Page 15 - Indian Rupee

Govt must curb non-essential imports to stem rupee fall: CEO poll

India Inc encourages FDI, raising dollar deposits from NRIs

US economy, geopolitics: Factors that could roil markets next quarter

With the rupee weakening against the US dollar, a more hawkish pivot by RBI is expected

Fall in forex reserves due to rupee depreciation not worrying, say experts

The decline in foreign exchange reserves of the country due to the depreciation of the rupee is not a worrying factor, and there is coverage for nine months of imports, experts said here on Thursday. The country's forex kitty continued its southward journey, with the overall reserves declining by USD 5.219 billion to USD 545.652 billion for the week ended September 16, the Reserve Bank of India had said. The reserves, which have been dipping as the central bank deploys the kitty to defend the rupee amid pressure caused majorly by global developments, had declined by USD 2.23 billion to USD 550.87 billion in the previous week. State Bank of India Group Chief Economic Adviser Soumya Kanti Ghosh said, "India's foreign exchange reserves have gone down from USD 630 billion to USD 550 billion. But is not a cause for concern as there is coverage for nine months of imports." However, he said the rupee should find some value. HDFC Bank Chairman Atanu Chakrabarty said India is not decoupled

Rupee appreciates 35 paise to 81.58 against US dollar in early trade

The rupee appreciated 35 paise to 81.58 against the US dollar in early trade on Thursday as the American currency retreated from its elevated levels. At the interbank foreign exchange, the domestic unit opened at 81.60 against the dollar, then touched 81.58, registering a gain of 35 paise over its previous close. In initial trade, the rupee also touched 81.75 against the American currency. On Wednesday, the rupee plunged below the 82-mark for the first time in intraday trade before settling 40 paise down at 81.93 against the dollar. According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the rupee opened stronger on Thursday, tracking the overnight weakness of the dollar and treasury yields. However, concerns on fiscal loosening and monetary tightening will keep the dollar supported and cap gains for the local currency. Most Asian and emerging market peers started weak on Thursday morning and will also cap gains in the rupee. "Investors now await the RBI's mon

Rupee trade: Understanding difference between Nostro and Vostro accounts

The RBI has allowed two Russian banks, Sberbank and JSC VTB, to open Vostro accounts for rupee trade. Read more to find out what a Vostro account is and how it is different from a Nostro account

Top Headlines: FinMin won't exhaust forex for rupee; govt extends PMGKAY

Amid fast-depleting forex reserves, the Finance Ministry signalled that it was not in favour of selling the dollar to defend any particular level of the rupee

RBI to hike repo rate by 50 bps for 3rd time in a row as rupee slumps

The Reserve Bank of India's six-member monetary policy committee will raise its repurchase rate by 50 basis points to 5.9%, according to 24 of 35 economists surveyed by Bloomberg as of Wednesday.

Rupee at another low of 81.94 per dollar as US Fed talks up rate hikes

RBI may have sold more than $1 bln in FX mkt, prevented rupee from breaching 82/$1

Silver lining for investors in international MFs as rupee plunges

Dollar gains help Nasdaq pip Nifty gains over a three-period

India FX reserves set to shrink further, stir memories of 2008 crisis: Poll

Those reserves are forecast to fall another $23 bn to $523 bn by the end of this year, according to the median forecast from a Sept. 26-27 Reuters poll of 16 economists

Rupee posts another new low against US dollar, but fares better than peers

The rupee's decline on Wednesday was less than that of other major Asian currencies, likely thanks to the RBI's intervention

Only request to PM Modi is to stop rupee from scoring century: Congress

?? The Congress on Tuesday attacked the Centre over the depreciating value of the rupee against the dollar and said the only request to Prime Minister Narendra Modi is to stop the rupee from scoring a century. The rupee appreciated 37 paise to 81.30 against the US dollar in early trade on Tuesday while consolidating in a narrow range and settling 9 paise higher at 81.58 (provisional) against the US dollar on Tuesday. Addressing a press conference at the party headquarters here, Congress spokesperson Supriya Shrinate said for the first time in history, the rupee is racing fast towards 82 against the dollar. "With Modi Ji's blessings, the rupee has become the weakest in history and he who claimed (before coming to power) the fall in the value of rupee is directly linked to fall in prime minister's credibility must realise his own credibility is in a bottomless pit," Shrinate said. Exactly a year ago, in September 2021, the value of the rupee was 73 against USD 1, which has now increa

Top headlines: Adani's $100-bn green energy push; Saab to produce in India

The group has earmarked 70 per cent of its new investments for energy transition space and infrastructure. "We are already the world's largest solar player, and we intend to do far more

Rupee inches up, likely delay in bond index inclusion caps gains

Reuters on Tuesday reported local govt bonds will likely only be included in the JPMorgan emerging market global index early next year as New Delhi still needs to address various operational issues

RBI may need to reload reserves as rupee falls further: HDFC economist

The Reserve Bank of India may need to find ways to replenish its foreign exchange reserves such as encouraging non-resident Indians to deposit more funds, as it looks to stabilise a depreciating rupee

As US dollar retreats, rupee rises 37 paise to 81.30 in early trade

The rupee appreciated 37 paise to 81.30 against the US dollar in early trade on Tuesday as the American currency retreated from its elevated levels. At the interbank foreign exchange, the domestic unit opened at 81.45 against the dollar, then touched 81.30, registering a gain of 37 paise over its previous close. On Monday, the rupee plunged 58 paise to close at an all-time low of 81.67 against the dollar. According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the rupee appreciated against the greenback as the dollar took a breather. According to experts, focus will now shift to RBI's meeting this week, with its decision due on Friday. "Most Asian and emerging market peers have started mixed, but a positive start in the equity futures could aid sentiments. The dollar index was marginally weaker, while the Euro, Sterling and the Yen strengthened against the greenback in this Tuesday morning trade," Iyer said. Meanwhile, the dollar index, which gauges the greenbac

Analysts see Rupee hitting 85 levels; Fibonacci charts, too, show weakness

As per the weekly Fibonacci chart, the Rupee can depreciate to 82 - 82.20 - 82.40 during the week. However, in case the currency sustains below 81.55-level a corrective move to 80.50 seems possible.

What are the implications of Rupee staying beyond 80?

The Indian rupee continued to depreciate as it hit the all-time low of 81.63 against the US dollar on Monday. Even though it doesn't spell bad news for all the sectors, what will be the implications?

Rupee loses 10% vs USD over a year, FX reserves fall to near 2-yr low

The rupee has depreciated 9.7 per cent against the dollar since September 2021

Rupee ends beyond 81 against dollar for the first time; lags EM peers

RBI may have sold around $1 bn, but experts see pace of intervention declining