On Monday, the rupee lost 10 paise to settle at 82.31 (provisional) against the U.S. dollar as investor mood was dampened by the robust foreign exchange performance of the U.S. dollar and high crude oil prices. The rupee depreciated by 10 paise from its prior close of 82.21 to 82.31 (provisional) on the interbank foreign…
Sunil Barthwal, India’s secretary of commerce, stated on Friday that his country is willing to conduct business in dollars with nations who are having problems with their currencies or are short of dollars. The secretary also stated that the government is concentrating on improving the rupee payment system after the announcement of the Foreign Trade…
Tuesday, as the US dollar fell in the foreign exchange market, the rupee strengthened 15 paise to end the day at 82.16 (provisional). Global oil benchmark Brent crude futures decreased 0.42 percent to USD 77.79 per barrel. At the interbank foreign exchange market, the local unit started out at 82.20 against the dollar and ultimately…
Rupee remained unchanged on Tuesday and ended the day at 82.6662 versus the dollar. The Indian rupee has essentially been flat over the previous week, as we predicted. This happened in spite of solid foreign investment and falling crude oil prices. The net inflows of foreign portfolio investors were close to $600 million in the previous…
The Reserve Bank of India’s (RBI) data supplement revealed on Friday that foreign exchange reserves dropped $2.4 billion to $560 billion for the week ending March 10, its lowest level since early December. After dropping steadily during the whole month of February, the foreign exchange reserves increased $1.45 billion to $562.4 billion last week. According…
The Indian rupee fell against the dollar on Thursday as worries over a European lender dampened overall risk sentiment, but it still managed to hold onto the higher side of a previous resistance level of 82.80. Compared to its previous closing of 82.59, the rupee closed the day at 82.73 to the dollar. Traders reported…
According to the finance minister, the amount of money in circulation increased from Rs 13 lakh crore in 2014 to Rs 31.33 lakh crore in March 2022. As of March 25, 2022, the currency in circulation which includes banknotes and coins—to GDP ratio was 13.7%, up from 11.6% in March 2014. The amount of money…
The Indian rupee recorded the second weekly gain and best performance after the Chinese yuan due to foreign fund inflows, an increase in risk appetite as a result of foreign investors buying Adani group stock. Spot rupee increased by over one percentage point to close just above 82. The S&P 500 saw its first weekly…
Mumbai, Early on Monday, the rupee lost 19 paise to trade at 82.94 against the US dollar as a result of a strong US dollar and a flat domestic equity market. At the interbank foreign exchange, the local unit started out weakly versus the dollar at 82.87, then declined further to 82.94, losing 19 paise…
Despite government efforts, rupee trade has not taken off. The exchange rate mechanism and money repatriation are experiencing teething problems, according to officials from the ministry of trade. According to a representative of the trade ministry, “It hasn’t really taken off, but there are isolated situations where banks have started it.” India hasn’t, however, formally…
