The Reserve Bank is planning to extend wholesale Central Bank Digital Currency (CBDC) for transactions for interbank borrowing or call money market, sources said on Tuesday. The pilot in the wholesale segment, known as the Digital Rupee -Wholesale (e-W), was launched on November 1, 2022, with the use case being limited to the settlement of secondary market transactions in government securities. "RBI is now planning to go into the interbank borrowing market.
The liquidity will move into deficit after advance tax payments and GST outflows. It will rebound in October because of government spending.
The Reserve Bank of India (RBI) on Monday did a four-day variable rate reverse repo (VRRR) auction to reduce liquidity in the banking system as the overnight money market rates fell below the repo rate, said market participants. The repo rate is 6.50 per cent. Banks parked Rs 18,750 crore at the auction against a notified amount of Rs 50,000 crore at a weighted average rate of 6.49 per cent.
The CSI300 of the leading Shanghai and Shenzhen A-share listings has lost almost 11 per cent this week.
And why markets could give up 25 per cent of all these gains made since March 2020
Exchange-traded currency derivatives volumes are likely to drop in view of new Reserve Bank of India (RBI) rules, casting a cloud over further participation of retail investors and proprietary traders. There are concerns that existing positions without any underlying exposure will need to be liquidated. Also, weighed down by dollar demand from local oil companies and weakness in its Asian peers, the rupee on Wednesday (April 3) ended at a new closing low of 83.44 versus the US currency.
The rupee depreciated by 9 paise and settled at its all-time low level of 83.13 against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency. Forex traders said the Indian rupee depreciated as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.
Opinions vary, but fund managers remain bullish.
The rupee gained 11 paise to 82.68 against the US dollar in early trade on Tuesday as the American currency retreated from its elevated levels. Forex traders said sustained foreign fund outflows weighed on the local unit and restricted the appreciation bias. At the interbank foreign exchange, the domestic unit opened at 82.69 against the dollar and marginally rose to 82.68, registering a rise of 11 paise over its previous close amid a positive trend in domestic equities.
The rupee plunged 61 paise to decline below the 83-mark for the first time against the US dollar on Wednesday amid unabated foreign capital outflows and a strong dollar in the overseas markets.
The rupee fell by 49 paise to close at 81.89 (provisional) against the US dollar on Monday as heavy selling pressure in the domestic equities and a spike in crude oil prices weighed on the local unit.
The interbank foreign exchange (forex), call money markets, cotton, metals, sugar and future trading in castor seeds will remained officially closed on Friday on the occasion of Ramnavami.\n\n\n\n
The rupee appreciated 6 paise to 78.27 against the US dollar in opening trade on Monday as heavy buying in domestic equities and weakness in the greenback strengthened investor sentiment. However, elevated crude prices and persistent foreign fund outflows restricted the rupee's gain, forex dealers said. At the interbank foreign exchange, the rupee opened sharply up at 78.24 against the US dollar, then inched lower to quote 78.27, registering a gain of 6 paise over the last close.
The rupee depreciated by 22 paise to close at a fresh lifetime low of 79.48 (provisional) against the US dollar on Monday, tracking a strong greenback overseas and subdued domestic equities. However, receding crude oil prices in the international market restricted the rupee's loss, forex traders said. At the interbank forex market, the local unit opened weak at 79.30 against the greenback and witnessed an intra-day high of 79.24 and a low of 79.49.
The rupee depreciated 31 paise to an all-time low of 80.15 against the US dollar in early trade on Monday tracking the strength of the American currency and firm crude oil prices. At the interbank foreign exchange, the rupee opened at 80.10 against the dollar, then lost ground to quote at 80.15, registering a fall of 31 paise from the last close. On Friday, the rupee closed at 79.84 against the dollar.
The rupee depreciated 22 paise to a record low of 78.59 against the US dollar in opening trade on Tuesday as persistent foreign funds outflows weighed on investor sentiments. At the interbank foreign exchange, the rupee opened on a weak note at 78.53 against the American dollar, then lost ground to quote at 78.59 -- its all-time low level, registering a fall of 22 paise from the last close. On Monday, the rupee declined by 4 paise to close at its life-time low of 78.37 against the US dollar.
The markets had touched their highest levels in a month.
The finance ministry on Monday said the ability of the Reserve Bank to intervene in the forex market to arrest the fall in rupee is limited, even as the Indian currency declined to a 32-month low of Rs 51.50 per US dollar in the early trade.
The rupee on Wednesday declined by 16 paise to close at its fresh lifetime low of 77.60 against the US dollar amid unabated foreign fund outflows and a stronger greenback in overseas markets. At the interbank foreign exchange market, the rupee opened lower at 77.57 and later hit the day's low of 77.61 as the dollar rebounded in global markets following hawkish comments from US Federal Reserve chief Jerome Powell. Crude oil prices also surged over 1 per cent, which weighed on the rupee.
The rupee on Thursday closed at its all-time low of 78.32 (provisional) against the US dollar as strong American currency and persistent foreign fund outflows weighed on investor sentiments. At the interbank foreign exchange market, the local currency opened at 78.26 and finally settled at its all-time low 78.32, unchanged from its previous close. On Wednesday, the rupee declined by 19 paise to settle at an all-time low level of 78.32 against the US dollar.
The rupee on Friday slipped 1 paisa to close at its all-time low of 78.33 (provisional) against the US dollar. At the interbank foreign exchange market, the local currency opened at 78.20 and finally settled at its all-time low of 78.33, down 1 paisa from its previous close. During the day, the local unit witnessed an intra-day high of 78.19 and a low of 78.35 against the American currency.
The rupee depreciated 40 paise to an all-time low of 81.93 against the US dollar in early trade on Wednesday as the strengthening of the American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and significant foreign fund outflows sapped investor appetite, forex traders said. At the interbank foreign exchange, the rupee opened at 81.90 against the greenback, then fell to 81.93, registering a fall of 40 paise over its previous closing.
The rupee declined by 10 paise to close at 79.23 (provisional) against the US dollar on Friday, tracking the strength of the American currency in the overseas market. At the interbank foreign exchange market, the local currency opened at 79.20 and finally ended at 79.23, down 10 paise over its previous close of 79.13. "Gains for the currency were short-lived even after RBI announced forex related measures. "Pound held on to its gains after Boris Johnson said he was quitting as prime minister following a rush of ministerial resignations and calls for him to go," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.
The rupee depreciated 44 paise and slipped below the 81-mark against the US dollar for the first time in early trade on Friday, weighed down by the strong american currency and risk-off sentiment among investors. Forex traders said escalation of geopolitical risk in Ukraine and rate hikes by the US Fed and Bank of England in a bid to contain inflation sapped risk appetite. Further, the strength of the American currency in the overseas market, a negative trend in domestic equities, and risk-off moods amid escalation of geopolitical risk in Ukraine weighed on the local unit.
The rupee depreciated by 37 paise to close at 79.62 against the US dollar on Thursday despite sustained foreign capital inflows and a positive trend in equities. At the interbank foreign exchange market, the local currency opened at 79.22 and saw an intra-day high of 79.22 and a low of 79.94 against the American currency. It finally ended at 79.62, down 37 paise over its previous close of 79.25.
The rupee slipped 13 paise to 77.67 against the US dollar in early trade on Tuesday, weighed down by the surge in crude oil prices. At the interbank foreign exchange, the rupee opened at 77.65 against the American dollar, then lost ground to quote at 77.67, registering a fall of 13 paise from the last close. On Monday, the rupee settled at 77.54 against the US dollar.
The rupee plunged 58 paise to close at an all-time low of 81.67 (provisional) against the US dollar on Monday as the strengthening of the American currency overseas and risk-averse sentiment among investors weighed on the local unit. Moreover, escalation of geopolitical risks due to conflict in Ukraine, a negative trend in domestic equities and significant foreign fund outflows sapped investor appetite, forex traders said. At the interbank foreign exchange market, the local currency opened at 81.47, then fell further to close at an all-time low of 81.67 against the American currency, registering a decline of 58 paise over its previous close.
Analysts are divided on their retail price inflation forecast, with some saying the first quarter numbers will overshoot the RBI target by as much as 60 bps while others are softer in their estimate. Consumer price inflation retreated from its 15-month peak of 7.4 per cent in July to 6.8 per cent in August, much lower than the market expectations, despite vegetable prices remaining elevated at 26.1 per cent. Food inflation eased to 9.9 per cent from 11.5 per cent, led by some cooling of inflation in vegetables, cereals, pulses and milk.
The rupee weakened by 14 paise to close at a new lifetime low of 79.59 against the US dollar on Tuesday as a strong greenback overseas and persistent foreign fund outflows continued to weigh on investor sentiment. This comes a day after the RBI announced measures for international trade settlement in rupees. At the interbank forex market, the local unit opened weak at 79.55 against the greenback and witnessed an intra-day high of 79.53 and a low of 79.66.
The rupee depreciated 7 paise to an all-time low of 80.05 against the US dollar in early trade on Tuesday tracking the strength of the American currency and firm crude oil prices. At the interbank foreign exchange, the rupee opened at 80 against the American dollar, then lost ground to quote at 80.05, registering a fall of 7 paise from the last close. In initial trade, the local unit also touched 79.90 against the American currency.
For the first time, the rupee declined to the low level of 80 against the US dollar in intra-day spot trading on Monday before ending the session 16 paise lower at 79.98 amid a surge in crude oil prices and unrelenting foreign fund outflows. At the interbank forex market, the local unit opened at 79.76 against the greenback but lost ground to touch the psychological low mark of 80 against the American currency. The local unit clawed back some lost ground and closed at 79.98, registering a fall of 16 paise over its previous close.
The rupee fell by 41 paise to close at a fresh lifetime low of 79.36 (provisional) against the US dollar on Tuesday amid a strong greenback overseas and unrelenting foreign fund outflows. At the interbank forex market, the local unit opened at 79.04 against the greenback and witnessed an intra-day high of 79.02 and a low of 79.38. It finally settled at 79.36 (provisional), down 41 paise over its previous close.
The interbank foreign exchange, call money as well as major essential commodities markets like sugar, edible oils, cotton, metals and bullion will remain officially closed on Wednesday on the occasion of Gudi Padwa.
The rupee extended its losses and slumped 10 paise to close at a record low of 77.72 (provisional) against the US dollar on Thursday, weighed down by a negative trend in domestic equities and unabated foreign fund outflows. At the interbank foreign exchange market, the rupee opened lower at 77.72 against the greenback, and finally settled for the day at 77.72, down 10 paise over its previous close. During the trading session, the rupee touched an intra-day low of 77.76 and a high of 77.63.
Those who consider the rupee as a proxy for virility have started thumping their chests and dreaming of dethroning the dollar from its coveted position, observes Tamal Bandyopadhyay.
The rupee depreciated further by 13 paise to hit a new life-time closing low of 82.30 against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and elevated crude oil prices sapped investor appetite, forex traders said. At the interbank foreign exchange market, the local currency opened at 82.19, then fell further to 82.43. It finally settled at an all-time low of 82.30 against the American currency, registering a decline of 13 paise over its previous close.
Lower crude oil prices and a rally in domestic equities restricted the losses to some extent, forex dealers said. At the interbank foreign exchange market, the domestic currency opened weak at 79.50 per dollar.
The rupee depreciated 11 paise to a record low of 78.96 against the US dollar in opening trade on Wednesday, weighed down by persistent foreign capital outflows. At the interbank foreign exchange, the rupee opened on a weak note at 78.86 against the American dollar, then lost ground to quote at 78.96 -- its all-time low level, registering a fall of 11 paise from the last close. On Tuesday, the rupee plunged by 48 paise to close at record low of 78.85 against the US dollar.
The rupee on Friday rebounded from the near-80 levels to close higher by 17 paise at 79.82 against the US currency following a recovery in the domestic stocks and weakness in the greenback in overseas markets. The US dollar retreated from the two-decade high levels against a basket of six currencies which supported the rupee sentiment. At the interbank foreign exchange market, the local currency opened at 79.95 and witnessed an intra-day high of 79.82 and a low of 79.96 against the US dollar in the day trade. ,
The rupee extended its losses and slipped 12 paise to 77.74 against the US dollar in early trade on Thursday, weighed down by a muted trend in domestic equities and unabated foreign fund outflows. At the interbank foreign exchange, the rupee opened at 77.72 against the American dollar, then lost ground to quote at 77.74, registering a fall of 12 paise from the last close. On Wednesday, the rupee declined by 1?7 paise to close at its fresh lifetime low of 77.6?1 against the US dollar.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances