A man shows Rs2000 currency notes in Jammu, India Associated Press
Credit rating agency Moody’s on Tuesday said the new liquidity requirement for non-bank finance companies announced by the RBI is credit positive since it will reduce their risk due to liquidity shortfall that could disrupt their ability to collect
Sustained foreign inflows along with a slew of upcoming IPOs are expected to strengthen the Indian rupee during the week ahead. Accordingly, these factors are expected to push the rupee beyond its current 52 week high mark.
Rising trade deficit along with chances of a populist budget might dampen rupee’s prospects during the coming week. Nevertheless, persistent interest of Foreign institutional investors (FIIs) in India’s equity market will arrest any sharp depreciation moves.
India’s foreign exchange reserves rose by $4.344 billion during the week ended April 9. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $581.213 billion from $576.869 billion reported for the week ended April 2.
Michael Bolliger, Chief Investment Officer Emerging Markets at UBS Global Wealth Management, has stated that he expects the UAE’s economy to grow by over five percent in 2022. In an interview with the Emirates News Agency (WAM), Bollinger said that the UAE’s economy grew by 3.8 per cent in 2021, due to appropriate government incentives
President Abdel Fattah Al Sisi accepted the resignation of Amer and named him a presidential adviser, the state-owned newspaper Al Ahram reported.
China will step up support for the economy, Premier Li Keqiang has said, urging economically important provinces to take the lead in implementing growth policies, state media reported a day after data showed growth unexpectedly slowed last month. China’s economy continued to recover in July but there were “small fluctuations”, Li said during a
The Indian rupee closed higher on Wednesday marking its biggest single-day gain in more than one week spurred by dollar inflows, as improved risk appetite drove a rally in equities while the greenback posted losses. The partially convertible rupee closed at 79.4450 in its best session since Aug. 5. The currency had ended at 79.6550 on Friday.