|Day's range||71.229 - 72.626|
|52-week range||63.2100 - 74.9000|
LONDON (Reuters) - Rupee forwards posted their biggest daily slump in more than five years on Monday, after Reserve Bank of India Governor, Urjit Patel, resigned for "personal reasons".
* Rupee slumps nearly 1 pct * Yuan falls on weak Chinese trade data (Adds text, updates prices) By Niyati Shetty Dec 10 (Reuters) - Most Asian currencies weakened against the dollar on Monday as apprehension ...
NEW DELHI (Reuters) - India will import crude oil from Iran using a rupee-based payment mechanism, an industry source involved in discussions told Reuters on Thursday, adding that 50 percent of those payments will be used for exporting items to Tehran.
Fitch Ratings said on Thursday it expects the Indian currency to weaken to 75 rupees against the U.S. dollar by the end of next year on a widening current account deficit and tighter global financing conditions. Despite a few recent advances, the rupee is on track for its worst yearly performance in five years in 2018 and a Reuters poll on Wednesday had forecast it to weaken further as uncertainty builds, heading into national elections due by May.
The rupee will weaken over the six next months as uncertainty builds heading into national elections due in May, a Reuters poll showed. While a sharp drop in oil prices should help the slowing economy and the rupee, concerns will also persist over sluggish domestic demand which weighed more heavily on July-September growth than expected. Most major Asian currencies have had a bruising year amid a strong U.S. dollar, though many have made some gains this week after the United States and China agreed at the weekend to a 90-day truce in their trade war.
India and the United Arab Emirates on Tuesday signed a currency swap agreement to boost investment and enable direct trade without using dollars or other international currencies. The swap is for 2 billion dirhams or 35 billion Indian rupees ($496 million), depending on which central bank requests the amount, an Indian embassy statement said. "The bilateral currency swap agreement between India and the UAE is expected to reduce the dependency on hard currencies like the U.S dollar," the statement said, adding that the two central banks had agreed the deal.
Fed Chair Jerome Powell said the Fed's policy rate is now "just below" a level that neither brakes nor boosts a healthy economy. The comments have prompted speculation that the cycle of U.S. interest rate hikes may be petering out.
The Sri Lankan rupee hit yet another record low against the dollar on Wednesday on continuing concerns about political uncertainty dragging down the island-nation's economy, after a credit rating downgrade by Moody's and the IMF halting a loan discussion last week. Moody's downgraded Sri Lanka last week for the first time since it started rating the country in 2010, blaming the political crisis for aggravating already problematic finances. The downgrade coincided with a decision by the International Monetary Fund (IMF) to delay discussions about its loan tranche to Sri Lanka.
The Indian rupee rose to its highest in almost 12 weeks on Thursday as global oil prices eased further. The foreign exchange market was closed on Wednesday for a local holiday. India imports more than two-third of its oil requirement and a fall in crude prices eases dollar demand from importers.
(Adds text, updates prices) By Aby Jose Koilparambil Nov 22 (Reuters) - Most Asian currencies firmed slightly on Thursday as the dollar's softening after two strong sessions restored some appetite for ...
The Sri Lankan rupee fell to an all-time low of 179.00 per dollar on Wednesday, a day after Moody's downgraded the country's credit rating, as a political crisis worsens a rout in the currency. Moody's downgraded Sri Lanka on Tuesday for the first time since it started rating the country in 2010, blaming the political crisis for aggravating already problematic finances. The downgrade coincided with a decision by the International Monetary Fund to delay discussions on its loan tranche to Sri Lanka.
The Sri Lankan rupee fell to a record low against the dollar on Wednesday, a day after Moody's downgraded the country's credit rating, as a political crisis worsens a rout in the currency. Sri Lanka's markets were close for a holiday on Tuesday. Moody's downgraded Sri Lanka on Tuesday for the first time since it started rating the country in 2010, blaming the political crisis for aggravating already problematic finances.
Indian rupee and bonds rose in early trade on Tuesday after the outcome from a central bank board meeting late Monday removed uncertainty over a growing rift over policy decisions between the government and the Reserve Bank of India (RBI). The RBI's announcement to buy bonds via open market operation to ease tight cash conditions added to the upbeat mood, traders said. The Indian rupee rose to as much as 71.36 to the dollar, its highest since Sept. 4 from its previous close of 71.65 while the benchmark 10-year bond yield fell to 7.76 percent from Monday's close of 7.79 percent.
Rice prices in top-exporter India nudged higher this week as the rupee firmed, while Thai exporters eyed fresh demand from the Philippines amid expectations of an increase in seasonal supply. India's 5 percent broken parboiled variety was quoted around $363-$371 per tonne this week, versus $362-$369 last week. India's rice exports dropped 9.6 percent to 5.8 million tonnes between April and September from a year earlier, as leading buyer Bangladesh trimmed purchases due to a bumper local harvest, a government body said earlier this week.
(Reuters) - Indian shares erased earlier gains to close little changed on Wednesday, with a firm rupee weighing on IT and healthcare stocks, while private sector lender ICICI Bank Ltd rose to a record close.
On a month-on-month basis, prices spiked 2.56 percent in October, according to data released by the Bureau of Statistics on Friday. The annual inflation rate is the highest since September 2014, when it had hit 7.68 percent. The surge in inflation was caused by a 104.91 percent hike in gas prices.
There will be little respite for the bruised Indian rupee over the coming year, depressed by an escalating U.S.-China trade war and rising domestic political risks ahead of a general election, a Reuters poll showed. Investors have generally shunned emerging market assets this year, made riskier by the international trade tensions and the increasing attractiveness of dollar yields thanks to the U.S. Federal Reserve's steady pace of rate increases. "The Indian rupee reflects emerging market concerns and is facing significant depreciation pressure," noted Tuuli McCully, head of Asia-Pacific economics at Scotiabank.
* Philippine peso sole gainer for October * Yuan set for seventh straight monthly loss * Peso, baht rise tracking local equities (Adds details on rupee, yuan, updates numbers) By Ambar Warrick Oct 31 (Reuters) ...
Rising oil prices have been a major drag on India's import bill in 2018, leading credit rating agencies to question whether the country can meet its fiscal deficit target of 3.3 percent of GDP in the 2018/19 fiscal year. Global crude prices have fallen by around 11 percent in the last three weeks, easing pressure on the Prime Minister Narendra government, as his Bharatiya Janata Party girds for a series of state elections in coming months and a national election due by May. The government said last month that it was confident of meeting its fiscal deficit target of 3.3 percent of gross domestic product for the fiscal year ending in March 2019.
Oct 25 (Reuters) - India's Enforcement Directorate : * INDIA'S ENFORCEMENT DIRECTORATE ATTACHES VALUABLES WORTH 2.55 BILLION RUPEES IN HONG KONG UNDER PMLA BELONGING TO NIRAV MODI * INDIA'S ENFORCEMENT ...
MUMBAI (Reuters) - The Indian rupee strengthened to a three-week high on Wednesday morning, aided by a sharp fall in global crude oil prices overnight, while expected gains in local shares also helped sentiment.
NEW DELHI (Reuters) - India may look to raise 200 billion rupees ($2.71 billion) in 2018/19 fiscal year via buyback of shares in state-run companies including Oil and Natural Gas Corp Ltd (ONGC), local TV channels reported on Tuesday, citing government sources.
(Repeats with no changes to text) * EM Asia weighed by strong dollar sentiment * Rupee slides on strong oil prices * Rupiah checks losses on Sept trade surplus By Sumeet Gaikwad Oct 15 (Reuters) - Most ...
India's domestic passenger vehicle sales fell 5.6 percent in September from a year ago, data from the Society of Indian Automobile Manufacturers (SIAM) showed on Friday, with demand hurt by rising fuel prices and interest rates. Rising crude oil prices, higher interest rates and a much weaker rupee that has lifted prices of imported vehicles, are weighing on consumer sentiment.
(Reuters) - India's Emami Cement Ltd has filed for an initial public offering of shares worth up to 10 billion rupees ($135.94 million), it said in a filing on Friday.