India's current account deficit is expected to deteriorate in the current fiscal on account of costlier imports and tepid merchandise exports, according to the Finance Ministry's monthly economic review. The review released on Thursday by the ministry also said that global headwinds would continue to pose a downside risk to growth as crude oil and edibles, which have driven inflation in India, remain major imported components in the consumption basket. For the present, it said, "their global prices have softened, as fears of recession have dampened prices somewhat. This would weaken inflationary pressures in India and rein in inflation."
The rupee recovered by 15 paise at 65.49 against the US dollar.
The headline inflation eased to a five-month low in December on lower vegetable prices, providing some relief to the ruling coalition before a national election and increasing the odds that interest rates will stay on hold this month.
The domestic unit had recovered to 68.65 in early trade on Friday as against Thursday's closing of 68.72.
There was fresh selling of the American currency by banks and exporters
The rupee strengthened by 14 paise to close at 66.41 against the US dollar on Wednesday.
Increased month-end demand for the US currency from importers put pressure on the rupee
The rupee had dropped by 18 paise to end at 66.40
Currently, non-residents visiting India are not allowed to take out any Indian currency while leaving the country.
The rupee had lost 27 paise to close at more than 5-week low.
Silver advanced by Rs 150 to Rs 34,200 per kg on increased offtake.
Robust foreign capital inflows into upbeat domestic equity markets on the back of better macro fundamentals helped the rupee to gain
Weak dollar against other currencies overseas supported the rupee
Sensex gains 2.4%, Nifty crosses 7,000; investors feel exit polls have vindicated their stand
The high-level meeting comes against the backdrop of the rupee touching a record low of 58.98 to a dollar on Tuesday.
The rupee had shed four paise at 63.81 against the US dollar in Friday's trade on sustained demand.
In cross-currency trades, the rupee recovered sharply against the pound sterling to finish at 93.13.
Should we not be creating roles in India for the talented, asks Ajit Balakrishnan.
Volatile currency market sentiment across Asia following a fresh round of China's yuan depreciation further added to gloom.
The rupee appreciated by 0.27 per cent in June against the dollar.
The rupee plunged by 28 paise to more than 2-month low of 66.47 against the US dollar on Monday.
India's foreign exchange reserves declined by a whopping $4.343 billion to $367.646 billion.
A massive rally in domestic equities along with smooth supply of dollars on the back sustained capital inflows into equities and debt predominantly helped the upmove
Ending a four-day upmove, the rupee on Tuesday retreated four paise from its 11-month high levels to close at 58.63 against the dollar on fresh demand for the US currency from importers, amid some profit-booking in stocks.
The rupee had strengthened by 19 paise on Monday.
Macroeconomic factors under control, says Rajan
In line with rally in stocks, the Indian rupee on Monday appreciated for the second straight session and closed with a eight paise gain at a one-week high of 61.36 against the Greenback.
Forex market was shut on Tuesday on account of 'Mahavir Jayanti'.
Extending its losing streak for the fourth straight day, the rupee weakened by five paise to 61.01 against the US dollar in early trade today at the Interbank Foreign Exchange market on high demand for the American currency from importers.
The rupee slipped marginally by two paise at 66.43 against the US dollar on good demand
The rupee on Thursday appreciated 20 paise to end at 62.37, its highest in two weeks, on positive trends in local equities and fresh dollar selling by exporters.
The rupee had plummeted to over three-month low of 63.32.
Globally, gold fell by 1.32 per cent to $1,125.40 an ounce and silver by 3.98 per cent to $14.11 an ounce in New York in yesterday's trade.
The rupee continued its downslide for the second session in a row, depreciating by 20 paise to close at more than one-week low of 62.51 against the greenback.
Currently, trades on the Indian stock exchanges are settled within two days, just like most major markets such as Singapore, Hong Kong, Australia, Japan, and South Korea. Indian exchanges, however, will be moving to T+1 settlement from February 25 in a phased manner.
The increase was led almost entirely by foreign currency assets
IT stocks on Wednesday rose as much as 3 per cent in an otherwise weak stock market after sentiments turned buoyant amid the rupee sinking to an all-time low of 60.35 against the dollar, as the stronger US currency boosts the sales of software firms in rupee terms.
Tracking a recovery in local shares, the Indian rupee on Friday snapped a two-day declining trend and bounced back by 39 paise to end at 61.44 against the Greenback on fresh dollar selling by exporters and some banks.
Weakness of dollar in the global markets and foreign capital outflows also affected the rupee sentiment.
The private companies announced projects worth Rs 11.33 lakh crore (Rs 11.33 trillion) during 2014-16.
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