- Oct04By Jennifer Surane, Bloomberg
The dollar is looking down. Citigroup the top foreign-exchange trader by volume and one of the banks to correctly forecast a weaker-than-projected jobs report said Friday’s data
The rupee continued to gain ground against the dollar for the third consecutive session as large exporters, particularly from the IT sector, bunched their forward sales and increasing their hedge
- Sep24By Netty Idayu Ismail, Bloomberg
The dollar is overvalued and is unlikely to extend gains versus the euro and yen unless the Federal Reserve raises interest rates more than once, according to Amundi Asset Management, which oversees about $1 trillion.
- Sep21By PTI
The rupee gave up early losses, but was still trading down by 13 paise at 65.80 against the US currency in late-morning deals.
- Sep15By PTI
The rupee fell 5 paise to 66. 38 against the dollar in early trade on Tuesday due to fresh dollar demand from importers
- Sep14By PTI
The rupee recovered 14 paise to 66.40 against the dollar in early trade on Monday at the Interbank Foreign Exchange on fresh selling of the US currency by exporters and banks amid positive economic data.
The rupee hit a two-year low on Monday falling 36 paise (0.5 per cent) against the dollar to close at 66.82 against its previous close at 66.46.
China's foreign-exchange reserves fell by a record last month as the central bank sold dollars to support the yuan after the biggest devaluation in two decades spurred bets on continued weakness.
As the rupee touched a new 2-year low, State Bank chairperson Arundhati Bhattacharya on Monday said it must fall further to help domestic exporters.
The rupee plunged by 36 paise to close at 2-year low of 66.82 against the American currency on Monday on persistent dollar demand from banks and importers due to sustained foreign capital outflows amidst sharp fall in equity markets.
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