NEW DELHI: Expectations that the country’s GDP would record growth in the third and fourth quarters of 2020-21 are getting stronger on account of various reforms undertaken by the government in the last ten months, PHDCCI said on Saturday. It said out of the 10 indicators of QET (Quick Economic Trends) of economic and business … Read more
Hyderabad: India now has forex reserves of over USD 590 billion, the highest ever, up by USD 119 billion over the previous year, while the external debt is USD 554 billion, making the country a “net creditor“, Minister of State for Finance Anurag Singh Thakur said here on Saturday. Speaking to media persons he said … Read more
A stable rupee also squeezed the chances of accretion in the currency and gold revaluation account (CGRA), even as there is debate on whether RBI should dig into this account to pay the government. Synopsis The returns for the Reserve Bank of India (RBI) are likely to be squeezed with investments in low yielding US … Read more
The rupee on Tuesday opened 12 paise higher at 73.37 against the US dollar tracking gains in the domestic equity markets, easing crude oil prices and weakness in the dollar index. On Monday, the local currency pared most of its gains in the latter half of the session following weakness in the domestic equities. Market … Read more
Mumbai: The rupee pared some of its initial losses and settled 3 paise down at 75.04 (provisional) against the US dollar on Tuesday, even as domestic equity market was trading with significant gains. The rupee opened weak at 75.13 at the interbank forex market, then pared some of its early losses to settle at 75.04 … Read more
Mumbai: The record high forex reserves of $516 billion, of which $81 billion added since governor Shaktikanta Das has assumed office, will help greater foreign fund inflows and lower the cost of overseas funds for corporates, says a report. Governor Das’ efforts since assuming office in December 2018, resemble those of the Bimal Jalan-YV Reddy … Read more
Mumbai: The rupee depreciated 9 paise to settle at 75.02 (provisional) against the US dollar on Wednesday tracking volatile domestic equities, rising crude oil prices and strengthening American currency. While foreign fund inflows supported the rupee, factors like strong dollar, volatile domestic equities and rising COVID-19 cases dragged the local unit down, Forex traders said. … Read more