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.
The rupee fell by 49 paise to close at 81.89 (provisional) against the US dollar on Monday as heavy selling pressure in the domestic equities and a spike in crude oil prices weighed on the local unit.
The five-member jury set up to finalise symbol for the rupee is said to have selected the design presented by IIT-ian D Udaya Kumar, said The Indian Express.
The Centre was seized of the issue of the continuing appreciation of the rupee against the dollar adversely affecting the exporting community, Union Commerce and Industry Minister Arun Jaitley said on Saturday.
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.
Rupee hits 2-month low against dollar on US rate hike fears.
The dollar index recovered its early losses and was trading up by 0.11 per cent against a basket of six major rivals.
The pilot project for central bank digital currency (CBDC) in the retail segment went live on Thursday with the Reserve Bank of India (RBI) issuing Rs 1.71 crore to four participating banks based on their indents. The central bank has identified four banks for the first phase of the pilot - State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank - in four cities, Mumbai, New Delhi, Bengaluru and Bhubaneswar. The highest indent was received from one private sector bank.
Forex dealers said besides heavy selling of the American currency by banks and exporters, a higher opening in the domestic stock market, supported the rupee.
With the rupee crossing Rs 72/dollar in recent times, things suddenly don't look too good on several counts.
Globally, the dollar index was trading up by 0.1 per cent against the basket of six major currencies on optimism that the US economy is improving.
'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.
A weak rupee, though seemingly good for exporters, would push up input cost further for Indian companies.
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 recent depreciation of the rupee against the US dollar is unlikely to ensure better margins for exporters as buyers in Europe and the US, facing lower demand in their countries, are asking for hefty discounts.
US is not going to do the kind of sequential taper that was hinted in May, said FM.
The rupee shed 6 paise to hit a fresh 1-month low of 62.31 on Thursday.
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.
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.
Software leaders are quite robust.
Rupee's misunderstood fall is far from over despite some near-term respite.
Rupee climbs further to fresh nine year high of 39.785 against the US dollar
Forex dealers attributed the fall to increased demand for the dollar.
The depreciating Indian rupee creates new opportunities.
Crude oil hit an all time high in rupee terms; Tuesday figures expected to be higher
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."
'Challenge is basically near-term growth as the outlook has turned a bit adverse.'
Rupee falls 5 paise against dollar, ends at 61.92.
The rupee will join the elite club of US dollar, British pound-sterling, Euro and Japanese yen to have its own symbol.
Might earn around Rs 3,720 crore on export of 2 mt of wheat, despite dipping prices in international markets
While all the four countries have seen a sharp rise in their currencies against the US dollar, the pace of rupee appreciation is only next to the Brazilian real since the beginning of this year.
Foreign investors have bought around $2.4 billion in both debt and equity so far in October, pushing the total inflows to nearly $36 billion so far in the year.
The Indian rupee strengthened 12.9 per cent against US dollar during the year ended March, 2010, touching Rs 45.14, on the back of foreign capital inflows, Parliament was informed on Tuesday.
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.
'Investors with foreign currency-denominated goals, such as foreign education or foreign travel, should go for US equity funds.'
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.
'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.'
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.
