The rupee slid sharply against the dollar on the money market during the week, ended on Mar 30, 2019. The rupee dropped by 50 paisas in terms of the dollar for buying and selling at Rs 140.78 and Rs 140.80.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee lost about Rs 1.20 versus the dollar for buying and selling at Rs 142.00 and Rs 142.50. The rupee shed 20 paisas in terms of the euro for buying and selling at Rs 158.50 and Rs 160.30.
Commenting on the falling trend in the rupee's value, money experts said that dearth of the dollar like situation created in the market as small and currency traders indulged in panic buying of dollars as a safe-haven.
They said that dollar is moving up and it will show further strength in terms of the rupee in days to come. Hike in gas, electricity and in policy rate etc. pushing rates of commodities higher, creating uncertainties among people, as well.
INTER-BANK MARKET RATES: On Monday, the rupee shed five paisas in terms of the dollar for buying and selling at Rs 140.28 and Rs 140.30, they said. On Tuesday, the rupee inched up by one paisa in terms of the dollar for buying and selling at Rs 140.27 and Rs 140.29, they said. On Wednesday, the rupee picked up one paisa in terms of the dollar for buying and selling at Rs 140.26 and Rs 140.28, they said. On Thursday, the rupee shed two paisa in terms of the dollar for buying and selling at Rs 140.29 and Rs 140.30. On Friday, the rupee was down by 48 paisas in terms of the dollar for buying and selling at Rs 140.78 and Rs 140.80.
OPEN MARKET RATES: On Mar 25, the rupee managed to hold it's week-end levels against the dollar for buying and selling at Rs 140.80 and Rs 141.30, they said. The rupee recovered 70 paisas versus the euro for buying and selling at Rs 158.30 and Rs 160.10. On Mar 26, the rupee gained 30 paisas against the dollar for buying and selling at Rs 140.50 and Rs 141.00, they said. The rupee, however, shed 30 paisas versus the euro for buying and selling at Rs 158.60 and Rs 160.40, they said. On Mar 27, the rupee maintained overnight levels versus the dollar for buying and selling at Rs 140.50 and Rs 141.00. While, the rupee, rose sharply in terms of the euro for buying and selling at Rs 157.60 and Rs 160.10. On Mar 28, the rupee did not show any change versus the dollar for buying and selling at Rs 140.50 and Rs 141.00. While, the rupee, gained 20 paisas in terms of the euro for buying and selling at Rs 157.40 and Rs 159.20.
On Mar 29, the rupee lost about 80 paisas versus the dollar for buying and selling at Rs 141.30 and Rs 141.80. The rupee was also down by 60 paisas in terms of the euro for buying and selling at Rs 158.00 and Rs 159.80.
On Mar 30, the rupee lost about 70 paisas versus the dollar for buying and selling at Rs 142.00 and Rs 142.50. The rupee was also depreciated by 50 paisas in terms of the euro for buying and selling at Rs 158.50 and Rs 160.30.
OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, the dollar rebounded modestly against the yen on Tuesday as Treasury yields pulled back from 15-month lows as a modicum of calm returned to financial markets gripped by fears of a sharper downturn in the global economy.
The pound stuck to a narrow range with British lawmakers scheduled to vote on a range of Brexit options later in the day. The dollar edged up 0.15 percent to 110.13 yen and put some distance between a six-week low of 109.70 plumbed the previous day, when fears of a global economic slowdown depressed US yields and boosted investor demand for the yen, a perceived safe haven. The dollar was trading against the Indian rupee at Rs 68.815, the US currency was at 4.064 in terms of the Malaysian ringgit and the greenback was available at 6.709 in relation to the Chinese yuan.
In the second Asian trade, the yen gained against its peers on Monday, touching a six-week peak versus the dollar, as fears in markets of a global economic slowdown fuelled demand for the Japanese currency. The yen, a perceived safe-haven which attracts demand times of market turmoil and political tensions, was 0.15 percent higher at 109.79 to the dollar after brushing 109.70, its strongest since Feb. 8.
The dollar index was little changed at 96.623 after scraping out a gain of 0.15 percent on Friday. The dollar was trading against the Indian rupee at Rs 69.078, the greenback was at 4.068 in terms of the Malaysian ringgit and the US currency was at 6.714 versus the Chinese yuan.
In the third Asian trade, the dollar edged higher on Wednesday and antipodean currencies beat a hasty retreat after the Reserve Bank of New Zealand surprised the markets by opening the door to future monetary policy easing. The dollar index versus a basket of six major currencies was up 0.2 percent at 96.912, adding to modest gains made overnight.
The dollar was trading against the Indian rupee at Rs 68.880, the greenback was at 4.075 versus the Malaysian ringgit and the US currency was at 6.715 in relation to the Chinese yuan. In the fourth Asian trade, the dollar rose on Thursday as many of its peers weakened after more central banks opted to shift to a dovish policy stance in the wake of deteriorating economic prospects.
The dollar was trading against the Indian rupee at Rs 69.013, the greenback was at 4.075 in terms of the Malaysian ringgit and the dollar was available at 6.731 versus the Chinese yuan. In the final Asian trade, the dollar was poised on Friday for its strongest gain in five months as investors responded positively to a bounce in US Treasury yields and as some of its rivals were hit by dovish signals from their own central banks.
With many currencies on the defensive, the dollar has weathered a decline in benchmark Treasury yields to a 15-month low. Against a basket of key rival currencies, the US currency was a shade higher at 97.217.
The index was on track for a more than one percent rise in March, its best monthly performance since gaining 2.1 percent in October last year. It has risen 1.5 percent from a near two-month low of 95.74 brushed on March 20.
The dollar held strong even as data overnight showed the US economy slowed more than initially thought in the fourth quarter of last year.
The dollar was trading against the Indian rupee at Rs 69.075, the greenback was at 4.081 in terms of the Malaysian ringgit and the US currency was available at 6.725 versus the Chinese yuan.
In the final US trade, the US dollar benefited on Friday from sterling's slide after parliament for the third time rejected Prime Minister Theresa May's proposed deal to pull Britain out of the European Union.
With May losing again - albeit by a smaller margin than the previous two votes - sterling is set to remain under pressure on fears no Brexit deal will be reached before the April 12 deadline.
Moves in the pound were less dramatic on Friday than those following May's previous parliamentary defeats. Trading of the pound has been scaled back because it has become so difficult to predict amid the constant and sometimes arcane political developments, traders said.
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