A theory that is doing the rounds is that with election nearing, this depreciation of the rupee will allow politicians of all hues to bring back their ill-gotten wealth.
Indian airline industry is expecting to prune its net losses to Rs 3,000-5,000 crore in this fiscal from an estimated Rs 17,000-17,500 crore in FY2023 on the back of improved yields and stable cost environment, credit ratings agency ICRA said on Tuesday. At the same time, ICRA also estimated that domestic air passenger traffic will expand by 8-13 per cent each in FY2024 and FY2025. The rating agency has also maintained its stable outlook on the industry in view of healthy passenger traffic growth, improved yields and a stable cost environment.
Trumponomics, poor growth, and high valuation certainly don't make a bullish recipe for Indian markets, warns Debashis Basu.
A higher opening in the domestic equity market and the strengthening of euro and yen against the dollar overseas also aided the rupee, dealers said.
"It is a great honour to be a part of India's history," said an excited Udaya while speaking with rediff.com.
Indians hoping to study in Canada should think twice because many students have ended up in substandard colleges with no job prospects despite spending lakhs of rupees, resulting in depression and suicide, India's top envoy there says.
'During his stint as prime minister, he got 270 million people out of poverty.' 'This, according to the World Bank, is the fastest compression of poverty anywhere in the world.' Arvind Mayaram, the former finance secretary, recalls his encounters with Dr Manmohan Singh.
It fell 11 per cent in 2013, its third successive annual loss.
Lillian Carter, a trained nurse and a Peace Corps worker, spent two years of her life, when she was in her late 60s, serving the poor in India, in the 1960s. She was posted as a volunteer to Vikhroli, then a village 30 km outside of Mumbai and a Godrej township, and was there from 1966 to 1968.
Like the American dollar and British pound sterling, the new symbol of Indian rupee will also be available in the computers by merely downloading a software provided free by the government.
If one has to analyse Ashwin the cricketer, it is very difficult to ignore Ashwin, the person, who had a very independent mind and a brain that probably ticked 24x7. He believed in de-construction of his art and became craftier one ball at a time.
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.
Government and Reserve Bank to take steps to arrest the fall of the currency.
The rupee dropped on renewed demand for the American currency.
The rupee had lost 21 paise on Tuesday's trade.
The Indian rupee recovered by four paise to 54.99 after touching all-time low of 55.07 against the American currency in the late morning trade due to mild selling of dollars by banks following following measures taken by RBI to curb the local currency's fall.
The rupee appreciated 7 paise to 79.74 against the US dollar in early trade on Thursday as a positive trend in domestic equities supported the local unit. However, a strong American currency overseas and forex outflows restricted the rupee's gain, dealers said. At the interbank foreign exchange, the rupee opened at 79.72 against the American dollar, then went lower to trade at 79.74 against the greenback in early deals, registering a gain of 7 paise over the last close.
Delhi faces a severe financial crunch and the deficit is largely due to numerous welfare schemes without adequate revenue flowing in. The success of welfare schemes and electoral promises will need careful financial planning and out of the box thinking to whip up additional revenue, notes Ramesh Menon.
Former Indian Prime Minister Manmohan Singh passed away on Thursday night at the age of 92. He was brought to the emergency department of AIIMS Delhi in critical condition after "sudden loss of consciousness."
The Sittwe deal is more significant than Chabahar in Iran, where India has rights to operate only two terminals and not the port itself.
'Challenge is basically near-term growth as the outlook has turned a bit adverse.'
The Indian rupee has neared the record low of 57.32 per dollar that it hit in June 2012.
Extending losses for the fourth straight session, Indian rupee on Monday declined by ten paise to log over 13-month closing low of 63.67.
The rupee touched a high and low of 65.91 agaisnt the greenback during the day.
Emerging market currencies including Indian rupee are likely to remain under pressure, though depreciation is expected to slow from here, Barclays said in a research report.
Tracking a steep fall in local share market, the Indian rupee on Tuesday washed out initial gains and ended with a loss of 16 paise
Rupee closed at 61.86 against the dollar on Tuesday.
The partially convertible rupee was trading at 65.87/88 per dollar.
The creative brains behind the design of the Rupee symbol speak about their experience and the logic they applied to their design.
Emerging markets, including India have been large beneficiaries of global monetary easing.
The Indian IT services sector is staring at a second consecutive year of muted revenue growth due to modest increase in tech spends in Europe and the US, a domestic rating agency said on Wednesday. Crisil Ratings said it expects the sector to grow at 5-7 per cent in FY25, after a growth of 6 per cent estimated to have been achieved in FY24. The overall industry size is pegged at $250 billion and it creates over 50 lakh direct jobs.
The rupee had closed flat at 54.85 against the US dollar in Tuesday's trade amid RBI keeping key rates unchanged in the mid-quarter policy review.
'Investors with foreign currency-denominated goals, such as foreign education or foreign travel, should go for US equity funds.'
Let's take a look at the performance of some of the major currencies around the world.
A new series of coins will be unveiled soon carrying the Rupee symbol, Finance Minister Pranab Mukherjee announced in the Budget.
At a time when exporters and IT companies are worried about the Rupee getting stronger against the US Dollar, subsequently "affecting business", Shiv Nadar, founder of software and hardware major HCL said things are doing fine.
The Indian rupee slid to a fresh low of Rs 55.32 against the US dollar in the afternoon trade on Tuesday as foreign funds pulled out from emerging markets avoiding risky assets.
'India's fundamentals are a lot better (than those of other emerging market economies).' 'India will suffer (witness a fall in its stock market) what I call the second order effect.' 'And the second order will happen when these funds (belonging to macro and hedge fund investors and which have leveraged Japanese yen-carry trades), because they lose money elsewhere as lot of their positions were financed by borrowing Japanese yen, will have to book profits in investment destinations where they are making money, including in markets like India.' 'They (these investors) will have to effectively sell in countries like India and which is the consequence (the crash in equity markets) that Indian markets might see.'
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