Rupee to start up on dollars broad drop, shares key

The rupee is expected to open stronger on Tuesday tracking the dollar's losses overseas, but the domestic sharemarket performance would be key for direction.

The index of the dollar against six major currencies was down 0.2% at 74.897 points at 0250 GMT, and below 75.379 when the local forex market closed on Monday.

The euro extended gains in early Asian trade after remarks by the head of the eurozone bailout fund that the facility's guarantees will be raised triggered short-covering, though its advance could stall ahead of a confidence vote on the government in the Greek parliament.

Almost all Asian currencies were stronger versus the dollar.

Traders expect the rupee to open around 44.95 to the dollar and move in a 44.90 to 45.10 band, with a possibility of slipping to 45.25 if shares remain weak through the day.

The rupee had ended at 45.00/01 on Monday, after falling to 45.06 - a level last seen on May 31, and 0.3% weaker than Friday's close of 44.86/87.

The MSCI index of Asian stocks ex-Japan was up 0.4%, while the Nifty futures traded in Singapore were down 0.1%, suggesting a flat to slightly lower start to the local market.

Rupee seen up as Asian peers, shares rise

The rupee is expected to open stronger on Friday buoyed by gains in other regional currencies and shares, while the dollar's losses versus the euro is also seen helping sentiment.

The euro rose after a drop in US Treasury yields dented the dollar, and gave the single currency some respite from a recent sell-off on worries over the possibility of debt restructuring by Greece.

The index of the dollar against six major currencies was down 0.26% at 75.356 points at 0237 GMT, compared to 75.577 points when the rupee market closed on Thursday.

The MSCI index of Asian stocks ex-Japan was up 0.73% and the Nifty India stock futures traded in Singapore were up 0.7%, suggesting a firm start to the domestic sharemarket.

The partially convertible rupee ended 0.1% stronger on Wednesday at 45.30/31 per dollar.

Traders expect the rupee to open around 45.20 and move in a 45.15 to 45.35 band.

Rupee nears 3-month low on local shares, euro weakness

The Indian rupee fell further in afternoon trades on Wednesday to hover near its three-month lows as concerns of dollar outflows heightened on the back of the continuing fall in local shares.

* The persistent weakness in the common European unit also weighed on the rupee, traders said.

* At 1:45 p.m., the partially convertible rupee was at 45.41/42 per dollar, weaker than the last close of 45.21/22.

* The rupee had last crossed the 45.43 level on Feb. 25, and if it breaches this level, it could drop to near 45.50 before any support is seen, traders said.

* The euro was at $1.4026 and the index of the dollar against six major currencies was at 76.227 points. * The euro fell on Wednesday, as investors including hedge funds cut bullish bets on mounting worries over Greece's finances, with many traders expecting the single currency to test key support levels on charts.

* Indian shares extended losses to more than 1 percent in afternoon trades on Wednesday as fresh worries about Europe's spreading debt crisis and weak Asian markets dampened investor sentiment.

* The actively traded one-year onshore forward premium was 247.75 points against 248.25 points last close.

Rupee down 20 paise against U.S. dollar in early trade

The Indian rupee depreciated by 20 paise to Rs 45.21 against the U.S. dollar in early trade on the Interbank Foreign Exchange on Monday, weighed down by dollar gains against the euro and other currencies overseas and a subdued trend in the equity market.

Forex dealers said the strengthening of the dollar against major currencies overseas and a lower opening in the domestic stock market mainly put pressure on the rupee.

The rupee ended 4 paise lower at Rs 45.01/02 against the American currency in the previous session on Friday on the back of demand from importers as the dollar gained in the global market.

Meanwhile, the Bombay Stock Exchange benchmark Sensex fell sharply by 219.10 points, or 1.19 per cent, to 18,106.99 in opening trade today.

Rupee down by 3 paise against US dollar in early trade

MUMBAI: The Indian rupee fell marginally by 3 paise to Rs 44.20 against the US dollar in early trade on the Interbank Foreign Exchange on Thursday, weighed down by a weak trend in the stock market, but steady FII inflows restricted the losses.

The rupee had strengthened by 25 paise to close at a five-and-half month high of Rs 44.17/18 per dollar in the previous session, buoyed by healthy capital inflows and sustained sale of dollars by exporters and corporates.

Forex dealers said the lower opening in the stock market mainly put pressure on the rupee sentiments.

Meanwhile, the Bombay Stock Exchangebenchmark Sensex fell by 69.21 points, or 0.33 per cent, to 19,542.99 in opening trade today.

timesofindia.indiatimes.com

Rupee gains 6 paise against US dollar in early trade

MUMBAI: The rupee strengthened by 6 paise to Rs 44.72 per dollar at the Interbank Foreign Exchange today, supported by a higher opening in the stock market.

However, the dollar's rise against other major currency rivals capped the rupee gains.

The rupee had appreciated by 5 paise to close at Rs 44.78/79 against the US currency in yesterday's trade amid bullish local equity markets and easing crude oil prices.

Forex dealers said a higher opening in the stock market helped the rupee gain some ground, but the dollar's strength against other currencies limited the gains.

Meanwhile, the Bombay Stock Exchange Sensex was up by 152.80 points, or 0.79 per cent, at 19,273.60 in opening trade today.

timesofindia.indiatimes.com