Indian rupee down 2 paise against US dollar, at 60.12

 
The Indian rupee destabilized by two paise to 60.12 adjacent to the US dollar in in the early hours deal at the Interbank Foreign Exchange on augmented insists for the American coinage from importers.
Dealers said dollar's power alongside other currencies abroad also weighed on the rupee but a superior breach in the familial equity souk capped wounded.
The BSE Sensex was up 55.08 points, or 0.21 per cent, at 26,181.83 in premature deal on Monday.
The rupee had on Friday edged up by two paise to end at 60.10 beside the American money on dollar advertising by exporters.

Indian rupee down 2 paise against US dollar, at 60.14

The Indian rupee fell slightly by two paise to 60.14 alongside the dollar in premature deal on augmented require for the US money from banks and importers.
The exchange had wrecked flat at 60.12 alongside the Greenback in Wednesday's deal on exchange bouts of demand and bring.
Dealers said amplified command for dollar from importers chiefly put strain on the local unit but a superior opening in the familial fairness market and gains in other currencies abroad near the dollar capped the losses.
The BSE Sensex rose 60.75 points, or 0.23 per cent, to 25,610.47 in premature operate on Thursday.

Indian rupee behind 12 paise vs US dough in untimely operate

 

The Indian rupee weakened by 12 paise to 61.91touching the US dollar in early do business at the Interbank Foreign Exchange market due to order for the US currency from importers.

Forex dealers said besides dollar's gains in opposition to other currencies overseas, improved demand from importers for the American currency also put anxiety on the rupee. However, a higher opening of the familial equity market capped the fall, they said.

FLASHBACK 2013: Indian rupee in the midst of the pits performing arts currencies

The rupee had gained 16 paise to seal at over one-week high of 61.79 aligned with the US dollar on Tuesday after exporters sold the American currency as the forex and money markets remained closed on Wednesday for "Christmas".

Temporarily, the BSE Sensex improved by 54.38 points, or 0.25 per cent, to 21,087.09 in near the beginning trade on Thursday.

Rupee falls further on strong dollar demand

 
Continuing its slide for the sixth straight day, the rupee on Wednesday lost 17 paise to trade at a fresh two-month low of 63.88 in early trade on strong dollar demand from importers amid weak local equities.

At the Interbank Foreign Exchange (Forex) market, the local currency opened lower at 63.88 a dollar from its previous close of 63.71.

Forex dealers said besides sustained demand for the US currency from importers and a lower opening in the domestic equity market also put pressure on the rupee but dollar's weakness against euro in the global markets capped the fall.

The rupee had depreciated by 47 paise to close at 63.71 against the dollar in the previous session. Meanwhile, the BSE benchmark Sensex fell by 53.97 points, or 0.27 per cent, to 20,227.94 in early trade on Wednesday.

Indian rupee drops 83 paise against US dollar, breaches 63-mark

 
he Indian rupee dropped by 83 paise to 63.30 against the US dollar after a gap of nearly eight weeks on persistent dollar demand from importers and banks on the back of higher dollar overseas.

The domestic currency resumed lower at 63.00 per dollar as against the last weekend's level of of 62.47 per dollar at the Interbank Foreign Exchange (Forex) Market and dropped further to 63.32 per dollar before quoting at 63.30 per dollar at 10.40 am. It moved in a range of 62.94 per dollar and 63.32 per dollar during the morning deals.

Sustained dollar demand from importers and banks in view of firm dollar overseas mainly affected the rupee value against the dollar, a forex dealer said.

In New York, the American currency jumped last Friday after the US created twice as many jobs in October as Wall Street had expected, sparking yet another round of discussion about when the Federal Reserve could slow its bond buys.

Meanwhile, the BSE Sensex dropped further by 129 points, or 0.62 per cent, to 20,537.37 at 10.50 am.

Rupee at four-week high; climbs 90 paise against dollar

MUMBAI: The rupee on Monday strengthened by 90 paise to trade at four-week high of 62.58 against the dollar at the Interbank Foreign Exchange market on increased capital inflows and dollar selling by exporters.

The rupee had settled at 63.48 against the dollar on Friday, up marginally by two paise over previous day's close.

Traders said apart from selling of the American currency by exporters and banks, a higher opening at the domestic equity market and dollar's weakness against other overseas currencies, after Larry Summers, the man tipped to be named Ben Bernanke's successor as Fed chairman, withdrew from the race, also supported the rupee. 
Meanwhile, the BSE benchmark sensex soared by 293.30 points, or 1.49%, to 20,026.06 in early trade today. 

Rupee climbs 138 paise, Sensex gains over 450 points as Rajan sparks reform hopes Sensex Blue chip shares, especially banks, jumped with NSE bank index surging as much as 9.4 per cent.

MUMBAI: The rupee on Thursday strengthened by hefty 138 paise to trade at 65.69 against the dollar at the Interbank Foreign Exchange market after fresh measures by the RBI to stem the currency's slide.

The rupee had settled at 67.07 against the dollar on Wednesday, up by 56 paise over the previous day's close.

Traders said dollar selling by exporters and banks and fresh measures announced by new RBI governor Raghuram Rajan to curb the rupee's slide helped domestic currency recover.

The dollar's weakness against other currencies overseas also supported the rupee's sentiment, they said.

Meanwhile, stock markets were up by over 2 per cent in early trade.

The BSE benchmark index soared by 488 points to 19,055.74, while National Stock Exchange's Nifty rose by 153 points to 5,601.90 in opening trade.

Banking, realty, capital goods and consumer durables stocks were leading gainers.

The new RBI governor on Wednesday announced measures, such as liberalisation of the financial market by enhancing the limits for exporters to re-book cancelled forward exchange contracts and opening a special concessional window for swapping foreign currency non-resident (FCNR) deposits and dollar funds, to support the rupee.

In the Asian region, Hong Kong's Hang Seng index rose by 0.95 per cent, while Japan's Nikkei was up by 0.61 per cent in early trade.

The US Dow Jones Industrial Average ended 0.65 per cent higher on Wednesday.

Rupee slumps to 67.95 on persistent capital outflows, heavy dollar demand

Mumbai, Sept 4:  

The rupee further slipped 193 paise to 67.95 against the dollar on persistent capital outflows and heavy dollar demand from banks and oil importers at 4.26 p.m. local time.

The domestic unit opened 28 paise weaker to 66.30 per dollar against the previous close of 66.02 due to renewed dollar demand from importers and appreciation of the American dollar overseas.

Meanwhile, the 30-share BSE index Sensex ended down 651.47 points (3.45 per cent) at 18,234.66.

According to forex dealers, besides dollar’s gains against the yen and euro on improved economic data, increased demand from importers for the American currency also put pressure on the rupee.

Brinda Jagirdar, Economist, said: "While the sharp fall in rupee and its aftermath has caused a lot of mayhem on the markets, particularly pressure on corporates and banks, its impact on exports could be positive. However, the recent PMI data coming in at below 50 (at 48.5) has highlighted the contraction in the manufacturing sector. Thus, at a time when external demand appears to be rising on the back of economic recovery - Germany's PMI is the highest since July 2011 - India's PMI is at a four-year low, so the economy is unable to ramp up its manufactured exports and benefit from a weak rupee.''

The rupee sentiment was hit on lower GDP growth data announced last week.

India’s GDP (gross domestic product) growth decelerated to 4.4 per cent — the slowest pace of expansion since the 2008 meltdown — in the first quarter (April-June) of the current fiscal.

Special dollar window

Further, the Reserve Bank of India had announced a special dollar window for oil retailers, which helped ease the offshore non-deliverable forward (NDF) contracts.

“The RBI measures limited the volumes in the currency market by more than half. Hence, the volatility reduced to some extent. Also, the RBI did not intervened for the first time in many days,” said a dealer with a nationalised bank.

The rupee saw sharp movements last week. It had hit a historic low of 68.80 against the US dollar on August 28. It had dropped 3.7 per cent during last week alone.

Rupee depreciation

The Ministry of Finance had said that the rupee depreciation is not reflective of any weakness in the economy. Also the rupee is heavily under-valued at the moment and it is being addressed.

Though a strong dollar and dollar demand from importers limited the rupee gains, investors are hoping for positive measures after the new RBI Governor assumes charge on September 5.

Call rates, G-Secs

The inter-bank call money rate, the rate at which banks borrow money from each other to meet their short-term fund requirements, was trading lower at 10.15 per cent from its previous close of 10.25 per cent.

The 7.16 per cent government security, which matures in 2023, was trading a tad higher at Rs 91.79 from the previous close of Rs 91.47 .Yields softened to 8.41 per cent from 8.47 per cent.