US Currency News

In February 2021 too, the apex bank was the net seller of the US currency after it had bought USD 23.352 billion and sold USD 24.571 billion in the spot market. In FY2019-20, the central bank had net purchased USD 45.097 billion. It had bought USD 72.205 billion and sold USD 27.108 billion in the spot market.

In fiscal 2016 too, the central bank was a net buyer of dollar to the tune of USD 10.209 billion.

On Friday, the rupee had depreciated by 24 paise to end at 65.38 on persistent demand for the American currency from importers.

Asian and emerging market currencies breathed a sigh of relief overnight after Fed Chair Janet Yellen indicated monetary policy tightening policy will be gradual.

Stretching its strong recovery momentum for the third straight day, the rupee on Friday rose by 4 paise to a fresh one-week high of 64.44 against the US dollar on sustained selling of the American currency by exporters.

The rupee pared its early gains to trade down by 5 paise at 64.94 against the dollar on emergence of demand for the US currency from importers and banks despite higher local equities.

The rupee strengthened by 18 paise to 66.84 against the dollar in early trade at the Interbank Foreign Exchange today on selling of the US currency by exporters and banks amid foreign fund inflows.

Mumbai: The rupee appreciated by 3 paise to 66.74 against the dollar in early trade on Wednesday on increased selling of the US currency by exporters and banks amid higher foreign inflows.

The rupee continued to rule higher against the American currency for the eighth straight session as it rose 11 paise to 66.10 in early trade at the Inter-bank Foreign Exchange on Monday on increased selling of the US currency by exporters and banks. 

The US dollar bought 122.81 Japanese yen, lower than 122.88 yen of the previous session.

The rupee had recovered by 4 paise to close at 64.93 per dollar yesterday at the Interbank Foreign Exchange market.

Stock markets were also in the positive zone in line with Asian markets which also supported the rupee, dealers said.

The rupee recovered by 9 paise to 65.09 against the dollar in early trade on fresh selling of the US currency by exporters and banks.

"Traders will look at this week`s data with a little bit of caution, but the main thing is, if the euro is losing ground, naturally you find the US dollar tends to benefit from that," Stan Shamu, a markets strategist IG Ltd., told Bloomberg News.

Continuing its rising streak for the second straight session, the rupee on Friday moved up by another 12 paise to close at 63.52 per dollar on sustained selling of the American currency by banks and exporters.

IT stocks were in limelight Wednesday, gaining nearly 3 percent, as the stronger US currency boosts the sales of software firms in rupee terms.

Thomson Reuters Corp`s first-quarter adjusted profit narrowly missed Wall Street expectations on Wednesday as a stronger U.S. dollar weighed on results, but organic revenues rose due to increases in its legal and tax & accounting businesses.

The US dollar rose more than 1 percent on Tuesday, resuming a recent upward trend and weighing on Wall Street stocks as investors fretted the currency`s strength would hurt multinational corporate profits.

The rupee Wednesday ended six paise higher at 61.63 against the dollar to extend gains for the fifth straight day on sustained selling of the US currency by banks and exporters in view of strong capital inflows.

The dollar lost more ground in thin Asian trade Thursday, after a rally powered by decade-high US economic growth figures.