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 opens 11 paise higher at 67.20 against US dollar

Today Rupee opens 11 paise higher at 67.20 against US dollar

 

The Indian rupee on Monday strengthened against the US dollar tracking the gains in the local equity and Asian currencies markets. The rupee gained for the ninth consecutive session, its longest winning streak since June 2011.Traders are cautious ahead of an event heavy week.

The local currency opened at 67.21 a dollar and touched a low of 67.20, a level last seen on 11 November 2016. At 9.15am, the home currency was trading at 67.22, up 0.17% from its previous close of 67.32.

The Reserve Bank of India (RBI) will meet on Wednesday for its bi-month policy. Seven out of 10 bank economists polled by Mint expect RBI to cut its repo rate by 25 basis points to 6%. The other three expect the repo rate to remain unchanged.

Asian currencies were trading higher as the dollar weakened after mixed US employment data reduced expectations for a US Federal Reserve interest rate increase in March.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 99.71, down 0.16% from its previous close of 99.87.

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Rupee opens stronger 3-week high ahead of Economic Survey

Rupee opens stronger 3-week high ahead of Economic Survey

The Indian rupee opened stronger for the fifth consecutive session against the US dollar tracking gains in its Asian peers, ahead of the key domestic as well as international events due later on Tuesday.

The rupee opened at 67.81 a dollar. At 9.15am, the home currency was trading at 67.84 a dollar— up 0.15% from Monday’s close of 67.95. So far this year, it has gained 0.1%.

On the domestic front, the government will present economic survey and gross domestic annual estimates after 12.30pm on Tuesday. The government will also issue fiscal deficit data for December after 4.30pm.

The dollar index, which measures the US currency’s strength against major currencies, was trading at 100.36, down 0.07% from its previous close of 100.43.

Asian currencies were trading higher as dollar weaken reverting to a defensive tone amid concern about protectionism in the US after President Trump’s executive order Friday that clamped down on immigration and after earlier threats of border tariffs. 

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Rupee opens flat against US dollar at 68.06 in the market

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.

 

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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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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 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 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 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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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 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 15 paise to 68.07 against dollar

Today Rupee climbs 15 paise to 68.07 against dollar

The rupee climbed nearly 15 paise to 68.07 against dollar in early trade on Tuesday on account of selling of American currency by banks and exporters. Overall market sentiments are looking cautious ahead of the Reserve Bank of India's monetary policy review on Wednesday.

Meanwhile, domestic equity markets opened in the green following mixed global cues. The BSE Sensex opened 54.26 points, or 0.21 per cent, up at 26,403.36, while NSE Nifty opened 24.40 points, or 0.30 per cent, up at 8,153.15.

Rupee opened nearly 12 paise up at 68.09 against dollar. The local currency on Monday settled almost flat with negative bias at 68.21 against the US dollar.

Foreign portfolio investors stood net sellers in domestic equity markets on Monday as they sold shares worth Rs 125.25 crore with gross sales and gross purchases stood at Rs 2,157.42 crore and Rs 1,624.96 crore, respectively.

In the currency futures market, the most traded dollar-rupee December contract on the NSE ended at 68.34 on Monday. The December contract open interest fell 1.48 per cent from the previous day.

ICICI Securities in a research note said, "We expect the US dollar to gain support at lower levels. Utilise downsides in the dollar to go long on the US$INR pair."

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Today Rupee advances 7 paise to 68.15 against dollar in early trade

Today Rupee advances 7 paise to 68.15 against dollar in early trade

The rupee started nearly 7 paise higher against the US dollar at 68.15 on Monday amid selling of the American currency by banks and exporters.

The domestic equity market opened on a flat note, following mixed global cues.

The local currency was trading 6 paise up at 68.15, while equity benchmark Sensex was down 22.44 points, or 0.09 per cent, at 26,208. The Nifty50 index was trading 5.95 points, or 0.07 per cent, down at 8,080.

On Friday, the rupee added to its gains against the dollar, gaining over 10 paise to end at 68.22 on rising expectations that the Reserve Bank of India (RBI) will lower policy rates at its policy review on Wednesday.

The Monetary Policy Committee headed by RBI Governor Urjit Patel had slashed repo rate by 25 basis points to 6.25 per cent in October.

The rupee has weakened more than 3 per cent in recent weeks to hit record lows, pressured by a rally in the US dollar, capital outflows from emerging markets and worries that Prime Minister Narendra Modi's demonetisation move would severely dent growth.

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Rupee opens nearly 10 paise down at 68.48 against dollar

Rupee opens nearly 10 paise down at 68.48 against dollar

 

The Rupee opened nearly 10 paise down at 68.48 against the US dollar on Thursday on account of fresh buying of the American currency by banks and exporters.
 

Market sentiment got affected after the GDP growth print for the September quarter came in at 7.3 per cent, which was lower than 7.6 per cent recorded in the same quarter last year. At 9.27 am, the local currency was trading 4 paise down at 68.43 against dollar.
 

Domestic equity market opened in the green following firm global cues. The BSE Sensex was trading 58 points, or 0.22 per cent, higher at 26,711 in the first hour of trade, while NSE Nifty was up 20 points, or 0.24 per cent, at 8,244.
 

Market experts believe there are 90 per cent chances that the US Federal Reserve will increase interest rates in its upcoming policy meet. The rate hike by the Federal Reserve will lead to further outflow of foreign funds from emerging markets like India.
 

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Today Rupee opens lower at 66.93 per dollar At Market

Today Rupee opens lower at 66.93 per dollar At Market

 

The Indian rupee opened lower by 8 paise at 66.93 per dollar on Tuesday versus previous close 66.85.

The US dollar hovered near a roughly nine-month high against a basket of major currencies and touched a one-week high against the yen on growing expectations of a Federal Reserve interest rate increase in December.

The dollar index touched 9-month high of 98.85, with dollar continuing to rise against basket of major currencies on expectations of Fed hiking rates in December, with probability of December hike rising to almost 80 percent. 

 

The USD-INR pair continues to trade weak close to 67/USD levels. We expect the pair to trade weak on the back of strong dollar and also the FCNR redemption.

 

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Today Rupee opens lower at 66.68 per dollar in Currency Market

Today Rupee opens lower at 66.68 per dollar in Currency Market

 

The Indian rupee has opened lower at 66.68 a dollar compared with previous day's closing of 66.67 per dollar.

US DOLLAR INDEX (USD)

The US Dollar Index traded higher by mere 0.04 percent in yesterday’s trading session after the Fed’s latest Beige Book showed a positive outlook for the US economy. According to the beige book, the US economy has maintained a steady growth pace along with modest employment a nd wage growth. This along with the robust release of building permits and inflation data from the nation infused optimism in the market. Cost of living rose by 0.3 percent from 0.2 percent in Sep’16 on account of surge in energy and shelter prices. It is a clear sign that inflation is getting closer to the Federal Reserve’s 2 percent goal. Moreover, from the latest US Presidential debate investors are seeing the Democrat leader i.e. Hilary Clinton as the potential candidate for the Presidential choice. Al l the factors above boosted the demand for the DX which made an intraday high of 97.98 and closed at 97.94 levels on Wednesday.

OUTLOOK

USDINR is likely to trade positive tracking gains in Asian market equities as markets see the Democrat leader i.e. Hilary Clinton as the potential candidate for the Presidential choice in the latest US Presidential debate.

 

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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.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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Rupee steady at 66.74 vs USD in late Morning Deals

Rupee steady at 66.74 vs USD in late Morning Deals

 

 The Rupee pared its initial losses to rule stable at 66.74 against the American currency in late morning deals on bouts of dollar selling by banks and exporters amid bearish dollar overseas as well as higher domestic equities.

The rupee opened lower at 66.79 per dollar from last yesterday's closing level of 66.74 at the Inter-bank Foreign Exchange (Forex) market.

The domestic unit hovered in a range of 66.80 and 66.7350 in the morning deals before quoting stable at 66.74 at 1030 hrs. Meanwhile, the dollar index was trading down 0.08 percent at 95.70 against a basket of six currencies in early trade.

Overseas, the US dollar hovered near three-week lows against its major rivals in early Asian trade after soft US economic data undermined the case for an early Federal Reserve rate hike while the Australian dollar braced for the probability of a policy easing later in the day.

Meanwhile, the benchmark BSE Sensex was trading higher by 109.90 points or 0.39 percent to 28,113.02 at 1045 hrs.

 

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Axis Bank falls after missing Q1 profit estimates

Axis Bank falls after missing Q1 profit estimates

 

Shares of Axis BankBSE -1.48 %, India's third largest private sector lender, fell over 2 per cent in the early trade on Monday after it reported a 21 per cent drop in net profit at Rs 1,555.50 crore for the June quarter on account of a rise in bad loans.

The bank had earned a net profit of Rs 1,978.44 crore in the April-June quarter of last financial year. Gross NPA in absolute terms rose to Rs 9,553 crore this June quarter compared with Rs 4,251 crore at the end of June, 2015.

Total income of the bank improved to Rs 13,852.1 crore from Rs 12,234.41 crore in the same period last year.

At 9:34 am, shares of the bank were trading at Rs 526.20 apiece, down 2.11 per cent from its previous close on the Bombay Stock Exchange (BSE). 

 

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Today Rupee opens Marginally higher at 67 per dollar

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. 

 

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