Dollar

Rupee pulls off 8-month lows as exporters sell

The rupee recovered from a more than 8-month low hit earlier on Thursday, as exporters took advantage of a spike in the dollar to sell the greenback and on fears the central bank would intervene to stabilise the local currency. The rupee still posted a fifth day of falls to mark its longest losing streak in over three months as worries about a potential pullback in the US monetary stimulus programme and a weak manufacturing survey in China sparked a shift sway from riskier currencies.

Any pullback on US quantitative easing has the potential to hit Indian markets hard. Foreign investors have bought more than $5 billion of debt and stocks this month, marking a surge in inflows from previous months. Finance Minister P Chidambaram tried to assuage investor sentiment, stating that US Federal Reserve Chairman Ben Bernanke's statements have been 'misunderstood or misinterpreted'.

"The rupee was caught in the eye of the storm between Bernanke and Chinese PMI. The market recovered realising the fears were overdone. Expectation of large flows starting next week and exporter selling around 56 levels capped the losses," said Satyajit Kanjilal, chief executive at ForexServe.

The currency breached the key psychological level of 56 to fall as low as 56.01 per dollar on Thursday, a level last seen on September 6, 2012. It closed at 55.59/60 versus its close at 55.46/47 on Wednesday. The Reserve Bank of India was not seen intervening to bolster the rupee despite the sharp falls, traders said. 

Rupee weakens further, falls to 8-month low

The rupee is at its lowest level in 8 months, falling below 56 to the dollar. This is its fifth consecutive day of falling. The fall came due to a rally in the dollar as the US Federal Reserve said it might scale back its stimulus programme. ...

Rupee down 37 paise against dollar in early trade

Mumbai: The rupee on Wednesday declined by a hefty 37 paise to trade at a fresh six-month low of 55.83 in early trade at the Interbank Foreign Exchange market on sustained dollar demand and strengthening of the US currency overseas. Forex dealers said besides dollar's gains against euro and other currencies in the overseas markets, sustained dollar demand from importers and some banks and a lower opening in the stock...  

Rupee at a 6-month low on weaker shares, dollar demand

Mumbai: The rupee weakened to a near six-month low on Tuesday, largely driven by weakness in the euro and import-related dollar demand that traders attributed to a private refining company. At 04:45 pm IST, the rupee was at 55.37/38 versus its Monday close of 55.10/11. It fell to 55.41 during the session, a level last seen on November 29, 2012. ...  

US Powerball jackpot could go higher than $600 million

Austin: The Powerball jackpot Saturday night could be even higher than the record $600 million being advertised, possibly rivaling the largest lottery jackpot in US history, a Texas Lottery official said on Saturday. "Oftentimes, the advertised amount is lower than what the actual jackpot ends up being," said Kelly Cripe, a spokeswoman for the Texas Lottery. "It's entirely possible this $600 million jackpot will end up being a bigger jackpot."...  

Rupee down 21 paise against dollar in early trade

Mumbai: The rupee on Friday lost 21 paise to 54.98 against the dollar in early trade on the Interbank Foreign Exchange due to appreciation of the US currency against euro overseas. Increased demand for the dollar from importers also put pressure on the rupee. Dealers attributed the rupee's fall to dollar gains against the euro and yen overseas but a higher opening in the domestic stock market capped the fall....  

Rupee up by 10 paise vs dollar in early trade

Mumbai: The rupee on Thursday rose by 10 paise to 54.68 against the dollar in early trade at the Interbank Foreign Exchange on Thursday on increased selling of the US currency by exporters and banks. Besides, strengthening of yen and other Asian currencies against the dollar in overseas market also supported the rupee, forex dealers said. The rupee had gained three paise to close at 54.78 in previous session on...  

Gold falls to three-week lows on stronger dollar

London: Gold fell for the fifth straight session on Wednesday, hitting a three-week low as the dollar strengthened to a six-week high versus the euro after weak euro zone data. While gold has recovered around 7 per cent from a two-year trough of $1.321.35 an ounce hit in mid-April, its safe-haven appeal has been battered by record-high US equities and signs of an improving US economy. Spot gold fell 0.8...  

'Mad Men' actor Jon Hamm shoots in India

New Delhi: Hollywood actor Jon Hamm, better known as Don Draper from TV series 'Mad Men', is in India to shoot for his forthcoming film 'Million Dollar Arm'. The film has been backed up by Disney, and is about a sports agent who comes to India in order to fetch young talents for a baseball team. Indian media was speculating about the reasons behind Jon Hamm's presence in Mumbai as...  

Rupee up by 5 paise against dollar in early trade

Mumbai: The rupee on Wednesday rose by five paise to 54.76 against the dollar in early trade at the Interbank Foreign Exchange on selling of the US currency by exporters. Besides, a higher opening in the domestic equity market and strengthening of euro against the dollar overseas supported the rupee, forex dealers said. The rupee had lost eight paise to close at an over 1-month low of 54.81 against the...  

Rupee down 8 paise against dollar in early trade

Mumbai: The rupee on Tuesday lost eight paise to 54.81 against the dollar in early trade on the Interbank Foreign Exchange market due to higher demand of the US currency from banks and importers. Forex dealers said dollar strengthening against other currencies in the global market also put pressure on the rupee. The domestic currency had closed higher by seven paise at 54.73 yesterday on fresh dollar selling by exporters...  

Gold falls, near 2-week low as dollar firms

London: Gold fell 1.2 per cent on Monday, holding near its weakest level in two weeks, as the dollar firmed on signs of an improving US job market and as holdings in exchange-traded funds slipped again. Bullion's safe-haven appeal has been dimmed by speculation the Federal Reserve could scale back its aggressive monetary stimulus after recent US labour market data pointed to a steady recovery trend in the world's largest...  

Rupee down 15p vs dollar in early trade

Mumbai: The rupee on Monday lost 15 paise to hit a fresh over one-month low at 54.95 against the dollar in early trade on the Interbank Foreign Exchange market due to appreciation of the US currency against other currencies in the global markets. The rupee sentiment was hit by selling in commodities that was triggered by a strong dollar, which rose to a fresh four-and-a-half-year peak against the yen on...  

Sensex ends 40 points up in special trading session

Mumbai: The BSE benchmark Sensex on Saturday gained 40 points in a special two-hour trading session as investors indulged in selective buying of bluechip stocks tracking gains in healthcare and metal sector shares. The 30-share index, which had regained 20,000 level after over three months on Friday, added another 39.70, or 0.20 per cent to settle at 20,122.32. Similarly, the broad-based National Stock Exchange index Nifty rose by 12,50 points,...  

Rupee trims initial losses against dollar, still down 22 paise

Mumbai: The rupee trimmed its initial weakness on Friday but was quoted still down by 22 paise to 54.47 per dollar on heavy demand of the US currency from banks and importers as it was strong overseas despite good capital inflows into equities. The rupee resumed lower at 54.57 per dollar as against the last closing level of 54.25 at the Interbank Foreign Exchange (Forex) Market and dropped further to...  

Rupee up marginally against dollar in early trade

Mumbai: The rupee traded marginally up by one paise to 54.15 against the US dollar in early trade at the Interbank Foreign Exchange on Thursday on sustained selling of the American currency by exporters. Strengthening of the euro against the dollar overseas and a higher opening in the domestic equity market further supported the rupee. The rupee had closed marginally lower by two paise at 54.16 against the dollar in...  

Rupee down 18 paise against dollar in early trade

Mumbai: The rupee today lost 18 paise to Rs 54.36 against the US dollar in early trade on the Interbank Foreign Exchange due to appreciation of the American currency against the euro overseas. Increased demand for the dollar from importers and banks also put pressure on the rupee. Dealers attributed the rupee's fall to dollar gains against the euro overseas but a higher opening in the domestic stock market limited...  

Sensex hits 3-month high, rises 215 points

Mumbai: The BSE benchmark Sensex on Tuesday rose over 215 points to close at three-month of 19,888.95 and Nifty regained 6,000-point mark on sustained buying by FIIs in banking, FMCG, realty and auto sector stocks. The Sensex rose by 215.31 points, or 1.09 per cent, to 19,888.95, a level last seen on January 31. The index had gained 98 points in the previous session. The gauge had touched the day's...  

Rupee up 13 paise against dollar in early trade

Mumbai: Continuing its gains for the third consecutive session, the rupee on Thursday rose by 13 paise to 53.67 against the dollar in early trade on the Interbank Foreign Exchange market, on sustained selling of the US currency by exporters. Forex dealers said euro's gains against the dollar after the US Federal Reserve opted to keep its easy-money policies in place on the back of lacklustre economic data, also supported...