Page 23 - Indian Rupee
Top headlines: FRL to go under insolvency at NCLT; Wipro Q1 net falls 21%
Business Standard brings you the top headlines this hour
 "Top headlines: FRL to go under insolvency at NCLT; Wipro Q1 net falls 21%")
Rupee closes below 80 mark for first time against dollar
The rupee declined 13 paise to close below the 80 mark for the first time against the US currency on Wednesday due to strong dollar demand from importers amid high crude oil prices. At the interbank foreign exchange market, the local currency opened at 79.91 and later slid to a low of 80.05 to a dollar. The rupee traded in a range of 79.89 to 80.05 in the day trade. It finally settled at the day's low level of 80.05, showing a loss of 13 paise over the previous close. On Tuesday, the rupee recovered from its all-time low of 80.05 to close 6 paise higher at 79.92 against the US dollar following forex inflows and suspected RBI intervention. Forex traders said significant dollar demand from oil importers, firm crude oil prices as well as concerns about swelling trade deficit weighed on investor sentiments. "Overall gains in crude in the last few days where Brent has risen again above USD 105 and lack of intervention from RBI has kept the rupee hovering around 80.00. Going ahead rupee
 "Rupee closes below 80 mark for first time against dollar")
Amid hiked dollar demand from oil importers, rupee falls 4 paise to 79.96
The rupee depreciated 4 paise to 79.96 against the US dollar in opening trade on Wednesday amid demand for dollar from oil importers and firm crude oil prices
Top Headlines: Rupee breaches 80/$ for 1st time, Right to Repair, and more
The rupee on Tuesday weakened past 80 per dollar for the first time but went on to recover lost ground
 "Top Headlines: Rupee breaches 80/$ for 1st time, Right to Repair, and more")
Rupee at 80: Signs of lower FY23 GDP and corporate sector growth
The correlation coefficient between the year-on-year (YoY) change in corporate sector revenue and the rupee exchange rate is minus 0.63 since 2003-04 (FY04)
 "Rupee at 80: Signs of lower FY23 GDP and corporate sector growth")
With rupee at 80, how to tackle cost of studying and travelling abroad
Education consultants advise parents to prepare for at least 2% annual increase in costs for children abroad
 "With rupee at 80, how to tackle cost of studying and travelling abroad")
Indian defence firms seek protection from exchange rate variation
India's private defence firms had last campaigned for ERV protection after being bruised by the rupee's fall from Rs 44 a dollar in October 2010 to below Rs 56 just a few months later
 "Indian defence firms seek protection from exchange rate variation")
Rupee breaches 80/$ for first time, settles at 79.95 after RBI intervention
The rupee has depreciated 7.01 per cent against the dollar this year
 "Rupee breaches 80/$ for first time, settles at 79.95 after RBI intervention")
Rupee at 80: Little relief on the cards from high trade deficit
Due to global risk aversion on the back of geo-political tensions and aggressive policy tightening by the Fed, the dollar has appreciated against most currencies, including the rupee
 "Rupee at 80: Little relief on the cards from high trade deficit")
Rupee fall likely to hit govt finances with ballooning subsidy bill
The finance ministry has hinted that India's fertiliser subsidy bill for 2022-23 (FY23) could rise to around Rs 2.5 trillion against Budget Estimates (BE) of Rs 1.05 trillion
 "Rupee fall likely to hit govt finances with ballooning subsidy bill")
Rupee at 80 to the dollar: IT services and tech industry to get a leg up
As the rupee touches 80 to the dollar, the extent of gains for Indian companies may differ basis their exposure to non-US regions and the performance of their currencies
 "Rupee at 80 to the dollar: IT services and tech industry to get a leg up")
Rupee at 80 to the dollar: Forex deficit to hurt India Inc's margins
As the rupee touches the 80-mark against the dollar, this depreciation is likely to prove expensive for corporate India
 "Rupee at 80 to the dollar: Forex deficit to hurt India Inc's margins")
Rupee at 80: How top Indian companies hedged themselves for dollar
Reliance Industries, the Tata group, Bharti Airtel, Aditya Birla among conglomerates that took forward positions
 "Rupee at 80: How top Indian companies hedged themselves for dollar")
Caution over rupee
RBI must keep an eye on its reserves as dollar strengthens
 "Caution over rupee")
No need to be 'overtly' worried about fall in rupee: DEA Secretary
The Indian currency, he said, has appreciated against several global currencies like British Pound, Japanese Yen and Euro.
 "No need to be 'overtly' worried about fall in rupee: DEA Secretary")
Rupee at 80: How have other currencies performed in the last six months
The Sri Lankan rupee has fallen over 66 per cent against the rupee in the last six months. It was trading at 2.7 per INR on January 19 and has fallen to 4.5 on July 19
Rupee breaches 80: Watch out these levels on forex-sensitive Infy, IndiGo
Among select export-oriented shares, Aurobindo Pharma seems well placed on the charts with a potential upside of 9 per cent in the near term.
Rupee at 80: Textiles, gems & jewellery upbeat, but gains may not sustain
Textile industry players indicate that the weak rupee will help the industry, which is a net exporter, to the extent of 5-10 per cent rise in profit margins
 "Rupee at 80: Textiles, gems & jewellery upbeat, but gains may not sustain")
Rupee declines to record low of 80.01 to a dollar as foreign funds exit
The currency has been buffeted by nearly $30 billion of foreign outflows from the nation's equities so far this year -- a record sum
 "Rupee declines to record low of 80.01 to a dollar as foreign funds exit")
Rupee closes just 2 paise shy of 80 against US dollar as oil prices rise
Crude oil prices jumped on Monday as US President Joe Biden's talks with West Asian countries failed to culminate in an agreement to increase output
 "Rupee closes just 2 paise shy of 80 against US dollar as oil prices rise")
