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Rupee breaks 7-day winning run, down 18 paise at 70.87 a US dollar

Monday, November 26, 2018, 9:16 PM

Rupee breaks 7-day winning run, down 18 paise at 70.87 a US dollar

Snapping its seven-day rising streak, the rupee on November 26 fell by 18 paise to close at 70.87 against the US dollar amid softening crude oil prices. At the Interbank Foreign Exchange (forex), the rupee opened on a firm note at 70.48 against the US dollar. It gained further ground to hit a high of 70.30, following dollar selling by exporters.

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Yellen says Fed more to blame for wider trade deficit than China

Tuesday, November 13, 2018, 7:45 PM

Yellen says Fed more to blame for wider trade deficit than China

Federal Reserve interest-rate hikes in response to fiscal stimulus are causing the U.S. trade deficit to widen, not unfair Chinese trade practices, former Fed Chair Janet Yellen said. Higher interest-rates in U.S. relative to those elsewhere put upward pressure on U.S. dollar exchange rate, and "this is part of why we may get a larger trade deficit," Yellen said at a conference in Beijing.

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Gold price increase to dampen Indian festive purchases - WGC

Thursday, November 1, 2018, 4:19 PM

Gold price increase to dampen Indian festive purchases - WGC

Indian gold demand in 2018 is expected to fall from the previous year as a rally in local prices to five-year highs is likely to dent purchases during key festivals in the December quarter, the World Gold Council (WGC) said. A fall in demand from the world's second-biggest bullion buyer could weigh on global prices that are already down 6.5% so far this year.

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Rupee gains marginally against US dollar

Thursday, November 1, 2018, 2:37 PM

Rupee gains marginally against US dollar

The Indian rupee strengthened marginally against the US dollar on Thursday as local equities and Asian currencies gained after crude oil prices eased on lingering supply concerns and a stronger dollar. At 9.10am, the rupee was trading at 73.85 a dollar, up 0.12% from its Wednesday's close of 73.96.The 10-year gilt yield stood at 7.828% from its previous close of 7.853%.

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Rupee drops below 74 a dollar amid growing RBI-government rift

Wednesday, October 31, 2018, 3:09 PM

Rupee drops below 74 a dollar amid growing RBI-government rift

The Indian rupee slid on speculation that rift between the government and RBI is widening. The currency fell as much as 0.5% to 74.0575/dollar, that the government invoked a-rarely-used power to direct central-bank on matters of public interest. An official from Finance Ministry, who declined to be named in line with department rules, said Section-7 power in the RBI Act hadn't been invoked.

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Rupee edges lower against US dollar

Tuesday, October 30, 2018, 3:43 PM

Rupee edges lower against US dollar

The Indian rupee on Tuesday weakened marginally against the US dollar, tracking mixed Asian currencies. At 9.10am, the rupee was trading at 73.56 a dollar, down 0.15% from its Monday's close of 73.45. The currency opened at 73.49 a dollar. The 10-year gilt yield stood at 7.826% from its previous close of 7.81%. Bond yields and prices move in opposite directions.

News

 
Rupee opens lower against US dollar today

Monday, October 22, 2018, 10:18 AM

Rupee opens lower against US dollar today

Indian rupee on Monday opened marginally lower against US dollar tracking losses in its Asian peers. At 9.15am, the home currency was trading at 73.36 a dollar, down 0.05% from its Friday's close of 73.33. The currency opened at 73.41 a dollar. The 10-year gilt yield stood at 7.93% from its previous close of 7.922%. Bond yields and prices move in opposite directions.

News

 
Rupee rises to two-week high against dollar

Wednesday, October 17, 2018, 9:38 PM

Rupee rises to two-week high against dollar

The Indian rupee rose to a two-week high of 73.42 against US dollar in early trade on Wednesday. The local currency has declined over 13% so far this year, making it Asia's worst-performing currency. Notably, foreign investors have sold $4.36 billion and $8.42 billion in the domestic equity and debt markets, respectively, this year.

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Orderly depreciation of rupee would increase competitiveness

Thursday, October 11, 2018, 8:43 PM

Orderly depreciation of rupee would increase competitiveness

An orderly depreciation of the rupee would increase competitiveness and relieve some pressures in the capital market, said Martin Rama, the Chief Economist for the South Asia region of the World Bank. His remarks came as the rupee hit an all-time low of 74.45 against the USD today. He also described the depreciation as a "positive development" provided it's done in the right way.

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Sensex crashes 1,000 points; investors lose in 5 minutes

Thursday, October 11, 2018, 10:58 AM

Sensex crashes 1,000 points; investors lose in 5 minutes

Stock market investors lost as much as Rs 4 trillion (lakh crore) as Sensex plunged 1,037 points to 33,723.53 when trading opened on Thursday. Nifty also slumped 321 points to 10,138.60. Asian markets suffered after the worst sell-off in US markets since February. The stock market crash was accompanied with Rupee reaching a fresh low of 74.45 against the US dollar.

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