Rupee volatility drives currency volumes on NSE to an all-time high

Rupee volatility drives currency volumes on NSE to an all-time high

A major reason for the decline in forex reserves is capital outflows by foreign portfolio investors who pulled out $ 21.43 billion since September 2021 as the US Federal Reserve started monetary policy tightening and interest rate hikes. The biggest fall was in March when FPIs pulled out $ 6.56 billion. The demand for dollars also remained high as the Russia-Ukraine war led to a spike in oil and commodity prices, apart from depreciation of other currencies. The valuation loss, reflecting the appreciation of the US dollar against major currencies, and decline in gold prices have also played a part in the decline in foreign exchange reserves. On Friday, the rupee slumped 57 paise touched a low of 76.96 – just below the all-time low of 76.97 — to close at 76.92 against the US dollar weighed down by a strong American currency overseas and firm crude oil prices. If the rupee slides further, the RBI will be forced to intervene in the forex market by selling dollars from its forex kitty, putting pressure on the total forex reserves.

I picked up the hobby of trading, as the years were passing I became completely dependent. The sell-off is likely to continue roiling the Indian equity markets on Wednesday as well with the SGX Nifty indicating a gap-down opening for the broader index with a loss of 101 points. A currency futures contract facilitates the purchase or sale of a currency in exchange for another at a fixed price for delivery on a future date.

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The table shows CFD and Forex trading hours by types of trading instruments. It is important to know that the server time of terminals is CET. For calculating local trading hours for all groups of instruments you need to choose your local time and day of the week.

Writing what I know continues to be more enjoyable than I ever dreamed possible, and I look forward to sharing all my learning experiences with my readers. Tranquil Trader is the pen name of a trader who has more than 15 years of experience in trading. I am an independent analyst and trader in the financial markets since 2004.

Economic affairs secretary Ajay Seth on Tuesday dismissed the concerns over depletion of forex reserve as “overblown” and said India has fairly large reserve to tide over the current situation. “The momentum of the last fiscal continues in this fiscal with net direct tax collection of Rs 7.04 lakh crore so far, which is a growth of 23 per cent over the same period last fiscal,” Gupta said. At the Finance Minister’s Award ceremony for CBDT officers, Gupta said the I-T e-filing portal has stabilised, and it has facilitated 5.83 crore tax return filing as of July 31. A record 72 lakh returns were filed on the portal on a single day.

“There has been a depletion as inflows have come down and trade deficit is higher…I don’t see this as a concern, India has fairly large reserves to tide over this situation,” Seth said. After hitting a record low at 81.67 against the dollar on Monday, the rupee recovered on Tuesday and closed at 81.58 against the greenback. CFD and Forex market hours mostly imply the operation hours of world trading markets – London Stock Exchange, New York Stock Exchange, Hong Kong Stock Exchange, Tokyo Stock Exchange and others. Since the markets are situated in various locations and time zones it becomes complicated to track trading hours of various instruments. The situation with currency pairs is easier, since they are not available only on weekends.

Markets in free fall: Why Sensex, Nifty tumbled today

As per official records, Abdeslam was found guilty of breaking and entering in February 2011. In February 2015, he was arrested by Dutch police and charged for possession of cannabis where he was fined €70. Born on September 15, 1989, in Brussels, Belgium, Abdeslam was born to immigrant parents who were living in Bouyafar, a small village in northern Morocco, before arriving in Brussels in the 1960s. Although the family resided in Belgium, they were all French nationals, having acquired French nationality from the time the parents lived in Algeria. According to Belgian newspaper Le Derniere Heure, he burnt down the family home at the age of 14. 6) No securities will be in ban on 6th October as per the data available on NSE.

  • The fund tries to hedge the risk against market volatility by employing alternative investment approaches, which are often riskier.
  • He was involved in renting cars, hotel rooms and flats for all involved in the terror strike.
  • This is especially important because thus traders are able to participate in online trading at peak hours and take full advantages of trading.
  • A hedge fund is an investment pool that is managed using a range of strategies to get higher returns than the markets.

Elsewhere in Asia, markets in Tokyo, Seoul, Shanghai were trading in the green, while Hong Kong quoted lower. E) Trading / Trading in “Options” based on recommendations from unauthorised / unregistered investment advisors and influencers. Shares of Spicejet slipped 4% intraday after India’s aviation regulator DGCA extended the 8-week restriction on its flight cap till October 29. This means Spicejet will be allowed to operate a maximum 50% of its flights. In another development, the carrier said a salary hike of 20% will be given to pilots in October 2022.

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The rupee has depreciated 8% against the dollar in the fiscal year to date. 1.64 trillion in September as the rupee weakened 3% to 81.86 a dollar, its sharpest monthly decline since March 2020, when the currency slid 4.85%. tradeallcrypto (xcritical) Having managed to successfully evade being captured by authorities for over four months, he was captured on Friday, March 18, 2016, in an anti-terror police raid on a flat located in the Molenbeek suburb in Brussels.

The corporate profit-to-GDP ratio rebounded to a 10-year high of 4.3 percent in 2022. While the Nifty-50 declined 15 percent from its October 2021 peak against a 20 percent decline in midcaps and 28 percent decline in smallcaps, the broader market has witnessed a much sharper sell-off. Sitharaman added saying India led the way towards an inclusive financial world. The government is moving very fast on solar and wind energy. FM Sitharaman also said that “will have to go back to coal for some time”.

Shares in the Asia-Pacific rose Tuesday as Japan’s inflation accelerated and China kept its loan prime rate on hold. Hong Kong’s Hang Seng index gained 0.91%, with the Hang Seng tech index up nearly 2%. The Shanghai Composite in mainland China rose 0.51% and the Shenzhen Component advanced 0.58%. Japan’s Nikkei 225 rose 0.34% on its return to trade after a holiday and the Topix gained 0.37%.

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India has outperformed key global markets in June’22 amid various challenges. Autos gained while Metals and Private Banks were top losers and 85 percent of BSE 200 constituents declined in June’22. Benchmark indices eked out gains for the second straight session as investors hoped that the US Federal Reserve will not be too harsh when it announces a key decision on Wednesday amid resilient economic activity back home. US markets were closed on Monday on account of the Labor Day holiday.

If not used in a disciplined way, they could lead to severe capital losses. Eight months after hitting a record high of $642.45 billion in September 2021, India’s foreign exchange reserves have now fallen below the $600 billion mark amid capital outflows and strengthening dollar. The benchmark indices, Nifty and Sensex, opened higher on Thursday following positive trends in global equity markets.

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A hedge fund is an investment pool that is managed using a range of strategies to get higher returns than the markets. The fund tries to hedge the risk against market volatility by employing alternative investment approaches, which are often riskier. Thus, they are only accessible to high-net worth individuals and institutional investors. A falling rupee also has a ripple effect on equity markets. As the rupee declines, foreign investors look to pull out funds from the Indian equities and move them to other countries like the US, leading to a sharp fall in the domestic equity markets. Last week, the US Federal Reserve made aggressive rate hike of 75 basis points.

However, a senior RBI official has already indicated that it does not want the forex reserves to fall below the $ 600 billion level. If the RBI gives preference to sustain the forex reserves level, there could be some rupee depreciation in the horizon, analysts said. Markets are likely to remain range bound ahead of the US Fed interest rate decision to be announced 21Sep . Even the Bank of England is likely to announce a 50bps rate hike to combat inflation and could keep global markets under pressure.

Production of rice, which is the most important kharif crop, is expected to decline by 6% as compared to last year to 104.9 million tonnes mainly due to deficient rainfall in key rice-producing states. Further, the total production of pulses and cotton What Javascript Framework Is The Best For My Project In 2021? is estimated at 8.3 and 34.1 million tonnes respectively. Meanwhile, sugarcane and maize could see record production at 465 million tonnes and 23.1 million tonnes. The latest SUVs launched by the company have seen strong demand from consumers.

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The unprecedented inflation is not homegrown but has been caused by several global factors, including supply chain disruption because of the pandemic and the Ukraine-Russia war, he said at the Ficci Leads 2022. Shares of construction firm Ashoka Buildcon rose by over 4.5% intraday following bounce trading strategy the announcement of a new order win. The new order comes from South Western Railway and is worth ₹258 crore. The project involves construction of a new broad-gauge line, including electrical and telecommunication works between Tolahunse and Bharmasagar stations in Karnataka.

Clickhereto join us on Telegram for trading and investment-related videos, daily market updates, details on upcoming IPOs and more. Back in 2020, I had the idea to write short eBooks containing trading strategies for the Equities, Forex, Cryptocurrency and Commodities Market. From my interaction with readers, the overall consensus has been largely appreciated and valued. It is always a good felling getting feedback from readers saying that they have found value in the contents of my books.

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This is an exclusive story available for selected readers only. The NSE directs all clients/members to trade in the derivative contracts of the aforementioned securities only to decrease their positions through offsetting positions. Japan’s Nikkei 225 fell 0.68 percent, while the Topix index slipped 0.67 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.18 percent. Currency futures contracts expire two working days before the last business day of every month.

Union Finance Minister Nirmala Sitharaman at an event said “We have brought paperless & cashless layer to the financial world. SIMPLY PUT – where we join the dots to inform and inspire you. Sign up for a weekly brief collating many news items into one untangled thought delivered straight to your mailbox. B) Trading in leveraged products /derivatives like Options without proper understanding, which could lead to losses.

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