Author: Currencies

However, elevated crude prices and persistent foreign fund outflows restricted the rupee’s gain, forex dealers said. Representative Image The rupee appreciated 6 paise to 78.27 against the US dollar in opening trade on Monday as heavy buying in domestic equities and weakness in the greenback strengthened investor sentiment. However, elevated crude prices and persistent foreign […]

ICICI Direct, The pound gained marginally by 0.11% on Friday amid weak dollar and strong retail sales data. June 27, 2022 / 08:26 AM IST Representative image ICICI Direct’s currency report on GBPINR The pound gained marginally by 0.11% on Friday amid weak dollar and strong retail sales data. Retail sales in the UK declined […]

At the interbank foreign exchange, the rupee opened at 78.20 against the American dollar. In initial trade, the local currency witnessed a high of 78.19 and a low of 78.24 against the US dollar. Representative Image Recovering from its record low, the rupee opened 12 paise up at 78.20 against the US dollar on Friday, […]

A shortage of cash dollars and forward market intervention by the Reserve Bank of India which has pushed onshore 1-year forward premiums to their lowest levels in more than a decade could pressure the rupee to new lows, traders and analysts said. The one-year annualised forward premium stood at 2.91% at 0830 GMT, compared to […]

At the interbank foreign exchange market, the local currency opened at 78.26 and finally settled at its all-time low 78.32, unchanged from its previous close PTI June 23, 2022 / 04:28 PM IST The rupee on Thursday closed at its all-time low of 78.32 (provisional) against the US dollar as strong American currency and persistent […]

ICICI Direct, The Euro edged higher by 0.32% on Wednesday amid weak US dollar. June 23, 2022 / 08:41 AM IST Representative image ICICI Direct’s currency report on EURINR The Euro edged higher by 0.32% on Wednesday amid weak US dollar. Further, the Euro was supported by the statement of German finance minister Christian Lindner, […]

The losing streak of the Indian rupee, which hit a new low against the dollar on June 22, is likely to continue say economists, as they revised forecasts following the persistent depreciation in the exchange rate. As geopolitical troubles and supply-chain disruptions continue, the Indian currency could remain under pressure due to dollar outflows and […]

ICICI Direct, The pound appreciated by 0.23% on Monday amid weak dollar and hawkish comments from Catherine Mann. June 21, 2022 / 09:06 AM IST Representative image ICICI Direct’s currency report on GBPINR The pound appreciated by 0.23% on Monday amid weak dollar and hawkish comments from Catherine Mann. Ms Mann said on Monday that […]

However, unabated foreign fund outflows, a lacklustre trend in domestic equities and strong American dollar overseas restricted the gain, forex dealers said. (Representative Image) The rupee strengthened by 12 paise to 77.93 against the US dollar in opening trade on Monday as easing crude oil prices supported the local unit. However, unabated foreign fund outflows, […]

ICICI Direct, The pound depreciated by 1.08% on Friday amid renewed dollar strength. Further, the pound was pressurised by weakness in UK government bond yields. June 20, 2022 / 08:40 AM IST (Representative Image) ICICI Direct’s currency report on GBPINR The pound depreciated by 1.08% on Friday amid renewed dollar strength. Further, the pound was […]

The RBI has done sell/buy swaps in March and April to elongate the tenure of its forward contracts. The central bank turned a net buyer of dollars in the spot forex market, as per data. The Reserve Bank of India (RBI) was a net buyer in the foreign exchange market in April but trimmed its […]

Besides, a firm trend in domestic equities and weak American dollar in the overseas market supported the domestic unit, forex dealers said. The rupee strengthened by 15 paise to 78.07 against the US dollar in opening trade on Thursday after the US Federal Reserve hiked interest rate by 75 basis points and signalled more rate […]

ICICI Direct, The pound appreciated by 1.50% on Wednesday amid pull back in dollar and expectation on potential interest rate hike by BOE. June 16, 2022 / 08:56 AM IST Representative image ICICI Direct’s currency report on GBPINR The pound appreciated by 1.50% on Wednesday amid pull back in dollar and expectation on potential interest […]

ICICI Direct, The pound depreciated by 1.12% on Tuesday amid strong dollar and weak economic data. June 15, 2022 / 09:09 AM IST Representative image ICICI Direct’s currency report on GBPINR The pound depreciated by 1.12% on Tuesday amid strong dollar and weak economic data. The unemployment rate in the UK edged higher to 3.8% […]

Forex traders said lacklustre domestic markets, elevated crude oil prices and persistent foreign capital outflows weighed on the local unit. The rupee opened on a flat note and inched higher by 5 paise to 77.99 against the US dollar in opening trade on Wednesday. Forex traders said lacklustre domestic markets, elevated crude oil prices and […]