Morning Tidings

Tag: Rupee vs Dollar

  • The rupee slipped for the 5th straight session, down 15 paise to 74.73 USD.

    The rupee slipped for the 5th straight session, down 15 paise to 74.73 USD.

    The rupee fell for a fifth straight session on Friday and was down 15 paise to 74 paise (provisional) against the US dollar due to rising cases of COVID-19, weak domestic equity and strengthening of the US currency based on investor sentiment. came.

    In the interbank foreign exchange market, the local unit opened against the greenback at 74.75 and traded in the range of 74.53 to 74.96 through the day.

    Finally, the rupee closed at 74.73 against the US currency, registering a fall of 15 paise over the previous close. The rupee had closed at 74.58 against the US currency on Thursday.

    This is the fifth straight loss session for the domestic unit, during which it has seen a fall of 161 paise.

    Jatin Trivedi, senior research analyst at LKP Securities, said, “The rupee business nevertheless remains weak, as the weak trend behind government spending on treatment of increasing numbers of vaccines and COVID-19 continues.”

    Trivedi further stated that “74.75 has now been maintained as a resistance to the rupee. Going beyond 74.75 – the 75.25 range can be seen with a weak trend for the rupee”.

    India on Friday recorded a one-day record increase in 1,31,968 new COVID-19 cases, bringing its infection count to 1,30,60,542, while the death rate rose to 1,67,642 with 780 more deaths a day. Because, October 18, data from the Union Ministry of Health showed.

    Meanwhile, the Dollar Index, which estimates the strength of the greenback against a basket of six currencies, advanced 0.25% to 92.29.

    Brent crude futures, the global oil benchmark, was trading 0.30% lower at $ 63.01 a barrel.

    On the domestic equity market front, the BSE Sensex lost 154.89 points, or 0.31%, to 49,591.32, while the broader NSE Nifty lost 38.95 points, or 0.26%, to close at 14,834.85.

    Foreign institutional investors were net buyers in the capital market on Thursday and bought shares worth ₹ 110.85 crore, according to exchange data.

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  • The rupee rose 10 paise to 73.20 against the US dollar in early trade.

    The rupee rose 10 paise to 73.20 against the US dollar in early trade.

    The rupee opened 10 paise higher at $ 73.20 against the US dollar on Tuesday in support of positive domestic equities and strong Asian currencies.

    In the interbank forex market, the local unit opened at 73.22 against the US dollar, then at a high of 73.20 against the greenback, a 10 paise increase from its previous close.

    The rupee had closed at 73.30 against the US currency on Monday.

    Reliance Securities said in a research note, “However, appreciation bias may overshadow concerns between COVID-19 cases and subsequent lockdown increases in some states.”

    The note added that Asian currencies were strong on Tuesday morning.

    On the domestic stock market front, the 30-share BSE benchmark Sensex gained 270.03 points to trade at 49,429.35 and the broader NSE Nifty was up 85.45 points at 14,723.25.

    Meanwhile, the Dollar Index, which estimates the strength of the greenback against a basket of six currencies, rose 0.05% to 92.64.

    Brent crude futures, the global oil benchmark, rose 0.76% to $ 62.62 a barrel.

    Foreign institutional investors were net sellers in the capital market on Monday, as they closed shares worth 6 931.66 crore, according to exchange data.

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  • The rupee fell 12 paise to close at 73.42 (provisional) against the US dollar.

    The rupee fell 12 paise to close at 73.42 (provisional) against the US dollar.

    Given the initial loss of the rupee, an increase in COVID-19 cases against the US currency by 12 paise at 73.42 (provisional) on Tuesday and subsequent lockout in some states could hurt the economic recovery.

    In the interbank foreign exchange market, the local unit opened against the greenback at 73.22 and traded in the range of 73.20 to 73.42 through the day.

    Finally, the rupee closed at 73.42 against the US currency, registering a decline of 12 paise against the previous close of 73.30.

    According to data released by the Union Health Ministry on Tuesday, the daily growth of new coronovirus infections in India was above 90,000 for the third consecutive day, as against 1,26,86,049 cases of COVID-19 nationwide.

    Forex traders said rising investor sentiment was also affected by rising crude oil prices and the strengthening of the US currency in the foreign market.

    Meanwhile, the Dollar Index, which estimates the strength of the greenback against a basket of six currencies, rose 0.13% to 92.71.

    Brent crude futures, the global oil benchmark, were trading up 2.37% at $ 63.62 a barrel.

    On the domestic equity market front, the BSE Sensex rose 42.07 points, or 0.09%, to close at 49,201.39, while the broader NSE Nifty rose 45.70 points, or 0.31%, to 14,683.50.

    Foreign institutional investors were net sellers in the capital market on Monday, as they closed shares worth 6 931.66 crore, according to exchange data.

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  • The rupee rose 10 paise to 73.20 against the US dollar in early trade.

    The rupee opened 24 paise down at 73.66 against the US dollar in early trade.

    The central bank kept its key policy repo rate unchanged at 4 percent, but warned that the recent increase in COVID-19 transitions has led to uncertainty in economic growth rates

    The Indian rupee slipped 24 paise to close at 73.66 against the US dollar on Wednesday after the Reserve Bank of India maintained the status quo at policy rates for the fifth consecutive time.

    The central bank kept its key policy repo rate unchanged at 4 percent, but cautioned that the recent increase in COVID-19 infections has led to uncertainty over the economic growth recovery.

    In the interbank foreign exchange market, the domestic unit opened at 73.52 against the US dollar, then fell further to 73.66, a decline of 24 paise from the previous close.

    The rupee had closed at 73.42 against the US currency on Tuesday.

    The Reserve Bank of India on Wednesday left interest rates unchanged and maintained an aggressive stance as the economy is under renewed threat to growth due to the resurgence of coronovirus cases.

    There has been a record daily increase in the number of new coronovirus cases in India, causing epidemic outbreaks within 24 hours with more than 1.15 lakh new infections, bringing the nationwide COVID-19 tally to 1,28,01,785. Is, the data of the Union Ministry of Health was updated on Wednesday.

    Meanwhile, the Dollar Index, which estimates the strength of the greenback against a basket of six currencies, fell 0.01 percent to 92.32.

    In the domestic equity market, the 30-share BSE benchmark Sensex rose 305.84 points to trade at 49,507.23, and the broader NSE Nifty rose 85.95 points to 14,769.45.

    According to exchange data, foreign institutional investors were net sellers in the capital market as they held shares worth Rs 1,092.75 crore on Tuesday.

    Global oil benchmark Brent crude futures rose 0.46 percent to $ 63.03 a barrel.

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  • The rupee fell 20 paise to 73.58 against the US dollar in early trade.

    The rupee fell 20 paise to 73.58 against the US dollar in early trade.

    On March 30, the rupee closed at 73.38 against the US dollar.

    The Indian rupee depreciated 20 paise to 73.58 against the US dollar in early trade on 31 March, down from the strength of the greenback and weak domestic equity.

    In the interbank foreign exchange market, the domestic unit opened at 73.56 against the US dollar, then fell to 73.58, a decline of 20 paise over the previous close.

    The rupee had closed at 73.38 against the US currency on 30 March.

    Traders said Asian currencies were weak on Wednesday morning.

    Meanwhile, the Dollar Index, which estimates the strength of the greenback against a basket of six currencies, advanced 0.13% to 93.41.

    Reliance Securities said in a research note, “In Asian markets, the US dollar was higher against the basket of currencies on Wednesday morning. Investors bet that massive fiscal stimulus and aggressive vaccination will help the US recover globally.” “

    On the data front, the government is likely to announce a lending plan for April-September, in addition, the government is about to release the fiscal deficit data for April-February. RBI is also likely to release the October-December current account data, the note added.

    In the domestic equity market, the 30-share BSE benchmark Sensex was down 422.74 points at 49,713.84, and the broader NSE Nifty fell 96.85 points to close at 14,748.25.

    Foreign institutional investors were net buyers in the capital market as they bought shares worth ₹ 769.47 crore as per exchange data on Tuesday.

    Global oil benchmark Brent crude futures rose 0.48% to $ 64.45 a barrel.

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  • The rupee opened 14 paise at 72.48 against the US dollar in early trade.

    The rupee opened 14 paise at 72.48 against the US dollar in early trade.

    Most Asian currencies were weak and would get sentimental on Friday morning, Reliance Securities said in a research note that dollar sales could reduce depreciation bias.

    The rupee opened 14 paise at 72.48 against the US dollar on Friday, supported by positive domestic equities.

    In the interbank foreign exchange market, the local unit opened at 72.51 against the US dollar, then at a high of 72.48 against the greenback, a 14 paise increase from its previous close.

    The rupee had closed at 72.62 against the US currency on Thursday.

    On the domestic equity market front, the 30-share BSE benchmark Sensex was trading up 469.68 points at 48,909.80, and the broader NSE Nifty rose 151.95 points to 14,476.85 points.

    Meanwhile, the Dollar Index, which estimates the strength of the greenback against a basket of six currencies, fell 0.07% to 92.78.

    Most Asian currencies were weak and would get sentimental on Friday morning, Reliance Securities said in a research note that dollar sales could reduce depreciation bias.

    Meanwhile, the International Monetary Fund has said that India’s economy is on a path of gradual recovery.

    “India’s economy is on a path of gradual recovery, real GDP growth, returning to positive territory in the fourth quarter of 2020. And this is the first time since the onset of the epidemic and it is supported by the pick in gross, stable capital formation. , IMF spokesman Gerry Rice told reporters at a press conference in Washington on Thursday.

    Brent crude futures, the global oil benchmark, rose 0.79% to $ 62.44 a barrel.

    Foreign institutional investors were net sellers in the capital market on Thursday, as they had shares worth ₹ 3,383.60 crore, according to exchange data.

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  • The rupee fell 7 paise to close at 72.62 against the USD.

    The rupee fell 7 paise to close at 72.62 against the USD.

    The rupee opened at 72.68 per dollar in the interbank forex market.

    The Indian rupee fell 7 paise to 72.62 (provisional) against the US dollar on Thursday amid growing concerns over coronovirus cases in India and some other parts of the world.

    In the interbank forex market, the rupee opened at $ 72.68 per dollar, but closed some of its losses during the session at 72.62, still 7 paise lower.

    Meanwhile, the Dollar Index, which estimates the strength of the greenback against a basket of six currencies, rose 0.14% to 92.66.

    Global oil benchmark Brent crude futures fell 1.40% to US $ 63.32 a barrel.

    Analysts expect the market to remain volatile for some time due to uncertainty due to the second wave of COVID-19 in India and the third wave in parts of Europe.

    On the domestic equity market front, the BSE Sensex lost 740 points or 1.51% to close at 48,440.12, while the broader NSE Nifty rose 224.50 points or 1.54% to close at 14,324.90.

    Foreign institutional investors were net sellers in the capital market on Wednesday as they sold shares worth Rs 1,951.90 crore as per exchange data.

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  • The rupee fell 7 paise to close at 72.62 against the USD.

    The rupee weakened 7 paise to close at 72.62 against the USD.

    The Indian rupee rose 7 paise to 72.62 against the US dollar in early trade on Thursday amid growing concerns over growing coronovirus cases in India and some other parts of the world.

    In the interbank forex market, the rupee opened significantly lower at $ 72.68 per dollar, but reopened some of its losses as the morning trade progressed.

    Meanwhile, the Dollar Index, which estimates the strength of the greenback against a basket of six currencies, rose 0.03% to 92.55.

    Brent crude futures, the global oil benchmark, fell 1.04% to $ 63.55 a barrel.

    Analysts believe that market volatility will remain for some time due to uncertainty due to the second wave of COVID-19 attack in India and the third wave in parts of Europe.

    On the domestic equity market front, the BSE Sensex slipped nearly 500 points, or more than 1%, while the broader NSE Nifty slipped 135 points or 0.93%.

    Foreign institutional investors were net sellers in the capital market on Wednesday as they sold shares worth ₹ 1,951.90 crore as per exchange data.

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  • The rupee strengthened 6 paise against the US dollar in early trade

    The rupee strengthened 6 paise against the US dollar in early trade

    Forex traders said the opening in domestic equities and the rupee strengthened against the dollar.

    The rupee rose 6 paise to 72.46 against the US dollar in early trade on Monday and supported the fall in foreign exchange inflows and crude oil prices.

    Forex traders said, however, that the opening in domestic equities and the strong dollar’s foreign currency weighed in the rupee.

    In the interbank foreign exchange market, the local unit strengthened against the US dollar at 72.47 and gained further basis for bidding at 72.46, an increase of 6 paise from its previous close.

    In the previous session, the rupee had closed at 72.52 against the US currency.

    Foreign portfolio investors (FPIs) have bought close to $ 2.5 billion of Indian equity so far this month. FPI purchased a net share of $ 179.40 million as of March 18, 2021. For the month of March, FPI was a net buyer of a total of $ 2.454 billion, Reliance Securities has said in a note.

    The dollar rose higher after the Turkish lira was reduced to 15% after Turkish President Erdogan replaced the hawkish central bank governor as a critic of high-interest rates. Worryingly, events in Turkey could cause disruption to other financial markets, they also supported the dollar.

    Meanwhile, Asian currencies were weak on Monday morning and would become sentimental.

    On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 124.35 points down at 49,733.89, and the broader NSE Nifty closed 11.80 points down at 14,732.20 in early deals.

    Meanwhile, the Dollar Index, which estimates the strength of the greenback against a basket of six currencies, rose 0.08% to 91.99.

    Brent crude, the global oil benchmark, declined 0.39% to $ 64.28 a barrel.

    Foreign institutional investors were net buyers in the capital market on Friday as they bought shares worth ₹ 1,418.43 crore as per exchange data.

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  • The rupee fell 7 paise to close at 72.62 against the USD.

    The rupee almost flat against the US dollar at 72.52.

    It closed on a flat note against the US dollar on Friday amid a strong trend in the domestic equity markets and a stronger dollar in overseas markets.

    In the interbank forex market, the local unit opened at 72.57 against the greenback and saw an intra-day high of 72.46 and a low of 72.58.

    It finally closed at 72.52 against the US currency, registering a gain of just 1 paise over the previous close. The rupee had closed at 72.53 against the US dollar on Thursday.

    On the domestic equity market front, the BSE Sensex rose 641.72 points or 1.30% to 49,858.24, while the broader NSE Nifty rose 186.15 points or 1.28% to 14,744.00.

    The Dollar Index, which estimates the strength of the greenback against a basket of six currencies, advanced 0.08% to 91.94.

    Brent crude futures, the global oil benchmark, rose 1.33% to $ 64.12 a barrel.

    Foreign institutional investors remained net buyers in the capital market on Thursday, according to exchange data, as they bought shares worth ₹ 1,258.47 crore.

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