Tag: Forex

global crude prices

The rupee rose 5 paise to 77.52 against the dollar, as local equities continued to rise

In early trade on Wednesday, the rupee rose 5 paise to 77.52 against the US dollar, as a robust trend in local equities improved investor spirits. However, forex traders claimed that rising global crude prices and continuing foreign capital outflows restricted the local currency’s appreciation bias. The rupee opened at 77.54 against the dollar on the interbank foreign exchange, then…

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global interest rates

Bank of Baroda expects ECB inflows to reduce as interest rates rise and the currency depreciates

According to Bank of Baroda, corporate India’s offshore fundraising through external commercial borrowings (ECBs) may reduce in the coming months as monetary policy tightens and the rupee continues to depreciate. ECBs have become a significant source of funding for businesses, including public sector entities. In reality, as of the end of December 2021, ECBs amounted for 36.8% of India’s external…

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Consumer Price Index (CPI)

The dollar takes a break as US yields drop ahead of CPI

The US dollar’s rally came to a halt as the DXY index dropped to 103.5 before the release of April’s US Consumer Price Index (CPI) numbers, while Treasury yields fell as investors switched away from a turbulent stock market amid fears about global growth and a potential inflation peak. The Japanese yen (JPY) and Swiss franc (CHF), the top laggards…

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Indian rupee

Rupee falls to a new low of 77.58 against the US dollar

The Indian rupee fell to a new record low against the US dollar on Thursday, echoing losses across Asian rivals. The drop in global and local shares following the US inflation report pointed at more aggressive Fed tightening amid deteriorating investor confidence hit down by global economic slowdown. The currency began trading at 77.56 per dollar and fell to a…

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