Author: Currencies

India’s Ambassador to the UAE Sunjay Sudhir said that the concept paper for trade in local currencies was shared by India. PTI November 25, 2022 / 04:59 PM IST Representative Image The central banks of India and UAE are discussing a concept paper on promoting bilateral trade in rupee and dirham with a view to […]

Representative image (Source: ShutterStock) TVS Supply Chain Solutions, seeking to raise around Rs 4,000 crore through a share sale, on Friday submitted an addendum to the DRHP that was filed with the markets regulator Sebi in February. TVS Supply Chain, present in over 25 countries and serving over 60 Fortune 500 companies, is among the […]

The uptick in the foreign exchange reserves is a result of the rise in the Foreign Currency Assets (FCA), which is a major component of the overall reserves. India’s foreign exchange reserves rose for the second consecutive week due to easing pressure on the rupee due to a fall in crude oil prices and less […]

ICICI Direct, US dollar extended its losses on anticpation that US Federal Reserve will opt for more moderate pace of rate hikes. November 25, 2022 / 09:04 AM IST ICICI Direct’s currency report on USDINR US dollar extended its losses on anticpation that US Federal Reserve will opt for more moderate pace of rate hikes. […]

The Indian rupee is expected to trade in a range of 79-82 against US dollar in 2023 as the unit may continue to face pressure from external factors, experts said on November 24. “Maybe 80-82 in first quarter of next year, 79 to 81 Q1 of next fiscal, not much difference in the second half,” […]

ICICI Direct, US dollar declined yesterday amid rise in risk appetite in the global markets, disappointing economic data from US and fall in US treasury yields. November 24, 2022 / 10:52 AM IST ICICI Direct’s currency report on USDINR US dollar declined yesterday amid rise in risk appetite in the global markets, disappointing economic data […]

The rupee last traded at 81.8450 per U.S. dollar, compared with Tuesday’s close of 81.6650. The local unit was in a narrow 81.75 to 81.8550 range during the session. Reuters November 23, 2022 / 03:50 PM IST The Indian rupee declined slightly against the U.S. currency on Wednesday amid cash dollar outflows of a large […]

ICICI Direct, US dollar slipped yesterday amid rise in risk appetite in the global markets and decline in US treasury yields. November 23, 2022 / 09:06 AM IST ICICI Direct’s currency report on EURINR US dollar slipped yesterday amid rise in risk appetite in the global markets and decline in US treasury yields. However, hawkish […]

ICICI Direct, The Euro slipped yesterday mainly on the back of a strong dollar and risk aversion in global markets. November 22, 2022 / 09:09 AM IST ICICI Direct’s currency report on EURINR The Euro slipped yesterday mainly on the back of a strong dollar and risk aversion in global markets. Additionally, PPI data from […]

The rupee depreciated by 5 paise to close at 81.79 against the US dollar on Monday, tracking the strength of the American currency in the overseas markets and a muted trend in domestic equities. The greenback rallied in the overseas markets on safe-haven demand as the investor sentiment hit by rising Covid-19 cases and subsequent […]

Vostro accounts are essential for correspondent banking and are usually held by a lender on behalf of their foreign counterpart. State-run Canara Bank and private lender HDFC Bank have received approval from the Reserve Bank of India (RBI) to open a special Vostro account, which will be used for trading in rupees with Russia, a […]

ICICI Direct, The US dollar appreciated by almost 0.30% on Friday amid a rise in US 10 year’s treasury yields and as investors continued to make bets on the US Federal Reserve’s interest rate hiking path. November 21, 2022 / 09:18 AM IST Last date for the submission of bids by the interested parties is […]

Foreign institutional investors (FIIs) bought equities worth Rs 349.2 crore, while domestic institutional investors (DIIs) turned net buyers in this week as they bought equities worth of Rs 2,274.97 crore. Indian market settled marginally lower in the week ended November 21 amid mixed global cues. Geopolitical uncertainty and UK inflation rising to 41-year high weighed […]

Representative image The rupee depreciated by 10 paise to close at 81.74 against the US currency on Friday, marking its third straight day of losses amid a lacklustre trend in domestic equities and firming crude oil prices. However, a weak dollar in the overseas markets restricted the loss, forex traders said. At the interbank foreign […]

ICICI Direct, The pound dropped by more than 0.40% yesterday amid a strong US dollar and gloomy global market sentiments. November 18, 2022 / 09:12 AM IST Representative image ICICI Direct’s currency report on GBPINR The pound dropped by more than 0.40% yesterday amid a strong US dollar and gloomy global market sentiments. Further, the […]

Forex traders said the American currency strengthened after strong US retail sales data pointed to resilient consumption adding room for tighter policy by the US Federal Reserve. PTI November 17, 2022 / 04:08 PM IST Representative image. The rupee depreciated by 37 paise to close at 81.63 (provisional) against the US dollar on Thursday, tracking […]

ICICI Direct, The Euro edged higher by 0.44% on Wednesday amid a weak US dollar. November 17, 2022 / 10:40 AM IST Last date for the submission of bids by the interested parties is December 3 (Representative image) ICICI Direct’s currency report on EURINR The Euro edged higher by 0.44% on Wednesday amid a weak […]

Representative image. The rupee’s fall may not be over despite some gains in the past few days, as India is still fighting with a higher trade deficit and inflation, forex dealers said. Apart from the domestic concern over the deficit, geopolitical uncertainty and global growth worries could put pressure on the currency, they said. “The […]