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Indian rupee weakens to hit record low hurt by weak Asia FX
The Indian rupee reached an all-time low, driven by a fall in Asian currencies and equity outflows. Traders indicated possible Reserve Bank of India intervention to prevent further declines. The rupee's previous low was 83.8450. Near-term pressures are anticipated for the currency due to unwinding carry trades and equity outflows.
China's yuan leaps to 7-month high, led by stronger yen, unwinding of carry trade
The Chinese yuan reached its highest point against the U.S. dollar in seven months due to a stronger Japanese yen and investors reversing carry trades. The weak U.S. labor data and potential Federal Reserve rate cuts contributed to the yuan's rise. Future movements hinge on Chinese exporters' decisions and domestic economic factors.
Rupee set to keep tiptoeing to new lows as policy pivot in focus
The Indian rupee’s status shifted from emerging Asia’s best-performing currency to one of the worst this quarter, driven by stock outflows and high dollar demand. Analysts forecast further depreciation, especially if the Reserve Bank of India turns dovish. Despite RBI’s stabilizing efforts, the currency is anticipated to weaken gradually amidst ongoing market pressures.
Dollar hits four-month low as weak US jobs data boosts rate cut bets
The U.S. dollar reached a four-month low after weaker job data for July raised expectations of a significant Federal Reserve rate cut in September. Job additions were below forecasts, causing the unemployment rate to rise. Market sentiment has shifted, anticipating substantial rate cuts by year-end, leading to declines in both Treasury yields and the dollar index.
Dollar hits four-month low as weak jobs data boosts rate cut bets
Employers added 114,000 jobs, below expectations for an increase of 175,000. The unemployment rate rose to 4.3%, above economists expectations that it would be unchanged on the month at 4.1%.
Rupee turns flat at 83.73 against US dollar in early trade
On Friday, the rupee remained flat at 83.73 against the US dollar, influenced by weak equity markets and rising crude oil prices. The softer dollar and foreign capital inflows into Indian equities provided support. The Reserve Bank of India's likely intervention contributed to limiting the rupee's weakness. Key economic data included GST collections and manufacturing sector performance.
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Dollar gains on geopolitical tensions, pound slips after rate cut
The dollar gained on Thursday as rising geopolitical tensions provided a safe haven boost to the currency, while the British pound fell after the Bank of England cut interest rates from a 16-year high.
Indian rupee strengthens marginally to 83.717 per US dollar
The Indian rupee strengthened marginally and closed at 83.717 on Thursday versus the US dollar as the dollar index strengthened, but a likely intervention from the Reserve Bank capped weakness in the currency.
Rupee ends nearly flat, RBI intervention helps cap losses
Asian currencies were mostly higher on the day but the offshore Chinese yuan fell 0.3% to 7.24. The RBI likely sold dollars, via state-run banks, to support the rupee, traders said.
Dollar nurses losses after Fed hints rate cuts on the way; yen firms
The U.S. dollar fell on Thursday as the Federal Reserve suggested a possible interest rate cut in September. Meanwhile, the yen surged to its highest level since March after the Bank of Japan raised rates. Traders are now focused on upcoming inflation and jobs reports, expecting significant easing this year.
Rupee hits all-time intra day low, ends flat against dollar
The Indian rupee remained unchanged at the end of market hours on Wednesday, but weakened to an all time intra day low of 83.745 per US Dollar due to continuous dollar demand from local importers and volatility in crude oil prices.
Rupee ends flat after slipping to record low, logs worst monthly decline in four
The Indian rupee reached a record low of 83.72 against the U.S. dollar, driven by equity outflows, volatility in the yuan, and strong dollar demand.
Rupee rises 2 paise to 83.71 against US dollar in early trade
On Wednesday, the rupee gained 2 paise to reach 83.71 against the dollar due to a slight dip in the greenback overseas. Brent crude futures rose by 1.49%. The BSE Sensex initially spiked over 200 points before settling. Foreign institutional investors sold shares totaling Rs 5,598.64 crore on Tuesday.
Rupee remains flat at 83.73 against US dollar in early trade
The rupee opened at 83.73 against the US dollar on Tuesday amid firm overseas markets and declining crude oil prices. The domestic equity market saw gains with the Sensex rising 67 points to 81,423.53 and Nifty up 25 points to 24,861.35. Forex traders noted restrained rupee movement due to month-end dollar demand and outflows.
Dollar trades sideways as markets wait for central bank, economic news
The dollar stayed stable with major central bank meetings and critical U.S. employment data on the horizon. The yen's rise was fueled by interest rate expectations, while the euro slipped. U.S. equities played a pivotal role amid uncertain market conditions. Bitcoin fell even after positive comments from Donald Trump about the sector.
Rupee at record low of 83.737/$1, unchanged from previous close
The local currency ended at 83.7275 against the US dollar on Monday, unchanged from its previous record low close on Friday, LSEG data showed. The currency hit its record intra day low of 83.74/$1 during Monday's trading session.
Rupee hits record low on month-end dollar demand; RBI helps cap losses
The Indian rupee hit a record low of 83.74 against the U.S. dollar on Monday, closing at 83.7275. Corporate dollar demand and local equity outflows added pressure. The Reserve Bank of India likely intervened to prevent further decline.
Rupee stays near record low while Asian peers rise
The Indian rupee stayed flat at 83.7150 against the U.S. dollar on Monday, marginally better than its record low in the previous session. The currency faced pressure from local equity outflows and a volatile Chinese yuan, while forward premiums rose due to declining U.S. bond yields.
Markets showing no sign of nervousness amid weak rupee: BofA
The one-month implied volatility being priced by the foreign exchange options market has been below 2% for six months now, much lower than 3.5% a year ago, he said. On Friday, the rupee ended trade at an all-time low of 83.73/$1, having depreciated around 0.1% versus the US currency for the week, LSEG data showed. The weakness in the rupee has been driven by sharp volatility in the Chinese yuan, as well as foreign outflows from stock markets, which turned choppy after the government raised capital gains taxes on equities in the budget for FY25.
Rupee declines to all-time low amid outflows, tepid risk
The Indian rupee reached a historic low of 83.7250 against the U.S. dollar on Friday. This decline was driven by weak risk appetite, dollar demand from oil companies, and outflows from domestic equities. The Chinese yuan's volatility also contributed to this drop, heightening concerns over carry trades between the two currencies.
‘Crazy’ yen rally is at risk of shattering as soon as next week
Swaps markets suggest a 41% chance of the Bank of Japan hiking rates by 15 basis points by the conclusion of its July 31 policy meeting, indicating plenty of caution. And only 30% of BOJ watchers surveyed by Bloomberg forecast a hike, even if more than 90% see it as a risk.
Rupee strengthens as dollar weakens, ends at 83.69 against USD
The rupee strengthened moderately on Thursday, before touching a new low of 83.72, due to weaker dollar index, stronger Asian currencies like the Chinese yuan and Japanese yen and likely intervention from the Reserve Bank of India.
Rupee slips to all-time low of 83.72 against US dollar in early trade
The rupee hit an all-time low of 83.72 against the US dollar due to a strong American currency and foreign fund outflows. The decline followed a tax hike on capital gains, causing a dip in Indian equity markets. Persisting dollar demand for defence and oil payments further pressured the currency.
Yen rises as carry trades unwind, risk sentiment takes a hit
Ahead of the Bank of Japan's policy meeting, the yen gained support due to unwinding carry trades. The Australian and New Zealand dollars struggled as commodity prices declined. The euro was pressured by weak PMI data, while the U.S. dollar held steady pending growth figures. Investors are cautious about risk sentiment.
Dollar firms as commodities slide and carry unwinds
Commodity currencies weaken, yen strengthens ahead of central bank meeting. European PMI data closely watched for rate cut expectations. Market reactions to Chinese demand, surprise rate cuts, and global economic indicators drive currency fluctuations. Traders prepare for potential shifts in major currency pairs.
Rupee nudges higher tracking Asian peers; India budget awaited
The Indian rupee rose to 83.6250 against the USD, mirroring gains in Asian currencies like the Korean won. Focus is on Modi's budget at 11:00 a.m., targeting a 5.1% fiscal deficit. The rupee hit a record low due to local importers' dollar demand. The dollar index is at 104.2, forward premiums 1.74%. Pabari expects stabilization within 83.40-83.70 range.
Aussie, kiwi dollars struggle on China's rate cuts; dollar adrift
Following China’s PBOC interest rate cuts, the Australian and New Zealand dollars declined, with limited fiscal easing noted by NAB's Rodrigo Catril. The euro, yen, and sterling saw minor changes, and bitcoin dropped to $67,665. The Trump trade unwound after Biden's election decision. Market attention shifts to U.S. and Japan central bank meetings and November election policy priorities.
Dollar climbs for the week, cyber outage unsettles investors
CrowdStrike's cyber outage impacted banks and airlines, raising the dollar index amid volatility. US economic data, Fed rate cut speculations, and Europe’s steady rates influenced currencies. Yen fluctuated due to BoJ interventions, UK retail sales drop, and Japanese inflation. Bitcoin and Ethereum gained. CME's FedWatch Tool aided market predictions. Analyst Michael Brown commented.
Dollar rises on retail sales boost
The dollar strengthened due to steady retail sales and unchanged import prices. The Dollar Index gained 0.07%. Sterling and the euro weakened ahead of the ECB meeting, anticipating Christine Lagarde's comments. Bitcoin rose 1.58%. Trevisani cited resilient ex-auto sales. The Canadian dollar strengthened. Powell noted inflation trends. Markets price in a September Federal Reserve rate cut.
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