Forex News
Rupee ends higher but posts third consecutive monthly loss
Pakistan rupee set to become top performing currency globally- Rupee ends slightly higher as likely RBI help counters oil, US yield pressure
- Rupee trades flat against US dollar amid gains in equities
- Dollar sticks near 10-month high, keeping heat on yen
- Dollar index powers to 10-month high; yen, euro languish
- India rupee ends flat, ducks global pressures on likely cenbank help
- Rupee flat as likely RBI's dollar sales stave off move towards record low
- Dollar rides Treasury yields higher, yen battered
Dollar at 10-month top as US yields spike; yen slides
Rates markets are priced for an almost 40% risk of another Fed hike this year, against slimmer chances for another rise in Europe, and the difference has helped prop up a dollar many had bet would swiftly fall once short-term rates peaked.
Yen falls to fresh 11-month low against dollar, focus on intervention risks
The yen fell 0.17% to 148.66 per dollar, touching its lowest since late October and adding to Friday's declines after the BOJ maintained ultra-low interest rates, while Governor Kazuo Ueda stressed the need to spend more time assessing data before raising interest rates.
Rupee ends weaker but fresh record low not in sight
Global pressures all point to depreciation but "83.30 is likely to stay protected," said Sajal Gupta, head of forex and commodities at Nuvama Wealth Management's institutional desk.
Rupee gives up index inclusion-led rally; RBI counted on to help
Month-end dollar demand from importers, including oil companies, will keep the rupee under pressure, a foreign exchange trader at a state-run bank said.
Sliding yen stokes intervention threat; dollar reigns
In the broader currency market, the dollar was on the front foot, extending its gains from last week after a still-hawkish Federal Reserve surprised markets by signalling U.S. rates would need to stay higher for longer than initially expected.
Dollar eases after US data; yen slumps as BOJ keeps policy ultra-loose
The U.S. economy so far this year has defied projections for sliding into a recession that most economists had expected would be triggered by the Federal Reserve's aggressive interest rate increases aimed at quelling inflation.
Rupee set to rally on India's inclusion in JPMorgan bond index
The index inclusion could result in inflows of about $24 billion into eligible government bonds from the start of next year to May 2025, IDFC First Bank said in a note.
Yen under pressure as US Treasury yields push over-decade peaks
The yen was also kept under pressure as a result of elevated U.S. Treasury yields, which scaled multi-year highs in the previous session as markets reeled from a hawkish pause by the Federal Reserve on Wednesday.
Rupee ends little changed as RBI intervention fear limits fall
Asian currencies were mostly weaker, with the Korean won leading losses as dollar strength weighed on emerging market currencies.
Yen worries increase as dollar strengthens after Fed
The Fed's benchmark overnight interest rate may still be lifted one more time this year to a peak 5.50%-5.75% range, according to updated quarterly projections released by the U.S. central bank, and rates kept significantly tighter through 2024 than previously expected.
Rupee gains on RBI intervention, easing oil prices
The rupee fell to an intraday low of 83.2650 early in the session but likely dollar sales from the RBI in the non-deliverable forward and over the counter markets prevented a further decline, traders said.
Sterling hovers at three-month low ahead of Bank of England meet
However, expectations for the BoE have softened in the past few weeks. Back in June, money markets showed traders believed UK rates could hit 6% by the middle of 2024, as the central bank was forced to keep tightening monetary policy to tackle inflation.
Rupee rises 6 paise against US dollar in early trade
At the interbank foreign exchange, the domestic unit opened at 83.22 against the dollar and then slipped to 83.26, registering a gain of 6 paise over its previous close.
RBI likely sold dollars to avoid a record low on rupee: Traders
The RBI (Reserve Bank of India) needed to make its presence felt just before open, or we would have seen a big move on the upside (on USD/INR)," a trader said.
Dollar firm but softens against yen ahead of FOMC
Speculation increased about a possible sooner-than-expected exit from the Bank of Japan's ultra-loose policy, but the central bank will most likely keep interest rates ultra-low on Friday and reassure markets that monetary stimulus will stay for the time being amid economic uncertainty.
Rupee falls to record closing low as oil prices rise
The rupee closed at 83.2675 against the U.S. dollar, compared with 83.1850 in the previous session. The local unit weakened beyond its previous record closing of 83.2175 hit earlier this month
Risk of sizeable decline on Indian rupee on the rise, analysts say
"Depreciation pressures on INR is expected to be higher in the near term with crude oil prices above $90 and dollar strength," Gaura Sen Gupta, economist at IDFC First Bank wrote in a note.
Rupee trades in narrow range against US dollar in early trade
Foreign Institutional Investors (FIIs) were net buyers in the capital market on Friday as they purchased shares worth Rs 164.42 crore, according to exchange data.
Japan's yen in spotlight ahead of 'live' BOJ meeting
The Bank of Japan's policy meeting on Friday is the highlight of the week in Asia, after Governor Kazuo Ueda stoked speculation of an imminent move away from ultra-loose policy. In a week packed with central bank meetings, decisions are also due from the U.S. Federal Reserve on Wednesday and Bank of England on Thursday.
Rupee falls 12 paise to close at 83.15 against US dollar
At the interbank foreign exchange market, the local unit opened at 83.02 against the US dollar and moved in a range of 82.98 and 83.20.
Rupee trades in narrow range against US dollar
According to Gaurang Somaiya, forex and bullion analyst at Motilal Oswal Financial Services, the focus will be on consumer sentiment and Empire State manufacturing index number from the US.
Dollar firm as markets eye China data
Market focus now turns to a dump of economic data out from China in the Asian morning, including retail sales and investment growth, keeping traders on edge for further signs of slowing in the world's second largest economy.
Rupee ends marginally down as traders await fresh triggers
The rupee's depreciation is capped at 83.30 currently, while its strength seems to be limited at 82.85/90, said Arnob Biswas, head of foreign exchange research at Kotak Securities.
Rupee upside seen capped on importer hedging, oil prices
Brent crude futures climbed to a year-to-date high of $92.84 per barrel on Wednesday and last quoted at $92.38 in Asia hours. Oil output cuts which Saudi Arabia and Russia have extended to the end of 2023 will mean a substantial market deficit through the fourth quarter, the International Energy Agency (IEA) said.
Dollar hovers above 3-month low to euro as ECB decision looms
The yen pulled away from near a 10-month trough to the dollar as a decline in long-term Treasury yields removed some support for the U.S. currency.
Rupee falls 2 paise to close at 82.97 against US dollar
Retail inflation declined to 6.83 per cent in August after touching a 15-month high of 7.44 per cent in July, mainly due to softening prices of vegetables, but still remains above the Reserve Bank's comfort zone.
Rupee trades in narrow range against US dollar
At the interbank foreign exchange, the rupee was trading in a narrow range. It opened at 82.92 against the dollar. It touched a low of 82.95 against the American currency in initial trade.
Dollar steady ahead of key US inflation data, yen retraces gains
As investors have more time to consider Ueda's comments, "the fundamental driver of the upside pressures on yen" have returned, said Alvin Tan, head of Asia FX strategy at RBC Capital Markets.
Rupee rises but near-term gains will be capped: Traders
The dollar index inched up 0.2% in Asia hours to 104.76 while Brent crude oil futures climbed to $90.87 per barrel, hovering near their highest levels since November 2022.
Rupee rises 10 paise to 82.93 against US dollar
In the domestic equity market, the 30-share BSE Sensex was trading 310.36 points or 0.46 per cent higher at 67,437.44. The broader NSE Nifty advanced 80.40 points or 0.4 per cent to 20,076.75.
Yen stands tall, dollar finds floor ahead of US inflation
Bank of Japan (BOJ) Governor Kazuo Ueda told a newspaper interview over the weekend the bank could get enough data by year-end to determine whether it can end negative rates, remarks that on Monday saw the yen clock its largest daily gain against the dollar in two months.
Rupee rises 9 paise to 82.93 against US dollar
Today, volatility for major crosses including the rupee could remain low as no major economic data is expected to release. We expect the USDINR (Spot) to trade sideways with a positive bias and quote in the range of 82.80 and 83.40," Somaiya added.
Yen jumps on Ueda's remarks; dollar tentative ahead of US inflation print
The Japanese currency rose nearly 0.8% at one point to touch a session-high of 146.66 per dollar in early Asia trade, boosted by weekend comments from Ueda that the central bank could end its negative interest rate policy when achievement of its 2% inflation target is in sight.
Rupee ends stronger on likely cenbank help but posts consecutive weekly decline
The rupee closed at 82.9450 against the U.S. dollar compared with 83.21 in the previous session. Despite the strength on Friday, the rupee posted a weekly decline of 0.27%.
Dollar dips after recent gains; U.S. stocks advance with Apple
The dollar index's weekly winning streak would be its longest since 2014, bolstered by recent reports showing the U.S. economy remains resilient.
Rupee rises 10 paise to 83.13 against US dollar
The dollar index, which gauges the greenback's strength against a basket of six currencies, fell marginally by 0.15 per cent to 104.89. Brent crude futures, the global oil benchmark, fell 0.61 per cent to USD 89.37 per barrel.
