The Dollar is more armoured division than currency
Despite predictions of a tough year, the greenback is overpowering challengers. There’s more to this supremacy than mere interest rates
Currency Markets: A decline in the Euro to parity with the Dollar beckons
Inflation has been steadily declining globally. Both the US and euro-zone consumer price measures peaked at just over 9% in mid- to late-2022, with February seeing euro-zone inflation dropping to 2.6%, lower than the 3.1% figure for the US. On the growth outlook, US gross domestic product rose at an annualised 3.2% pace while the euro zone economy stagnated
Sell USDINR; target of : 83.20 : March 27, 2024: ICICI Direct
ICICI Direct, Rupee appreciated to 83.30 on Tuesday amid fresh bout of intervention from RBI and stronger Asian currencies.
Rupee falls 35 paise to hit all-time low of 83.48 against US dollar
The rupee had earlier recorded its lowest closing level of 83.40 on December 13, 2023. According to Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas, the US dollar strengthened on weak euro and pound.
Sell GBPINR; target of : 105.20 : March 22, 2024: ICICI Direct
ICICI Direct, Pound lost almost 1% after BOE kept its benchmark rates on hold as expected. It fell after all the members voted for no hike in interest rates.
Sell USDINR; target of : 83.00 : March 21, 2024: ICICI Direct
ICICI Direct, Pound also traded lower amid strong dollar. The pair is expected to find support near 1.266 and move towards 1.2740 on expectation of no change in the monetary policy from the BOE.
Buy GBPINR; target of : 105.70 : March 20, 2024: ICICI Direct
ICICI Direct, Pound also traded lower amid strong dollar. The pair is expected to find support near 1.266 and move towards 1.2740 on expectation of no change in the monetary policy from the BOE.
Buy USDINR; target of : 83.00 : March 19, 2024: ICICI Direct
ICICI Direct, Rupee depreciated on Monday amid strong dollar and weakness in Asian currencies. Further, dollar purchase by state-run banks have limited the rupee’s rally.
Rupee falls on weak Asian currencies, state-run banks' dollar purchases
The rupee settled at 82.9050 to the U.S. dollar compared with 82.8775 in the previous session. The local unit traded in a 82.83 to 82.9150 band in Monday's session.
Buy USDINR; target of : 83.00 : March 18, 2024: ICICI Direct
ICICI Direct, Rupee edged lower on Friday amid strong dollar and rise in US treasury yields. Sticky inflation numbers in US has supported the dollar to stay higher.
US dollar set for best weekly gain since mid-January, yen eases ahead of BOJ next week
Data on Friday showed a solid U.S. manufacturing sector, with output rebounding by 0.8% last month after a downwardly revised 1.1% decline in the prior month.
Rupee falls 4 paise to close at 82.88 against US dollar
At the interbank foreign exchange market, the local unit opened at 82.95 and touched the intra-day low of 82.96 and a high of 82.85 against the greenback.
Rupee falls 1 paisa to end at 82.82 against US dollar
At the interbank foreign exchange market, the local unit opened slightly weak at 82.84 and witnessed an intra-day low of 82.89 and a high of 82.82 against the greenback during the session.
Buy USDINR; target of : 82.96 : March 14, 2024: ICICI Direct
ICICI Direct, Rupee depreciated against the dollar yesterday amid weakness in the domestic equities.
Buy EURINR; target of : 90.75 : March 12, 2024: ICICI Direct
ICICI Direct, Euro edged lower by 0.20% yesterday amid dovish comments from the ECB Governing council members and the ECB President Lagarde last week.
A Fed cut in June, rupee at 82 could add to India’s appeal: Bank of America's Adarsh Sinha
Everything we've heard from Fed officials so far suggests the median would still be three rate cuts and the June cut is still on the table
Rupee falls 8 paise to settle at 82.75 against US dollar
At the interbank foreign exchange market, the local unit opened at 82.74 and touched the intra-day low of 82.76 against the greenback.
Buy EURINR; target of : 90.50 : March 07, 2024: ICICI Direct
ICICI Direct, Euro edged higher by 0.39% yesterday amid weak dollar and better than expected German trade data.
Buy USDINR; target of : 82.82 : March 06, 2024: ICICI Direct
ICICI Direct, Rupee ended barely changed yesterday amid pessimistic domestic market sentiments.
Buy GBPINR; target of : 105.50 : March 05, 2024: ICICI Direct
ICICI Direct, Pound is expected to rise further towards 1.2720 level amid soft dollar and ahead of British budget.
Buy EURINR; target of : 90.30 : March 04, 2024: ICICI Direct
ICICI Direct, Euro edged higher by 0.30% on Friday amid weakness in dollar and as Eurozone CPI rose more than expected.
Buy EURINR; target of : 90.20 : February 29, 2024: ICICI Direct
ICICI Direct, Euro edged lower by 0.05% yesterday due to firm dollar and weak economic data from euro zone.
Sell USDINR; target of : 82.82 : February 28, 2024: ICICI Direct
ICICI Direct, Rupee ended flat yesterday after moving in a tight range amid rise in dollar demand from importers.
Buy EURINR; target of : 90.40 : February 27, 2024: ICICI Direct
ICICI Direct, Euro edged up by 0.3% yesterday buoyed by weakness in dollar and hawkish comments from ECB policymakers.
