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Sep 19, 2013

Rupee rallies to one-month high, trading around 61.95 per dollar

MUMBAI (Reuters) – The rupee surged as much as 2.8 percent on Thursday, hitting its highest in a month, as the U.S. Federal Reserve’s decision not to dial back its easy money policy is expected to provide a reprieve to the Reserve Bank of India (RBI) in its policy making.

The rupee and the Indonesian rupiah stand to gain the most if foreign funds return to riskier assets in the wake of the Fed’s surprise decision. Both bore the brunt of the recent sell-off in emerging market currencies since the Fed bank signalled in May that it may begin tapering stimulus this year.

Sep 19, 2013

Indian rupee rallies to 1-mth high; Fed move seen helping RBI policy

MUMBAI, Sept 19 (Reuters) – The Indian rupee surged as much
as 2.8 percent on Thursday, hitting its highest in a month, as
the U.S. Federal Reserve’s decision not to dial back its easy
money policy is expected to provide a reprieve to the local
central bank in its policy making.

The rupee and the Indonesian rupiah stand to
gain the most if foreign funds return to riskier assets in the
wake of the Fed’s surprise decision. Both bore the brunt of the
recent sell-off in emerging market currencies since the Fed bank
signalled in May that it may begin tapering stimulus this year.

Sep 16, 2013

Government bonds gain; August inflation muddies water for RBI

MUMBAI (Reuters) – Government bonds rose on Monday, tailing gains in the rupee, but a sharp rise in inflation dented sentiment ahead of the RBI’s policy review later this week.

Yields rose sharply after data showed that headline inflation in August rose to a six-month high, further complicating policy making for the new central bank governor Raghuram Rajan.

Sep 13, 2013

Rupee sees best week in 15 months; Fed meet key

MUMBAI (Reuters) – The rupee gained marginally on Friday, wrapping up its best week in nearly fifteen months as foreign funds flowed into equities on the back of a rebound in risk assets as geopolitical risks abated.

The focus is now squarely on the U.S. Federal Reserve’s meeting on September 17-18 at which it is expected to announce a trimming of its bond buying.

Sep 13, 2013

India rupee sees best week in 15 months; FOMC meet key

MUMBAI, Sept 13 (Reuters) – The Indian rupee gained
marginally on Friday, wrapping up its best week in nearly
fifteen months as foreign funds flowed into equities on the back
of a rebound in risk assets as geopolitical risks abated.

The focus is now squarely on the U.S. Federal Reserve’s
meeting on Sept 17-18 at which it is expected to announce a
trimming of its bond buying.

Sep 12, 2013

Rupee ends at 63.5, snaps five days of gains

MUMBAI (Reuters) – The rupee fell on Thursday, ending five days of gains, as state-run banks likely bought dollars to meet defence needs of the government and as investors booked profit in shares.

Dealers cited RBI intervention to support the rupee as it approached 64 to the dollar.

Sep 12, 2013

India rupee snaps 5 days of gains; defence buying seen

MUMBAI, Sept 12 (Reuters) – The Indian rupee fell on
Thursday, ending five days of gains, as state-run banks likely
bought dollars to meet defence needs of the government and as
investors booked profit in shares.

Dealers cited central bank intervention to support the rupee
as it approached 64 to the dollar.

Sep 11, 2013

Rupee extends gains; up 5.8 percent in five sessions

MUMBAI (Reuters) – The rupee rose to a three-week high on Wednesday, extending gains for a fifth session, with corporates selling the dollar as the Indian currency continued its recovery.

The rupee’s sharp recovery has been aided by the easing of geopolitical concerns, with an attack on Syria appearing less imminent, and the announcement of a series of steps to attract inflows by the new central bank Governor, Raghuram Rajan.

Sep 11, 2013

Indian rupee gains for a fifth day; corporates sell dollars

MUMBAI, Sept 11 (Reuters) – The rupee rose to a three-week
high on Wednesday, extending gains for a fifth session, with
corporates selling the dollar as the Indian currency continued
its recovery.

The rupee’s sharp recovery has been aided by the easing of
geopolitical concerns, with an attack on Syria appearing less
imminent, and the announcement of a series of steps to attract
inflows by the new central bank Governor, Raghuram Rajan.

Sep 10, 2013

Indian rupee, shares rally as trade deficit narrows

MUMBAI/NEW DELHI (Reuters) – Investors tentatively bet the worst may be over for the Indian rupee on Tuesday as the currency rallied to a two-week high and shares surged on the back of improving global market sentiment, while data showed the country’s trade deficit narrowed sharply.

Surging exports led the trade deficit in August to narrow to a five-month low of $10.9 billion (6.9 billion pounds), providing a rare bright spot after a tough few months for Asia’s third-largest economy, which saw the rupee tumble to a record low of 68.85 on August 28.