Revenues of Indian companies, excluding those engaged in banking and oil, are expected to grow marginally at 5-6 per cent in the first quarter of this fiscal.
India's forex reserves dropped by $8.32 billion to $566.95 billion for the week ended February 10, the RBI said on Friday. This is the second consecutive week of drop in the reserves after the $1.49-billion decrease in the previous reporting week. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
On Monday, Reserve Bank hiked the lending rates to banks by 2 per cent to 10.25 per cent.
'A stable and strong Pakistan with an anti-India mindset and hatred is not good for us.'
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.
The rupee gained 28 paise on Thursday to close at 62.50.
Rupee hits 2-month low, down 21 paise against dollar.
Hero MotoCorp, Bajaj Auto, M&M and Tata Motors were the major winners.
India's forex reserves declined by $1.27 billion to $561.58 billion for the week ended January 6, the Reserve Bank said on Friday. The overall reserves had increased by $44 million to $562.85 billion in the previous reporting week after two consecutive weeks of the slide. In October 2021, the country's foreign exchange kitty reached an all-time high of $645 billion.
India's forex reserves increased by $3.034 billion to $576.76 billion as of January 27, making it the third consecutive week of a jump in the kitty. The overall reserves had risen by $1.727 billion to $573.727 billion in the previous reporting week. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
We are much better placed than in 2013 with our overall fundamentals much stronger - higher foreign exchange reserves, a more favourable growth-inflation mix and an institutional framework for targeting inflation, says B Prasanna.
Benchmark interest rate hiked by 50 basis points to 3-year high at 5.90 per cent. Economic growth projection for FY23 cut to 7% from 7.2% estimated in August. GDP expected to grow at 6.3% in September quarter, 4.6% each in December and March quarters.
The rupee on Tuesday fell by 25 paise to 65.05 on fresh dollar demand from banks and importers despite persistent foreign capital inflows.
Falling for the third day, Indian rupee on Wednesday weakened by 14 paise to close at over one-week low of 62.02 against the Greenback.
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The Reserve Bank of India sold dollars via state-owned banks around 62.3575 per dollar to contain the rupee's fall, traders said.
All nine Adani stocks saw a rise in their share price in H1FY23, ranging from 6.1% in case of Adani Ports to 102% in case of Adani Power.
The rupee has depreciated by about 25 per cent in the past three months, from close to Rs 83 in mid-May, while it was even higher at about Rs 80 against the British Pound in March.
The employment situation remains dire. Whatever can be done to promote greater low-skill employment should be pursued aggressively, advises former chief economic adviser Shankar Acharya.
If the rupee falls further, it would negatively impact the dollar-based returns of foreign investors, and could influence foreign flows into India.
Increased demand from oil importers for the American currency kept pressure on the rupee
Students going abroad could look at options like paying tuition fee in one go, as that can get discounts.
Foreign fund inflows and a higher opening in the domestic equity market supported the domestic unit
Foreign institutional investors pulled out Rs 86.66 crore (Rs 866.6 million) from local stocks on Monday, as per provisional BSE data.
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.
While the rupee depreciation in 2012 persuaded many companies in taking hedges against their foreign currency loans, industry analysts feel it might not be sufficient to counter the swift slide in the value of the local currency.
If you plan to send your child to the US five years from now and expect the rupee to depreciate five per cent every year, adding US funds to your portfolio might be a good idea, says Ashley Coutinho.
A fall in the rupee could boost exports. But the flip side of the equation is that a weaker rupee could stoke some inflation
The rupee had plummeted to over three-month low of 63.32.
Investors are anxious over the US-China trade tension, a sharp devaluation in yuan and uncertainty over Kashmir issue.
'Gold prices thrive on volatility and more so when the stock markets trend downward.'
According to HSBC, the 'storm has abated' for the Indian markets as the US Fed has deferred tapering of its quantitative easing stimulus, and as the new Reserve Bank of India Governor Raghuram Rajan has taken steps to contain the rupee fall.
India's forex reserves increased by $1.78 billion to $573.78 billion in the week ended January 20, the Reserve Bank of India said on Friday. This is the second consecutive week of a rise in the kitty after the $10.42 billion jump to $572 billion during the preceding week. In October 2021, the country's forex kitty had reached an all-time high of $645 billion.
A 10 per cent-plus movement of currency in a few weeks is definitely concerning for the companies.
The rupee was largely rangebound for most of the trading day in the absence of any major cues ahead of the Reserve Bank of India's rate-setting meeting next week.
India's forex reserves dropped by $691 million to $562.808 billion as of December 23, making it the second consecutive week of decline in the kitty, according to the RBI data. The overall reserves had dropped by $571 million to $563.50 billion in the previous reporting week, snapping a five-week trend of an increase in the kitty. In October 2021, the country's foreign exchange reserves reached an all-time high of $645 billion.
Decisions taken at home to counter impact of 2008 economic meltdown were among the reasons for depreciation of the Indian currency.
India's forex reserves zoomed by $10.42 billion to $572 billion as on January 13, making it one of the biggest weekly jumps in the kitty in recent times. In the previous reporting week, the overall reserves had dropped by $1.268 billion to $561.58 billion. In October 2021, the country's forex kitty reached an all-time high of $645 billion.
Telecom major Bharti Airtel on Wednesday reported a 29 per cent decline in consolidated net profit at Rs 512 crore (Rs 5.12 billion) for the quarter ended September 30, 2013, mainly on account of increase in finance cost and forex losses due to rupee depreciation.
Participatory Notes (P-Notes) are derivative instruments issued by FIIs to foreign investors -- individuals or corporates -- who want exposure to Indian equities, but do not want to register with Sebi.
'Valuations are very attractive, and most companies are cash-rich with strong dividend yields.'
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