On Friday, the Indian rupee saw its largest one-day gain in almost a year, supported by a steep decline in the value of the dollar, while bond prices dropped to their lowest levels in two and a half months, following declines in their American equivalents. Its highest single-day performance since August 27 of last year,…
The wholesale price-based inflation soften to a five-month low of 13.93% in July on easing prices of food articles and manufactured products. The WPI-based inflation softened for the second consecutive month in July, developing hopes of further decline in wholesale prices in the months to come. The Wholesale Price Index-based inflation, after scaling a record…
The Reserve Bank of India on Friday raised the repo rate by 50 basis points, the third straight increase since May in an effort to cool rigid high inflation and defend the rupee. The repurchase rate was raised by 50 basis points to lift the interest rate to the pre-pandemic level. The 5.40% repo rate was last…
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…
