar on Monday. Robust foreign money outflow coupled with near-term consequences of Fed rate hike largely kept sentiments cautious despite a dollar retreat.

The rupee is likely to stay under pressure due to evolving domestic uncertainties, weakening foreign trade and improving US monetary condition.

 

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Rupee opens nearly 2 paise up at 67.82 against dollar

Rupee opens nearly 2 paise up at 67.82 against dollar

The rupee opened nearly 2 paise higher at 67.82 against the dollar on Friday amid some selling of the American currency by banks and exporters. The US dollar continued to trade near to its 14-year high level against a basket of major currencies as markets repositioned for a faster pace of rate hikes by the US Federal Reserve over the next year.

The domestic equity market opened flat on Friday morning, following global cues. The BSE Sensex was trading 19.80 points higher at 26,538 in the first half-an-hour of trade, while NSE's Nifty50 was up 0.45 points at 8,154.

The local currency slipped 40 paise against the dollar on Thursday after the Fed rate hike the second time in a decade.

For Friday's session, Nirmal Bang Commodities said, "The rupee is likely to trade in the 67.70-68.00 range against the dollar on Friday."

Government bonds on Thursday slipped for the first time in three sessions, with the benchmark note falling to over one-month low. The benchmark 6.97% 2026 bond yield jumped to 6.52 per cent from 6.41 per cent on Thursday.

 

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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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