Author: Currencies

Indian shares nosedived in the morning trade on August 29, mirroring the sharp decline in the US market on August 26 and weakness in the Asian counterparts as hawkish commentary from the US  Federal Reserve chairman Jerome Powell spooked investors. In his much-awaited speech at Jackson Hole symposium last week, Powell said the US central bank would continue to […]

The currency may look strong but its weaknesses are mounting Representative image. Ruchir Sharma (The writer is chair of Rockefeller International) This month, as the dollar surged to levels last seen nearly 20 years ago, analysts invoked the old Tina (there is no alternative) argument to predict more gains ahead for the mighty […]

Indian shares nosedived in the morning trade on August 29, mirroring the sharp decline in the US market on August 26 and weakness in the Asian counterparts as hawkish commentary from the US  Federal Reserve chairman Jerome Powell spooked investors. In his much-awaited speech at Jackson Hole symposium last week, Powell said the US central bank would continue to […]

The rupee breached the 80-to-a-dollar mark to hit a fresh record low while bond yields climbed 6 basis points, tracking a fall in global equities on the back of the Federal Reserve’s hawkish rhetoric at Jackson Hole. At 9.30am, the home currency was trading at 80.03 against the US dollar, down 0.25 percent from its previous […]

“The RBI is likely to intervene at key levels such as 80,” Kunal Kundu, economist at Societe Generale, wrote in the note. Reuters August 26, 2022 / 12:03 PM IST The Indian rupee is likely to struggle against the dollar as slowing global growth and the Federal Reserve’s interest rate stance overshadows Reserve Bank of […]

ICICI Direct, The Euro appreciated yesterday amid strong economic data from the euro area. August 26, 2022 / 08:39 AM IST ICICI Direct’s currency report on EURINR The Euro appreciated yesterday amid strong economic data from the euro area. The German economy advanced 0.1% on quarter in Q2 2022, compared to preliminary estimates of a […]

ICICI Direct, The Euro depreciated by almost 0.90% on Monday amid a sharp rise in the US dollar index. August 25, 2022 / 08:45 AM IST Representative image ICICI Direct’s currency report on EURINR The Euro traded flat yesterday amid growing recession fears fuelled by a possible energy supply crunch and strong US dollar. However, […]

India may give incentives to exporters settling trades using rupees to boost the acceptability of the currency and increase the sales of goods to Russia, which has fallen because of western sanctions, according to government and industry sources. The move is designed to boost Russian trade after the Reserve Bank of India (RBI) put in […]

ICICI Direct, The Euro depreciated by almost 0.90% on Monday amid a sharp rise in the US dollar index. August 24, 2022 / 09:14 AM IST ICICI Direct’s currency report on GBPINR The pound appreciated almost 0.50% yesterday amid weakness in US dollar and stronger than expected services PMI data from Britain. The UK services […]

ICICI Direct, The Euro depreciated by almost 0.90% on Monday amid a sharp rise in the US dollar index. August 23, 2022 / 10:18 AM IST Representative image ICICI Direct’s currency report on EURINR The Euro depreciated by almost 0.90% on Monday amid a sharp rise in the US dollar index. Further, the Euro was […]

Euro falls to as low as 0.9988 to the dollar, weighed down by concern that a three-day halt to European gas supplies later this month will exacerbate an energy crisis. Reuters August 22, 2022 / 03:11 PM IST The Indian rupee slipped to a four-week low against the dollar on Monday as the euro and […]

At the interbank foreign exchange market, the local currency opened weak at 79.90 and moved in a range of 79.78 to 79.92 during the session PTI August 22, 2022 / 04:16 PM IST The rupee recovered early losses to close flat at 79.84 (provisional) against the US dollar on Monday amid a strong greenback overseas […]

At least 15 Russian banks are in advanced talks with Indian lenders to facilitate bilateral business in their respective local currencies, the Economic Times reported on August 22 citing people familiar with the matter. The lenders are currently working on building a reference exchange-rate framework between the rupee and the rouble, it reported. Russian lenders, […]

The Indian rupee’s fair value is around 80 against the U.S. dollar, given the country’s balance of payment challenges and the Reserve Bank of India’s interventions, JPMorgan’s head of emerging Asia local markets strategy said. India’s balance of payments, a measure of how much the country relies on money from abroad, has been squeezed by […]

However, losses in the domestic stock markets weighed on the local unit and restricted the gain, forex traders said. The rupee appreciated 4 paise to 79.80 against the US dollar in opening trade on Monday, supported by receding crude prices in global markets and weakness in the American currency overseas. However, losses in the domestic […]

ICICI Direct, The pound depreciated by almost 0.80% on Friday amid strong US dollar. Broker Research August 22, 2022 / 08:32 AM IST ICICI Direct’s currency report on GBPINR The pound depreciated by almost 0.80% on Friday amid strong US dollar. However, further downside was prevented by strong economic data from Britain. Retail sales in […]

At the interbank foreign exchange market, the local currency opened at 79.75 and moved in a range of 79.73 to 79.84 during the day. August 19, 2022 / 04:05 PM IST (Representative image) The rupee depreciated 20 paise to close at 79.84 (provisional) against the US dollar on Friday amid a strengthening greenback overseas. At […]

The Indian rupee is expected to open lower against the U.S. currency on Friday after the dollar index reached a one-month high following comments from U.S. Federal Reserve officials over the quantum of rate hikes. The rupee is tipped to open around 79.75 per U.S. dollar in initial trades compared with 79.6725 in the previous […]

ICICI Direct, The Euro tumbled almost 0.90% on Thursday amid a sharp rise in the US dollar. August 19, 2022 / 09:26 AM IST Representative image ICICI Direct’s currency report on EURINR The Euro tumbled almost 0.90% on Thursday amid a sharp rise in the US dollar. However, further downside was restricted by strong inflation […]

At the interbank foreign exchange, the rupee opened at 79.75 against the US dollar, then fell to 79.76, registering a decline of 12 paise over the last close. The rupee depreciated 12 paise to 79.76 against the US dollar in opening trade on Friday, tracking the strength of the American currency in the overseas market. […]