Showing results for "#forex"

19 forex trading platforms on ‘Alert List’

The Alert List contains the names of entities, which are neither authorised to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA)

The rupee was trading at 83.27 vis-a-vis the US dollar in pre-noon trade on Wednesday down from 83.25 in the previous session.

The dollar index last sat around 105.57, having lost over 0.5% in the previous session as U.S. Treasury yields tumbled.

A weak American currency against major rivals overseas also supported the domestic unit and restricted the fall, forex traders said.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell marginally by 0.06 per cent to 104.17

Rising crude oil prices and strengthening dollar, however, weighed on the Indian currency, according to forex traders.

An upward movement in crude prices also weighed on the domestic currency even as the inflow of foreign funds capped the fall, forex traders said.

In the previous reporting week, the overall forex reserves increased $1.85 billion to $595.05 billion.