The Indian Rupee has been on a climb since last Thursday against the U.S. dollar. On Tuesday, the domestic currency gained 0.4 percent to close at 78.72. Thus, the year to date loss of INR versus USD is now down to 5.9 percent. The gain was largely due to the weakness in the dollar over…
The Indian rupee touched a new record low mark of 80 against the U.S. dollar today. Sentiment has been hit hard for the rupee as an unusual surge in U.S. inflation secured expectations that the Federal Reserve would hike policy rates by a record margin later this month and make the dollar the highest returning…
The Indian rupee (INR) decreased further on Tuesday against the U.S. dollar and hit a new low of 79.66 before closing the day at 79.60. The Indian rupee has lost a little over 7% for the year. On the one hand, the rising dollar is weighing on the rupee, and on the other, the continuous…
The rupee depreciated 22 paise to a record low of 78.59 against the U.S. dollar in early trade on Tuesday as continuing foreign funds outflows weighed on investor sentiments. At the interbank foreign exchange, the rupee opened on a weak note at 78.53 against the American dollar, then lost ground to quote at 78.59 its…
The Reserve Bank of India’s monetary policy committee (MPC) in its June meeting raised the repo rate for a second straight month and stated that it would now focus on withdrawal of accommodation while dropping all mention of an accommodative stance from its script. The MPC collectively raised the repo rate by 50 basis points…
The RBI’s policy decision would be the major event driving trading sentiment in the equity market this week, while global cues, foreign funds movement and crude oil prices will be the other key factors to watch out for, analysts said. Markets have been witnessing a rebound recently. However, the move lacks determination amid remaining challenges like…
Indian rupee gains 4 paise to 77.62 against the U.S. dollar in opening trade on Monday, supported by a weak American currency in the overseas markets. However, muted domestic equities, uplifted crude oil prices and persistent foreign fund outflows controlled the rupee’s rise, foreign exchange traders said. At the inter-bank foreign exchange, the rupee opened…
The Reserve Bank of India (RBI) on Wednesday cancelled the certificates of registration (CoRs) of five Non-Banking Financial Companies (NBFCs) who had been offering their services through app-based platforms. The regulator mentioned irregular lending practices of the companies as the reason for its action. “The CoR of the Five NBFCs have been cancelled on account…
The Monetary Policy Committee (MPC) on Wednesday collectively voted to increase the policy repo rate by 40 basis points from 4% to 4.40% with an immediate effect, in a clear indication that inflation may be curving to higher levels than expected. The move came a few hours ahead of the Federal Reserve’s rate decision on…
Inflation based on Wholesale Price Index (WPI) increased to a four month high of 14.55 % in March, mirroring a broad-based spike in global commodity prices, especially oil in the wake of the Russia-Ukraine crisis, showed official data released on Monday. There was some softening in food articles month-on-month led by vegetables and pulses, though…
