Foreign Exchange

Foreign Exchange News

Gold imports increase 54% to $3.97 bn in April; trade deficit widens to five-month high amid concerns of CAD
Business

Gold imports increase 54% to $3.97 bn in April; trade deficit widens to five-month high amid concerns of CAD

India is the largest importer of gold, which mainly caters to the demand of the jewellery industry.

Rupee slips 32 paise to 69.24 against dollar in early trade on increased demand for greenback from importers and banks
Business

Rupee slips 32 paise to 69.24 against dollar in early trade on increased demand for greenback from importers and banks

At the Interbank Foreign Exchange, the rupee opened on a weak note at 69.04 then fell further to 69.24 against the US dollar

Rupee gains 13 paise to close at 71.18 against dollar on easing crude oil prices
Business

Rupee gains 13 paise to close at 71.18 against dollar on easing crude oil prices

The rupee strengthened by 13 paise to close at 71.18 against the US dollar Monday on easing crude oil prices, even as the greenback strengthened vis-a-vis other major currencies

Rupee ends steady at 71.12 against dollar; focus on US Fed policy outcome, Union Budget
Business

Rupee ends steady at 71.12 against dollar; focus on US Fed policy outcome, Union Budget

The rupee on Wednesday ended almost flat at 71.12 against the US dollar as forex traders preferred to sit on the fence while awaiting cues from key upcoming events like US Fed policy and India's Union Budget

Rupee dips 9 paise to 71.28 against dollar amid rise in demand for greenback from exporters
Business

Rupee dips 9 paise to 71.28 against dollar amid rise in demand for greenback from exporters

The rupee on Monday weakened by 9 paise to close at 71.28 against the US dollar amid rise in demand for the greenback from exporters and unabated foreign fund outflows

Rupee logs best single day gain in over five years, vaults 112 paise to close at 70.44 against dollar as crude oil prices slide
Business

Rupee logs best single day gain in over five years, vaults 112 paise to close at 70.44 against dollar as crude oil prices slide

The Indian rupee on Tuesday rallied by a whopping 112 paise, its best single-day gains in over five years, to settle at 70.44 against the US dollar as softening crude oil prices eased concerns over India's current account deficit expansion.

Rupee skids 22 paise to close at 71.90 amid strengthening of the US dollar
Business

Rupee skids 22 paise to close at 71.90 amid strengthening of the US dollar

The rupee declined by 22 paise to close at 71.90 against the US dollar on Friday amid strengthening of the greenback and cautious trading in the domestic equity market.

Rupee snaps 3-day losing streak, settles 33 paise higher at 71.68 against dollar as oil prices softens
Business

Rupee snaps 3-day losing streak, settles 33 paise higher at 71.68 against dollar as oil prices softens

At the Interbank Foreign Exchange (forex), the rupee opened on a firm note at 71.70 against the US dollar and surged further to touch a high of 71.51 during the day. The local unit finally ended at 71.68, higher by 33 paise over its previous closing price.

CAD widens to 2.9% of GDP during Q2 on large trade deficit; net services receipts increase by 10.2%
Business

CAD widens to 2.9% of GDP during Q2 on large trade deficit; net services receipts increase by 10.2%

The CAD increased from $6.9 billion or 1.1 percent of GDP in the second quarter of 2017-18.

Rupee strengthens: Currency rises 46 paise to 70.44 against US dollar in early trade
Business

Rupee strengthens: Currency rises 46 paise to 70.44 against US dollar in early trade

At the interbank forex market, the rupee opened higher at 70.58 and rose further to quote at 70.44, showing a rise of 46 paise over its previous close.

Engineering exports likely to touch $80 billion this fiscal on healthy growth in major markets: EEPC
Business

Engineering exports likely to touch $80 billion this fiscal on healthy growth in major markets: EEPC

In 2017-18, the exports stood at $76 billion. The sector accounts for about 25 percent of the country's total merchandise exports.

Rupee jumps 36 paise to close at 72.31 against dollar on crude oil prices cool-off
Business

Rupee jumps 36 paise to close at 72.31 against dollar on crude oil prices cool-off

At the interbank forex market, the rupee commenced with strength at 72.18 and appreciated further to 71.99 against the US dollar in intra-day trade.

Rupee jumps 29 paise against US dollar to 73.32 on selling of American currency by exporters, banks
Business

Rupee jumps 29 paise against US dollar to 73.32 on selling of American currency by exporters, banks

Traders said the selling of the US currency by exporters and foreign fund inflows were the other factors that provided support to the rupee

Rupee skids 13 paise to close at 73.61 against US dollar amid steady capital outflows
Business

Rupee skids 13 paise to close at 73.61 against US dollar amid steady capital outflows

The rupee surrendered all the gains made during the day and settled 13 paise lower at 73.61 against the US dollar on Wednesday amid steady capital outflows and strengthening of the American currency.

Rupee spurts 35 paise to close at nearly two-week high of 73.48 per US dollar on easing crude prices
Business

Rupee spurts 35 paise to close at nearly two-week high of 73.48 per US dollar on easing crude prices

Forex dealers said bullish trend in the equity market as well as easing crude oil prices supported the rupee's upward movement.

Rupee recovers after slumping to record low of 74.50 against US dollar, up 9 paise to close at 74.12
Business

Rupee recovers after slumping to record low of 74.50 against US dollar, up 9 paise to close at 74.12

Softening crude oil prices and the US dollar weakening against other currencies provided support to the rupee, brokers said

Rahul Gandhi and his allies' tweets, TV bytes will not resolve challenges thrown up by increase in crude oil prices: Arun Jaitley
India

Rahul Gandhi and his allies' tweets, TV bytes will not resolve challenges thrown up by increase in crude oil prices: Arun Jaitley

Jaitley accused the government critics of doing a 'volte-face' by terming the cut in petrol and diesel prices by Rs 2.5 per litre by the Centre as 'bad economics'.

Rupee crashes below record 73-mark, ends lower by 43 paise against US currency as oil prices spike
Business

Rupee crashes below record 73-mark, ends lower by 43 paise against US currency as oil prices spike

In the day trade, the rupee crashed to its all-time low of 73.42 per dollar as crude oil prices breached the $85 per barrel mark, leading to huge outflows of cash.

Rupee firms up by 24 paise to 71.75 against US currency in morning deals on dollar selling by banks, exporters
Business

Rupee firms up by 24 paise to 71.75 against US currency in morning deals on dollar selling by banks, exporters

The rupee was trading higher by 24 paise to 71.75 against the US currency in late morning deals on Friday due to sustained bouts of dollar selling from banks and exporters.