Given the stability of the rupee over the last 10 months, many companies have been tempted not to hedge their foreign currency risk.
It is time for the three finance ministers of the 1990s to reveal the real hero, says T C A Srinavasa-Raghavan.
ITC was the top gainer in the Sensex pack, spurting over 2 per cent, followed by Infosys, Asian Paints, HCL Tech, Maruti, PowerGrid, ICICI Bank and TCS. On the other hand, Bharti Airtel, ONGC, HDFC Bank, IndusInd Bank and Bajaj Auto were among the laggards. NSE Nifty rose 16.75 points or 0.14 per cent to close at 11,930.95.
The rupee's stability in the last 12 to 18 months made corporates reduce hedging
If you are travelling internationally in the next two months, it's a good time to exchange your currency.
While the company would have nine counters, Central Bank of India will have two.
It is high time to manoeuvre the rupee more effectively and predictably, even as it has to be recognised that such tweaking of the rupee needs to be accompanied by reforms to the real sector and factor markets.
This follows an investigation into alleged violations of foreign exchange rules involving foreign direct investment of Rs 85 crore and Rs 140 crore by JP Morgan India and Amrapali Group firms.
The broader Nifty, after struggling, also managed to end above the 10,200-level.
2nd time within a few days RIL has hit the forex debt market.
For development finance institution to succeed now, the government must stand like a rock behind it and be patient.
The total number of arrests by the CBI has risen to six -- four PNB officials, a retired employee of the bank, and an authorsied signatory of Nirav Modi's company -- after Monday's development.
From Sri Lanka's most popular political family to its most despised -- going by the voices on the streets calling for the Rajapaksas' ouster -- what went wrong for the clan? Veteran Sri Lanka watcher N Sathiya Moorthy offers an insight.
It has registered 2,000-plus money laundering cases and about 12,000 forex violation ones in the 14 years since it was established. Yet, its probes have resulted in no more than 13 convictions from nine cases of money laundering since 2005.
Brent crude prices fell to $57 a barrel on Monday from $62 a barrel.
The US dollar index was up by 0.16 per cent at 96.53.
'If the Union Budget can provide incentives for animal spirits to come as well as induce demand stimulus and consumption, the Budget would have done a wonderful job.'
The Nifty slumped by 67.85 points
The friction with the political class is not only about interest rates and monetary policy. While the government often spoke freely about its discomfiture, the RBI had to be careful even in its response to the government as any loose statement would affect the markets.
'A time-wise, as well as price correction, so that the market can absorb the gains made over the past 17 months.'
The steep decline in commodity prices has reversed.
In its latest transition, the company will also double up as an investment vehicle.
ICICI Bank chief Chanda Kochhar on Wednesday said the country has many positives like high forex reserves, and low current account and fiscal gaps, which can help it weather the ongoing volatilities.
V Vaidyanathan, former executive director at ICICI Bank who turned entrepreneur to run Capital First, an NBFC that caters to smaller businesses, tells Pavan Lall in an exclusive interview that his new entity post the merger of Capital First and IDFC Bank which will be called IDFC First will launch by January and cater to a new India with value services.
He added that the risks can increase if the Chinese slowdown gathers more speed.
The central bank has vehemently opposed the proposal, citing different reasons, including lack of focus and unconvincing results abroad.
Up to 95 per cent of units in the Noida-Greater Noida mega industrial zone are currently shut.
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.
IPL team Rajasthan Royals was slapped with a penalty notice of approximately Rs 100 crore by the Enforcement Directorate (ED) for alleged violation of forex laws, a move which comes barely two months before the sixth edition of the high-profile league gets underway.
The company has recently sent a detailed reply to the agency as part of communication to notices sent to it earlier under the Foreign Exchange Management Act, official sources said.
Ranbaxy Laboratories on Wednesday reported widening of its consolidated net loss to Rs 1,029.72 crore (Rs 10.29 billion) for the third quarter ended December 31, 2014
The central bank can directly print money and finance the government, but it should avoid doing so unless there is absolutely no alternative, former RBI governor D Subbarao on Wednesday said while pointing out that India is 'nowhere' near such a scenario. In an interview with PTI, Subbarao suggested that to deal with the second wave of COVID-19 induced slowdown in the economy, the government can consider Covid bonds as an option to raise borrowing, not in addition to budgeted borrowing, but as a part of that.
Rs 1,000 now buys $13.5 against $14 a year ago.
Total network minutes rise 5% q-o-q but revenue per minute down 1.9%
Multi-currency pre-paid cards are a good option while travelling abroad.
The trouble for Ashok Lavasa's family began a few months back when his wife, Novel Singhal Lavasa, came under the scanner of the income tax department on charges of alleged tax evasion.
The Income Tax Department on Tuesday also raided 20 premises linked to Gitanjali Gems promoter Mehul Choksi and suspected shell firms in connection with an alleged tax evasion case against them, official sources said.
There is high demand for the US currency from importers
SBI managing director PK Gupta told reporters that the rupee has been faring better than many of its peers, including the Turkish, Argentinean, and Indonesian currencies.
This is the biggest daily fall for rupee this calendar year since 85 paise or 1.51 per cent on June 22 when it had settled at an all-time low of 57.15.
