RBI's defence of rupee depletes Forex by $1.90 billion

RBI's defence of rupee depletes Forex by $1.90 billion

The forex reserves of India plunged to USD 351.73 billion, due to the RBI's attempt to stem the fall in rupee value and maintain the currency in it's comfort zone.

Rupee must fall more to save exports, prevent China dumping: SBI

As the rupee touched a new 2-year low, State Bank chairperson Arundhati Bhattacharya today said it must fall further to help domestic exporters.

Fall in crude prices responsible for dip in exports: Govt

As merchandise shipments continue to fall since last December, a top official in Commerce Ministry today attributed the declines to sharp fall in fuel prices overseas, which led to a dip in petroleum product exports.

'No immediate advantage to exporters from rupee fall'

The steep depreciation of rupee will not give an immediate advantage to the country's exporters, trade bodies said Monday.

IT stocks gain on rupee fall

IT stocks were in limelight Wednesday, gaining nearly 3 percent, as the stronger US currency boosts the sales of software firms in rupee terms.

Falling rupee may spook rate cut hopes, says SBI

The continued weakening of the rupee driven by external factors is likely to delay any interest rate cut by the Reserve Bank, according to a survey.

Rupee extends falls; weaker stocks hurt

The rupee is trading at 58.86/87 versus its Friday`s close of 58.52/53, after falling as low as 58.93 tracking losses in the domestic share market and on some dollar short-covering ahead of Narendra Modi`s swearing-in ceremony.

ECGC net up 48% at Rs 361 cr in FY14

The Export Credit Guarantee Corporation of India (ECGC) on Monday reported a 48 per cent rise in net income at Rs 360.7 crore for the fiscal ending March, driven by rupee fall and business growth.

India was hit hardest, but recovery also strongest: Sharma

Despite all the volatility, Indian markets have sharply rebounded, he added.

India Ratings pegs fiscal deficit crossing 5% on Rupee fall

India Ratings Thursday said the government is likely to miss the fiscal deficit target of 4.8 percent this fiscal due to the recent steep fall in rupee, and pegged the gap at over 5 percent.

'Allow PSUs to issue quasi sovereign bonds to stem rupee slide'

Debt inflows could result in two ways, either sovereign bond issue by the government or encouraging PSUs with strong balance sheets to issue corporate bonds, the study said.

Rupee, inflation to weigh on upcoming RBI policy review: PMEAC

"All that I can say is that the RBI, I believe, will take into account the behaviour of inflation as well as what is happening in the foreign exchange market and take a decision," he said on the sidelines of an Assocham organised event here.

Rupee fall may jack up premium on car insurance: Industry

The rupee has depreciated more than 20 percent since May and is hovering around 65 per dollar as of now. This has pushed up costs of imported spares of most of the automakers in the country.

India's crisis within a crisis; FM fights on two fronts

In many ways, Chidambaram has been grappling virtually alone with India's economic emergency since he became finance minister for a third time 13 months ago.

Shivraj blames Manmohan Singh for the poor state of the economy

Slamming PM Manmohan Singh for the poor state of economy and the slide of the Indian rupee, Madhya Pradesh Chief Minister Shivraj Singh Chouhan today blamed him for damaging the country`s image.

'India should keep option open for IMF credit'

India's forex reserves decreased by USD 1.08 billion to USD 277.72 billion for the week ended August 23, according to the latest RBI data.

Hiring outlook weakens on falling Re; bad days ahead: Experts

The weakening economy, inflationary pressures and falling rupee has had a detrimental impact on the companies' bottom lines, thereby creating uncertainty amongst companies and adversely impacting their talent management strategies.

Rupee's deadly dive — where will it hurt the most?

The apparent slump isn’t singular to the stock market and the corporate world. The common man too has quite a considerable chunk in the woes that come in the aftermath of rupee’s ugly downfall.

Rupee gains 85 paise to 65.70 per dollar after PM's comments

The rupee got a boost Friday from the Prime Minister's assurances in Parliament on combating the currency's fall and reviving economic growth, gaining 85 paise to close at 65.70 against the dollar.

Rupee slide to add to credit pressures on Indian banks: Fitch

The depreciation in rupee's value would add to credit pressures on Indian banks, especially public sector lenders, because their stress-absorption capacity is comparatively lower than their private-sector peers, global rating agency Fitch said Thursday.