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Rupee strengthens against US dollar, rises to 5-month high

Tuesday, January 1, 2019, 10:44 PM

Rupee strengthens against US dollar, rises to 5-month high

The Indian rupee strengthened against US dollar, tracking gains in some Asian currencies. The rupee settled at 69.43, up 34 paise from its previous close of 69.77. This was highest close of rupee since early August. The currency opened at 69.72 dollar. The 10-year bond yield stood at 7.42%, higher than its Monday's close of 7.369%. Bond yields and prices move in opposite directions.

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Rupee recovers against dollar as crude oil prices fall further

Thursday, December 20, 2018, 6:47 PM

Rupee recovers against dollar as crude oil prices fall further

The Indian rupee on Thursday rebounded from its morning lows and gained for a fourth session against the US dollar after crude oil prices fell over 2% amid worries about oversupply and the outlook for the global economy. At 1.21pm, the home currency was trading at 70.07 a dollar, up 0.49% from its Wednesday's close of 74.22. Earlier, the rupee opened 0.4% lower.

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Rupee's Santa rally may extend into 2019 as crude collapses

Thursday, December 20, 2018, 9:20 AM

Rupee's Santa rally may extend into 2019 as crude collapses

Tumbling oil prices have delivered an early Christmas present to India's currency market, with the rally that's put the rupee on course for its best quarter since March 2017 seen extending into the new year. That's the message from strategists coming off a largely painful 2018, as elevated energy costs and a strong dollar combined to make the rupee Asia's worst performer.

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Rupee, bond prices gain after oil hits one-year low

Tuesday, December 18, 2018, 7:48 PM

Rupee, bond prices gain after oil hits one-year low

The Indian rupee and bond prices gained after crude oil prices fell to a-14-month low, easing worries of fiscal slippage and higher inflation. The rupee hit a-two-week high and gained 1.57%, its biggest single-day gain in five-years, while 10-year bond prices touched a-fresh eight-month high. India's trade deficit narrowed to $16.7 billion in November from $17.1 billion a-month-ago mainly due to a-sharp-fall in crude-oil-prices.

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Rupee plunges 50 paise to 71.32 against US dollar

Tuesday, December 11, 2018, 9:23 AM

Rupee plunges 50 paise to 71.32 against US dollar

The Indian rupee tumbled 50 paise to close at 71.32 against US dollar as nagging worries on global trade war front and uncertain crude prices hurt forex market sentiment.Besides, the trading pattern in the forex market was impacted by massive sell-offs in domestic equities as investors panicked over exit polls suggesting the Congress giving a tough fight to the ruling BJP in state elections.

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Rupee back below 70 to a dollar

Thursday, November 29, 2018, 7:53 PM

Rupee back below 70 to a dollar

The rupee strengthened to close below 70 to the dollar, at an over three-month high, tracking gains in Asian currencies after comments by Federal Reserve Chairman Jerome Powell were seen as a signal policy makers may pause their interest rate tightening cycle next year. The currency opened at 70.17 a dollar, and touched a high of 69.78.

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Rupee rises 8 paise to close 70.79 against US dollar on easing trade worries

Tuesday, November 27, 2018, 8:48 PM

Rupee rises 8 paise to close 70.79 against US dollar on easing trade worries

The rupee recovered by 8 paise to close at 70.79 against the US dollar on November 27 due to increased selling of the greenback by exporters and softening crude oil prices. Forex traders said the rupee's rise was supported by dollar-selling by exporters and banks after the Chinese foreign ministry announced a mutually beneficiary agreement with the US.

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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.

News

 
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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