ICICI Direct, US dollar index tumbled to its two weeks low amid a sharp jump in US weekly jobless claims numbers. Jobless claims hit a 19-month high last week and knocked treasury yields lower.
Indian rupee strengthened marginally against US dollar on June 9 tracking gains in the Asian currencies and local equity markets.
ICICI Direct, The US dollar index remained largely unchanged yesterday as investors stay cautious ahead of next week’s key FOMC meeting.
After a 10% decline in 2022, the rupee has traded within its narrowest range in nearly two decades this year, as the Reserve Bank of India has regularly intervened to shelter the currency from big swings.
At the interbank foreign exchange market, the local unit opened at 82.56 against the US dollar and settled at 82.55 (provisional), up 5 paise over its previous close.
The Indian rupee on June 7 ended marginally higher against the US dollar tracking gains in the Asian peers and local equity markets.
Indian rupee on June 7 opened marginally higher in a thinly traded market against the US dollar ahead of the key Reserve Bank of India's bi-monthly policy
ICICI Direct, The US dollar index retreated to 104 level after climbing as high as 104.40 on Monday, amid weaker set of economic numbers.
ICICI Direct, The pound wiped its gains on Friday amid strong dollar. The pair lost more than 0.50% on Friday and moved below the 1.2450 mark after testing one week high at 1.2544•
The rupee is poised to test the 83-per dollar mark in the near term if the central bank remains on hold this week and changes its stance to neutral, effectively signaling an end to its hiking cycle.
USD-INR is expected to remain sideways within our range. A Double Butterfly (Asymmetrical) trade to capitalise
ICICI Direct, The US dollar index fell more than 0.50% on Thursday as weaker set of economic numbers and hawkish comments form Fed officials reinforced the expectation that Fed will take a pause in its rate hike regime.
At the interbank foreign exchange market, the local unit opened at 82.54 against the US dollar and settled at 82.42 (provisional), up 33 paise over its previous close amid sustained foreign fund inflows.
ICICI Direct, The US dollar index ended the day on a positive note amid a surprise gain in US JOLTS job opening numbers, which jumped to 10.103 million for the first time in the last two months.
ICICI Direct, The US dollar index paused in its rally and steadied near 104.20 as a US debt ceiling deal lifted risk appetite in the world markets and dented the safe haven appeal of the dollar.
However, a firm trend in domestic equities, foreign capital inflows and lower crude prices restricted the fall in the domestic unit, forex traders said.
However, the elevated level of the US dollar against major crosses overseas restricted the upward movement in the domestic unit, forex traders said.
As per a gazette notification by Department of Economic Affairs under the finance ministry, the weight of this coin could be 34.65- 35.35 gram.
ICICI Direct, The Euro fell to its two month lows on Thursday amid a strong dollar and weaker economic numbers from eurozone.
ICICI Direct, The Euro fell towards the 1.075 mark and slid more that 0.10% on Wednesday amid a strong dollar and weaker global risk sentiments.
Shaktikanta Das also spoke about other measures like international trade settlement in rupee to make the Indian currency widely acceptable as a tool of international trade settlements.
ICICI Direct, The Euro fell below the 1.08 mark and slid more that 0.40% on Tuesday amid a strong dollar and weaker economic numbers.
The Reserve Bank of India’s move to withdraw the 2,000 rupees ($24) notes will lead to growth in deposits at banks and lower their cost of funds, according to a note from Axis Mutual Fund.
ICICI Direct, The pound remained in a tight range on Monday after its sharp rebound on Friday.
ICICI Direct, The US dollar index retreated from its earlier gains after the US Federal Chair Jerome Powell struck a moderately dovish stance.