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USD (USD)
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- 4198.50
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Related Forex News
Rupee rises 9 paise to 83.88 against US dollar in early trade
Aug 29, 2024, 10:26AM ISTThe rupee appreciated by 9 paise to 83.88 against the US dollar amid a weakening American currency and positive domestic equities. Traders are eyeing US GDP and PCE inflation data, which could influence the Federal Reserve's rate cut decision in September. The dollar index dropped, and the BSE Sensex and Nifty showed gains.
Rupee falls 2 paise to 83.95 against US dollar in early trade
Aug 28, 2024, 10:13AM ISTThe rupee has depreciated by 2 paise to 83.95 against the US dollar, influenced by a muted trend in domestic equities. Forex experts note that the rupee's downside appears capped, possibly due to Reserve Bank of India's intervention. The dollar index and Brent crude prices saw minor gains, while domestic equity markets experienced slight declines.
Rupee falls 8 paise to 83.95 against US dollar in early trade
Aug 27, 2024, 10:08AM ISTThe rupee fell by 8 paise to 83.95 against the US dollar due to elevated crude oil prices and a weak domestic equity market. Brent Crude remained above USD 80 per barrel amid geopolitical tensions. The Reserve Bank's active market interventions have bolstered India's forex reserves by nearly USD 5 billion, providing some stability.
Spurt in travel spurs credit card spends overseas
Aug 27, 2024, 12:13AM ISTOverseas credit card spending has surged significantly, outpacing increases in prepaid payment instruments (PPIs) and debit cards over the past two years. This growth is attributed to a rebound in travel post-COVID-19 and attractive rewards offered by credit card issuers, despite higher taxes on international credit card transactions under the Liberalised Remittance Scheme.
India's Forex reserves increase by $4.54 bn to $674.66 bn as of August 16
Aug 23, 2024, 05:11PM ISTIndia's Forex reserves saw an increase of $4.54 billion to reach $674.66 billion as of August 16, according to the RBI. Foreign currency assets (FCAs) grew by $3.61 billion to $591.57 billion, while gold reserves surged by $865 million to $601.04 billion. SDRs rose by $60 million to $18.34 billion, and the Reserve position in the IMF increased by $12 million to $4.65 billion.
GIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session
Aug 22, 2024, 07:04AM ISTNifty gained 71 points to close at 24770 on Wednesday. Attention is on Fed Chair Powell's Friday speech at the Jackson Hole Symposium. Hopes for rate cuts are driving market sentiment, which is likely to consolidate this week. India VIX fell by 3.53% to 13.33 levels.
Rupee falls 7 paise to 83.84 against US dollar in early trade
Aug 21, 2024, 09:57AM ISTThe Indian rupee fell by 7 paise to 83.84 against the US dollar driven by weak equity markets and foreign capital outflows. Factors like a weaker dollar and lower crude prices offered some relief. The rupee had previously closed at 83.77, gaining 10 paise amid market fluctuations.
Rupee turns flat at 83.87 against US dollar in early trade
Aug 20, 2024, 09:56AM ISTThe Indian rupee stabilized at 83.87 against the US dollar after initial gains, influenced by strong domestic equity markets and a weak dollar, offset by foreign capital outflows. Declining crude oil prices provided support. Investors were cautious ahead of US PMI data and Federal Reserve Chair Jerome Powell's speech for hints on rate cuts.
India’s remittance tax under LRS is a regressive step that threatens liberalisation gains, writes Urjit Patel
Aug 19, 2024, 11:19PM ISTRecent introduction of a transfer tax on remittances complicates the legacy of liberalisation. The tax, potentially an attempt to conserve forex or curb tax evasion, may inadvertently fuel economic distortions and undermine investor confidence. Critics argue the measure could discourage legal forex transactions and foster a dual exchange rate market. The author calls for reevaluating the tax to sustain confidence in India's liberal economic policies.
RBI sold net $2.11 bln in spot forex market in June, bulletin shows
Aug 19, 2024, 05:59PM ISTThe Reserve Bank of India (RBI) sold $2.11 billion on a net basis in the spot foreign exchange market in June, data released on Monday as part of the central bank's monthly bulletin showed.
