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Tag: Crude oil

  • The rupee falls to an all-time low of 77.74 per dollar

    The rupee falls to an all-time low of 77.74 per dollar

    The rupee fell to a new all-time low against the US dollar on Wednesday, ending at 77.74, slightly lower than its previous close of Despite continued foreign capital outflows and higher global crude oil prices, the local currency traded in a limited range The previous low was set on May 19, when it closed at 77.73 against the dollar, but it had hit 77.80 levels during intraday trade on May 17 USD-INR volatility may continue to be minimal. Anindya Banerjee, the vice-president, of currency options & interest rate derivatives, Kotak Securities, stated, “A range of 77.40 to 78.00 remains in play in the short term.





    Bond prices climbed following the Reserve Bank of India’s monetary policy committraiseding the policy repo rate by 50 basis points bps in line with market expectations.

    and keeping the status quo on banks cash reserve requirements. The three-year government bond rate fell 9 basis points, while the five-year bond yield fell 7 basis points. The four-year paper’s yield fell 8 basis points According to statistics from the the yield on 10-year government bonds (6.54 percent 2032) was 7.51 percent at the start and 7.49 percent at the close Given the high level of inflation, the market has priced in the magnitude of the repo rate rise. Bond rates are projected to fluctuate in a range for the time being, according to dealers and experts The RBI governor has previously stated that a rate hike was a ‘no brainer,’ according to Madan Sabnavis, chief economist of Bank of Baroda. “As a result, the 10-year yield was largely constant between 7.47 and 7.5 percent under the present regime.” In the short run, the yield on 10-year paper is projected to remain range-bound,” he added. As the RBI works toward a more controlled drawdown of liquidity, the yield might rise to 7.75-8%, he noted.

  • The Rupee Rose 5 Paise To 77.52 Against The Dollar, As Local Equities Continued To Rise

    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 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 climbed to 77.52, up 5 paise from the previous close. Early on, it was trading in a tight range of 77.54 to 77.51 The rupee had previously finished at 77.57 per dollar in the previous session. The dollar index, which measures the strength of the greenback against a basket of six currencies, was up 0.06 percent at 101.92.




    On the domestic equities market, the 30-share Sensex was up 242.62 points, or 0.45%, at 54,295.23, while the broader NSE Nifty was up 68.85 points, or 0.43 percent, at 16,194 points. Brent crude futures rose 1.20 percent to USD 114.92 a barrel, a new high According to stock exchange data, foreign institutional investors were net sellers in the capital market on Tuesday, offloading shares worth Rs 2,393.45 crore.

  • As crude oil prices rise, the rupee falls to an all-time low of 77.42 per dollar

    Crude Oil Price

    The Indian rupee has broken over the 77-per-dollar barrier for the first time, owing to rising crude oil prices and a growing trade deficit.
    The rupee was trading at 77.32 per dollar, 41 paise lower than its previous close.
    The US Federal Reserve’s hawkish posture has resulted in higher US bond yields, with the dollar index reaching a 20-year high.
    The RBI has been robust in its intervention in the foreign exchange market in the past, and was seen protecting the Rs 77 per dollar levels.

    As a result, foreign exchange reserves have fallen by roughly $45 billion from their all-time high of $642 billion, which was recorded for the week ending September 3, 2021.
    According to the most recent figures issued by the RBI on Friday, the country’s foreign exchange reserves dipped to $598 billion for the week ending April 29.

    Risk appetite has diminished, according to forex traders, due to growing fears about inflation, which may prompt more aggressive rate hikes by global central banks.

    The dollar index, which measures the strength of the greenback against a basket of six currencies, was up 0.35 percent at 104.02, reflecting rising US yields and concerns about higher interest rates.

    Furthermore, Asian and developing market rivals began the day badly and likely impact on mood.

    The 30-share Sensex was trading 737 points, or 1.34 percent, lower at 54,098.58 points, while the wider NSE Nifty was down 220.25 points, or 1.34 percent, at 16,191.00 points.

    Brent crude futures increased 0.14 percent to USD 112.55 per barrel, the global oil benchmark.

    According to stock exchange data, foreign institutional investors were net sellers in the capital market on Friday, offloading shares worth Rs 5,517.08 crore.