Robust equity inflows — totalling Rs 2,769.81 crore — reflect continued foreign investor interest in Indian assets, forex traders said, adding while capital inflows offer support, global uncertainties could cap gains.
The rupee closed at 86.8925 against the U.S. dollar, down from its close at 86.8275 in the previous session.
According to forex traders, Tuesday's sharp gain a day after sliding closer to the 88 level shows a highly volatile currency market amid concerns over the worldwide tariff war
Indian rupee expected to open stable on Friday, influenced by domestic demand for U.S. dollars amid global market quietness post-Thanksgiving.
Gold prices slightly rose as the U.S. dollar dipped, but holiday-thinned trading and Federal Reserve rate uncertainty kept investors cautious.
The currency controls, cash inflows and other remittances have helped the afghani climb around 9% this quarter, outpacing the likes of the Colombian peso’s 3% gain, data compiled by Bloomberg show.
The U.S. dollar index, which measures the currency against a basket of rivals, was 0.076% lower at 105.04, after having been as low as 104.66 earlier in the session.
A positive trend in domestic markets and upbeat macroeconomic data from India cushioned the downside for the local unit, forex traders said.
Traders are watching out for any signs of intervention in the currency market from Japanese authorities as the yen weakens.
At the interbank foreign exchange, the domestic unit opened at 81.74 against the dollar and touched an early high of 81.67 in initial deals.
Fund-raising to be done through public offer or private placement of senior unsecured notes in US dollar or any other convertible currency.
The dollar index, which measures the greenback's value against six major currencies, fell 0.3% to 104.60, from as high as 105.36 at the start of the week, its strongest level since Jan. 6.
Indian refiners and traders are concerned they may not be able to continue to settle trades in dollars, especially if the price of Russian crude rises above a cap imposed by the Group of Seven nations and Australia in December.
According to figures from the Reserve Bank of India (RBI), the nation's foreign exchange reserves decreased by USD 6.687 billion to USD 564.053 billion in the week ending August 19.
The Zoho CEO said, ""The dollar system and therefore the global trading system are showing severe strains. We cannot rule out the possibility of a collapse, which would be worse than the GFC 2008-9."
Money markets priced in a 28.5-bps-rate hike in March and as many as 119.5 bps in cumulative increases by year's end as the dollar stayed in the limelight after a week highlighted by a hawkish Federal Reserve meeting.
Lots of investors are talking about 15-20 percent allocation towards international equities. As diversification takes off, the Rs 6000-crore sum will increase manifold over the next three to five years.
As the world's biggest trader in goods, China is crucial to the global economy and its performance affects partners from Australia to Zambia, which have been battered by its slowing growth -- while it faces headwinds itself in key developed markets.
ICICIdirect.com has come out with its report on currencies. According to the research firm, one can sell USDINR March future for the target of target of 67.62-67.43
ICICIdirect.com has come out with its report on currencies. According to the research firm, one can sell USDINR Feb future for the target 68.55-68.35.
According to Swastika Investmart, USDINR is expected likely to open in a negative note today. Momentum indicator is reflecting its relief shadow over short positions as on daily chart we are visiting divergence.
ICICIdirect.com has come out with its report on currencies. According to the research firm, USDINR February is expected to trade in a range of 68.76-68.86.
ICICIdirect.com has come out with its report on currencies. According to the research firm, one can sell USDINR Feb future for the target of 68.30-68.12.
ICICIdirect.com has come out with its report on currency. According to the research firm, the US dollar is expected to attract selling pressure on rallies against the INR. One can utilise the highs in the USD/INR February contract to sell. Rupee has resistance at 68.05/68.30, says the report.
ICICIdirect.com has recommended traders to sell USDINR Feb in the range of 68.40-68.50 for the target of 68.20-67.95.