Foreign Exchange News
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
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
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
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
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
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.
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
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.
The CAD increased from $6.9 billion or 1.1 percent of GDP in the second quarter of 2017-18.
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
In 2017-18, the exports stood at $76 billion. The sector accounts for about 25 percent of the country's total merchandise exports.
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.
Traders said the selling of the US currency by exporters and foreign fund inflows were the other factors that provided support to the rupee
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
Forex dealers said bullish trend in the equity market as well as easing crude oil prices supported the rupee's upward movement.
Rupee snaps three-session gaining streak, slumps 26 paise to 73.83 against US dollar on rising crude prices
Dealers said a spurt in US dollar demand from importers dragged down the rupee
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
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'.
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
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.