Moneycontrol Currency News

Rupee gains 54 paise; claws back to 55-level vs dollar

Fri, 01 Jun 2012 19:47:37 +0530

Moving up for the second straight day, the rupee on Friday gained a whopping 54 paise to end at 55.54 against the dollar on persistent dollar-selling by exporters amid RBI hinting at opening a separate dollar window for oil firms

DGCX extends trading hours for Indian rupee futures

Fri, 01 Jun 2012 18:32:10 +0530

The Dubai Gold and Commodities Exchange (DGCX) will open one-and-a-half hours earlier at 7.00 am local time (8.30 am Indian time) which is expected to help participants trading in Indian rupee futures.

Rupee posts ninth straight weekly drop

Fri, 01 Jun 2012 18:26:03 +0530

The rupee strengthened on Friday on the back of dollar sales by corporates but it still posted a ninth consecutive weekly drop, its worst losing streak since the Lehman crisis.

Can't arrest rupee fall if driven by weak fundamentals: RBI

Fri, 01 Jun 2012 15:00:16 +0530

The Reserve Bank cannot arrest the rupee's decline if it is caused by weak fundamentals or global factors but can only take more calibrated steps in the forex market in such a scenario, top official said today.

Rupee gains as lower oil helps

Fri, 01 Jun 2012 14:32:03 +0530

The rupee traded at 55.89-55.90 per dollar, above its previous close of 56.08-56.09, helped by dollar-selling from two large foreign banks on what was seen as custodian flows, as well as from a mid-sized infrastructure company.

IDBI Bank's target for Re: 54 in June, 53 in Dec, 51 in Mar

Fri, 01 Jun 2012 12:54:16 +0530

NS Venkatesh, chief general manager head treasury said the relief in rupee is shortlived as undelying problems like the fiscal defict has not been answered yet.

Can't arrest rupee fall if due to fundamental factors - RBI

Fri, 01 Jun 2012 12:46:02 +0530

INDIA-RBI-RUPEE:Can't arrest rupee fall if due to fundamental factors - RBI

Coming soon: Euro parity with the dollar?

Fri, 01 Jun 2012 10:10:02 +0530

The euro hit a two-year low against the dollar on Thursday and forex strategists say there is a growing possibility that the single currency could fall to parity if Greece were to exit the euro zone.

Rupee rebounds from weak open, caution prevails

Fri, 01 Jun 2012 09:22:02 +0530

The rupee recovered from a weak open to gain to above 56 to the dollar on Friday, though broader sentiment was weak as the euro fell to a 2-year low, reflecting the worsening euro zone debt crisis and disappointing Chinese manufacturing data.

Rupee opens at 56.24 per dollar

Fri, 01 Jun 2012 09:02:28 +0530

The Indian rupee opened at 56.24 per dollar versus 56.09 yesterday.

Expect RBI to keep rates unchanged on June 18: Rajeev Malik

Fri, 01 Jun 2012 08:33:17 +0530

India's GDP grew a pathetic 5.3% for Q4, a figure that was below the worst GDP growth of 5.8% during the Global Financial Crisis, says Rajeev Malik, CLSA.

Rupee to be under pressure: Pramit Brahmbhatt

Fri, 01 Jun 2012 08:27:57 +0530

The rupee will be under pressure due to both local global factors, says Pramit Brahmbhatt, Alpari India.

Weak rupee hits Indian scrap metal imports

Thu, 31 May 2012 18:00:02 +0530

A weaker rupee has cut India's scrap metal imports this month, forcing buyers to look for cheaper domestic alternatives, the vice-president of the Metal Recycling Association of India told Reuters on Thursday

Rupee hits new low; RBI denies market talk

Thu, 31 May 2012 16:47:44 +0530

There was a dramatic move on show in the currency markets today. After a negative start, the rupee rose all the way to 55.73 per dollar on talk that the RBI asked oil companies to restrict dollar purchases to just four PSU banks. But the cheer was short-lived as the RBI rubbished the market talk, reports Gopika Gopakumar.

56 to 57 is a dangerous zone for rupee: Moses Harding

Thu, 31 May 2012 16:27:58 +0530

Rupee was very volatile today. In an interview to CNBC-TV18, Moses Harding, IndusInd Bank says, 56 to 57 is a dangerous zone. “Rupee is seen as highly under valued. So, 56-57 is the level where genuine supplies come in and also, the fear of big bang action from RBI,” he adds.