Senior Congress leader Jairam Ramesh addressing the media at AICC, in New Delhi. File. | Photo Credit: Sushil Kumar Verma The Congress on March 24 targeted Prime Minister Narendra Modi on the issue of falling value of the Indian rupee against the U.S. dollar, and sought answers from him. Congress general secretary Jairam Ramesh said … Read more
India’s rupee will not drop past the 84-per-dollar mark even if the greenback strengthens further from current levels as the nation’s central bank will step in to defend the currency, according to Standard Chartered Plc. “The Reserve Bank of India has been protecting rupee from depreciating very sharply,” Parul Mittal Sinha, head of India financial … Read more
The Indian rupee on Tuesday saw its first gain in four sessions as a slightly weaker dollar and improving economic data supported the local currency.The rupee closed at 82.2050 against the U.S. dollar, up from 82.2950 in the previous session. The rupee had dropped to a six-week low of 82.3725 on Monday. The dollar, which … Read more
The Indian rupee will remain at its current level three months from now and gain only marginally by the end of February 2024, barely recouping any of its losses from last year, a Reuters poll of foreign exchange strategists found. The rupee has steadied after falling more than 10% in 2022, when it was one … Read more
Mumbai: The Indian rupee is likely to have seen the worst in 2022 and could start making a recovery in the new year, giving the Reserve Bank of India a chance to replenish its foreign exchange reserves kitty, a treasurer at told Reuters. “The growth differential and future prospects of better returns will give the … Read more
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
Pressure on the rupee is expected to ease soon with forward premiums likely rising from decadal lows after the Reserve Bank of India (RBI) this week signalled its intent of minimal future interventions in the currency-derivatives market by easing instrument-level curbs to encourage potential dollar inflows. The local unit advanced Thursday against the US dollar. … 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
NEW DELHI: The rupee continued its losing streak against the US dollar, weakening as much as 0.2 per cent on Friday as the greenback held firm ahead of the inflation data in the US, dealers said. Investors also squared off existing bets on the rupee on fear of overseas outflows from Indian equities amid signs … Read more
By Ronojoy Mazumdar The rupee’s outperformance last month that turned it into Asia’s best performer may be indicating the central bank’s higher tolerance for a stronger currency with the focus on curbing imported inflation, analysts said. The currency rallied 2% in May, the biggest monthly advance in more than two years, as Covid cases eased, … Read more