As the rupee remains under pressure due to several headwinds and the uncertainty around the India-US trade deal, the Reserve Bank of India (RBI) has been stepping in only to calm volatility, not to stop the fall.
'...a mix of asset classes.' 'Include equities for growth (across market caps), debt for stability and liquidity, gold as a hedge against macro and currency risk, and global assets for geographical and economic diversification.'
The Reserve Bank of India's (RBI's) short dollar forward positions rose by $6 billion in September - the first increase in seven months - indicating the central bank's readiness to defend the rupee in the forward market amid pressure on the currency, latest data showed. The net short dollar position stood at $59.4 billion at the end of September, up from $53.4 billion in August.
The Reserve Bank of India (RBI) does not target any price level on the rupee, Governor Sanjay Malhotra reiterated at an International Monetary Fund and World Bank event on Wednesday.
'I don't see 88 per dollar now.'
Anupam Kher invited his friends and colleagues from the film industry for the special screening of his second directorial, Tanvi The Great, in Mumbai.
TV commentators Graeme Smith and Scott Styris remarked that such discussions should occur privately, not in front of the broadcasting cameras.
It's storm in a tea cup: Klusener downplays Goenka's public outburst on KL Rahul
Only a limited set of investors should invest directly in corporate bonds.
The Reserve Bank of India's (RBI's) $10 billion US dollar-rupee buy-sell swap auction for three years received bids worth $16.23 billion on Friday, reflecting robust demand amid persistent liquidity deficit in the banking system. This was the second swap auction by the central bank after it infused $5 billion via six month-swap on January 31.
Fresh from their morale-boosting win over LSG, and bolstered by the return of India wicketkeeper-batter K L Rahul, Delhi Capitals will look to build on the momentum when they take on formidable Sunrisers Hyderabad in the IPL match in Visakhapatnam on Sunday.
The IIFAs saw some emotion and a whole lot of glamour.
Delhi Capitals annihilated Lucknow Super Giants by eight wickets in an IPL match in Lucknow on Tuesday.
The Indian rupee is likely to depreciate further against the US dollar through the end of 2024. This is due to the continued strengthening of the greenback, combined with the weakening of the Chinese yuan, which is expected to keep pressure on the Indian currency.
It was Rishabh Pant's brief, unconvincing stint at the crease that starkly epitomised his season-long struggle
A potential risk to the rupee's appreciation trajectory lies in the event of a delay in the Federal Reserve's rate cut cycle, particularly if core inflation in the US remains elevated.
All but out of contention for the IPL play-offs, KL Rahul's future as Lucknow Super Giants skipper is uncertain for the remaining two games after the team received a pasting at the hands of Sunrisers Hyderabad at home on Wednesday.
A wave of high-profile player releases, including four prominent captains -- Shreyas Iyer, K L Rahul, Rishabh Pant, and Faf du Plessis -- has reshaped the landscape of the league.
There has been a lot of speculations about K L Rahul's future as LSG skipper after his 'public reprimand' by team owner Sanjiv Goenka.
The rupee had tumbled by 33 paise to close at 54.47 against the US currency in the previous session on Friday, due to a firm dollar overseas.
The Securities Appellate Tribunal (SAT) on Thursday questioned market regulator Sebi's credibility on completing its investigation within a stipulated time in the Zee Entertainment Enterprises' (ZEEL) matter. SAT was hearing Zee's plea against Sebi's order baring Zee Entertainment Enterprises' Punit Goenka and Subhash Chandra from holding any key managerial positions in the company and other organisations for allegedly siphoning off funds of the media firm. "There is no certainty that these eight months won't be extended. ...past record of Sebi is that they have always extended it (investigation).
The Indian rupee is expected to trade between 80 and 84 against dollar in the first three months of 2023 with support from overseas inflows though worsening current account deficit (CAD) and reduced interest rate differential between the US and India pose challenges. According to a Business Standard Poll of 10 participants, most said the rupee could gain strength in January due to foreign inflows, and the Reserve Bank of India (RBI) is not expected to allow the currency to depreciate ahead of the Union Budget scheduled on February 1. The rupee depreciated 10.15 per cent in 2022, its worst performance since 2013 as the war in Europe and the interest rate increase by the US Federal Reserve prompted investors to flee emerging markets.
'The maximum struggle that I have gone through in this industry was to try to get a film made which had a female action star.' 'And that film never got made, despite reaching out to some of the biggest actresses.'
Surplus liquidity in the banking system as measured by absorption of excess funds by the Reserve Bank of India (RBI) fell sharply at the end of the last week due to outflows on account of advance tax payments. According to the RBI data, the net liquidity absorbed by the central bank on September 16 was at Rs 3,243.57 crore, much lower than the average of Rs 56,809.92 crore in the preceding four days of the week. The average absorption of funds by the RBI so far in September is at Rs 1.13 trillion, against the average of Rs 1.2 trillion in the previous month, the data showed.
Covid-19, US yields, dollar to weigh on equity flows in the near term.
The rupee gained for the second day, climbing 23 paise to a one-week high of 62.07 against the dollar on Wednesday, amid a modest recovery in local stocks and sales of the US currency by exporters and banks.
The rupee had retreated from three-week high and ended six paise down at 60.67 against the dollar on demand from importers for the US currency in Thursday's trade.
The rupee on Monday failed to maintain initial gains and ended lower by five paise at 60.21 against the dollar on fag-end demand for the US currency from banks and importers.
Stars dazzled on the red carpet at the Filmfare OTT awards.
The rupee resumed higher at 61.57 per dollar against the previous close of 61.59 and dropped immediately to 61.70 on initial dollar demand from banks and importers.
The US stimulus programme has been credited with fuelling a global equities rally for most of the year.
Dollar sales by exporters and firm local equities also supported the local currency.
The demand for the US currency from importers outweighed capital inflows and firm local equities.
The sudden movement of the rupee - post the monetary policy - is not a reason to panic, said currency dealers. According to them, a correction was overdue for the rupee that remained the best performing currency in the region for well over a month. The rupee closed at 74.72 a dollar on Friday from its previous close of 74.60. It had dropped 1.52 per cent against the dollar on April 7 after the Reserve Bank of India (RBI) announced its monetary policy, committing to buy Rs 1 trillion of bonds in the June quarter. A weak rupee goes well with the export narrative of the government, and is consistent with the RBI's intervention strategy that prevented an appreciation.
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Snapping a two-day fall, the rupee opened strong at 59.49 a dollar from the previous close of 59.76 at the Interbank Foreign Exchange Market and then touched a low of 59.59.
What goes in favour of Asur 2 is its pace and novelty, even though the approach has all the hokiness of a comic book, observes Deepa Gahlot.
Forex dealers said strengthening of the euro against the dollar overseas and a higher opening in the domestic equity market also supported the local currency.
The RBI is widely expected to raise its key repo rate by 25 basis points to 8.00 per cent on Wednesday, its third such hike in four months after recent data showed both wholesale and retail inflation at multi-month highs.
The rupee was also pressured as the euro fell for a second day on Friday, hurt by the European Central Bank's surprise interest rate cut and a downgrade to France's credit rating, while the dollar inched up before a key US jobs report.
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