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The rupee rose 6 paise to 90.85 against the US dollar in early trade on Thursday on the back of a weaker greenback and FII inflows. A positive start to the session at the domestic equity markets lent further support to the local unit while a rise in global crude oil prices, coupled with geopolitical uncertainties, capped sharp gains, according to forex traders. At the interbank foreign exchange, the rupee opened at 90.86 against the greenback before inching up to 90.85, higher by 6 paise from its previous close.The rupee stayed range-bound and settled with a gain of 4 paise…
The USD/JPY pair extends the previous day’s modest pullback from the 156.80-156.85 region, or a two-week high, and attracts some follow-through selling during the Asian session on Thursday. Spot prices slide to the 155.75 area during the Asian session and, for now, seem to have snapped a two-day winning streak amid a combination of factors.The Japanese Yen (JPY) strengthens in reaction to hawkish comments from the Bank of Japan (BoJ) officials, backing the case for further policy tightening. Apart from this, trade-related uncertainties and geopolitical risks ahead of the US-Iran nuclear talks benefit the JPY’s safe-haven status. This, along with…
US Secretary of State Marco Rubio said on Thursday that Iran poses a very grave threat to the United States and has for a very long time. Rubio added that talks Thursday will focus on the nuclear programme.Key quotesIran poses a very grave threat to the United States and has for a very long time. Iran is not enriching currently but they are trying to reach the point where they ultimately can. Iran talks on Thursday will primarily focus on the nuclear program. Iran poses conventional weapons designed to attack America. Iran is attempting to develop intercontinental ballistic missiles. Do not think diplomacy is ever off the…
Following an alleged data breach in the Yes Bank-BookMyForex multi-currency forex card, Yes Bank said in a statement to ET that the bank flagged unusually high unauthorised transactions on its multi-currency prepaid forex cards on February 24. About Rs 2.5 crore worth of transactions were approved across roughly 5,000 customers, even as 688 attempts were blocked, preventing losses of around Rs 90 lakh.The incident was detected after the lender’s fraud-monitoring systems recorded an unusual spike in transaction declined on specific bank identification numbers (BINs) tied to cards issued in partnership with BookMyForex. The unauthorised activity was traced to 15 merchants…
The Reserve Bank of India (RBI) on Wednesday announced that it will conduct a switch auction of government securities worth Rs 25,000 crore on March 2. The auction will take place between 10:30 AM and 11:30 AM. The result of the auction will be announced on the same day, and settlement will take place on March 4, RBI said in a release. This is the third switch auction announced by the RBI this month. This operation is expected to reduce the redemption pressure in FY27, when government bonds worth Rs 5.47 lakh crore are due to mature.In a switch auction,…
NZD/USD trades around 0.5980 on Wednesday at the time of writing, up 0.27% on the day and extending its rebound for a second consecutive day. The pair benefits from a weaker US Dollar (USD) after US President Donald Trump delivered his State of the Union address before Congress. In his speech, Donald Trump said he had engineered a “turnaround for the ages” in the US economy, highlighting easing inflation and solid growth. He also stressed that, in his view, tariffs were a key driver behind this improvement. The president added that he could impose higher duties on countries that “play…
HSBC Global Research views USD/CAD as largely driven by the broader Dollar trend, with the pair trading slightly below levels implied by rate spreads, reflecting Canadian Dollar resilience. Elevated Oil prices linked to Middle East tensions are supportive. With tariff uncertainty easing and a potentially less aggressive US trade stance into midterms, a sharp USD/CAD rise is seen as unlikely.Loonie resilient as oil and policy help”USD-CAD is primarily driven by the broad USD trend and is currently trading just below levels implied by interest rate differentials, reflecting CAD resilience.””Elevated oil prices, driven by Middle East tensions, continue to support the…
The Indian rupee ended nearly flat on Wednesday as dollar demand spurred by maturing contracts in the non-deliverable forwards market blunted positive impulses from modest inflows and gains in Asian peers.Despite expectations of elevated dollar demand related to NDF maturities this week, appetite to wager against the currency has also dulled due to expectations that the Reserve Bank of India will intervene to curb sharp falls.On the day, the rupee closed at 90.9475 against the dollar, nearly unchanged from its close of 90.95 in the previous session.State-run banks were intermittently spotted selling dollars above the 90.95 mark, a trader at…
The rupee stayed range-bound for the second consecutive day on Wednesday and settled 1 paisa lower at 90.96 (provisional) against the US dollar amid higher global crude oil prices and foreign fund outflows.A weaker greenback and positive sentiments in domestic equity markets prevented the rupee’s losses, according to forex traders.At the interbank foreign exchange, the rupee opened at 90.94 against the greenback and traded in a narrow range through the session before settling at 90.96 (provisional), down 1 paisa from its previous close.On Tuesday, the rupee settled 6 paise lower at 90.95 against the US dollar.”Rupee rose in early trades…
The Indian Rupee (INR) trades flat in the opening trade against the US Dollar (USD) on Wednesday. The USD/INR pair wobbles around 91.00 as the Indian Rupee trades with caution ahead of nuclear talks between the United States (US) and Iran on Thursday and the release of the domestic Q4 Gross Domestic Product (GDP) data on Friday.Investors will pay close attention to the outcome of the US-Iran nuclear talks, as it would have a significant impact on the oil price. Currencies from countries that rely heavily on imports of oil to fulfill their energy needs remain highly sensitive to the…