The rupee fell slightly against the dollar on the money market during the week, ended on February 16, 2019. The rupee almost held the present levels versus the dollar for buying and selling at Rs 138.90 and Rs 138.92.
INTER-BANK MARKET RATES: OPEN MARKET RATES: The rupee did not show any major change in relation to the dollar for buying and selling at Rs 138.60 and Rs 139.10, they said. While, the rupee gained about 80 paisas against the euro for buying and selling at Rs 155.40 and Rs 157.20, they said. During the week under review, the rupee failed to maintain steady trend against the dollar on the rising demand by different quarters, marketmen said. Many indulged in fresh buying of dollar on expectations of the economic developments in the country and partly because of uncertainties about the International Monetary Fund (IMF) deal with the government, they said.
INTER-BANK MARKET RATES: On Monday, the rupee lost around 59 paisas in relation to the dollar for buying and selling at Rs 138.94 at Rs 138.95. On Tuesday, the rupee was trading versus the dollar for buying and selling at Rs 138.92 and Rs 138.94. On Tuesday, the rupee shed one paisa versus the dollar for buying and selling at Rs 138.93 and Rs 138.95.
On Wednesday, the rupee picked up two paisas versus the dollar for buying and selling at Rs 138.92 and Rs 138.93. On Thursday, the rupee did not show any major change versus the dollar for buying and selling at Rs 138.90 and Rs 138.92. On Friday, the rupee almost unchanged in relation to the dollar for buying and selling at Rs 138.90 and Rs 138.92.
OPEN MARKET RATES: On February 11, the rupee dropped 30 paisas against the dollar for buying at Rs 138.50 and it also fell by 50 paisas for selling at Rs 139.20. While, the rupee shed 20 paisas versus the euro for buying and selling at Rs 156.020 and Rs 158.00.
On February 12, the rupee shed 20 paisas against the dollar for buying at Rs 138.70 while it did not show any change for selling at Rs 139.20. The rupee, however, gained 20 paisas versus the euro for buying and selling at Rs 156.00 and Rs 157.50.
On Feb 13, the rupee, however, gained 10 paisas in terms of the dollar for buying and selling at Rs 138.60 and Rs 139.10. The rupee lost 50 paisas versus the euro for buying and selling at Rs 156.50 and Rs 158.00.
On Feb 14, the rupee did not move any side in relation to the dollar for buying and selling at Rs 138.60 and Rs 139.10. While, the rupee gained 70 paisas versus the euro for buying and selling at Rs 155.80 and Rs 157.30.
On Feb 15, the rupee did not show any change in relation to the dollar for buying and selling at Rs 138.60 and Rs 139.10. While, the rupee gained 40 paisas against the euro for buying and selling at Rs 155.40 and Rs 157.20.
OVERSEAS OUTLOOK FOR DOLLAR: In the first Asian trade, the dollar rose against most other currencies on Monday, holding near a six-week high as fresh worries about US-Sino trade tensions and global growth drove appetite for safe-haven assets.
"US-China talks were the big focus for the week and the dollar strength is indicative of the cautious market sentiment right now owing to its safe-haven status," said Nick Twidale, chief operating officer at Rakuten Securities.
The dollar index, a gauge of its value versus six major peers, was marginally higher at 96.64, on track for its eighth straight day of gains.
In the second Asian trade, the dollar held close to its 2019 high on Tuesday as US-Sino trade tensions and global growth worries underpinned the greenback's safe-haven appeal, while the euro and the British pound were hurt by troubles of their own.
The dollar index was steady at 97.06, after advancing 0.45 percent in the previous session, its largest percentage gain since January 24. The dollar was trading against the Indian rupee at Rs 70.910, the greenback was at 4.075 versus the Malaysian ringgit and the US currency was available at 6.785 in terms of the Chinese yuan.
In the third Asian trade, the dollar edged lower versus its peers on Wednesday, as rising hopes of a breakthrough in US-China trade talks led investors to put money into the euro and Asian currencies. The euro gained 0.1 percent to $1.1335, while the Aussie dollar, often considered a barometer for global risk appetite, rose 0.3 percent to $0.7112.
The dollar index, a gauge of its value versus six major peers, was marginally lower at 96.65, having lost 0.35 percent on Tuesday. The dollar was trading against the Indian rupee at Rs 70.530, the greenback was at 4.063 in terms of the Malaysian ringgit and the US currency was available at 6.756 versus the Chinese yuan.
In the fourth Asian trade, the dollar held near three-month highs versus the euro on Thursday, supported by sustained strength in core US inflation and weaker-than-expected data out of Europe. The euro was trading below the psychologically important $1.13 level at $1.1283. Earlier in the session, it hit an intra-day low of $1.1245. China's January dollar-denominated exports rose 9.1 percent from a year earlier, while imports dropped 1.5 percent, both beating analysts' expectations, official data showed on Thursday.
The dollar index, a gauge of its value versus six major peers, was marginally higher at 97.20, having gained 0.5 percent in the previous session. The index has rallied 1.7 percent so far this month, after two consecutive months of losses.
The dollar was trading against the Indian rupee at Rs 70.840, the greenback was at 4.063 in terms of the Malaysian ringgit and the US currency was available at 6.762 versus the Chinese yuan. In the final Asian trade, the dollar held near 3-month highs against the euro on Thursday, benefiting from sustained strength in core US inflation and weak data out of Europe.
Although headline US inflation growth logged its weakest pace in 1-1/2-years in January, traders focused on the core price gauge, which was up for the third straight month and gave the dollar some impetus. The greenback was hit earlier this year from a shift to a cautious stance by the Federal Reserve. The latest data suggested the central bank will need to stay vigilant on pricing pressures even as it adjusts policy imperatives in the face of heightened risks to growth.
The dollar index, a gauge of its value versus six major peers, was marginally higher at 97.20, having gained 0.5 percent in the previous session. The index has rallied 1.7 percent so far this month, after two consecutive months of losses.
The dollar was trading against the Indian rupee at Rs 70.840, the greenback was at 4.063 in terms of the Malaysian ringgit and the US currency was at 6.762 versus the Chinese yuan. In the final US trade, the US dollar was modestly higher on Friday morning, steadying after it whipsawed following a report showing import price data weakened for the third straight month in January, the latest sign of weak inflation pressures.
The dollar index, which measures the currency against a basket of six rivals, was 0.2 percent higher, recovering after a week that included several weak data reports, including dismal US retail sales. Major currencies remained range-bound as the market awaited developments in trade talks between Washington and Beijing.