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The rupee declined by 11 paise to settle at 95.28 (provisional) against the US dollar on Monday amid a firm greenback and a rise in global crude oil prices.Lack of any breakthrough in talks in West Asia put further pressure on the local unit, while FII inflows provided some support, forex traders said.At the interbank foreign exchange market, the rupee opened at 95.18 and traded in a narrow range of 95.18-95.31 during the day. The local unit settled at 95.28 (provisional), down 11 paise from its previous close of 95.17 on Friday.”Rupee marginally dipped from last Friday’s closing of 95.17.…
Eurozone’s Sentix Investor Confidence data, a key indicator of Investor morale, turns positive to 0.9 in August from -3.1 in July. Source
The rupee fell 8 paise to 95.25 against the US dollar in early trade on Monday, weighed down by a stronger greenback and a rise in global crude oil prices.However, FII inflows and a rise in the country’s forex reserves capped a sharper fall in the local unit, forex traders said.At the interbank foreign exchange, the rupee opened at 95.18 before slipping further to 95.25, down 8 paise from its previous close.The rupee settled with a 5 paise gain at 95.17 against the US dollar on Friday.”Overall, USD/INR remained range-bound around 95.20-95.30, with the rupee ending the session (on Friday)…
USD/CHF inches higher after registering over 0.5% losses in the previous trading day, hovering around 0.8090 during the Asian hours on Monday. The pair appreciates as the US Dollar (USD) gains on rising safe-haven demand amid geopolitical tensions remaining high as the ongoing United States (US)-Iran conflict enters a critical diplomatic phase, with intense military engagements and strategic pressure surrounding the Strait of Hormuz driving market caution.Iran stated that talks with Oman to establish a safe shipping route through the strategic waterway are nearing an agreement, though Tehran cautioned that any deal would not result in an immediate reopening.Meanwhile, Iran-backed…
The dollar fell against major currencies including the yen and euro on Friday after U.S. employment unexpectedly declined in July, fueling concerns about the economy’s strength and undermining the case for the Federal Reserve to raise interest rates.The U.S. economy lost 23,000 jobs in July, the Labor Department said, compared with economists’ expectations for an increase of 80,000 jobs, according to a Reuters poll. The U.S. unemployment rate fell to 4.1% as the labor participation rate fell to a near a five-and-a-half year low of 61.4%.The dollar weakened against the yen after the report, shedding gains made in recent days…
The Indian rupee ended nearly flat Friday at 95.21 per dollar, versus its previous close of 95.22, as oil companies bought dollars to prevent the rupee from appreciating. Some state-run banks also sold dollars, traders said. The rupee traded in a 10-paisa range of 95.29 and 95.19, and the bias was negative. Brent crude oil prices were trading around $83-84 per barrel. Source
The Indian rupee could appreciate towards the 94 level against the US dollar if strong FCNR(B) deposits and sustained FPI inflows continue, according to Kotak Securities’ Anindya Banerjee. The 94 mark stands as a critical level for the USD/INR exchange rate, with FCNR(B) inflows and Foreign Portfolio Investment (FPI) flows set to dictate the real impact on the Indian currency, according to Anindya Banerjee, Head of Commodity and Currency Research at Kotak Securities, speaking to ANI.“I think we can see the rupee appreciate towards the levels of 94. Technically also 94 is a very important level. If it appreciates beyond…
The Indian rupee ended little changed on Monday, retreating from a three-week high hit in early trade, as dollar demand from importers and state-run banks gathered pace, blunting the boost from a sharp fall in oil prices.The currency, which climbed to a peak of 95.1275 as Brent crude prices slumped after U.S. President Donald Trump called off an imminent attack in hopes of quickly reaching a deal, ended at 95.3375 per dollar against the 95.38 previous close.Talks between Washington and Tehran are scheduled on Monday, lifting global stocks, including those in Mumbai.While the rupee received a sentimental boost from the…
At the interbank foreign exchange, the rupee opened at 95.15 against the greenback before rising further to 95.12, up 31 paise from its previous close. | Photo Credit: FRANCIS MASCARENHAS The rupee surged 31 paise to 95.12 against the US dollar in early trade on Monday over a steep fall in global crude oil prices and a softer greenback after US President Donald Trump decided to hold off strikes against Iran.FII inflows, a rise in the country’s forex reserves, and Reserve Bank of India (RBI) support further strengthened the local unit, according to forex traders.At the interbank foreign exchange, the…
DBS Group Research anticipates China’s credit demand to stay weak in July, with new Yuan loans around RMB 10.8 billion and M2 growth at 8% year-on-year. Corporate and household medium- to long-term lending are likely to soften amid cautious borrowing and mortgage prepayments. Elevated precautionary savings and subdued property prices are expected to constrain investment and consumption.Weak lending and elevated savings”Credit demand remains weak, with new yuan loan is expected to stay at RMB10.8bn in July.””Both corporate and household medium- to long-term lending likely softened amid cautious borrowing sentiment and continued mortgage prepayments.””M2 growth is expected to remain at 8.0%…