Author: Currencies

This week inflation numbers came out for both India and the US for the month of January The rupee depreciated 10 paise to close at 82.74 (provisional) against the US currency on Friday, as the strength of the American currency in the overseas market and a muted trend in domestic equities weighed on investor sentiments. […]

Representative Image Improving macroeconomic fundamentals have made the Indian rupee more resilient, but the central bank’s ‘hands-on’ approach amid periods of volatility will also ensure the rupee outperforms its Asian peers going ahead, strategists and analysts said. The rupee has dropped 1% versus the U.S. dollar so far in February, as uncertainty over the future […]

Representative image ICICI Direct’s currency report on EURINR The Euro remained volatile and dropped yesterday amid strong dollar and sharp drop in German 10 years bond yields. Meanwhile, further downside was restricted as the consumer price inflation in the Euro Area was revised slightly higher to 8.6% YoY in January 2023, up from a preliminary […]

This week inflation numbers came out for both India and the US for the month of January The rupee appreciated by 15 paise to close at 82.73 (provisional) against the US dollar on Thursday, tracking its regional peers and lower crude oil prices. Forex traders said a muted trend in domestic equities and foreign fund […]

Representative Image ICICI Direct’s currency report on USDINR The US dollar edged higher on Wednesday after the US Federal Reserve meeting minutes showed policymakers are determined to hike interest rates by 25 bps in the next meeting to tame persistently high inflation. Meanwhile, further upside was capped on a drop in US 10 year’s treasury […]

Representative Image ICICI Direct’s currency report on USDINR The US dollar rose on Tuesday amid stronger than expected economic data from the US. The US services sector expanded in early February with S&P Global services PMI rising to 50.5 from 46.8 in January. This reading surpassed the market expectation of 47.2. Additionally, the manufacturing PMI […]

At the interbank foreign exchange market, the local unit opened strong at 82.68 and touched an intra-day high of 82.62 and a low of 82.80 against the greenback. The rupee depreciated 9 paise to close at 82.82 (provisional) against the US dollar on Tuesday as the strength of the American currency in the overseas market […]

Representative Image ICICI Direct’s currency report on EURINR The Euro fell 0.09% on Monday despite better-than-expected consumer confidence data from the euro area. The consumer confidence indicator in the Euro Area rose by 1.7 points to -19 in February 2023, the highest in a year and in line with market expectations • We expect the […]

Noted economist Nouriel Roubini doesn’t see weakness in rupee as a negative for India’s economy. He said that the gradually falling currency may not lead to imported inflation because some of the energy imports are from Russia at discounted prices and benefits of slightly weaker currency (in terms of export boost) may outperform concerns of […]

A daily round-up of the most interesting articles Here are the top stories this afternoon: Wipro offers freshers lower pay amid delays in onboarding IT major Wipro has written to candidates to whom it previously made an offer of Rs 6.5 lakh per annum (LPA), asking if they would be willing to take up a […]

At the interbank foreign exchange market, the local unit opened strong at 82.68 and touched an intra-day high of 82.62 and a low of 82.80 against the greenback. The rupee depreciated 14 paise to close at 82.84 (provisional) against the US currency on Friday as the strength of the American currency in the overseas market […]

Representative image ICICI Direct’s currency report on GBPINR The pound depreciated almost 0.30% on Thursday amid strong dollar and as Britain’s softer-than-expected inflation eased tightening pressures from the Bank of England. Meanwhile, further downside was prevented on uptick in UK 10 years bond yields • The pound is expected to trade with a negative bias […]

At the interbank foreign exchange market, the local unit opened strong at 82.68 and touched an intra-day high of 82.62 and a low of 82.80 against the greenback. The rupee appreciated by 13 paise to close at 82.70 (provisional) against the US currency on Thursday, supported by broad dollar weakness and a positive trend in […]

There could be one more rate hike before RBI hits the pause button. ICICI Direct’s currency report on GBPINR The pound depreciated by 1.20% yesterday amid a strong dollar and sharp drop in UK 10 year’s bond yields. Further, the pound fell after a bigger-than-expected drop in UK inflation in January, which raised expectations that […]

There could be one more rate hike before RBI hits the pause button. ICICI Direct’s currency report on EURINR The Euro edged higher on Tuesday amid a sharp rise in German 10 years bond yields. Meanwhile, sharp upside was capped as the Euro Area economy expanded 1.9% YoY in the last quarter of 2022, the […]

At the interbank foreign exchange market, the local unit opened strong at 82.68 and touched an intra-day high of 82.62 and a low of 82.80 against the greenback. The rupee fell by 12 paise to close at 82.82 (provisional) against the US currency on Tuesday, as market participants remained on the sidelines ahead of the […]

bonds The 10-year bond yields climbed to a three-month high after a higher-than-expected consumer price inflation, stoking the possibility of further rate hikes by the Reserve Bank of India. The 10-year bond yield was trading at 7.397 percent, which is a level last seen on November 1, 2022, and is up 4 basis points from its […]

ICICI Direct’s currency report on USDINR The US dollar fell on Monday after last week’s strong rally amid drop in US 10 years treasury yields and rise in risk appetite in global markets. Further, market participants awaited inflation data from the US that will help assess where monetary policy is headed • Rupee future maturing […]

After Thailand became ground zero in the Asian financial crisis, the baht achieved a long-running stability Thailand remains among the most open emerging economies. Trade has risen from 80 per cent of GDP in 1998 to more than 110 per cent today. (Source: REUTERS/Damir Sagolj) In February of 1998, 25 years ago this month, I […]

ICICI Direct, The Euro depreciated almost 0.60% on Friday amid a strong dollar. February 13, 2023 / 10:08 AM IST ICICI Direct’s currency report on EURINR The Euro depreciated almost 0.60% on Friday amid a strong dollar. Meanwhile, further downside was prevented as ECB board member Isabel Schnabel said the European Central Bank must still […]