Tag: dollar

Copper futures down on strong dollar

Copper futures down on strong dollar

28/02/2017 15:48

Copper futures were trading lower during the afternoon trade in the domestic market on Tuesday as investors and speculators exited their positions in the industrial metal on strength in the US dollar.

At the MCX, copper futures for February 2017 contract is trading at Rs 394.40 per kg, down by 0.23 per cent, after opening at Rs 395.40, against a previous close of Rs 395.30. It touched the intra-day low of Rs 393 (at 15:50 hours).

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RBI sets rupee reference rate at 67.1958 against US dollar

06/02/2017 14:34

The Reserve Bank of India has fixed the reference rate of the rupee at 67.1958 against the US dollar and 72.4035 for the euro.

The corresponding rates were 67.3825 and 72.4429 on Friday.

According to a RBI statement, the exchange rates for the pound and the yen against the rupee were 83.9208 and 59.73 per 100 yen, respectively, based on reference rates for the dollar and cross-currency quotes at noon.

The SDR-rupee figure will be based on this rate, the statement added.

Yellow metal in reverse gear on firm dollar

Yellow metal in reverse gear on firm dollar

25/01/2017 14:13

Gold futures fell during afternoon trade in the domestic market on Wednesday as investors and speculators exited their positions in the precious metal as demand for safe-haven faded on strong US dollar as investors welcomed the new US President Donald Trump’s economic policies.

The greenback soared as investors acknowledged the Trump’s eagerness to deliver on his campaign promises as he shifted his focus back to growth initiatives including promising corporate tax breaks to fuel US investment, after focusing on protectionism in his first few days in office.

At the MCX, gold futures for February 2017 contract is trading at Rs 28565 per 10 grams, down by 0.56 per cent, after opening at Rs 28650, against a previous close of Rs 28725. It touched the intra-day low of Rs 28526 (at 13:56 hours).

Copper futures gain on dollar weakness

Copper futures gain on dollar weakness

24/01/2017 15:41

Copper futures rose during afternoon trade in the domestic market on Tuesday as investors and speculators extended their positions in the industrial metal on US dollar weakness amid concerns of US protectionism under the new President Donald Trump.

The dollar weakened on concerns about the impact of US President’s protectionist trade stance as he formally withdrew the US from the Trans-Pacific Partnership on Monday, saying he would seek one-on-one trade deals with countries that would allow Washington to quickly terminate them ‘if somebody misbehaves’.

At the MCX, copper futures for February 2017 contract is trading at Rs 399.05 per kg, up by 0.20 per cent, after opening at Rs 399, against a previous close of Rs 398.25. It touched the intra-day high of Rs 399.75 (at 15:34 hours).

Zinc futures drop by 1.61%

Zinc futures drop by 1.61%

17/01/2017 16:59

Zinc futures plunged by more than 1 per cent during evening trade in the domestic market on Tuesday as investors and speculators exited their positions in the industrial metal on firm US dollar, against a basket of other currencies.

The US dollar strengthened as investors awaited the British Prime Minister Theresa May’s speech today in which she may say that the UK is likely to pull out of the single market for goods and services and seek a completely new trading relationship with the bloc.

However, expectations of strong demand in top consumer China, restricted further slide in zinc prices at futures trade.

At the MCX, zinc futures for January 2017 contract is trading at Rs 183.85 per kg, down by 1.61 per cent, after opening at Rs 185.40, against a previous close of Rs 186.85. It touched the intra-day low of Rs 181.50 (at 16:59 hours).

RBI sets rupee reference rate at 67.9522 against dollar

06/01/2017 15:22

The Reserve Bank of India today fixed the reference rate of the rupee at 67.9522 against the US dollar and 71.8662 for the euro.

The corresponding rates were 67.7884 and 71.5574, yesterday.

According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 84.0976 and 58.50 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon.

The SDR-rupee figure will be based on this rate, the statement added.

Rupee nosedives 23 paise against US dollar

27/12/2016 12:20

The Indian rupee tumbled 23 paise against its US counterpart on Tuesday amid fund outflows by foreign funds and importers despite firm trading in equity market.

At the Interbank Foreign Exchange Market, the local currency was trading down by 23 paise to 67.96 per dollar from a previous close of 67.73 per dollar at 12:24 hours.

Meanwhile, the 30-share barometer index of Bombay Stock Exchange, Sensex was at 25941.71, up by 134.61 points or by 0.52 per cent, and the NSE Nifty was at 7950.75, up by 42.5 points or by 0.54 per cent.

According to Dun & Bradstreet report, the rupee is likely to remain under pressure and is expected to trade in the range of around 67.70 – 67.90 per dollar this month, citing limited foreign capital flows due to low productivity in the Winter session of Parliament and ambiguity over implementation of GST.

Rupee trades marginally up against US dollar

19/12/2016 11:20

The Indian rupee rebounded against the US dollar after making a weak start at the Interbank Foreign Exchange on Monday amid fresh selling of dollars by banks and exporters.

According to Angel Broking, the local currency strengthened against the US counterpart as surge in as recent weakness in the home currency prompted the exporters, banks and traders to book profits.

At the Interbank Foreign Exchange Market, the local currency was trading up by 03 paise to 67.76 per dollar from a previous close of 67.79 per dollar at 11:25 hours. The Indian currency opened at 67.83, down 04 paise against the US dollar.

The home currency tumbled 40 paise against the US dollar on Thursday after the US Federal Reserve raised interest rates for the first time this year by 25 basis points to between 0.50 per cent and 0.75 per cent and also hinted of a brisker pace of rate rises in 2017.

Yellow metal loses sheen on dollar strengthening

Yellow metal loses sheen on dollar strengthening

09/12/2016 14:14

Gold futures fell during afternoon trade in the domestic market on Friday as investors and speculators exited their positions in the precious metal as the US dollar strengthened.

Besides, rising hopesd that the US Federal Reserve likely to hike interest rates in its policy meeting next week, continue to weigh on gold, as rising US rates raise the opportunity cost of holding non-yielding bullion.

At the MCX, gold futures for February 2017 contract is trading at Rs 27,720 per 10 grams, down by 0.21 per cent, after opening at Rs 27,750, against a previous close of Rs 27,777. It touched the intra-day low of Rs 27,700 (at 14:08 hours).

RBI sets rupee reference rate at 66.4273 against dollar

10/11/2016 16:24

The Reserve Bank of India today fixed the reference rate of the rupee at 66.4273 against the US dollar and 72.7113 for the euro.

The corresponding rates were 66.7968 and 74.9727, respectively, yesterday.

According to an RBI statement, exchange rates for the pound and the yen against the rupee were 82.5093 and 63.02 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon.

The SDR-rupee figure will be based on this rate, the statement added.