Entries Tagged 'Forex' ↓

The rupee dips to an 8-month low against the dollar. The US currency rose on consistent demand from oil importers, while inflows from FIIs were not forthcoming.

The breach of the Rs 40.80 technical barrier led to some exporter cancellation. The RBI has refused to let the rupee appreciate as a tool to tame inflation. This will be a bit of releif for the exporters and the IT Companies as they have major financial dealings in the Rupee.

Rupee Strengthens today to close at Rs. 39.49 against the US Dollar. Rupee has hit 39.16 last month which is 10 years high against the US Dollar, but later shed its gains in the last 2 weeks based on the volatile markets and the Central bank’s intervention into the raising Rupee.

Indian Rupee has stayed almost steady from the previous close, the greenback closed at Rs. 39.79 against US Dollars and the Rupee has shed its gains from the past months lows.

Forex dealers have expressed that the Rupee would remain flat as the foreign money is caught mostly in the stock markets and they have expressed that central bank would intervene in to the matter.

Partially Convertible Rupee ended at 39.30 per dollar today, which was marginally lower than the Monday’s close of 39.31. Rupee was about to reach more highs, when the Central Bank bought more dollars through the day to ensure that the Rupee ended steady.

Rupee’s rise is controlled through out the day by the Central Bank by purchasing more dollars.

Indian Rupee has extended its gains further to close at Rs. 39.32 against the US Dollar at the Interbank Foreign Exchange market on Wednesday.

Pound Sterling has gained on the Indian Rupee and closed at Rs. 81.50 per pound.

US Dollar’s against the Indian Rupee is based on the Foreign Capital inflows in to the Indian Stock Markets which are raising to new highs day after day.

Rupee closed today at a all time high of Rs 39.27 against the US Dollar. Rupee previously closed at Rs 39.27 against the Dollar.

Rupee’s price was the highest since June 1998, the previous high being breached today marked by the high inflows in to the capital markets.

So far this year the Indian Rupee has appreciated more than 12 percent against the US dollar as global investors have moved heavily their investments to India, where the economy is growing about 9 percent annually and the stock market has been climbing to new highs day after day.

Rupee ended stronger against the US Dollar and the UK Pound Sterling, Rupee closed at Rs 39.445 against the US Dollar and the Rs 80.82 againss the Sterling Pound.

India Rupee recouped against the sterling to end at Rs 80.82 per pound from previous close of Rs 81.12, while the Rupee declined further against the European currency to Rs 56.64  from previous close of Rs 56.57 per euro.

The RBI has fixed the reference rate for the Dollar at Rs 39.51 and for the Euro at Rs 57.56.