INSUBCONTINENT EXCLUSIVE:
Rupee Vs Dollar Today: The rupee settled at 74.55 against the dollarDeclining for the 3rd straight session and tape-recording its weakest
level in over 2 months, the rupee fell 23 paise versus the US dollar on Thursday, July 1, to settle at 74.55 (provisional) amid broader
American currency and soft trend in domestic equities
At the interbank foreign exchange market, the domestic unit opened on a negative note at 74.37 against the dollar and hovered in the variety
of 74.34 to 74.63 throughout the session
In an early trade session, the local unit compromised by 5 paise to 74.37 versus the greenback
In the last three trading sessions to Thursday, the domestic currency has lost 36 paise
(Also Read: Rupee Registers Biggest Regular Monthly Fall In 15 Months ) Rupee Records Weakest Level In Over 2 MonthsIn the afternoon trade
today, the domestic unit compromised to its least expensive level considering that late April
Aspects such as the wider strength of the greenback ahead of the U.S
jobs information, combined with weak domestic equities hurt the currency's performance
Throughout the session, the partly convertible rupee fell greatly to 74.63 - its most affordable mark given that April 27
According to traders, the need for the American currency from the foreign banks continued, nevertheless, the system is also anticipated to
trade with a weakening predisposition on concerns over the earlier-than-expected unwinding of financial stimulus by the U.S
Federal Reserve.Meanwhile, the dollar index, which gauges the greenback's strength versus a basket of 6 currencies, increased 0.04 per cent
What analysts say on the rupee's efficiency today: Mr Amit Pabari, MD, CR Forex: Yesterday, the US dollar rose to a two-and-a-half-month
high, posted its most significant monthly increase since November 2016 on hawkish fed and positive US economic information
The stronger than anticipated private payroll and home costs at a three-decade high is assisting short-term rates like 2 - 5 years the US
yields to leap more than 10 to 30-year yields.The RBI is accumulating its FX reserves even at the current levels and for this reason we are
not seeing any valuing relocation beyond 74 mark
Broadly, it has actually become actually crucial to comprehend RBI's position as rupee will relocate line with the RBI's position
The return of the COVID variant, higher petroleum costs and expectation of a higher financial deficit will attempt to break the roofing
system of 74.40-50 levels
If this level is taken out then one can expect an immediate move towards 75-75.20 levels
Anindya Banerjee, DVP, Currency Derivatives - Interest Rate Derivatives at Kotak Securities: The US dollar index is trading at the highest
level considering that early April and Asian currencies are under pressure
After a more powerful than anticipated US ADP tasks report and robust real estate sector data, hopes are high that coming Friday will see
the United States report an outstanding set of work numbers (NFP)
I anticipate USDINR to trade within a variety of 74.10 and 74.80 over the near term
Domestic equity markets today: On the domestic equity market front, the BSE Sensex ended 164.11 points or 0.31 per cent lower at 52,318.60,
while the more comprehensive NSE Nifty slipped 41.50 points or 0.26 percent to close at 15,680
Due to weakness in HDFC Bank, Infosys, HDFC, Reliance Industries, the equity criteria traded lower for the second straight day
Automobile stocks such as Tata Motors, Bajaj Car, Maruti Suzuki registered gains after the companies revealed their car sales numbers for
Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities The Awesome stayed slow throughout the day and
gradually declined to the level of 15667
Thursday's fall was led by the decline in technology, banks and commodities, which have a big weight in the index
Volatility is declining, which is an indication that bulls are resting and they might bring volatility to the market.India VIX closed at
12.63, the most affordable level in the last 18 months
On a month-to-month basis, the market stayed in the narrow variety of 500 points, which is an uncommon and even narrow trading variety over
Long traders require to be careful when adding long positions at high levels and such markets welcome unpleasant events
According to exchange information, the foreign institutional financiers were net sellers in the capital market on June 30 as they unloaded
shares worth Rs 1,646.66 crore
Brent crude futures, the international oil criteria, increased 0.96 per cent to $ 75.34 per barrel.
