Synopsis Most of the revenues of the Indian IT sector comes from the US, followed by Europe. Hence, we will analyse the impact of the currency on the results of the top 4 IT companies based on market capitalisation — Tata Consultancy Services (TCS), Infosys, HCL Technologies (HCL Tech) and Wipro — both on the … Read more
The Indian rupee tested a series of record lows in recent weeks and Standard Chartered Plc. foresees more losses for the currency in the coming months. “The main two factors that are building up that can weaken the rupee are mainly on the worsening trade and capital flow dynamics,” Parul Mittal Sinha, head of India … Read more
India’s central bank appears to have ramped up intervention in the forwards market to slow the rupee’s decline and preserve its hard-earned reserves. The Reserve Bank of India has run down its forward-dollar book by $12 billion to $15 billion from about $64 billion at the end of April, according to estimates by DBS Bank … Read more