Rupee down 4 paise to 63.29 against dollar in early trade
The rupee depreciated by four paise to 63.29 against the US dollar in early trade today at the Interbank Foreign Exchange on fresh demand for the American currency from banks and importers. Forex dealers said besides the dollar's gains against other Asian currencies, increased demand for the American unit from importers contributed to the rupee's weakness but a higher opening in domestic equities, capped the fall. The rupee had gained five paise to close at 63.25 against the dollar in yesterday's trade on fresh selling of the US currency by exporters amid bullish stocks. Meanwhile, the benchmark BSE Sensex rose by 49.46 points, or 0.18 per cent, to 27,751.25 in early trade today.
Rupee weakens further to 63.41 on month-end dollar demand from oil firms
Rupee was trading higher at 63.4175/4250 vs Monday's close of 63.24/25. Month-end dollar demand from oil companies fueled gains.Dollar rose on expectations of a rate hike by US Fed sometime next year.Pair was seen in 63.25 to 63.45 range during the day.
Asian currencies slip as dollar retains its firm tone
Most emerging Asian currencies edged lower on Tuesday, pressured by the dollar's firm tone, with the Taiwan dollar touching a fresh four-year low due partly to US dollar buying by local importers. The Malaysian ringgit slipped and came within sight of a five-year low of 3.5040 versus the dollar set earlier this month, retreating after oil prices fell the previous day. Worries that lower oil prices may hurt the economic fundamentals of Malaysia, a net oil exporter, have added to the recent weakness of the ringgit. The Taiwan dollar, which has been stuck at four-year lows this month, extended its recent losses and slipped to 31.669 versus the dollar, its lowest level since September 2010. Pressuring the Taiwan dollar was demand by local oil importers for the US dollar. Some market participants, however, booked profits in long US dollar positions, helping to slow the Taiwan dollar's fall.
Worries that local exporters were losing competitiveness because of the weakness of the Japanese yen, which slid to a seven-year low against the US dollar earlier in December, have weighed on the Taiwan dollar recently. The US dollar's broadly firm tone had an impact on emerging Asian currencies, market participants said. "There is nothing on the horizon to challenge the idea of US dollar moving higher," a trader for a Malaysian bank in Kuala Lumpur said about the near-term outlook for Asian currencies. Against a basket of major currencies, the greenback this week touched its highest level in nearly nine years, supported by market expectations the US Federal Reserve will
raise interest rates sometime next year.
The rupee depreciated by four paise to 63.29 against the US dollar in early trade today at the Interbank Foreign Exchange on fresh demand for the American currency from banks and importers. Forex dealers said besides the dollar's gains against other Asian currencies, increased demand for the American unit from importers contributed to the rupee's weakness but a higher opening in domestic equities, capped the fall. The rupee had gained five paise to close at 63.25 against the dollar in yesterday's trade on fresh selling of the US currency by exporters amid bullish stocks. Meanwhile, the benchmark BSE Sensex rose by 49.46 points, or 0.18 per cent, to 27,751.25 in early trade today.
Rupee weakens further to 63.41 on month-end dollar demand from oil firms
Rupee was trading higher at 63.4175/4250 vs Monday's close of 63.24/25. Month-end dollar demand from oil companies fueled gains.Dollar rose on expectations of a rate hike by US Fed sometime next year.Pair was seen in 63.25 to 63.45 range during the day.
Most emerging Asian currencies edged lower on Tuesday, pressured by the dollar's firm tone, with the Taiwan dollar touching a fresh four-year low due partly to US dollar buying by local importers. The Malaysian ringgit slipped and came within sight of a five-year low of 3.5040 versus the dollar set earlier this month, retreating after oil prices fell the previous day. Worries that lower oil prices may hurt the economic fundamentals of Malaysia, a net oil exporter, have added to the recent weakness of the ringgit. The Taiwan dollar, which has been stuck at four-year lows this month, extended its recent losses and slipped to 31.669 versus the dollar, its lowest level since September 2010. Pressuring the Taiwan dollar was demand by local oil importers for the US dollar. Some market participants, however, booked profits in long US dollar positions, helping to slow the Taiwan dollar's fall.
Worries that local exporters were losing competitiveness because of the weakness of the Japanese yen, which slid to a seven-year low against the US dollar earlier in December, have weighed on the Taiwan dollar recently. The US dollar's broadly firm tone had an impact on emerging Asian currencies, market participants said. "There is nothing on the horizon to challenge the idea of US dollar moving higher," a trader for a Malaysian bank in Kuala Lumpur said about the near-term outlook for Asian currencies. Against a basket of major currencies, the greenback this week touched its highest level in nearly nine years, supported by market expectations the US Federal Reserve will
raise interest rates sometime next year.
Research
Via
is a leading financial advisory provides free tips on Indian share
market like Stock
Options Tips, Stock
Option Tips, nifty
options calls, Nifty
Option Tips, Nifty
options tips, Equity
tips, mcx
Gold tips, Free
Ncdex Tips, comex
tips.
No comments:
Post a Comment