Companies shipping to Europe to see rupee revenues coming under pressure.
Research and ratings agencies like Icra and Moody's have said the CAD in 2018-19 would be much higher than 2017-18
The broader NSE Nifty sank 252.55 points, or 2.14 per cent, to 11,558.60.
September import growth was the second lowest this fiscal year, after the April growth figures of 4.6 per cent, bringing the trade deficit down to $13.98 billion
Data on the real value of the currency against other currencies tells a different story.
Top gainers in the Sensex pack included ONGC, HDFC, Bharti Airtel, Infosys, Maruti, HCL Tech, Mahindra and Mahindra, HUL, TechM and SBI -- rising up to 2.89 per cent.
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The Indian rupee touched record low of 65.52/dollar on Thursday and is down 16 per cent so far this year despite efforts by policymakers to prop it up.
If the market starts getting nervous about the political risk factor, currency depreciation could be a lot more severe and movement's jerky.
Reserve Bank of India (RBI) Governor D Subbarao, often criticised for being "behind the curve", took market players and his critics by surprise.
India's foreign exchange reserves dropped $325 million to $560.942 billion as of February 24, making it the fourth consecutive week of decline in the kitty, the Reserve Bank of India said on Friday. In the previous reporting week, the overall reserves had declined $5.68 billion to $561.267 billion. In October 2021, the forex kitty reached an all-time high of $645 billion.
The company currently sells various vehicle brands in the country ranging from hatchback Spark to sports utility vehicle Captiva, priced between Rs 333,000 and Rs 25.71 lakh (Rs 2.57 million), respectivley, (ex-showroom Delhi).
'Consumers are willing to increase travel spends by 20-30 per cent versus pre-pandemic.'
India's forex kitty rose by $12.80 billion to $572.80 billion in the week ended March 17, the Reserve Bank said on Friday. In the previous reporting week, the reserves had dropped by $2.39 billion to a three-month low of $560.00 billion. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
Analysts say that the rupee trajectory, going ahead, will be a function of flows.
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
The reduction in rates is likely to be announced by the month end as per the practice of fortnightly revision in prices, and has been made possible due to appreciation of rupee against the US dollar.
Oil Minister M Veerappa Moily on Friday hinted at a reduction in price of petrol in next few days, the first cut in rates in over five months.
Hurdles ranging from erratic taxes throttling special export zones to a cash crunch and clogged ports are killing exports.
After years of being sequestered by the pandemic, some intrepid travellers are planning to settle their score with the novel coronavirus. With fewer or no travel curbs, they are eager to get back on the road, again. Hotels and tour operators, too, are eager to shed excess Covid baggage. And this year's Diwali promises to add that extra layer sparkle with the introduction of new flights.
India's forex reserves dropped by $329 million to $578.45 billion for the week ended March 31, on decline in gold reserves, the RBI said on Friday. The forex kitty had risen handsomely in the previous two reporting weeks, and rose by $5.98 billion to $578.78 billion for the week ended March 24. For FY23, the overall kitty has dropped by $28.86 billion.
Nariman Point was ranked 30th on the top 50 rankings for global prime office properties.
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The basis of Ind-Ra's expectation of INR appreciation is based on economic developments in the last one to two months of this fiscal and the likely developments in the remaining months.
The domestic currency has dropped by 62 paise or 0.93 per cent in four trading days.
The domestic currency had last ended at 64.17 per dollar.
According to currency dealers, any sharp movement in the rupee might result in the Reserve Bank of India intervening in the foreign exchange market.
If the view is that rupee will depreciate, hedge your exposure by using forward cover
Raghuram Rajan - the new Reserve Bank of India (RBI) governor - has announced a slew of measures to attract capital flows in the country to provide support to the rupee which has depreciated around 22% in the current financial year.
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) fell from 58.9 in October to a three-month low of 56.3 in November, indicating that the manufacturing sector growth remained strong, despite losing traction.
The recent rupee depreciation and capital outflows could adversely impact the country's economy.
India's foreign exchange reserves dropped by $1.49 billion to reach $575.27 billion as of February 3, snapping a three-week rising trend, RBI data showed on Friday. In the previous reporting week, the overall reserves had jumped by $3.03 billion to $576.76 billion. In October 2021, the country's forex kitty had reached an all-time high of $645 billion.
Dollar gained against major currencies overseas.
In 2011, the rupee emerged as the most vulnerable Asian currency on the block. It depreciated by almost 19 per cent in 2011, while for the others depreciation was mostly in single digits. The Chinese Yuan actually appreciated in this period.
The rupee fell to an all-time low of 61.21 on Monday, sparking speculation about potential measures from the Reserve Bank of India, including providing a special window for oil companies to buy dollars.
Year-to-date, the rupee is the worst-performing currency in Asia, weakening 4.184 per cent against the US dollar.
The yield on the 10-year bond may fall to 8.70 per cent due to FII flows in debt.
We will improve the ease with which business is done in India.
India's forex reserves dropped by $5.681 billion to $561.267 billion for the week ended February 17, the RBI said on Friday. This is the third consecutive week of a drop in the reserves after the $8.319 billion decrease in the previous reporting week to $566.948 billion. In October 2021, the country's forex kitty had reached an all-time high of $645 billion.
Banking shares saw a renewed buying interest on the hopes of a rate-cut by the central bank post the easing of macro-economic data.
Wipro was the biggest loser in the Sensex pack, slipping nearly 2 per cent, followed by IndusInd Bank, State Bank of India, Kotak Mahindra Bank, ICICI Bank, HDFC Bank, Infosys, Tata Consultancy Services, HDFC and Bajaj Finserv. On the other hand, Nestle, Mahindra & Mahindra, ITC, HCL Technologies, Asian Paints and Maruti were among the gainers.
Financial services major Credit Suisse on Monday said the government is likely to support rupee as the rapidly falling local unit is causing visible pressure on the country's oil and fertilisers deficit bill.
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