Following a recovery in the dollar and weaker Chinese currencies, the Indian rupee concluded the prior week on a negative note. The local unit dropped for the second consecutive week to close at 82.77, the lowest level since February 2023. The rupee fell after reaching 82.50, despite significant inflows of foreign capital. Foreign institutions have…
Due to the dollar’s appreciation against other major currencies and persistent demand for the dollar from public sector banks acting on behalf of customers of oil marketing companies, the rupee (INR) fell on Tuesday, breaching the critical 82 level. The Indian rupee, which hit a two-week low, decreased 24 paise from the previous close of…
On the back of declining prices for manufactured goods and fuel, wholesale price-based inflation inched down to a 29-month low of 1.34 percent in March, despite rising food costs. The wholesale pricing index (WPI)-based measure of inflation has decreased for ten consecutive months, starting in March. From 3.85% in February to 14.63% in March 2022,…
Due to conflicting global indications, the gold rate is trading flat on Wednesday while the silver rate is down 0.48 percent. Gold April futures were down Rs 42 or 0.07% to Rs 57,441 per 10 kilos on the Multi Commodities Exchange. On the MCX, silver May futures were trading for Rs 321 less per kilogramme….
According to data provided by the Commerce Ministry on Tuesday, India’s wholesale inflation, which is based on the all-India Wholesale Price Index (WPI), decreased to 3.85 % in February from 4.73 % in January. This is less than the 4% prediction made by Reuters. The data made public indicate that the decrease in the rate…
According to RBI Monetary Policy Committee (MPC) member Jayanth R Varma, India’s economic development appears to be “extremely unstable” and may not be sufficient for the nation to meet the demands of its expanding workforce.In India, according to Varma, he anticipates that inflation would stay high in 2022–2023 but will sharply decline in 2023–2024. Nevertheless,…
To further lower prices, the government on Tuesday declared it would release an additional 20 lakh tonnes (lt) of wheat into the market through the open market sale system (OMSS). The notification is made one day before the following round of wheat auctions to sell 11.72 lt. As of now, it has been determined to…
Factory inflation, as assessed by the wholesale pricing index (WPI), decreased to 4.73 percent in January from 4.95 percent in December, following a different trend from retail inflation. Retail inflation based on the Consumer Price Index was reported by the National Statistical Office (NSO) as being 6.52 percent in January as opposed to 5.72 percent…
Retail inflation measured by the Consumer Price Index (CPI) surpassed the RBI’s upper tolerance level in January after dropping for the previous two months and increased from 5.72% in December to 6.5 percent. The more expensive cereals, along with spices and other food items, are one of the main causes of the increase to a…
Forward-looking polls from the Reserve Bank of India indicate a general improvement in the economy. While a survey of 40 professional forecasters on macroeconomic indicators predicted GDP growth of 6.6-7.2% for 2022–2023, a survey on the outlook for services and infrastructure revealed an improvement in the general business environment, with respondents especially upbeat about employment…
