• posted by IMV |
  • 20/7/2018

The Indian rupee took a hard knock to cross below the 69.00 level near to historic mark of 69.32 against the US currency as upbeat comments on the US economy by the Federal Reserve Chairman drove the greenback to one-year high levels against global currencies. Extending its overnight bearish undertone, the rupee resumed substantially lower at the inter bank forex market on heavy demand for the American currency from importers and...

  • posted by IMV |
  • 18/7/2018

The Indian rupee traded moderately higher against the US dollar as crude oil prices declined after comments from US Treasury secretary Steven Mnuchin. US officials suggested the US will take a softer stance on countries that import oil from Iran. Federal Reserve Chairman Jerome Powell delivered an upbeat assessment of the economy and said it justified continued interest rate increases. But he opened the door to a potential policy shift...

  • posted by IMV |
  • 17/7/2018

Indian rupee continued to trade in demand zone against dollar on the back falling global crude oil prices and weakness noticed in the dollar in early trade against its major peers. In the last few sessions crude oil has been under pressure as Libyan ports reopened and traders eyed potential supply increases by Russia and other producers. There are also reports that US could tap its Strategic Petroleum Reserve, which would add supply to...

  • posted by IMV |
  • 16/7/2018

The Indian rupee traded with small gain and loss against the dollar as shrugging off weaknesses in emerging market currencies amid a suspected intervention by the Reserve Bank of India that helped dampen excess dollar demand in the market. India’s factory output growth slowed to a seven-month low in May while retail inflation quickened to a five-month high in June, signalling a worsening macro-economic environment. Last week data...

  • posted by IMV |
  • 13/7/2018

The Indian rupee gained marginally against the shrugging off weaknesses in emerging market currencies amid a suspected intervention by the Reserve Bank of India that helped dampen excess dollar demand in the market. India’s factory output growth slowed to a seven-month low in May while retail inflation quickened to a five-month high in June, signalling a worsening macro-economic environment. Data released by the statistics...

  • posted by IMV |
  • 12/7/2018

The Indian rupee traded sideways against the US dollar on the back of sustained demand of dollar by importers and banks amid a weakness in equities pushed the rupee lower. The dollar rose near an 11-month high against the major rivals after the U.S. said it would slap tariffs on an extra $200 billion of imports from China, sharply escalating tensions between the world's two biggest economies. The news threw U.S.-China trade war...

  • posted by IMV |
  • 11/7/2018

The Indian rupee traded mixed with lower tone against the US dollar on the back of sustained demand of dollar by importers and banks amid a weakness in equities pushed the rupee lower. The dollar rose near an 11-month high against the major rivals after the U.S. said it would slap tariffs on an extra $200 billion of imports from China, sharply escalating tensions between the world's two biggest economies. The news threw U.S.-China...

  • posted by IMV |
  • 10/7/2018

The Indian rupee showed a small recovery against the US dollar on the back of gain noticed in the domestic equity markets along with sustained dollar selling by exporters and banks amid a rally in equities and losses in the greenback pushed the rupee higher. Moreover, the dollar struggled near 3-1/2-week lows against its peers after US jobs data last week showed slower-than-expected wages growth, while the pound retreated as a key...

  • posted by IMV |
  • 09/7/2018

The Indian rupee opened higher against the US dollar, aided by dollar-selling intervention by the Reserve Bank of India last week. Gains in local equity markets and recovery in Chinese yuan also supported the sentiment. Moreover, the dollar struggled near 3-1/2-week lows against its peers after US jobs data showed slower-than-expected wages growth, while the pound retreated as a key member of Britain's cabinet resigned over Prime...

  • posted by IMV |
  • 06/7/2018

Key takeaway… Federal Reserve officials repeated their commitment to gradually raising the benchmark lending rate amid rising risks from trade battles and emerging-market turmoil that could blunt the tailwind from fiscal policy The Indian rupee maintained its weakness against the dollar in early on sustained capital outflows amid strengthening of the American currency overseas. Besides, heavy demand for the US currency from...