As the US Federal Reserve’s hawkish stance triggered a broad dollar rally, the rupee fell 12 paise to its lowest point ever, 85.06, against the US dollar in early trading on Thursday. Forex dealers reported that the US Federal Reserve had changed its 2025 forecasts, indicating a more cautious approach to monetary policy and putting…
In the week ending November 22, India’s foreign exchange (forex) reserves fell to USD 656.582 billion for the eighth consecutive week, according to the Reserve Bank of India (RBI). The foreign exchange reserves are in a downward phase after reaching an all-time high of USD 704.89 billion in September. They fell by around USD 1.31…
According to government statistics, foreign direct investment in India increased by 45% yearly to USD 29.79 billion from April to September of this fiscal year due to robust computer, telecom, pharmaceutical, and services inflows. From April to September of 2023–2024, FDI inflows totaled USD 20.5 billion. Compared with USD 9.52 billion in the same quarter…
For the third day in a row, the rupee continued to gain strength and in early trade on Thursday it gained 2 paise to 83.30 against the US dollar, following encouraging signals from the equity markets and the continued inflow of foreign funds. Crude oil prices, according to forex dealers, were restrained by the significant…
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…
The rupee avoided its first weekly fall in four weeks last week as a result of weaker regional currencies and a withdrawal of foreign funds. While the dollar index rose 0.6% to 106.93, spot USDINR increased by 88 paise to 81.69. To cap off a low-voltage week that saw the Dow Jones close virtually unchanged…
Friday, Indian rupee raised 13 paise to 75.90 against the US dollar. It was opened at 75.99 against the US dollar and touched an intraday high of 75.70, finally closed at 75.90, registered a rise of 13 paise over its previous close. On Thursday, the rupee had declined 19 paise, closed at 76.03. “Indian economy…
