The Indian rupee pared most of an early fall to one-week lows on Friday, recovering on expectations of continued capital inflows after the Group of 20 leaders said stimulus measures would continue until recovery was secured.
The partially convertible rupee INR=IN ended at 47.97/98 per dollar, off an early low of 48.31, its weakest since Sept. 16. The rupee had ended at 47.95/96 on Thursday. It touched an intraday high 47.92 during the session, not far from a six-week of 47.85 hit earlier this week.
"The assurances at G20 was a respite for the rupee, which had remained pressured by volatile stocks," said a senior dealer with a foreign bank. more details : http://marketmantra.in/Currency.asp
Sunday, September 27, 2009
Indian rupee to drop as Asian shares extend slide
The rupee may weaken on Friday if local shares follow the lead of lower Asian stocks, with month-end demand for dollars from oil importers pushing down the Indian unit further.
* The dollar rallied broadly on Friday as short-covering gathered pace a day after major central banks jointly announced steps to scale back massive injections of the U.S. currency. [USD/]. The dollar's rebound could also add to the rupee's downward pressure.
* At 8:36 a.m. (0306 GMT), Nifty India stock futures traded in Singapore SINc1 were down 1.3 percent. The Morgan Stanley index excluding Japan .MIAPJ0000PUS was down 0.9 percent.
* The partially convertible rupee INR=IN ended at 47.95/96 per dollar on Thursday, a touch stronger than Wednesday's close of 47.98/48.00, after falling to a low of 48.20 in early deals. more details : http://marketmantra.in/Currency.asp
* The dollar rallied broadly on Friday as short-covering gathered pace a day after major central banks jointly announced steps to scale back massive injections of the U.S. currency. [USD/]. The dollar's rebound could also add to the rupee's downward pressure.
* At 8:36 a.m. (0306 GMT), Nifty India stock futures traded in Singapore SINc1 were down 1.3 percent. The Morgan Stanley index excluding Japan .MIAPJ0000PUS was down 0.9 percent.
* The partially convertible rupee INR=IN ended at 47.95/96 per dollar on Thursday, a touch stronger than Wednesday's close of 47.98/48.00, after falling to a low of 48.20 in early deals. more details : http://marketmantra.in/Currency.asp
Indian rupee weaker tracking regional shares
The Indian rupee fell on Thursday dragged by losses in regional share markets and the dollar's strength against major currencies.
* At 1:50 a.m. the partially convertible rupee INR=IN was at 48.10/1150 per dollar, weaker than Wednesday's close of 47.98/48.00. It fell to a low of 48.20 in early deals.
* Indian shares fell as much as 1.3 percent on Thursday as sentiment was hit by losses in global markets, with the expiry of monthly derivatives contract keeping trade volatile. [.BO]
* The MSCI's measure of Asian markets excluding Japan .MSCIAPJ was down 1.19 percent.
* The dollar index .DXY, which measures the dollar's value against a basket of six major currencies, was up 0.37 percent at 76.331. more details : http://marketmantra.in/Currency.asp
* At 1:50 a.m. the partially convertible rupee INR=IN was at 48.10/1150 per dollar, weaker than Wednesday's close of 47.98/48.00. It fell to a low of 48.20 in early deals.
* Indian shares fell as much as 1.3 percent on Thursday as sentiment was hit by losses in global markets, with the expiry of monthly derivatives contract keeping trade volatile. [.BO]
* The MSCI's measure of Asian markets excluding Japan .MSCIAPJ was down 1.19 percent.
* The dollar index .DXY, which measures the dollar's value against a basket of six major currencies, was up 0.37 percent at 76.331. more details : http://marketmantra.in/Currency.asp
more details : http://marketmantra.in/Currency.asp
The Indian rupee fell on Thursday dragged by losses in regional share markets and the dollar's strength against major currencies.
* At 1:50 a.m. the partially convertible rupee INR=IN was at 48.10/1150 per dollar, weaker than Wednesday's close of 47.98/48.00. It fell to a low of 48.20 in early deals.
* Indian shares fell as much as 1.3 percent on Thursday as sentiment was hit by losses in global markets, with the expiry of monthly derivatives contract keeping trade volatile. [.BO]
* The MSCI's measure of Asian markets excluding Japan .MSCIAPJ was down 1.19 percent.
* The dollar index .DXY, which measures the dollar's value against a basket of six major currencies, was up 0.37 percent at 76.331. (Reporting by Neha D'silva. more details : http://marketmantra.in/Currency.asp
* At 1:50 a.m. the partially convertible rupee INR=IN was at 48.10/1150 per dollar, weaker than Wednesday's close of 47.98/48.00. It fell to a low of 48.20 in early deals.
* Indian shares fell as much as 1.3 percent on Thursday as sentiment was hit by losses in global markets, with the expiry of monthly derivatives contract keeping trade volatile. [.BO]
* The MSCI's measure of Asian markets excluding Japan .MSCIAPJ was down 1.19 percent.
* The dollar index .DXY, which measures the dollar's value against a basket of six major currencies, was up 0.37 percent at 76.331. (Reporting by Neha D'silva. more details : http://marketmantra.in/Currency.asp
Indian rupee at 6-week highs as dollar weakens
The Indian rupee rose to a six-week high on Wednesday as the dollar fell to a one-year low against a basket of currencies and as some gains in Asian shares raised hopes of further foreign fund inflows.
At 10:28 a.m. (0458 GMT), the partially convertible rupee INR=IN was at 47.91/92 per dollar, stronger than Tuesday's close of 47.9550/9650.
In early deals the rupee hit 47.85, its highest since Aug. 10.
"The rupee is tracking the crosses and also equities," said V. Kumar, chief dealer with State Bank of Travancore, who said 47.80 was an important technical level.
"Once 47.80 breaks, 47.50-47.20 should be the range for this week," he said.
The low-yielding dollar fell to a one-year low against a basket of currencies on Wednesday as speculators dumped it ahead of a Federal Reserve policy announcement later in the day. [USD/]
Expectations are growing that the Fed will reiterate its intention to keep a super-accommodative policy for an extended period more details : http://marketmantra.in/Currency.asp
At 10:28 a.m. (0458 GMT), the partially convertible rupee INR=IN was at 47.91/92 per dollar, stronger than Tuesday's close of 47.9550/9650.
In early deals the rupee hit 47.85, its highest since Aug. 10.
"The rupee is tracking the crosses and also equities," said V. Kumar, chief dealer with State Bank of Travancore, who said 47.80 was an important technical level.
"Once 47.80 breaks, 47.50-47.20 should be the range for this week," he said.
The low-yielding dollar fell to a one-year low against a basket of currencies on Wednesday as speculators dumped it ahead of a Federal Reserve policy announcement later in the day. [USD/]
Expectations are growing that the Fed will reiterate its intention to keep a super-accommodative policy for an extended period more details : http://marketmantra.in/Currency.asp
Indian rupee flat on stocks rise, oil payments
The Indian rupee was flat on Tuesday as a rise in the stock market to fresh 16-month highs was offset by oil companies buying dollars to pay for their imports.
At 11:07 a.m. (0537 GMT), the partially convertible rupee INR=IN was at 48.17/18, not far from Friday's close of 48.13/48.14. The market was closed on Monday for a holiday.
The rupee touched a low of 48.22 in early deals
"There was a sharp rise in the dollar in early deals due to some oil companies buying, but selling by some foreign banks limited the dollar's rise," said Naveen Raghuvanshi, an associate vice president with Development Credit Bank who expects the rupee to trade a 48.10-48.25 range during the day.
Indian shares were up 0.8 percent in morning trade, extending last week's 16-month highs on hopes of strong quarterly earnings.
Traders expect there could be some dollar buying this week as unsuccessful applications for the Oil India initial public offering are refunded. The company raised $570 million in the offer, which was covered nearly 31 times http://marketmantra.in/Currency.asp
At 11:07 a.m. (0537 GMT), the partially convertible rupee INR=IN was at 48.17/18, not far from Friday's close of 48.13/48.14. The market was closed on Monday for a holiday.
The rupee touched a low of 48.22 in early deals
"There was a sharp rise in the dollar in early deals due to some oil companies buying, but selling by some foreign banks limited the dollar's rise," said Naveen Raghuvanshi, an associate vice president with Development Credit Bank who expects the rupee to trade a 48.10-48.25 range during the day.
Indian shares were up 0.8 percent in morning trade, extending last week's 16-month highs on hopes of strong quarterly earnings.
Traders expect there could be some dollar buying this week as unsuccessful applications for the Oil India initial public offering are refunded. The company raised $570 million in the offer, which was covered nearly 31 times http://marketmantra.in/Currency.asp
Indian rupee seen steady, watch stocks for cues
The Indian rupee is expected to be steady on Tuesday as local shares are seen trading rangebound, in line with Asian markets.
* At 8:40 a.m. (0310 GMT), Nifty India stock futures traded in Singapore SINc1 were down 0.3 percent. The Morgan Stanley index excluding Japan .MIAPJ0000PUS was up 0.6 percent.
* One-month offshore non-deliverable forward rupee contracts PNDF traded in Singapore were quoted at 48.17/48.27 per dollar.
* The index of the dollar's .DXY versus six majors was down 0.3 percent.
* U.S. crude prices rose towards $70 a barrel on Tuesday, after a sharp decline in the previous session on renewed concerns about ongoing weakness in energy demand. [O/R].
* The partially convertible rupee INR=IN ended at 48.13/48.14 per dollar on Friday, a shade above Thursday's close of 48.15/16. The market was closed on Monday for a public holiday. http://marketmantra.in/Currency.asp
* At 8:40 a.m. (0310 GMT), Nifty India stock futures traded in Singapore SINc1 were down 0.3 percent. The Morgan Stanley index excluding Japan .MIAPJ0000PUS was up 0.6 percent.
* One-month offshore non-deliverable forward rupee contracts PNDF traded in Singapore were quoted at 48.17/48.27 per dollar.
* The index of the dollar's .DXY versus six majors was down 0.3 percent.
* U.S. crude prices rose towards $70 a barrel on Tuesday, after a sharp decline in the previous session on renewed concerns about ongoing weakness in energy demand. [O/R].
* The partially convertible rupee INR=IN ended at 48.13/48.14 per dollar on Friday, a shade above Thursday's close of 48.15/16. The market was closed on Monday for a public holiday. http://marketmantra.in/Currency.asp
Indian rupee recovers early loss; tracks choppy stocks
The Indian rupee recovered early losses on Friday afternoon but still traded weaker than the previous close, tracking local share prices.
* At 2:55 p.m., the partially convertible rupee INR=IN was at 48.05/06 per dollar, off an early low of 48.31, its lowest since Sept. 16, but still weaker than Thursday's close of 47.95/96.
* Share prices were trading 0.6 percent weaker. The main share index .BSESN had fallen as much as 0.97 percent in the opening deals, and had briefly turned positive.
* The rupee hit an intraday high of 47.92 per dollar when the shares had turned briefly positive.
* In the currency futures market INRFUTURES the most traded near-month contracts were at 48.1625 on the National Stock Exchange and MCX-SX, weaker than Thursday's close of 48.0850. more details : http://marketmantra.in/Currency.asp
* At 2:55 p.m., the partially convertible rupee INR=IN was at 48.05/06 per dollar, off an early low of 48.31, its lowest since Sept. 16, but still weaker than Thursday's close of 47.95/96.
* Share prices were trading 0.6 percent weaker. The main share index .BSESN had fallen as much as 0.97 percent in the opening deals, and had briefly turned positive.
* The rupee hit an intraday high of 47.92 per dollar when the shares had turned briefly positive.
* In the currency futures market INRFUTURES the most traded near-month contracts were at 48.1625 on the National Stock Exchange and MCX-SX, weaker than Thursday's close of 48.0850. more details : http://marketmantra.in/Currency.asp
Indian rupee weaker tracking regional shares
The Indian rupee recovered early losses on Friday afternoon but still traded weaker than the previous close, tracking local share prices.
* At 2:55 p.m., the partially convertible rupee INR=IN was at 48.05/06 per dollar, off an early low of 48.31, its lowest since Sept. 16, but still weaker than Thursday's close of 47.95/96.
* Share prices were trading 0.6 percent weaker. The main share index .BSESN had fallen as much as 0.97 percent in the opening deals, and had briefly turned positive.
* The rupee hit an intraday high of 47.92 per dollar when the shares had turned briefly positive.
* In the currency futures market INRFUTURES the most traded near-month contracts were at 48.1625 on the National Stock Exchange and MCX-SX, weaker than Thursday's close of 48.0850. (Reporting by Anurag Joshi; Editing by Ramya Venugopal) more details : http://marketmantra.in/Currency.asp
* At 2:55 p.m., the partially convertible rupee INR=IN was at 48.05/06 per dollar, off an early low of 48.31, its lowest since Sept. 16, but still weaker than Thursday's close of 47.95/96.
* Share prices were trading 0.6 percent weaker. The main share index .BSESN had fallen as much as 0.97 percent in the opening deals, and had briefly turned positive.
* The rupee hit an intraday high of 47.92 per dollar when the shares had turned briefly positive.
* In the currency futures market INRFUTURES the most traded near-month contracts were at 48.1625 on the National Stock Exchange and MCX-SX, weaker than Thursday's close of 48.0850. (Reporting by Anurag Joshi; Editing by Ramya Venugopal) more details : http://marketmantra.in/Currency.asp
Indian rupee to drop as Asian shares extend slide
The rupee may weaken on Friday if local shares follow the lead of lower Asian stocks, with month-end demand for dollars from oil importers pushing down the Indian unit further.
* The dollar rallied broadly on Friday as short-covering gathered pace a day after major central banks jointly announced steps to scale back massive injections of the U.S. currency. [USD/]. The dollar's rebound could also add to the rupee's downward pressure.
* At 8:36 a.m. (0306 GMT), Nifty India stock futures traded in Singapore SINc1 were down 1.3 percent. The Morgan Stanley index excluding Japan .MIAPJ0000PUS was down 0.9 percent.
* The partially convertible rupee INR=IN ended at 47.95/96 per dollar on Thursday, a touch stronger than Wednesday's close of 47.98/48.00, after falling to a low of 48.20 in early deals.http://marketmantra.in/Currency.asp
* The dollar rallied broadly on Friday as short-covering gathered pace a day after major central banks jointly announced steps to scale back massive injections of the U.S. currency. [USD/]. The dollar's rebound could also add to the rupee's downward pressure.
* At 8:36 a.m. (0306 GMT), Nifty India stock futures traded in Singapore SINc1 were down 1.3 percent. The Morgan Stanley index excluding Japan .MIAPJ0000PUS was down 0.9 percent.
* The partially convertible rupee INR=IN ended at 47.95/96 per dollar on Thursday, a touch stronger than Wednesday's close of 47.98/48.00, after falling to a low of 48.20 in early deals.http://marketmantra.in/Currency.asp
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