On Wednesday, the rupee had dropped by 26 paise.
While the country is gripped by Ram Mandir frenzy, Danish Husain -- without shouting from the rooftops -- silently staged his opinion with this play on one of India's best-known poets, observes Neeta Kolhatkar.
Indian airline industry is expecting to prune its net losses to Rs 3,000-5,000 crore in this fiscal from an estimated Rs 17,000-17,500 crore in FY2023 on the back of improved yields and stable cost environment, credit ratings agency ICRA said on Tuesday. At the same time, ICRA also estimated that domestic air passenger traffic will expand by 8-13 per cent each in FY2024 and FY2025. The rating agency has also maintained its stable outlook on the industry in view of healthy passenger traffic growth, improved yields and a stable cost environment.
A smart rebound in the stock market and sustained capital inflows restricted the rupee loss
This is the biggest one-day fall in the rupee since August 3, 2016
The Jaipur Municipal Corporation has taken possession of the two heritage havelis that were purchased by the former Indian Premier League commissioner Lalit Modi four years ago in the protected Amber Fort area, a senior official said on Thursday.
RBI fixed the reference rate for the dollar at 66.2930 and euro at 74.8978.
There was fresh selling of the American currency by banks and exporters
New 100 rupee currency notes with inset letter 'G' in both numbering panels will be in circulation shortly.\n\n
In spite of Mukesh Ambani, Gautam Adani, the Poonawallas and many other Indians seeing a jump in their net worth in the pandemic-hit 2020, overall wealth of the country's super-rich dipped 4.4 per cent to $12.83 trillion in the year due to the rupee's fall, and so did their tally, says a report. The number of dollar millionaires in India fell from 7,64,000 in 2019 to 6,98,000 solely because of the rupee's fall, while their cumulative wealth stood at $12.833 trillion, down $594 billion or 4.4 per cent from the previous year, according to the report by Credit Suisse Research Institute. The country is home to just 1 per cent of the global rich, whose number rose by 5.2 million to 56.1 million in the COVID-hit year. However, the report expects the number of millionaires in India to soar 81.8 per cent to 1.3 million by 2025.
After a day's respite, the rupee on Wednesday fell by 29 paise, its biggest single day fall in a week, to end at 56.73 today due to heavy dollar demand from importers amid renewed concerns over withdrawal of US monetary stimulus.
Firm equity markets and foreign capital inflows failed to restrict rupee's fall against the dollar
The rupee ended weaker against the greenback on domestic worries.
The rupee had recovered by 8 paise to close at 66.91 in Tuesday's trade.
The rupee had dropped by 18 paise to end at 66.40
Fag-end selling of dollars by banks and exporters
The rupee snapped its two-day winning run against the dollar.
In forward market, premium for dollar continued to fall due to persistent receivings from exporters.
The US stimulus programme has been credited with fuelling a global equities rally for most of the year.
Three persons are being questioned in connection with the massive seizure.
The rupee has gained by 21 paise or 0.31 per cent in last two days
Weakness in dollar in the overseas market also boosted the rupee value
The domestic currency has dropped by 62 paise or 0.93 per cent in four trading days.
The US dollar surged to fresh one-year high after the Fed chief's testimony to the US Senate on Wednesday bolstered the expectations of interest rate hikes, though gradually.
The rupee slipped marginally by two paise at 66.43 against the US dollar on good demand
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 weakened by 15 paise to close at 63.30 against the US currency
India's sad export figure put pressure on the rupee
Forex market was shut on Tuesday on account of 'Mahavir Jayanti'.
Over 85 per cent of SIP AUM, or Rs 5.8 trillion, is in equity schemes, compared to just Rs 6,100 crore in debt.
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 US dollar's weakness against some currencies overseas capped the losses.
The rupee has been under immense pressure due to a host of reasons including soaring crude oil prices, sustained foreign fund outflows and widening current account deficit.
Healthy demand for the American unit from importers and corporate weighed on the rupee
A weak dollar sentiment across the board alongside unwinding of long positions by speculative traders ahead of key US macro data release largely supported the rupee
The rupee has dropped by 60 paise or 0.89 per cent in the last three trading days.
The domestic currency has already dropped 44 paise, or 0.67 per cent, in the previous two sessions.
The US currency's decline against major world currencies alongside fag-end dollar supply largely helped the rupee recoup some of its initial losses
Riding the wave of the equity market, the mutual fund (MF) industry experienced double-digit growth in Samvat 2079, concluding the Hindu calendar year close to the Rs 50 trillion assets under management milestone. After a subdued 6 per cent growth in Samvat 2078, the industry's assets surged over 18 per cent last year to Rs 46.7 trillion. Industry players anticipate that Samvat 2080 will also be a fruitful year for the asset management industry, given the strong inflows from retail investors, particularly through the systematic investment plan route.
US-based Spectrum Global Fund Administration, providing back-office operations to hedge funds in the US and the UK, is closing its facilities in India. The company had started its operations in India two years ago.
