Forex Update

RBI fixed reference rate for US dollar at 39.82

Exporters can soak up Strengthening of Rupee upto Rs. 42/Dollar - IIFT

Forex Update
Kolkata: An IIFT functionary said that exporters will be hurt with the continuing rupee appreciation as against the USD dollar as they could soak up the exchange shock only upto Rs 42 per dollar.

Indian Institute of Foreign Trade director K T Chacko, said, “To our understanding exporters can absorb exchange shock upto Rs 42 for a dollar while now has breached the Rs 40 mark.”

Rupee Lingers Around 9-Year Peak On Strong Capital Inflows

Mumbai: The rupee marched near to a fresh nine-year peak today, hiked up by strong capital inflows, but caution the RBI may interfere checked the rupee’s increase.

In early trading, the partially convertible rupee stood at 39.88/89 per dollar, barely changed from its last close of 39.89/90 and in sights of 39.85 its record since May 1998.

A market dealer said, “These are good levels to take some profits as the rupee has rallied quite a lot this week.”

Finally, Rupee Reaches Its 9-Year Peak

US Dollar DropsMumbai: The rupee beefed up past 40 per dollar today for the first time in

Fed Move Brings Rupee Near Its 9-Year High

Mumbai: The rupee arose in the direction of a nine-year peak today after the US Federal Reserve slashed rates sending securities higher across Asia, but dollar buying by state-run banking institutions and a local company reduced a few gains.

The Fed cut on Tuesday the prime federal funds target rate by 50 basis to 4.75% from 5.25%. It also slashes the discount rate that it charges for direct loans to banks by a half-point to 5.25%.

Fed Rate Cut Affects Dollar’s Status

New York: The U.S.