Foreign Institutional Investors (FIIs) were net buyers in the capital market on Friday as they purchased shares worth Rs 357.86 crore, according to exchange data. The 30-share BSE Sensex ended 114.92 points or 0.19 per cent higher at 59,106.44 points while the broader NSE Nifty advanced 38.30 points or 0.22 per cent to 17,398.05 points. RBI's rate-setting panel on Monday started its three-day meeting amid expectations that the central bank may go for a 25 basis points hike in benchmark interest rate, probably the last in the current monetary tightening cycle that began in May 2022. Investors are likely to remain cautious ahead of RBI's monetary policy decision and US jobs market report later this week. Speaking after the unveiling of Foreign Trade Policy (FTP) 2023 which seeks to increase India’s exports to USD 2 trillion by 2030, the secretary on Friday said the government is focusing on strengthening the rupee payment system. This may impact global economic recovery," Choudhary said. Recently, Commerce Secretary Sunil Barthwal said India is ready to trade in Indian rupee with countries which are 'facing currency failure or have dollar shortage'. "We expect Indian rupee to trade with a negative bias on a strong dollar and surge in crude oil prices. The S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose from 55.3 in February to 56.4 in March, signalling the strongest improvement in operating conditions in 2023 so far. The Pakistani rupee sank to 287.29 against the. However, upbeat macroeconomic data cushioned the downside," Choudhary said. The local unit, in the interbank market, closed at 287.29 against the US dollar, 0.78 per cent or 2.25, down from Monday’s close of 285.04. "Core PCE (Personal Consumption Expenditures) inflation showed cooling inflation in the US, raising expectations that the US Federal Reserve may be at the end of its rate hike cycle. Meanwhile, the decision of OPEC+ to cut crude oil production led to a sharp rise in global crude oil prices, renewing inflation concerns. According to Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, the rupee depreciated on the back of a strong dollar and weak domestic market. bond yields also firmed as St Louis Fed President James Bullard said that even on dovish assumptions, the funds rate needs to rise to at least 5-5.25% to curb inflation from 3.75%-4% currently.Global oil benchmark Brent crude futures advanced 5.28 per cent to $84.11 per barrel. The local unit, in the interbank market, closed at 287.29 against the US dollar, 0.78 per cent or 2.25, down from Mondays close of 285. The dollar index eased a bit, having taken support earlier from yet another Fed official dousing investors' expectations for a pause in rate hikes. Lower crude prices bode well for not only India, but most of Asia as a majority of them are oil-importing countries. Oil was steady at $90.4 in early Asian trade. The Pakistani rupee sank to 287. Live US Dollar Exchange Rates USD Interbank Rate 82.18: USD Buying Rate 82.42: USD Selling Rate 82.2592: USD Remittance Rate 82.79.
Us dollar to rupee free#
The rupee last traded in the 80-handle in mid-September.Īsian currencies were mostly higher as the onshore yuan rose on a firmer mid-point fix by the Chinese central bank, while regional stocks climbed.īrent crude futures plunged more than 3% overnight to slip under $90 per barrel on demand concerns due to mounting COVID-19 cases in China and fears of more aggressive U.S. BookMyForex provides free & live US Dollar to Indian Rupee conversion chart that allows you to check current trends and historical exchange rates for up to 12 months ×. He expects the rupee to weaken to 82 as soon as next week. When the pair fell near 80.5 on Monday, it became extremely attractive for importers to start covering after having been in a loss-making position for a while, Agarwal added. "Any dips in USD/INR are being bought out this week," said Ritesh Agarwal, head of treasury at CTBC Bank. There is persistent demand for dollars from oil importers and other corporates, said foreign exchange traders. The currency has declined 1% in volatile trade so far this week, giving back half its gains from last week in the wake of slightly soft U.S. The rupee was at 81.6650 per dollar, against its previous close of 81.65. The USD/INR 1-year implied yield is forecast to rise to 3 levels within fiscal 2024 from around 2.40 currently, according to market. The local unit, in the interbank market, closed at 287.29 against the US dollar, 0.78 per cent or 2.25, down from Mondays close of 285.04, Pakistans Geo News reported. interest rates are expected to ease later this year, bankers and analysts said.
MUMBAI, Nov 18 (Reuters) - The Indian rupee was little changed on Friday as the benefit from a plunge in oil prices was countered by continued corporate demand for the dollar. MUMBAI, March 29 (Reuters) - Indian foreign exchange traders are betting on a rise in dollar/rupee forward premiums as U.S.
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