The Rupee on Thursday May 23,2013 declined by a hefty 54 paise to trade at an
eight-and-a-half-month low of 56 at the Interbank Foreign Exchange
market on sustained dollar demand and strengthening of the US currency
overseas
The rupee fell to as low as 56.01 against US dollar, its lowest since September 6, 2012.
Yesterday, the rupee had lost five paise to close at 55.46, its lowest closing since November 27, 2012.
Rupee at 9-month low
The rupee on Wednesday May 29,2013 fell by 22 paise to trade at fresh nine-month low of 56.18 against the US dollar in early trade on the Interbank Foreign Exchange due to month-end demand for the US currency from importers and banks.
Resuming its downfall, the rupee on Tuesday sank by a whopping 90 paise to all-time closing low of 58.77 on massive dollar buying by banks and importers
The rupee closed at 58.77/78 per dollar compared to its previous lowest close of 58.39 recorded last week
Reason
The rupee saw a marginal recovery to end at Rs. 59.57, still down 87 paise or 1.48% over Wednesday’s close
The rupee had plunged to 60.76 intra-day on June 26,2013
The Rupee on Friday Aug 16,2013 after recovering by 10 paise in early trade dropped to all-time low of Rs. 62 per dollar(dropping past the previous low of 61.80 hit on August 6,2013)after opening at 61.35 despite measures initiated by the Reserve Bank of India (RBI) and the government to shore up the Indian currency
Note
The Reserve Bank on Wednesday Aug 14,2013 reduced the limit for overseas direct investment (ODI) by domestic companies, other than oil PSUs, under the automatic route from 400 per cent of net worth to 100 per cent to curb forex outflow. Oil India and ONGC Videsh are exempt from this limitation.
The rupee had lost 24 paise to close at an all-time low of Rs. 61.43 against the U.S. currency in the previous session on Wednesday Aug 14,2013
Rupee Vs US Dollar Thursday Aug 22,2013
The Rupee on Thursday Aug 22,2013 tumbled further and hit an all-time low of 65.12 against the US currency in the late morning trade on persistent dollar demand from banks and importers
The rupee resumed lower at 64.85 per dollar as against the Wednesday’s closing level of 64.11 per dollar at the Interbank Foreign Exchange Market and dropped further to an all-time low of 65.12 per dollar
The RBI which has been pointing fingers at the currency derivatives market as a speculative hub where the dollar rules higher, now argues that prices in those markets, or those driven by speculation, are beginning to influence spot dollar prices in terms of the rupee
The Reserve Bank recently banned proprietary trading by banks in the currency futures/exchange-traded currency options markets. Such trading is allowed only on behalf of clients
SEBI also tightened exposure norms for currency derivatives to check excessive speculation by increasing margin requirements and curtailing open positions on currency derivatives
The rupee resumed lower at 65.00 per dollar as against the last closing
level of 64.30 per dollar at the Forex Market and dropped further to a
historic low of 65.94 per dollar
The rupee fell to as low as 56.01 against US dollar, its lowest since September 6, 2012.
Yesterday, the rupee had lost five paise to close at 55.46, its lowest closing since November 27, 2012.
Rupee at 9-month low
The rupee on Wednesday May 29,2013 fell by 22 paise to trade at fresh nine-month low of 56.18 against the US dollar in early trade on the Interbank Foreign Exchange due to month-end demand for the US currency from importers and banks.
Rupee hits one-year low
Falling for the 4th day in a row, the rupee declined by 20 paise to hit one-year low of 56.58 against the dollar in early trade on May 31,2013 Friday at the Interbank Foreign Exchange on increased demand for the American currency from importers.
The rupee had lost 21 paise to end at new 10-month low of 56.38 against the dollar on Thursday May 30,2013
The partially convertible rupee was trading at 56.85/86 per dollar at 10.15 a.m., after earlier touching 57. The rupee closed at 56.7250/7350 on Wednesday June 5,2013
In the offshore non-deliverable forwards, the one-month contract was at 57.20, while the three-month was at 57.78
Rupee at historic low against dollar -Tuesday June 18,2013
The rupee recorded its lowest-ever close against the dollar on Tuesday, with a fall of 1.5 per cent, ahead of the U.S. Federal Reserve’s monetary policy meeting on Wednesday June 19,2013Resuming its downfall, the rupee on Tuesday sank by a whopping 90 paise to all-time closing low of 58.77 on massive dollar buying by banks and importers
The rupee closed at 58.77/78 per dollar compared to its previous lowest close of 58.39 recorded last week
Reason
- The widening current account deficit (CAD) continues to depress the value of the rupee
- The first four months of 2013 saw over $3.6 billion of inflows in the Indian debt segment and between May and June till date, over $3.5 billion has moved out. Such a sharp outflow within such a short period of time continues to pressure the rupee
Rupee ends at Rs. 59.57 - Thursday June 20,2013
At the Interbank Foreign Exchange (Forex) market, the domestic currency
commenced sharply lower at Rs. 59.50 a dollar from Wednesday’s close of
Rs. 58.70 and dipped further to log its all-time low of Rs. 59.93 as
market participants panicked after U.S. Federal Reserve chief Ben
Bernanke said $85 billion a month bond buying programme may be slowed
down from this year.
Rupee breaches 60-mark-Wednesday June 26,2013
The rupee on Wednesday June 26,2013 sank to an all-time low of 60.35
against the dollar in mid-session trade, dragged down by heavy
month-end demand for the US currency.
After a lower
start, the rupee plunged by 69 paise to 60.35 a dollar at 15:35 hrs on
the Inter-Bank Foreign Exchange market due to increased buying by banks
and oil importersThe rupee had plunged to 60.76 intra-day on June 26,2013
Rupee breaches 61 mark Monday July 8,2013
The rupee on Monday July 8,2013 fell by a massive 97 paise to 61.19, a new all-time
low, against the dollar in early trade at the Interbank Foreign Exchange
market, on heavy demand for the American currency amid capital outflows
Rupee drops to all-time record low of 61.51 vs dollar
The Indian rupee dropped to an all-time record low of 61.51 per dollar on Tuesday Aug 6,2013
in the late morning session on fresh dollar demand from banks and
importers amid weakness of dollar in the overseas market and fall in the
equity market.
The rupee resumed lower at 61.05 per dollar as against the last closing
level of 60.88 per dollar at the Interbank Foreign Exchange (Forex)
Market and dropped further to 61.51 per dollar before quoting at 61.43
at 1030 hrs.
The intra-day lowest of 61.21 was recorded on July 8, 2013.
Fresh dollar demand from banks and importers in view of fall in the
equity market mainly affected the rupee value against the dollarRupee Drops to an all-time low of 62 per dollar
The Rupee on Friday Aug 16,2013 after recovering by 10 paise in early trade dropped to all-time low of Rs. 62 per dollar(dropping past the previous low of 61.80 hit on August 6,2013)after opening at 61.35 despite measures initiated by the Reserve Bank of India (RBI) and the government to shore up the Indian currency
Note
The Reserve Bank on Wednesday Aug 14,2013 reduced the limit for overseas direct investment (ODI) by domestic companies, other than oil PSUs, under the automatic route from 400 per cent of net worth to 100 per cent to curb forex outflow. Oil India and ONGC Videsh are exempt from this limitation.
The rupee had lost 24 paise to close at an all-time low of Rs. 61.43 against the U.S. currency in the previous session on Wednesday Aug 14,2013
Rupee Vs US Dollar Thursday Aug 22,2013
The Rupee on Thursday Aug 22,2013 tumbled further and hit an all-time low of 65.12 against the US currency in the late morning trade on persistent dollar demand from banks and importers
The rupee resumed lower at 64.85 per dollar as against the Wednesday’s closing level of 64.11 per dollar at the Interbank Foreign Exchange Market and dropped further to an all-time low of 65.12 per dollar
Rupee Declines to Rs 65.94 Vs US Dollar Tuesday Aug 27,2013
The rupee declined to an all-time intra-day low of 65.94 per dollar on
Tuesday Aug 27,2013 on heavy month-end demand of the US currency from importers and
banks amid sharp fall in the local equity market.
It quoted 65.94 at 1300 hrs (IST) at the Interbank Foreign Exchange (Forex) Market and at close was Rs 66.24 per US Dollar.
The rupee plunged to a new record low of 68.75 per dollar in the late
morning trade on persistent dollar demand from banks and importers due
to further fall in equity market amid rise in crude oil prices
The rupee resumed lower at 66.90 per dollar, as against the Tuesday Aug 27,2013 closing
level of 66.24 per dollar at the forex market and dropped further to an
all-time low of 68.75 per dollar at 10.45 hrs (IST)
Forex dealers said besides strong month-end demand for the American
currency from importers, concerns related to subsidy burden after the
passage of Food Security Bill and capital outflows mainly weighed on the
domestic currency
The Rupee was more or less stable for much of the first half of 2013 and has depreciated
by 16 % or more vis-à-vis the dollar over the last two months
(see Chart)
The volume of trading in exchange-traded currency derivatives increased
from Rs. 2.6 billion in September 2008, when such trading was first
permitted, to Rs. 234.4 billion in June 2013, the RBI hints at a link
between this and exchange rate volatilityThe RBI which has been pointing fingers at the currency derivatives market as a speculative hub where the dollar rules higher, now argues that prices in those markets, or those driven by speculation, are beginning to influence spot dollar prices in terms of the rupee
The Reserve Bank recently banned proprietary trading by banks in the currency futures/exchange-traded currency options markets. Such trading is allowed only on behalf of clients
SEBI also tightened exposure norms for currency derivatives to check excessive speculation by increasing margin requirements and curtailing open positions on currency derivatives
Rupee Declines to Rs 68.75 Vs US Dollar Wednesday Aug 28,2013
The rupee plunged to a new record low of 68.75 per dollar in the late
morning trade on persistent dollar demand from banks and importers due
to further fall in equity market amid rise in crude oil prices
The rupee resumed lower at 66.90 per dollar, as against the Tuesday Aug 27,2013 closing
level of 66.24 per dollar at the forex market and dropped further to an
all-time low of 68.75 per dollar at 10.45 hrs (IST)
Forex dealers said besides strong month-end demand for the American
currency from importers, concerns related to subsidy burden after the
passage of Food Security Bill and capital outflows mainly weighed on the
domestic currency
Rupee Gains 225 paise per US Dollar Thursday Aug 29,2013
From a record low of 68.85 per dollar on Wednesday Aug 28,2013 when the currency posted its biggest single-day percentage fall since October 1995,the rupee rose as high as 66.85 per dollar shortly after the open and gained 3.46 % to close at 66.55/56 a dollar on Thursday Aug 29,2013
The Rupee recovery is partly due to the RBI stepping in to handle the dollar requirements of refiners instead of dealing with it in the spot market
Mirroring the turnaround in rupee, stock markets on Thursday Aug 29,2013 soared with the S&P BSE benchmark Sensex logging its best gain in a week of nearly 405 points to end at 18,401.04 on across-the-board buying after RBI opened a special window to help PSU oil firms meet daily forex needs
National Stock Exchange index Nifty rose by 124.05 points, or 2.35 per cent, to end at 5,409.05 led by stocks of refinery, metal and FMCG sectors on Thursday Aug 29,2013
Rupee Gains 85 paise per US Dollar Friday Aug 30,2013
Note -The Rupee closed at 63.38 against the dollar in Sep 18,2013 Wednesday’s trade.
Rupee Gains 225 paise per US Dollar Thursday Aug 29,2013
From a record low of 68.85 per dollar on Wednesday Aug 28,2013 when the currency posted its biggest single-day percentage fall since October 1995,the rupee rose as high as 66.85 per dollar shortly after the open and gained 3.46 % to close at 66.55/56 a dollar on Thursday Aug 29,2013
The Rupee recovery is partly due to the RBI stepping in to handle the dollar requirements of refiners instead of dealing with it in the spot market
Mirroring the turnaround in rupee, stock markets on Thursday Aug 29,2013 soared with the S&P BSE benchmark Sensex logging its best gain in a week of nearly 405 points to end at 18,401.04 on across-the-board buying after RBI opened a special window to help PSU oil firms meet daily forex needs
National Stock Exchange index Nifty rose by 124.05 points, or 2.35 per cent, to end at 5,409.05 led by stocks of refinery, metal and FMCG sectors on Thursday Aug 29,2013
Rupee Gains 85 paise per US Dollar Friday Aug 30,2013
The rupee regained some of its lost value against the dollar on Friday to close at 65.70/71 per dollar compared to its previous close of 66.55/56 on Thursday
The Reserve Bank of India (RBI) decision to allow the public sector oil marketing companies to approach a mandated bank for their foreign currency requirements on a currency swap basis helped the demand move away from the spot market
Tracking a rebound in the rupee’s value against the dollar, stock indices surged on Friday with the Bombay Stock Exchange (BSE) 30-share sensitive index (Sensex) gaining 218.68 points to close at 18619.72.
On National Stock Exchange (NSE), the 50-share Nifty closed at 5471.80, with a gain of 62.75 points
Rupee Gains 158 Paise/US Dollar to One Month High Thursday Sep 19,2013
The Rupee on Thursday Sep 19,2013 gained by 158 paise to trade at over one-month high of 61.80 against the dollar at the Interbank Foreign Exchange market on hopes of increased capital inflowsNote -The Rupee closed at 63.38 against the dollar in Sep 18,2013 Wednesday’s trade.
No comments:
Post a Comment