In dollar terms, the Indian markets managed to climb back to 2008 levels only in January this year. The subsequent fall in the rupee because of emerging market woes has once again pushed the markets below their 2008 level in dollar terms.
Arvind Panagariya heads the government's main economic advisory body.
Falling for the third day, Indian rupee on Wednesday weakened by 14 paise to close at over one-week low of 62.02 against the Greenback.
Investors may increase exposure to mid and small-cap stocks as their risk-reward profile is more attractive currently, suggest Nitin Singh and Vinay Joseph.
All-rounder Chris Woakes is fit and raring to resume his England commitments after an enriching maiden stint in this year's Indian Premier League (IPL) Twenty20 tournament, the 28-year-old has said.
Forex dealers said besides dollar's gains against other currencies overseas, increased demand from oil importers for the US currency put pressure on the rupee.
Futures and options are not investment tools. They are part of the broader tools called derivatives used for hedging of assets and to protect profits.
Analysts are of the opinion that given the change in the business model, which is resulting in smaller deals spreading across the whole year, clients may be already renegotiating prices.
The partially convertible rupee was trading at 65.87/88 per dollar.
The rupee had eased by 2 paise to close at fresh 2-month low of 62.78.
'Life will not improve overnight; it will happen in a gradual manner.'
The rupee has declined by 24 paise in four days of losses.
The Indian rupee is likely to appreciate to 46 a dollar in the backdrop of a stable government at the centre and relatively resilient domestic demand, says a report by global financial services giant Goldman Sachs.
Education inflation abroad is high and the depreciation of the rupee can also set you back, says Vishal Dhawan
The rupee closed at Rs 66.21 in its last trading session.
Neither the foreign exchange, nor the gold, and certainly not the revaluation reserve should be available for spending by anyone. he revaluation account is simply not money. It is simply an accounting entry, says Rashmin C Sanghvi.
With India's imports exceeding exports, weak rupee does more harm than good. Analysts, however, say that rupee depriciation is positive for export-oriented sectors such as IT services, pharmaceuticals, textiles and automobiles
Forex dealers said besides a lower opening in the domestic equity markets, increased demand from importers for the American unit put pressure on the rupee but dollar's weakness against other currencies overseas capped losses.
Partner of global consultancy firm Ernst and Young, Ashwin Parekh too opined against full convertibility and said it could 'lead to flight of capital'.
A weak rupee, though seemingly good for exporters, would push up input cost further for Indian companies.
According to NIA sources, Ali's request has been forwarded to the ministry of external affairs from where it will be sent to Pakistan's High Commissioner Abdul Basit.
The administration was triggered by Force India's Mexican driver Sergio Perez, supported by engine provider Mercedes and team sponsor BWT who were also owed money by a team struggling financially.
Lasalgaon, Pimpalgaon mandis halt auctions to arrest the decline.
Weakness of dollar in the overseas market also boosted the domestic currency, a forex dealer said.
Indian corporates might face higher borrowing cost in the overseas market in short-run due to the Greek debt crisis.
The rupee closed marginally stronger against the dollar on Wednesday.
The Indian rupee on Monday appreciated by 16 paise against the American currency in early trade on hopes of increased capital inflows from foreign funds boosted by last week's rally in the stock markets.
TCS will continue to play aggressive in the domestic market and has the requisite set of skills to execute complex projects, he said, adding the company would continue to hire in its on-shore division.
Increased demand for the dollar from importers put pressure on the rupee.
India's sovereign debt is much lower than that of other emerging economies like Argentina, Indonesia, Mexico, the Philippines, and South Africa.
The rupee extended its fall for the fourth consecutive day by losing another 6 paise to hit a fresh one-month low of 62.31.
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
The rupee has been under immense pressure due to a host of reasons including soaring crude oil prices, sustained foreign fund outflows and widening current account deficit.
The Index of Industrial Production (IIP), GDP figures, current account data, foreign direct investment and exports-imports data are very dismal. They do not show the extraordinary 9 per cent growth, says Amreek Singh Sandhu, CFO, Gati Ltd.
Anjalika Bardalai, senior economist and editor at Economist Intelligence Unit says fiscal deficit is the biggest downside risk to India's growth story.
Overall forex market sentiment suffered a sudden reversal of fortune contrary to expectation largely moving in line with local equities, reversing all early strong gains.
A meal in an Indian restaurant in London has become costlier due to stronger rupee and restrictions on supplies and exports necessitated by growing demand within India for basmati rice.According to a London-based Rice Association, the strengthening Indian rupee has increased sterling import costs by more than 10 per cent between August 2006 and January 2008.
The first major devaluation of the rupee happened in 1966 when it was pegged against the US dollar at Rs 4.75/$
The rupee had gained two paise to close at one-month high of 62.14 against the dollar in Tuesday's trade.
The Indian rupee will bounce from its record low level of close to Rs 52 against the greenback and will gain about 10 per cent in 12 months once overseas borrowings resume, Goldman Sachs has said.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances