Among the 30 Sensex companies, Larsen & Toubro, Power Grid, NTPC, State Bank of India, Reliance Industries and HDFC Bank were the biggest laggards. Sun Pharma and Nestle were the only gainers.
It fell 11 per cent in 2013, its third successive annual loss.
The cost of deposits is on the rise, but banks can't raise interest rate on close to 60% of their loan books, points out Tamal Bandyopadhyay.
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.
The Union government will soon make amendments to the foreign trade policy (FTP) to enable exporters to claim export benefits for settling trade in rupees. These benefits are, so far, available for export payments received in foreign currencies. After the Reserve Bank of India (RBI) unveiled a mechanism to settle international trade transactions in the local currency on Monday, exporters have been demanding that the Ministry of Commerce and Industry come up with a clarification on the matter.
The rupee dropped on renewed demand for the American currency.
Government and Reserve Bank to take steps to arrest the fall of the currency.
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.
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 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 accused had obtained mobile phone SIM cards in fake names and used to take betting amounts from people through QR codes, the official said.
The rupee touched a high and low of 65.91 agaisnt the greenback during the day.
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
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.
Rupee closed at 61.86 against the dollar on Tuesday.
Foreign investors pumped in Rs 11,119 crore in the Indian equities in December, making it the second consecutive monthly inflow, despite increasing concerns over the re-emergence of Covid-19 cases in some parts of the world. However, foreign portfolio investors (FPIs) have turned cautious in recent days. The inflow in December was much lower compared to Rs 36,239 crore invested by FPIs in the month of November, data with the depositories showed.
In a remarkable comeback, foreign portfolio investors (FPIs) have pumped Rs 1.7 lakh crore into the Indian equity markets in 2023, propelled by confidence in the country's robust economic fundamentals amid a challenging global landscape. The year 2023 has witnessed massive investment by FPIs, thanks to the sharp uptick in inflows of Rs 66,134 crore in December. Going forward, FPI flows are expected to be robust.
Have the markets already played out their dynamics before the economy has even properly taken off? Are we now destined for a period of mediocre returns despite a strong economy? asks Akash Prakash.
The partially convertible rupee was trading at 65.87/88 per dollar.
Emerging markets, including India have been large beneficiaries of global monetary easing.
The creative brains behind the design of the Rupee symbol speak about their experience and the logic they applied to their design.
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.
Let's take a look at the performance of some of the major currencies around the world.
The rupee breached the 80-mark against the dollar on Tuesday. The steady depreciation in the value of the rupee against the US dollar is likely to prove expensive for corporate India. The listed companies' revenue expenses in foreign currency or imports exceed their export revenues or revenue earnings in forex. In their latest financial year, BSE500 companies, excluding banks and non-banking finance companies and insurance (BFSI), reported combined forex expenses of Rs 12.31 trillion against forex earnings of around Rs 10 trillion.
The rupee on Friday slipped 1 paisa to close at its all-time low of 78.33 (provisional) against the US dollar. At the interbank foreign exchange market, the local currency opened at 78.20 and finally settled at its all-time low of 78.33, down 1 paisa from its previous close. During the day, the local unit witnessed an intra-day high of 78.19 and a low of 78.35 against the American currency.
A new series of coins will be unveiled soon carrying the Rupee symbol, Finance Minister Pranab Mukherjee announced in the Budget.
Domestic air passenger traffic touched 1.25 crore in January this year, an increase of 96 per cent compared to the year-ago period, according to rating agency Icra. However, it said the traffic remained around 2 per cent lower compared to the pre-Covid levels -- January 2020. The traffic stood at 64 lakh in January last year. Icra is maintaining a negative outlook on the Indian aviation industry, reflecting the view that the financial performance of Indian airlines is likely to remain under pressure in the near term, even though the recovery in domestic passenger traffic has been healthy.
Congress president M Mallikarjun Kharge, meanwhile, came to Siddaramaiah's defence, stating that the party is standing with him and will support him.
A depreciating rupee, which briefly hit 80 to the dollar on Tuesday, may boost India's exports but price-inelastic imports of crude oil and gold would mean limited relief on the trade deficit, which clocked a record $26.2 billion in June. Due to global risk aversion on the back of geo-political tensions and aggressive policy tightening by the Fed, the dollar has appreciated against most currencies, including the rupee. And, with other currencies depreciating, India's comparative advantage in this respect may be limited.
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.
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.
And possibly in all of Asia, going by his reported fee of Rs 275 crore for Thalapathy 69, his coming movie.
Forex market was closed on Thursday on account of Ganesh Chaturthi.
Relentless fall of the rupee has not dampened demand for rough diamonds in India.
The rupee rise may halt if interest rates are raised by the US Fed and the European Central Bank, and Indian domestic interest rates are lowered.
Iran has offered to help India meet its energy needs by relaunching rupee-rial trade for export of oil and gas, said Iranian ambassador to India Ali Chegeni. Chegeni said if both the countries resume rupee-rial trade, bilateral trade can touch $30 billion. Iran used to be India's second largest oil supplier but New Delhi had to halt imports after the former US president Donald Trump withdrew from the nuclear deal with Iran and re-imposed sanctions on its oil exports.
The partially convertible rupee closed at 61.31/32 per dollar, unchanged from its Tuesday close.
If there was one event that made the month of August stand out, it was a strengthening of the dollar index to levels last seen only 20 years ago, as the Federal Reserve dispelled all doubts about its intention to continue raising interest rates. Predictably, most currencies suffered against the US unit, with the bulk of the losers belonging to the emerging markets pack. Amid the volatility, the rupee, however, has displayed significant resilience and fared much better than most of its peer currencies.
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