'Consumers are willing to increase travel spends by 20-30 per cent versus pre-pandemic.'
The rupee gained 28 paise on Thursday to close at 62.50.
Rupee hits 2-month low, down 21 paise against dollar.
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.
Hero MotoCorp, Bajaj Auto, M&M and Tata Motors were the major winners.
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.
The rupee on Tuesday fell by 25 paise to 65.05 on fresh dollar demand from banks and importers despite persistent foreign capital inflows.
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.
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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.
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 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.
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.
Foreign institutional investors pulled out Rs 86.66 crore (Rs 866.6 million) from local stocks on Monday, as per provisional BSE data.
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.
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.
If the rupee falls further, it would negatively impact the dollar-based returns of foreign investors, and could influence foreign flows into India.
Foreign fund inflows and a higher opening in the domestic equity market supported the domestic unit
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.
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.
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.
The rupee had plummeted to over three-month low of 63.32.
A fall in the rupee could boost exports. But the flip side of the equation is that a weaker rupee could stoke some inflation
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 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.
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.
Decisions taken at home to counter impact of 2008 economic meltdown were among the reasons for depreciation of the Indian currency.
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.
Investors are anxious over the US-China trade tension, a sharp devaluation in yuan and uncertainty over Kashmir issue.
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.
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.
Good performances by most information technology (IT) companies in the September quarter and improved forecasts notwithstanding, with the exception of Infosys, stocks of IT biggies such as TCS, Wipro and HCL Technologies have fallen three to nine per cent since Infosys announced its earnings on October 11.
Consumers would soon have to shell out more to buy mobile phones, TV sets, cameras, laptops and other consumer electronic goods.
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.
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.
Between April 2 and July 8 this fiscal, the rupee has plummeted by 12.81 per cent, and hit all-time low of 61.21 per cent on Monday.
Some experts, however, see a silver lining in the fall and said the volatility has come down sharply and that bodes well for the Indian currency
The reason for the stickiness in bond yields can be many, but the most responsible is the liquidity deficit stance taken by RBI, says Anup Roy.
'A stable and strong Pakistan with an anti-India mindset and hatred is not good for us.'
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