Personal preferences notwithstanding, even many Canon aficionados will find it difficult to resist the charms of the rival's new offering and some may be even considering crossing the pricey Rubicon.
The rupee depreciated 44 paise and slipped below the 81-mark against the US dollar for the first time in early trade on Friday, weighed down by the strong american currency and risk-off sentiment among investors. Forex traders said escalation of geopolitical risk in Ukraine and rate hikes by the US Fed and Bank of England in a bid to contain inflation sapped risk appetite. Further, the strength of the American currency in the overseas market, a negative trend in domestic equities, and risk-off moods amid escalation of geopolitical risk in Ukraine weighed on the local unit.
The RBI cracked down on offshore foreign exchange trading by Indians through online trading websites.
RBI banned banks from proprietary trading and Sebi doubled the margin requirement on the domestic dollar-rupee forward trade.
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.
'India's sizeable foreign exchange reserves should serve as a buffer.'
Indian frontline benchmarks - the S&P BSE Sensex and the Nifty50 - have rallied around 12 per cent each since June-end and outperformed their global peers by a wide margin. On Thursday, the US Fed hiked interest rates by another 75 basis points (bps) - the third such hike this year - and surprised the markets by projecting further sizable hikes in the coming months. With the latest hike, the Fed fund rate (FFR) now stands in the range of 3 - 3.25 per cent and is highest since January 2008.
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The Reserve Bank of India (RBI) is precariously balancing two opposing objectives - maintaining easy financial condition in the domestic market, while ensuring external stability - and economists have started taking note. They say India is going through the classic trilemma of the 'Impossible Trinity'. The RBI cannot have an independent monetary policy (setting domestic interest rates) in an environment of an open capital account and flexible exchange rates. What is even more complicated for the central bank now is that financial market stability overlays all the other three objectives.
Varun Thakkar Ashok and Chengappa Ganapathy Kelapanda won bronze with a total of 53 after race 15 in the 49er men's event.
A rate cut by the Reserve Bank is likely to help the rupee, which today hit a record low of 57.54 versus dollar, says a Bank of America Merrill Lynch (BofA-ML) report.
The uncertainty created by the jump in COVID-19 infections and localised lockdowns prompted RBI Governor Shaktikanta Das and other members of the rating setting panel MPC to unanimously vote for status quo in interest rates and an accommodative policy stance to support growth, as per minutes of the meeting released on Thursday. "The need of the hour is to effectively secure the economic recovery underway so that it becomes broad-based and durable," the Governor said during the three-day meeting of the Monetary Policy Committee (MPC) which ended on April 7. The renewed jump in COVID-19 infections in several parts of the country and the associated localised and regional lockdowns add uncertainty to the growth outlook, he observed, as per the minutes of the meeting released by the central bank.
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RBI is expected to cut policy rates by 50 basis points by 2016.
The new line-up -- FX400, FX600 and FR600 -- are equipped with the high performance intel core i5 processor with intel turbo boost and intel hyper-threading technologies, which adjusts processor efficiency on the go, greatly enhancing overall system performance.
The Reserve Bank of India (RBI) has announced a dollar-rupee two-year sell-buy swap auction for $5 billion on March 8, which will suck out rupee liquidity from the system. The swap will be in the nature of a simple sell/buy foreign exchange from the RBI side, in which a bank will buy US dollars from the central bank and simultaneously agree to sell the same amount of US dollars at the end of the swap period. "With a view to elongating the maturity profile of its forward book and smoothen the receivables relating to forward assets, it has been decided to undertake sell/buy swap auction of $5 billion on March 8, 2022," the RBI said in a statement. The auction cut-off will be based on the premium amount in paisa terms up to two decimal points.
US interest rate normalisation policy is likely to keep global FX markets volatile.
'There is a misconception that gold is a dead asset in India.' 'Around 30 per cent of agriculture loans are collateralised by gold, Soumya Kanti Ghosh and Saket Hishikar, economists at the SBI, point out.
The latest generation of Altec Lansing speakers, the FX3022 ex-pressionist Bass, make an interesting set of speakers. ex-pressionist Bass are meant to be an audio treat for music lovers and are priced at roughly Rs 7,000.
Domestic handset maker Intex has launched India's first Firefox OS based handset for Rs 1,999, targetted at capturing a larger chunk of the booming affordable smartphone market in India.
Silicon Valley-based Ikanos Communications on Wednesday launched 100/100 Mbps fibre-fast broadband solution in India targeting businesses and consumers.
A bitter court battle almost forced Varsha Gautham to quit but perseverance helped her to tide over the crisis and clinch a silver medal in sailing at the ongoing Asian Games.
RBI cannot aggressively intervene at this stage says the report.
The film is about two youngsters who want to make some quick money and lead a luxurious life.
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The worst performing Asian currency of the year so far hit a new life low of 61.80 rupees per dollar on Tuesday, breezing past a previous low of 61.21 hit on July 8. Central bank intervention helped the rupee recover, but by Wednesday it was sliding once again, to stand around 61.41 by 1.30 p.m.
Exciting times ahead in the FX markets, predicts Sonali Ranade
This is SBI's second forex technology initiative.
The RBI governor is focused on growth, and keeping rupee slightly depreciated is part of that 'Atmanirbhar Bharat' strategy.
The last thing members of Brazil's Olympic sailing team want to talk about is the water.
Here's what your favourite Hollywood celebrities have been up to.
Any market correction, analysts say, would be an attractive entry point for risky assets, which should do well over the medium-to-long term.
A sneak review of eight gadgets-- Dell Inspiron 15R, MSI FX600, Micromax X550 3D Qube, Samsung 3D LED TV 9000, G-Fone 468, Dell Inspiron M501R, KYE Genius -- Traveler 900 Mouse and Samsung Wave. Here's what's hot and what's not in these gadgets...
Since the introduction of exchange traded forex futures contract in 1972 at the Chicago Mercantile Exchange, the ever increasing transaction volume and participation has established the popularity of Forex in the world.
India's current account deficit (CAD) is likely to ease to 4.4 per cent of the GDP in the current fiscal year on lower oil and gold prices, Bank of America Merrill Lynch (BofA-ML)said in a research note.
Today, they can't meet even the piffling capital norm set by Mint Road - Rs 5 crore for partnerships and Rs 10 crore for public and private firms in this line of business. Bulk of the trades are put through e-platform offerings of Reuters, Bloomberg, JPMorgan, Barclays or Deutsche Bank. And they have the web-based FXall, FXconnect, Atriax, Hotspotfx and LavaFX for company.
