Latest news with #VRR
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Business Standard
9 hours ago
- Business
- Business Standard
Rupee weakens to over four-month low on importers' US dollar demand
The rupee weakened to a more than four-month low on Tuesday, weighed down by strong dollar demand from importers ahead of month-end payment obligations. Dollar purchases by state-owned banks further pressured the local currency, said dealers. Sentiment was also dampened by uncertainty over the outcome of US–India trade negotiations, with the approaching 1 August deadline adding to investor caution. The rupee settled at 86.82 per dollar, its lowest level since 13 March this year, when the domestic currency had breached the 87-per-dollar mark. On Monday, the rupee had settled at 86.67 per dollar. 'There was importer demand for dollars. Some PSU banks were also buying,' said a dealer at a private bank. 'The sentiment has been down for the past two weeks now because of uncertainty around trade deals with the US,' he added. The rupee has depreciated by 1.37 per cent so far in the current month, and 3.74 per cent against the greenback in the calendar year to date. 'Foreign portfolio outflows put pressure on the rupee. There is resistance seen at 86.90 per dollar, with the RBI containing the excess volatility,' said the treasury head at a private bank. Meanwhile, the Reserve Bank of India (RBI) received bids worth Rs 46,058 crore against a notified amount of Rs 50,000 crore at the three-day Variable Rate Reverse Repo (VRRR) auction. The central bank accepted the bid amount at a cut-off rate of 5.49 per cent. 'The amount of bids was on expected lines,' said a dealer at a state-owned bank. 'The amount was lower compared to previous auctions; hence, it was almost absorbed,' he added. In the money markets, the weighted average overnight call rate—the operating target of monetary policy—rose to 5.38 per cent from the previous day's 5.35 per cent. The overnight triparty repo (TREPS) rate settled at 5.30 per cent, against 5.26 per cent on Monday. Net liquidity in the banking system stood in surplus at Rs 2.23 trillion on Monday, according to the latest RBI data. 'The aim is to keep rates between the SDF and the repo rate. The overnight TREPS rate was again trading near the SDF. To avoid further decline, the RBI came up with the small VRRR auction, like they did with the VRR when the rates moved beyond the MSF,' said a dealer at a primary dealership. The RBI had conducted two Variable Rate Repo (VRR) auctions in the past week after overnight money market rates rose beyond the repo rate. The RBI's VRR auctions led to a decline in these rates, which had been trading above the MSF rate of 5.75 per cent. The marginal standing facility (MSF) rate, set 25 basis points above the policy repo rate, acts as the ceiling of the liquidity adjustment facility (LAF) corridor. The standing deposit facility (SDF), 25 basis points below the repo rate, is the floor. The policy repo rate is currently at 5.5 per cent.
Time of India
5 days ago
- Business
- Time of India
RBI begins fine tuning rates by conducting simultaneous VRR and VRRR auctions
The Reserve Bank of India will conduct a variable rate reverse repo (VRRR) operation on Friday, with an aim to absorb Rs 1.25 lakh crore This comes just after the RBI conducted a two day variable rate repo (VRR) operation and injected Rs 50,000 crore into the banking system on Wednesday and an overnight VRR operation on Thursday. Explore courses from Top Institutes in Please select course: Select a Course Category Degree others PGDM Others CXO Artificial Intelligence Management Product Management MCA Leadership Finance Operations Management Data Science MBA healthcare Public Policy Healthcare Cybersecurity Project Management Data Science Data Analytics Technology Design Thinking Digital Marketing Skills you'll gain: Data-Driven Decision-Making Strategic Leadership and Transformation Global Business Acumen Comprehensive Business Expertise Duration: 2 Years University of Western Australia UWA Global MBA Starts on Jun 28, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Man Revealing His Strategy To Earn Upto 3K-5K Daily Income thefutureuniversity Learn More Undo The two-day VRR operation was over-subscribed amid a temporary shortage of funds, which pushed call rates to 5.73% on Wednesday, 23 basis points above the repo rate. The overnight VRR operation received tepid demand as the call rate softened to 5.54% on Thursday, CCIL data showed. Banking system liquidity stood at a surplus of Rs 2.17 lakh crore as of Wednesday, and at Rs 2.42 lakh crore as of Tuesday, RBI data showed. Money market participants will also bid in a government securities auction on Friday.
Economic Times
5 days ago
- Business
- Economic Times
RBI to conduct Rs 1.25 lakh-crore VRRR
The two day VRR operation was over-subscribed amid a temporary shortage of funds, which pushed call rates to 5.73% on Wednesday, 23 basis points above the repo rate. Synopsis Reserve Bank of India will conduct a variable rate reverse repo operation on Friday. The aim is to absorb ₹1.25 lakh crore from the market. This follows a recent injection of ₹50,000 crore into the banking system through a two-day variable rate repo. An overnight VRR operation was also conducted on Thursday. RBIVRRRbankingfundsrepo rate Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
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Business Standard
5 days ago
- Business
- Business Standard
RBI sees tepid demand at overnight VRR Auction ahead of ₹2 trn reversal
The Reserve Bank of India received tepid demand at its overnight Variable Rate Repo (VRR) auction on Thursday, with bids amounting to Rs 1,421 crore against a notified amount of Rs 50,000 crore. Market participants said that the bids were lower because of the reversal of VRRR funds worth Rs. 2 trillion on Friday. 'It was an overnight auction, and there is a reversal of Rs 2 trillion tomorrow (Friday), that's why there was no demand at the VRR auction,' said V R C. Reddy, head of treasury at Karur Vysya Bank. 'The RBI may have anticipated that overnight rates would remain elevated today, which likely prompted the auction. Their objective is to keep the overnight rate within the Standing Deposit Facility (SDF)–repo corridor, and not near the Marginal Standing Facility (MSF),' he added. The marginal standing facility rate, set 25 bps above the policy repo rate, is the ceiling of the liquidity adjustment facility corridor. The standing deposit facility, which is 25 bps below the repo rate, is the floor. The policy repo rate is currently at 5.5 per cent. The RBI's two-day VRR auction conducted on Wednesday led to a decline in overnight money market rates, which had been trading above the MSF rate of 5.75 per cent. Market participants said that fine-tuning via VRR auctions became necessary due to the large withdrawal during a week of liquidity stress. Next week, the RBI may not need a VRR because government spending typically picks up in the last week of the month, they said. 'The banks needed funds after parking Rs 2 trillion at the seven-day VRRR auction last Friday; hence the VRR auction was conducted,' said the treasury head at a private bank. 'Next week, when government spending kicks in, we won't need VRRs,' he added. After government spending resumes in early August, VRRRs are expected to continue given the significant surplus liquidity in the banking system, said market participants. The net liquidity in the banking system was in a surplus of Rs 2.17 trillion on Wednesday, the latest data from the RBI showed.
Yahoo
16-07-2025
- Automotive
- Yahoo
Cyberpunk 2077's latest update brings VRR to consoles and introduces an autodrive mode
There's another big update for Cyberpunk 2077 coming our way. Update 2.3 brings some notable new features to PC and consoles. CD Projekt Red (CDPR) is adding official in-game support for VRR on PS5 and Xbox Series X/S. This should help with screen tearing when the frame rate drops and is of particular use when running the game in performance mode. There's also an official AutoDrive feature, which is something that has long-existed in the modding community. This is available in all cars and motorcycles and lets players drive from place to place automatically. Just set the destination marker and let the game do the rest. This isn't teleportation. The vehicle still drives, it does just so automatically. With AutoDrive enabled, players can turn on a "cinematic camera" to make the journey a bit more visually stimulating. There's even a new "wandering" mode for aimless joyrides, for those who just want to experience the splendor of Night City and its environs. Speaking of driving, the update also brings four additional vehicles to the game, and they all look to be attached to new side jobs. More content is always appreciated. PC players are getting support for AMD FSR 3.1, Intel XeSS 2.0 and HDR 10 Plus. AMD's FSR 4 is also being added, but it requires a specialized driver that isn't available yet. CDPR says it's coming at a "later date." The update drops on July 17, which is the same day the Cyberpunk 2077: Ultimate Editioncomes to Mac computers. It looks like the Mac version will include these new features. Update 2.3 is coming to the Switch 2, but not just yet. Cyberpunk 2077was a launch title for the recently-released console.
